Daily Lessons Spring 2017

        Links to Evernote Pages:

Evernote Week #1 Lectures #1-4

Evernote Week #2 Lectures #5-7

Evernote Week #3 Lectures #7-11

Evernote Week #4 Lectures #10-13

Evernote Week #5 Lectures #14 & 15

Evernote Lectures #16-20

Evernote Lectures #21-26

Evernotes Lectures #27-31

Evernote Lectures #31-33

 

WEEK 6

 

Monday, April 24, Meeting #21

1.    Arrange the reading groups (four per group) for The Critical Conversation – your analytical conversation at A-Block with the Teacher (Critical Conversations begin Monday, May 15.) 

2.    Summarize The Big Short, Chapters 1-3.

3.    Frame the Process for determining & analyzing “The Costs for Your First Year of College”

4.    Show The Big Short

 

Homework

ü   “The Costs of College”-- Do your research to discover the reasons college costs have skyrocketed in the past 25 years.  READ ON YOUR OWN. TAKE NOTES. CITE YOUR FOUR (4) SOURCES.

ü  Preview Lecture #13, Poverty & Welfare.  

 

 

Tuesday, April 25, Meeting #22

1.    In-class Reading of The Big Short Chapter 3, pp 72-77 (from “Greg Lippmann watched his counterparts…” to “…their fate might be gambled upon.”)

2.    Use your reading groups to analyze your numbers:  “The Costs for Your First Year of College”: Share & Compare

3.    Lecture #13: Poverty & Welfare

 

Homework

ü  Read the Chapter 3 of The Big Short pp 77-84 (from “…their fate might be gambled upon.” To the end of Chapter 3,

ü  Midterm Exam Monday on Lectures 1-15 & The Big Short Chapters 1-4

ü  Required--Watch the Khan Academy video on  “Stocks vs. Bonds: The difference between a stock and a bond”  (9:21) http://www.khanacademy.org/science/finance/core-finance/v/bonds-vs--stocks

 

 

Wednesday, April 26, Meeting #23

1.    In-class Reading of The Big Short from the beginning of Chapter 4 p. 85-89 (“They hadn’t. Not really.” to “…Park had dared to contradict him.”)

2.    Analyze your numbers:  “The Costs for Your First Year of College”

a.    Share & Compare

3.    Lecture #13: Poverty & Welfare: Can we end poverty in America?

What is “the welfare state?” Does welfare work? What causes economic inequality?  Is inequality a bad thing?

 

Homework

ü  Preview Lecture #15: Imperfect Information & Insurance

ü  Read Chapter 4 of The Big Short p. 90- 95    (From “The one Wall Street trader…” to “…we tried to figure out what we’d done.”)

ü  Midterm Exam Monday on Lectures 1-15 & The Big Short Chapters 1-4 

Recommended:  Read Ta Nehisi Coates, “The Case for Reparations,” The Atlantic (June 2014)   http://www.theatlantic.com/magazine/archive/2014/06/the-case-for-reparations/361631/

 

 

Thursday, April 27, Meeting #24

1.    Adjust your numbers:  “The Costs for Your First Year of College”

2.    In-class reading of The Big Short – continue reading Chapter 4, pp 95-100    (From “The minute they’d done their first trade…” to “…and keep the average at 615.”)

3.    Read “Controlling Health-Care Costs: Another American Way," an The Economist (April 2010) on Kaiser Permanente  Click Here to Access the Article

4.    Lecture #15: Imperfect Information & Insurance

 

Homework

ü  Listen to Planet Money's Episode 439: The Mysterious Power of a Hospital Bill (18:13) February 26, 2013   Go to Planet Money App & search for the title, "Episode 439: The Mysterious Power of a Hospital Bill."  It is 18 minutes long, so you have to treat this like an audio lecture.  

ü  Midterm Exam Monday on Lectures 1-15 & The Big Short Chapters 1-4 


Friday, April 28, Meeting #25

1.    In-class Reading of The Big Short Chapter 4, pp 100-104   (“Where to find the borrowers with high FICO scores?”) to the end of Chapter 4.

2.    Insurance Case Study:  Focus on Health Care--

a.    http://www.npr.org/2016/05/03/476517927/politics-in-real-life-rising-health-care-costs-weigh-on-voters

b.    Read Steven Brill Health Care Article Paints Bleak Portrait Of Health Care  http://www.huffingtonpost.com/jeffrey-young/steven-brill-health-care-_b_2736712.html  

3.    Lecture #15: Focus-- Health Insurance: Where do we go from here?

a.    Focus on Health Care -- Is Health Insurance a Right or a Commodity to Buy and Sell? How do we deal with the risks and uncertainties of the future?"

