If you’re a regular follower of audioecon, you’ll notice some updates to our site this month (March 2023). We recognize that, while students are increasingly eager to connect the classroom with current events, incorporating interesting, relevant daily or weekly news can be a heavy lift for professors.
We’ve often included ‘teaching ideas’ in the past to ease the load for instructors wanting to incorporate relevant podcast content into classroom learning and assignments through discussions, reflections, etc. (see the ‘teaching ideas’ category for a full list). Based on feedback, we’ll now be including teaching ideas with every new Audioecon.com post. Follow the ‘teaching ideas’ link on each new post to find :
a few “listening check” multiple-choice questions that incentivize careful pre-class listening,
suggestions for an in class teaching idea (~10 minutes of class time) which may include discussion ideas, numerical problems, data analysis, and graphical or other quantitative problems.
This will facilitate your efforts to help students digest the podcast content and merge it meaningfully with class concepts. We hope this helps you easily infuse fresh examples and applications into your curriculum!
P.S. if you’re a subscriber to audioecon, you may get a few extra email updates in the coming week or so as we add a healthy dose of fresh content. After that things will go back to normal! Apologies and thanks for your patience.
Summary: There are more dollar store discount stores than Starbucks, Walmart and McDonalds combined. In recent years, several communities, particularly in the South, are trying to slow the proliferation of these stores, stating they deter regular grocery stores and limit the availability of fresh, healthy food options. The Indicator explores how dollar stores bans have worked out in two cities. Our application exercises builds a supply and demand framework to study the situation.
Summary: It’s “Debt Ceiling Season!” This means that the federal government is on track to reach the limit to which is approved to borrow. Once the limit is reached, it must cut spending or increase the debt limit. This episode delves into the history of the debt and examples of how other countries manage limits on government borrowing. The suggested Teaching Ideas exercise includes use of FRED data to understand the relationship of the debt, deficit and business cycles over time.
Summary: And the “Beigie” Award goes to…. the Boston Fed!! The Beige Book provides a snapshot of economic activity in the different Federal Reserve Districts every six weeks. Importantly, it does in a very qualitatively, often featuring anecdotes or observations from regional businesses. The Indicator’s favorite entry for this edition describes the scramble for seasonal workers as Cape Cod hospitality businesses ramp up for the summer We describe how you can set-up your own Beigie Award activity in class!
Summary: First Republic Bank has folded and the Fed has a new “unflinching” report on the regulatory and supervisory failures leading to the SVB failure. SVB’s own mismanagement, the 2018 relaxation to Dodd-Frank plus lax and lethargic supervision are to blame. Our student application exercise gets into some of the specifics here (CAMELS ratings anyone?) while also discussing broad trade-offs that regulators face.
Summary: Big Bank of Japan coming up!! As world markets brace for more news, The Indicator describes how changes to Japan’s yield curve control could create ripples throughout financial markets. Our accompanying exercise works through a graphical exercise to strengthen students’ understanding of the yield curve, especially when “kinks” appear…
Summary: The Indicator’s first “Beigie” Award of the year (best entry into the Fed’s Beige book) goes to the Atlanta Fed! The Sixth District described that firms are reverting back to “just-in-time” inventory management from the “just-in-case” approach they were taking when facing uncertain supply chains. The accompanying numerical exercise links inventory with opportunity costs.
Summary: The central bank of Ukraine has been working hard to maintain macroeconomic stability in face of extreme conditions. One of their jobs is maintaining a stable currency (hryvnia) as the expensive war wages on. We see how the exchange rate impacts a woman trying to supply crucial medicine to Ukrainians. Students get practice with exchange rate conversions in this setting.
Summary: The bond market is “risky and frisky” and the inverted yield curve is flashing red! The Indicator chats with Campbell Harvey who suspects the yield curve may not be right this time or that “it is so right, that it may be wrong.” Students will visit FRED and examine whether Campbell Harvey’s suspicion is true…
Summary: The US will face a shortage of thousands of doctors in the next decade. This does not bode well for a growing and aging population. The Indicator explores how changes in funding for residency slots in the 1990s has been a driver of this problem. Our accompanying exercise applies simple supply and demand to this context.
Summary: Lithium-ion batteries have revolutionized the way we use and store energy. They are a key component in EVs and many of the devices and technologies we use every day. But battery fires, specifically on cargo ships transporting all of these items, are a growing risk. The Indicator speaks with an insurance professional as well as a fire expert on this this dangerous, high temperature “thermal runaway” situation. Students will think through how this risk affects the costs of production
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