UCO Econ Club's Excel Workshop
Resources for the Excel workshop can be seen below.
As always, Google is your friend if you're having any issues.... for example
I recently started what I thought would be a small skirmish on Twitter with an old friend and fellow PhD econ student from my Texas Tech days. This is by no means the first, nor last, time we'll do this; It's a funny way for us to catch up. The topic at hand was whether or not CO2 should be taxed. The spat then escalated into a 140 character at a time debate on whether or not CO2 is actually a pollutant leading to global climate change.
One of the most useful subtweets in this debate was the so-called libertarian bet proposal by Kaz (@chris78701). After a crazy start to teaching this Fall semester I am finally putting together my `bet' as well as addressing some other ideas that came up in the Twitter conversation.
That's all for now as I have to prep for class. Cheers.
Resources used in the Interactive Teaching workshop held at University of Nottingham Business School in Ningbo China.
A back-of-the-envelope "economic analysis" of why you should go to the K-State Game
By now you've heard that they are practically giving you the keys to the stadium to go to the Tuesday night game against K-State. Well, they're giving away about $100,000. The question remains, though, is it worth it? Here's a (very) quick look at why you should check out tomorrow night's game. For the more rigorous statisticians out there here are some assumptions I'm making: 1) you get a new draw at winning a prize every time one is handed out. 2) 10,000 students will be in attendance and eligible for a prize 3) I'm not treating hot dogs as a prize. I don't care how hungry of a student you are that's not what is prying you away from the new Torchy's and to the game.
On to the fun stuff, here is what you can expect to win if you go to the game: $6.52.
Here's how I calculated that: Assume you have a 1 in 10,000 chance at winning each prize. Thus, you have a 1/10,000 probability of winning, say, the big prize of $10,000. Multiply that out and you can "expect to win" $1. Or in other words, you would be indifferent about spending a dollar to go to the game if you have a 1/10,000 chance at $10,000 (expected cost = expected benefit). Using this type of logic you can add the expected payoff from each prize and voila you arrive at $6.52.
So, for you to be indifferent between going to the game and pretending to do homework while you watch a livestream of the action it has to be that it costs $6.52 to attend. Here's the kicker, the athletic fee is currently $75 for a semester. Assuming you average the fee across all of the sporting events you go to then you need to attend 11 and a half games for it to be worth your money. So, if you've already been to a few of games then you are well on your way to making this game pay for itself. If not, then make sure to attend this game and a few soccer, tennis, or baseball games. Either way, have a great time breaking a student record. Wreck'em.
P.S. my prediction TTU - 67, K-State - 59
I hope you enjoyed the session this afternoon. Here is the handout from Cal State Los Angeles, "Active Learning for the College Classroom" that was used for the group activities in today's TLPDC session.
Do you know what your learning style is? Here's a great little test (5 mins) to help you learn what type of learner you are. The test also gives you examples and strategies for all of the learning styles
My top three: Interpersonal, Logical-Mathematical, and Bodily-Kinesthetic.
Here is a great interactive video from the WSJ that explains some of the finer details of the new healthcare law.
Based on this video could you: write a normative and a positive economic statement? Distinguish the implications this video has in terms of efficiency and equity?
For our Monday discussion of sports economics I would like you to take a look at a few short articles. My hope is to introduce you to what economic research looks like while at the same time having a little fun.
First off, don't let the statistics intimidate you; I will help to explain what everything means. Just keep in mind that ceteris paribus is an important assumption in economics. As mentioned in class, please print these out and highlight 2-3 sentences in each that you find interesting. You are able to access these articles for free anytime you are on a university computer or using TTUnet wifi. Also, you can log in to ScienceDirect from the library webpage and search for them there if you are not on campus.
What Does it Mean to Find the Face of a Franchise? Can you put a price on beauty? Economists can, and it turns out it even matters for football players (see photo to the left). This article shows that attractive quarterbacks are payed a premium compared to their more battered brethren.
Returns to Education in Professional Football: Is waiting an extra year to go pro worth it? This article describes how much more a collegiate player can expect to earn in their rookie year if they stay in school for one extra year.
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