Homework

ü  Midterm Exam Monday on Lectures 1-15 & The Big Short Chapters 1-4


Week #7

Monday, May 1, Meeting #26

Midterm Exam on Lectures 1-15 & The Big Short Chapters 1-4

Homework

ü  Read the first five pages of Chapter 5 of The Big Short p. 104-108 (to “…Why isn’t someone else smarter than us doing this?)

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Tuesday, May 2, Meeting #27

1.    In-class reading of Chapter 5 of The Big Short pp 108-113   (“Every new business is inherenly implausible…” to “……look at the prices of these options?”)

2.    Review First Half of the Course, Lectures #1-15 

3.    Part II of the Course Macroeconomics  Lecture #16:  The Goals of Macroeconomics

a.    A Review of a Key Concept: How much government control is enough/too much?  

b.    Document Analysis: The Economic System Wheel: Capitalism to Communism, Karl Marx & Adam Smith

Homework

ü  Read the Chapter 5 of The Big Short from 113-118 (From “The right to buy Capital One’s shares…” to “…while remaining employed by Deutsche Bank.”)

ü  Required--Watch the Khan Academy video on  “Stocks vs. Bonds: The difference between a stock and a bond”  (9:21) http://www.khanacademy.org/science/finance/core-finance/v/bonds-vs--stocks

ü  Preview PowerPoint Lectures #17 & #18  Economic Growth & Unemployment


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Wednesday May 3   Meeting #28

1.    In-class reading of the next five pages of Chapter 5 of The Big Short from 118-123  (From “Ben moved from Tokyo…” to “…the beating heart of Wall Street.”)

2.    Discuss the Khan Academy videos on Stocks vs Bonds

3.    Lectures #17 & #18, Economic Growth & Unemployment

4.    Watch The Big Short

 

Homework

1.  Read the next five pages of Chapter 5 of The Big Short p. 123-128   (“By early 2006, Cornwall Capital…” to “…like a diversified pool of assets.”)

2.  Watch the Khan Academy Video on how bubbles destroy wealth, “Wealth destruction I” (10:26).  For more, watch “Wealth destruction II” (10:37)

 

 

Thursday, May 4  Meeting #29

1.    In-class reading of the next five pages of Chapter 5 of The Big Short p. 128-132    (“Charlie, Jamie, and Ben…” to “…So we wound up dealing with them.”)

2.    Discuss the Khan Academy Videos on how bubbles destroy wealth, “Wealth destruction I” (10:26) and “Wealth destruction II” (10:37)

3.    Finish watching The Big Short 

Homework

ü  Watch Khan Academy Video: “What is inflation?” (3:29)   (Go to “Finance and capital markets” then “”Inflation” then “Inflation basics” then ”What is inflation?” (3:27)  …or…  http://www.khanacademy.org/finance-economics/core-finance/v/what-is-inflation

ü  Watch Khan Academy Video, “Deflation”: Go to “Finance and capital markets” to “Inflation” to “Deflation” to “Deflation” again. (3:02)

 

Friday, May 5, Meeting #30

1.    In-class reading of the next five pages of Chapter 5 of The Big Short

2.    Lecture #19, What is Inflation?

3.    The basics of hyperinflation   Watch Khan Academy, “Hyperinflation.” (3:02) http://www.khanacademy.org/finance-economics/core-finance/v/hyperinflation 

Homework

ü  Finish Chapter 5 of The Big Short p. 132-135  (From “Charlie and Jamie continued…” to the end of the chapter.)

ü  Preview Lecture #20  Balance of Trade 

 

WEEK #8

Monday, May 8, Meeting #31

1.    In-class reading of the first five pages of Chapter 6 of The Big Short, p. 136-139  (From the start to “…Say that again. Say that again.”)

2.    Lecture #20  Balance of Trade

3.    View Inside Job

Homework

ü  Read the next five pages of Chapter 6 of The Big Short, p. 140-144 (From “Later, when Eisman…” to “’…face-to-face,’ said Vinny.”)

ü  Quiz Wednesday on Lectures 16-20 & concepts in The Big Short

 

Tuesday, May 9, Meeting #32

1.    In-class reading of the next five pages of Chapter 6 of The Big Short, p. 144-150     (From “In what amounted to…” to “…sell him some credit default swaps.”

