Goal for the day: To answer one specific question you're trying to figure out for your proposal.
In honor of the weather, we're going to talk about the economic impact of rain on Durango. Just kidding....
Today is another work day on your economics project. Don't forget that business proposals need to come with a break-even analysis. The sheet that we used in class to work on this is here.
There are two options for elective classes today. For those that are interested in the financial crisis of 2008, we'll do a fun activity to help you understand what happened. The importance of this event can't be understated, both because it had a devastating impact and because the underlying conditions that caused the crisis have not fundamentally changed. There are some more regulations in place now, but there is no evidence that the incentive structure is significantly different for the individuals and firms behind the crisis.
The best two resources I've found to explain the causes of the financial crisis are the Academy Award Winning Documentary from 2010 Inside Job by Charles Ferguson. This devastating documentary excoriates both Democratic and Republican politicians and the bankers, regulators, and academics who caused the crisis.
A slightly more playful approach to explaining it all is this hour-long special but together by the producers of This American Life and Planet Money radio shows.
We'll play in the swill of financial insolvency for about a half hour or so.
Then, after the break, we'll talk a bit about managing people (aka human resources) and some of the decisions you need to make as an employer in figuring out what kind of work relationships to set up in your venture.
The rest of the time I'll be checking in with each of you and answering some specific questions.
Homework for Wednesday, March 4th
Keep working on your project. Bring something for critique on Thursday.
In honor of the weather, we're going to talk about the economic impact of rain on Durango. Just kidding....
Today is another work day on your economics project. Don't forget that business proposals need to come with a break-even analysis. The sheet that we used in class to work on this is here.
There are two options for elective classes today. For those that are interested in the financial crisis of 2008, we'll do a fun activity to help you understand what happened. The importance of this event can't be understated, both because it had a devastating impact and because the underlying conditions that caused the crisis have not fundamentally changed. There are some more regulations in place now, but there is no evidence that the incentive structure is significantly different for the individuals and firms behind the crisis.
The best two resources I've found to explain the causes of the financial crisis are the Academy Award Winning Documentary from 2010 Inside Job by Charles Ferguson. This devastating documentary excoriates both Democratic and Republican politicians and the bankers, regulators, and academics who caused the crisis.
A slightly more playful approach to explaining it all is this hour-long special but together by the producers of This American Life and Planet Money radio shows.
We'll play in the swill of financial insolvency for about a half hour or so.
Then, after the break, we'll talk a bit about managing people (aka human resources) and some of the decisions you need to make as an employer in figuring out what kind of work relationships to set up in your venture.
The rest of the time I'll be checking in with each of you and answering some specific questions.
Homework for Wednesday, March 4th
Keep working on your project. Bring something for critique on Thursday.