Think Economically


Maximum understanding, minimum average total cost.

Video – Introduction to Statistics part 2 – Data

Today we talk about data–what we mean, where we find it, why you might want to get your hands on some, as well as data scales and cross-sectional v. time-series v. longitudinal. Enjoy!

Today’s video – Intro to Statistics part 2 – Data.


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Video – Introduction to Statistics part 1

So I’m set up for recording video again. I’ve got a new prep this semester: Business Statistics. The videos should combine with the ones I’ve already posted to create a full 2-course sequence in statistics for business applications. My goal is to post one every Tuesday and Thursday. I hope you enjoy! As always, feedback, positive and negative, is welcome.

Today’s video – Intro to Statistics part 1.


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Economics is a science. An awesome science. Newton, Feynman, Maxwell, Hooke, et al. would agree.

I wrote this in reply to a list-serv conversation with some criticisms of economics as a  science, and since I still work for my supper, I figured in addition to making lemonade, I would clone that lemonade with the handy-dandy Replicator function on my futuristic writing contraption. The names have been changed to protect the innocent (Not very much. Einstein was changed to Galileo, and Galileo was changed to Einstein. I just switched the ‘n’s in Newton, and the same with Feynman. With Hooke it was the ‘o’s. Maxwell is not innocent, so I left his name as is.).


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Economists and crises: my take on Krugman’s take on economists’ take on The Big One.

Krugman gave a speech on receiving an honorary degree in Lisbon; he reprints the full text here:

Krugman’s general story: the field of macroeconomics was better, descriptively and predictively, back in the 1970s, but at the cost of being coherent and complete. In the intervening years, a number of economists sacrificed completeness and consistency for external validity, and that blinded us (well, them; I’m not a macroeconomist) to the causes and cures of the recent financial crisis. He pitches it as a saltwater v. freshwater battle, which maybe it is.

Then again, maybe it’s a matter of getting high off your own supply. Read the rest of this entry »

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