2.    Keynesian & Neo-Classical Economics

a.    FOCUS ON KEYNES & HAYEK: THE VIDEOS http://www.zerohedge.com/article/keynes-vs-hayek-sequel

3.    View Inside Job 

Homework

ü  Read the next five pages of Chapter 6 of The Big Short p. 150-155   (From “The morning after his dinner…” to “…he was connecting all the dots.”)

ü  Watch the Khan Academy Video:  “Keynesian Economics” (12:03)  Search for “Keynesian economics” under “Macroeconomics.”   …or… http://www.khanacademy.org/finance-economics/macroeconomics/v/keynesian-economics

ü  Preview Lectures #21 & #22    

ü  Quiz Wednesday on Lectures #16-20   


Wednesday, May 10, Meeting #33

1.    Short Quiz on Lectures 16-20

2.    Read the last five pages of Chapter 6 of The Big Short p 155-159.

3.    Lecture #21, Aggregate Supply/Demand

4.    Lecture #22, Unemployment-Inflation Tradeoff

Homework

ü  Read the first five pages of Chapter 7 of The Big Short p. 160-163  (From the start to “’…not allowed to go short,’ said Charlie.”)


Thursday, May 11, Meeting #34

1.    In-class reading of the next five pages of Chapter 7 of The Big Short p. 164-167   (From “He couldn’t know for sure…” to “…Wall Street cynic.”)

2.    On Home Ownership --The Ascent of Money from Chapter 5 “It is the English-speaking world’s favourite economic game…”  to “...nothing beats brick and mortar as an investment.”  “Or is the real estate game more like a house of cards?” (+2 pages)

3.     RE-VISIT: KEYNES & HAYEK: THE VIDEOS http://www.zerohedge.com/article/keynes-vs-hayek-sequel

4.    View Inside Job

Homework

ü  Finish reading Chapter 7 of The Big Short, p. 167-178 by Monday.

ü  Preview Lecture #23, Fiscal Policies & Budget Deficits


Friday, May 12, No Meeting       Founder’s Day


WEEK #9

Monday, May 15, Meeting #35

1.    In-class reading of the first five pages of Chapter 8 of The Big Short p. 179-183   (From the start of the chapter to “…Now I was explained by a disorder.”)

2.    Lecture #23, Fiscal Policies & Budget Deficits

3.    Origins of the Home-owning Democracy Experiment

a.    Video excerpt from It’s a Wonderful Life               

b.    Read Ascent of Money Ch 5 from “The power of art is a wonderful thing…” to “…a couple of decent rooms and a bath?” (2 pages)

4.    View Inside Job 

Homework

ü  Read the next five pages of Chapter 8 of The Big Short p. 183-188   (From “He resisted the news…” to “…a tiny part of the portfolio now.”)

ü  Preview Lecture #24   Countercyclical Fiscal Policies

ü  Review Lectures 16-26, The Big Short, Keynes & Hayek for exam Friday.                


Tuesday, May 16 Meeting #36

1.    In-class reading of the next five pages of Chapter 8 of The Big Short p. 188-192    (“This last question…” to “…just so made and depressed right now.”)

2.    Lecture #24   Countercyclical Fiscal Policies                 

3.    (Mis)Managing an Economic Crisis

4.    View Inside Job 

Homework

ü  Read the remainder of Chapter 8 of The Big Short p.192-199

ü  Preview Lecture #25, Budget Deficits

ü  Review Lectures 16-26, The Big Short, Keynes & Hayek for exam Friday.                

 

 

Wednesday, May 17,  Meeting #37

1.    In-class reading of the first five pages of Chapter 9 of The Big Short p. 200-204  (From the start to “…with Wing Chau’s Harding Advisory.”)

2.    Lecture #25  Budget Deficits  

3.    View Inside Job

 

Homework

ü  Read the next five pages of Chapter 8 of The Big Short p. 204-209   (From “The putative best and brightest…” to “…CDO executive who dealt with Hubler.”)

ü  Review Lectures 16-26, The Big Short, Keynes & Hayek for exam Friday.                

ü  Preview Lecture #26,  Money & Banking  


Thursday, May 18, Meeting #38

1.    In-class reading of the next five pages of Chapter 7 of The Big Short

2.    Lecture #26,  Money & Banking

3.    View Too Big to Fail  

 

Homework

ü  Preview Lecture #26,  Money & Banking  

ü  Review Lectures 16-26, The Big Short, Keynes & Hayek for exam Friday.                

