Archive for the ‘Friedman & Schwartz Aids’ Category

Friedman and Schwartz Aid (335/402)

March 24, 2009

Here is a link to the webpage containing a podcast of tonight’s F&S review session: Mediafire – F&S Podcasts

My comments include critical analysis of Federal Reserve policy, so I want to make two points explicitly.

  1. Because I am proud of my long association with the Fed and have the highest respect for my current/former colleagues there, intellectual honesty demands “going the extra mile” to critically evaluate its performance in the 1930s (as well as to raise skeptical questions about its performance in the 2000s).  “Going the extra mile” is necessary to counter innate bias.
  2. My remarks do not reflect official positions of the Federal Reserve Bank of Richmond.

Posted at 6:14 CDT


Class News (335/402): Overview Periods F/S

March 3, 2009

Dear fellow students,

As Mr. Vaughan is currently flying home to Richmond, I am putting the overview I have made on the blog on his behalf.

Basically, it is an overview of the behavior of the changes in M, v, P and y (and the corresponding movements in HPM, D/C, and D/R) per period discussed in F/S. I thought since I have made it anyway, it might be helpful for you too. It may not be fully complete though, but maybe you can add some stuff yourself.

Good luck studying.

Greetings, Marlous


Friedman & Schwartz Aid (335/402): Podcast

February 24, 2009

Here is the link to the webpage hosting the podcast of tonight’s F&S study session.  Note: the last 15 minutes explore parallels between 1930-33 and 2007-2009 (i.e., the material is interesting – to me at least – but not quiz-able): F&S Study Session: 2-24-09.  Here is a short slideshow I used as an outline for my talk: Great Contraction Slideshow (F&S Study Session 2/24/09).

Posted at 9:24 pm

Friedman & Schwartz Aids (335/402): Exam Essays

February 24, 2009

As mention in class yesterday, roughly 1/3rd of next week’s exam will be an essay on F&S, chapters 1-7.5.  I promised to give you a list of questions and take the exam essay from that list.  The list of prospective F&S exam essays is now in the 335 and 402 Exam Lockers.

Information on tomorrow’s quiz as well as more tidbits on Exam I will be posted throughout the day.

Posted at 11:13 am

Class News (335/402): Extra Credit #1 & Podcast

February 17, 2009

Extra Credit
As noted in class, you can earn a 100 on a quiz by watching the episode of Milton Friedman’s PBS series (Free to Choose) dealing with the Great Depression (Anatomy of a Crisis) and answering questions on the episode.

Here is a link to the episode on Google Video (if you want to watch full screen): Free to Choose: Anatomy of a Crisis.  Here are the questions: Free to Choose Extra Credit Questions.

Here is a link to the website housing a podcast of tonight’s F&S review session: F&S Study Session: 2-17-09

Posted at 10:56 pm

F&S Aid: Study Session Tonight

February 17, 2009

A number of students have emailed asking if there will be a study session tonight.  Yes, at 7 pm in Seigle L006 (same place/time as last week).  You may assume these sessions will continue unless an announcement to the contrary is made.

Posted at 3:23 pm

Class News (335/402): Podcast and More

February 10, 2009

Here is a link to the website housing tonight’s Friedman and Schwartz (F&S) podcast: F&S Study Session: 2-10-09

Here are reading notes for chapters 4 and 5:

The notes for 4 are very detailed; notes for 5 are sketchy.  But each points you to 3  “big picture” take-aways from the chapter.  When you have completed the reading and answered the study questions, take a look at the 3 big-picture questions for each chapter to see if grasp the key take-aways.  If not, be sure to ask me in class tomorrow.   By the way, to make exam prep manageable, I will give you a list of essays like the “big picture” questions for chapters 4 and 5 for all the assigned chapters (except 13, which will not be on exam one).  Then, one will drop on the exam.  So you can start studying by sketching answers to the big-picture questions for 4 and 5.)

Posted at 9:19 pm
UPDATED at 10:34 pm:
If you tried downloading chapter 4 reading notes/F&S podcast without success, please try again.  I believe technical problems have been fixed.  Also, there is another typo (grrrr) — this time in the study questions (chapter 4, #21).  It should say 1893, not 1903.  Hat tip to all who alerted me to typos/technical glitches!

F&S Aid (335/402): Podcast and More

February 3, 2009

Eureka!  The podcast worked.  Here is a link to a page where you can download tonight’s Friedman & Schwartz (F&S) study session: Study Session: 2-3-09. (NOTE: It takes about 30 seconds.)  Again, hat tip to June Kim for going way above/beyond the call!

Caution: Session lasted 80 minutes, but last 20 were discussion of how data trends, financial episodes, etc. from 1879-1897 figure later in the book.  (Alas, there are also some lengthy pauses between questions, a few choppy MDV replies while writing on the chalkboard, several questions that are not restated to clarify responses, a few regrettably earthy characterizations, etc.  Next time I’ll do better.)  If you think 3 hours of me is plenty for one week (smile), here are updated reading notes over chapter 3:  reading-notes_fs-ch-3. They cover session high points.

Finally, in re Further Study, here is a link to a New York Fed primer on gold: FRB NY- Key to the Gold Vault.  Hat tip to Rachel Kleinman!

UPDATE: I received some great questions by email from students unable to attend the F&S session.  Here they are along with my answers: emailed-questions-fs-ch-3.  Going forward, send questions even if you can’t attend.  If I can’t reply, I will answer via podcast!

Posted at 10:16 pm (updated 12:47 am)

Class News (335/402): Podcast Update

January 31, 2009

It looks as if  F&S podcasts will happen!  We will experiment Tuesday night.  I will try to get a podcast on the blog after the session, but there is no guarantee of success.  Please plan accordingly.

Hat tip to June Kim in 402 (pm) for technical support!

Posted at 8:40 am (updated 2:28 pm)

Class News (335/402): Quiz 2 Key/F&S Sessions

January 30, 2009

Here are keys to Quiz #2:

Friedman & Schwartz (F&S) study session is on for Tuesday, February 3rd, 7 pm, Seigle L006 (i.e., same time/place as last one).  I reserved that room at that time for the semester and will conduct study sessions the next few weeks.  [Note: I received email pleas for Monday nights because of conflicts.  I prefer Mondays, but logistics could not be worked out.   I am open to recording podcasts for the blog, but I don’t have the necessary infrastructure/experience.  If someone wants to help – attending sessions, recording me in podcast format, and assisting with uploading – I would look favorably on that effort.  See syllabus on factors used to determine borderline grades.]

Of course, students with conflicts can always ask questions via email or during office hours.

Posted at 1:47 am