Ideas: Wanted: Economics Stories
The Day The Dollar Died
By Harry Chernoff (with due apologies to Don Maclean's American Pie)
A long, long time ago
I can still remember
How the dollar used to make me smile.
And I knew if I had my chance
I'd sell the currency of France
And, maybe, I'd be happy for awhile.
But all our spending made me shiver
With every T-bill we deliver.
Bad news on the doorstep;
I couldn't take one more step.
I can't remember if I cried
When I heard our politicians lied
But something touched me deep inside
The day the dollar died.
So bye-bye, dollar assets good-bye
Sold my Chevy at the levee
Cause my pension ran dry.
Them good old boys were drinking sake to try
Singing this will be the day that it died
This'll be the day that it died.
Did you write Whitehouse.gov
Or have you a Yen to fall in love
If Japan will tell you so?
Now, do you believe in oil and coal
Can China fill our import hole
And can we teach them how to grow real slow?
Well I know the country's fit and trim
cause the jobs are in the Pacific Rim.
We all knew savers lose
Man, I dug not having to choose.
We were living off the almighty buck
We got their goods and they were stuck
But I knew we were out of luck
The day the dollar died.
I started singing...
(Refrain)
Now for ten years we were sure we owned
All the stocks and bonds and mortgage loans
But that's not how it's gonna be.
When we've spent it all like kings and queens
In clothes we bought from The Philippines
The Asians pick the reserve currency.
Oh, and while the king was looking down,
Their central bankers came to town.
Our stocks and bonds were spurned
Those dollars were returned.
And while unions filled their books with Marx
The President said drill in parks
Our thermostats froze in the dark
The day the dollar died.
We were singing...
(Refrain)
Helter skelter in a summer swelter
The equity is gone from your leveraged sheter
Fannie and Freddie are falling fast.
Crash, they landed, but in a new class
Full faith and credit have long since passed
With Congress, in denial, out of gas.
Now the Wal-Mart there has cheap perfume
With imports filling every room.
We all got up to dance
Oh, but we never got the chance.
The consumers tried to take the field
The central banks refused to yield
Do you recall what was revealed
The day the dollar died?
We started singing...
(Refrain)
Oh, and there we were all in one place
Our credit rating in disgrace
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With no time left to start again.
So come on: Al be nimble, Al be quick!
Al, cut rates by 50 ticks
Cause credit is the debtor's only friend.
Oh, and as I watched him on the stage
My hands were clenched in fists of rage
No congressman in hell
Could buy what he would sell.
And as the rates climbed high into the night
To stem the U.S. asset flight
The IMF said, Yes, that's right
The day the dollar died
They were singing...
(Refrain)
I met a girl who sang the blues
And I asked her if we still could choose
But she just smiled and turned away.
I went down to the Medicare store
Where we had spent our dollars years before
But the man there said those dollars wouldn't pay.
And in the streets the children screamed
The seniors cried and the workers steamed
But not a word was spoken
The commitments all were broken.
And the three men I admire most:
Faber, Rogers, and Bill Gross
Were at the forex trading post
The day the dollar died.
And they were singing...
(Refrain x2)
Jim Murphy - Teaching Economics & Classroom Experiments. База данных.
Games That Economists Play
"This website is a resource for instructors of economics who would like to use noncomputerized economic experiments (games) in their classrooms. The bulk of the website consists of an extensively annotated and hyperlinked compilation of more than 113 classroom games, most of which can be played within one class period. The purpose of the games is to help teach fundamental micro and macroeconomic concepts".
Resources for Economists (RFE) -- Teaching Resources
RFE is a great resource for economists, hosted by the American Economic Association. It contains about 1500 links divided into about 100 sections. The Teaching Resources section has a number of useful links. These are divided into sub-sections with brief descriptions for most links. It lists 1,548 resources in 97 sections and sub-sections available on the Internet of interest to academic and practicing economists, and those interested in economics. Almost all resources are also described.
Dirk Mateer
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Aplia Econ Blog - teaching ideas from Aplia
Econstories.tv - well received rap
div.e.q. (diversifying economic quality: a wiki for instructors and departments)
Economics Memes - use "memes" to teach. Мемы уже использовались нами и раньше.
Ed Dolan's Econ Blog - current events for the classroom
Flat World Economics - rap songs for basic economics
Great Ideas for Teaching Economics - ideas from 250 instructors
Movie Scenes for Economics - scenes from movies that illustrate concepts
MusicForEcon - songs with economics themes
MV=PQ: A Resource for Economic Educators - ideas for teaching
NBC Learn - video clips from NBC News
The Teaching Economist (William A. McEachern) - ideas for instructors
TV for Economics - scenes from tv shows that illustrate concepts
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