Getting up to speed on the crisis

Since the beginning of the economic crisis, the challenge with starting an economics course is getting the students up to speed with what has happened in the crisis. In contrast to the teaching before the crisis, students now come in on the first day with lots of questions about what is happening and what will be happening in the economy. The two problems with answering student's questions is that what is happening in the economy is really complex and nobody has a firm grasp on where the economy is going. This second part is largely because the focus and points of worry are changing so completely and so quickly. Think about it. Right now the big point of focus in deflation. Three months ago is was Greece. The history of this crisis is a whirlwind tour of economics.

As I begin to plan for the beginning of another school year, I am looking for articles that can get students up to speed on the current state of the economy. I do not want a big article that tries to cover everything (that is where books come in). Instead, I want an article that has the "signposts" of things students should be aware of and gives them an idea of where the economy is at and the big events that got it there. Today's news analysis in the New York Times by Floyd Norris does a good job of accomplishing this task - short and to the point. Something the students can read in a few minutes and then I can use a class period to take apart and explain.