Abbott & Costello Explain Unemployment

Greg Mankiw has a good post using the classic comedy characters Abbott and Costello to explain unemployment.  Good for a laugh and as a teaching tool.

Mankiw's Three Big Questions

Greg Mankiw in the New York Times Economic View column posts the three big questions that are currently perplexing him. They are:

1. How long will it take for the economy's wounds to heal?

2. How long will inflation expectations remain anchored?

3. How long will the bond market trust the United States?

These are good questions, and Mankiw's explanation of why the answers matter are good. If students can understand that these are the important questions to ask, they have learned a lot.

Mankiw's Advice for Obama

Greg Mankiw in the New York Times gives advice to Obama on how to deal with the Republicans in crafting economic policy. In the article he lays out the Republican view of economic philosophy. It is an interesting pieces, but I think it does more to give the ideas of traditional Republicans and not the Republican party in power now.