 

 

Friday, May 19, Meeting #39

1.      Lecture #23, #24, #25

2.    View Inside Job  

 

Homework

ü  Read the first five pages of Chapter 8 of The Big Short

ü  Preview Lecture #26

ü  Quiz Monday on The Big Short, Chapter 7 & Keynes-Hayek Videos


 

WEEK #10

Monday, May 22,  Meeting #40

1.   Quiz on Big Short Chapter 7 &  Keynes-Hayek Videos

2. Read the next five pages of Chapter 8 of The Big Short

3.    Lecture #26 

4.    View Inside Job   


Homework

ü  Preview Lecture #27

ü  Read the next five pages of Chapter 8 of The Big Short

              

 

Tuesday, May 23,  Meeting #41    

1.    Read the next five pages of Chapter 8 of The Big Short

2.    Lecture #28, Goals of Monetary Policy

3.    Explain (The Ascent of Money, pp 297-305) The “new financial architecture for the post-WWII world”: The Bretton Woods Accords 1944

4.    View Too Big to Fail  

 

Homework

ü  Watch the Khan Academy Video on Monetary & Fiscal Policy: http://www.khanacademy.org/finance-economics/macroeconomics/v/monetary-and-fiscal-policy

ü  Preview Lecture #29 International Trade & Protectionism

ü  Read the next five pages of Chapter 8 of The Big Short

 

 

Wednesday, May 24, Meeting #42 

1.    The Dangers in the Modern Financial System

a.    àRead The Ascent of Money, a new kind of ‘hit men’—Hedge Fund Managers like George Soros.  From “In truth, the1980s saw…” to “Every bubble consists of a trend and a misconception that interact in a reflexive manner.” (2 pages)

b.    à Summarize “Short-Term Capital Mismanagement” Fisher Black of Goldman Sachs, Myron Scholes of Stanford University, & Robert Merton of Harvard; the Black-Scholes Model; ‘Quants,’ Mathematical geniuses, Long-Term Capital Management

2.    Lecture #29 International Trade & Protectionism

3.    View Too Big to Fail  

 

Homework

ü  Read the next five pages of Chapter 8 of The Big Short

ü  Preview Lecture #30 Currency Exchange Rates

ü  Study for the Last Exam --Macroeconomics --next Thursday, June 1, on Lectures 16-34, The Big Short, Keynes & Hayek, the four films we have watched.

 

 

 

Thursday, May 25, Meeting #43

1.    Read the first five pages of Chapter 9 of The Big Short

2.    Lecture #30 Currency Exchange Rates

3.    The New World Order of Modern Global Finance—the End of American Economic Hegemony?

a.    The Ascent of Money, Chapter 6 subsection “Chimerica”

4.    View Too Big to Fail  

 

Homework

ü  Read the next five pages of Chapter 9 of The Big Short

ü  Preview Lecture #31, The Gains of International Trade

ü  Study for next Thursday’s Last Exam on Macroeconomics, Lectures 16-34, The Big Short, Keynes & Hayek, the four films we have watched.

 

 

Friday, May 26, Meeting #44

1.    Read the next five pages of Chapter 9 of The Big Short

2.    Lecture #31, The Gains of International Trade

3.    View Too Big to Fail  

 

Homework

ü  Read the next pages of Chapter 9 of The Big Short

ü   Preview Lecture #32, Debates Over Protectionism 

ü  Study for next Thursday’s Last Exam on Macroeconomics, Lectures 16-34, The Big Short, Keynes & Hayek, the four films we have watched.

 

Week #11

 

Tuesday, May 30 Meeting #45

1.    Read the next five pages of Chapter 9 of The Big Short

2.    Lecture #32 Debates Over Protectionism

3.    View Too Big to Fail  

 

Homework

ü  Read the next five pages of Chapter 9 of The Big Short

ü  Preview Lecture #33 International Financial Crashes

ü  Preview Lecture #34  A Global Economic Perspective

ü  Study for Thursday’s Last Exam on Macroeconomics, Lectures 16-34, The Big Short, Keynes & Hayek, the four films we have watched.

           

 

Wednesday, May 31, Meeting #46 

1.    Read the next five pages of Chapter 9 of The Big Short

2.    Lecture #33 International Financial Crashes

3.    Lecture #34  A Global Economic Perspective

4.    View Too Big to Fail  

 

Homework

ü  Study for Thursday’s Last Exam on Macroeconomics, Lectures 16-34, The Big Short, Keynes & Hayek, the four films we have watched.

 

 

 

Thursday, June 1, Meeting #47 

The Last Exam -- Macroeconomics, Lectures 16-34, The Big Short, Keynes & Hayek, the four films we have watched

 

Homework

None.  You are done… Congratulations.