Seasonal Employment

Victor discusses FedEx's seasonal employment.

With the holiday season fast approaching FedEx is hiring temporary drivers to meet the increased demand for shipping.

Please read his full post here.

World Series vs. Olympics

Deven discusses how the World Series and the Olympics help to temporarily stimulate local economies. 

There has been much talk about how the World Series is boosting the economy in both St. Louis and Arlington. Thousands of people are buying merchandise and tickets to the games that are selling at over $1,200. With the 2012 Summer Olympics taking place in London; many people are speculating the same kind of economic boost in Europe.

Please read his full post here.

Wasted Time

Katie discusses the amount of time "wasted" during the work day.

The average American worker wastes two hours a day. And, believe it or not, I’m not talking about lunch time. Apparently the two hour timeframe is in addition to the employee’s allowed “lunch time” so potentially we are looking at three hours for which the employer receives no benefit. Accordingly, if you add up all the wasted hours, just the average two per employee, it is costing American employers around $759 billion dollars on wasted salaries.

Please read her full post here.

Dodgers vs. MLB

David discusses the Dodgers' lawsuit. 

Frankly Bud Selig does not want another team like the Yankees or Red Sox to to be exempt participating in the league's revenue sharing system. Similar to how the Long Horn Network doesn't have to share its profits with other teams by having their own network.

Please read his full post here.

Oil vs. Economic Recovery

Katie discusses oil prices and the strengthen/weakening of the economy.

You would think so; however, sometimes low gas prices are linked to a weakening in the economy and should not be seen as a positive indicator of an economic recovery.

Please read her full post here.

Tent City

David discusses a place called Tent City in relation to the government's role as big brother.

Our government has to much influence on our economy and we need to give more power to the corporations by eliminating taxes to give companies a chance to expand.

Please read his full post here.

iTunes = iDemand

Devon discusses the introduction of iTunes into the music industry.

iTunes has made it so easy for us to get the music we want. We don’t have to buy an entire album anymore if all we really want is just a couple songs. The quantity demanded has increased exponentially over the years, because of the increased ability to buy any song you want with just one click.

Please read her full post here.

Nike Shoes For Charity

Victor discusses Nike's Back To The Future Shoe auction for charity.

Nike is a signature brand heightening the paradox of value in their favor. Also having only made 1,500 pairs Nike has added scarcity to the equation; further heightening the value of the shoes.

Please read his full post here.

9/11

David discusses 9/11 and the economy.

Now being an ambitious young man who lives in America I plan on supporting our country's way of life by working towards the pursuit of happiness. In fact I'm willing to pay my taxes on military spending debt...

Please read his full post here.

Hot Dogs & Economics

Victor discusses the different economic systems through an article about a hot dog vendor monopoly.

The mixed side of our economic system crippled her business and its market roots offered no assistance in her closing.

Please read his full post here.

Adam Smith & College Football

David discusses the economy system college football is based upon.

After writing my last post Dirty Money at The U and in this post I realize that college football operates as a market economy that is motivated by Adam Smith's philosophy of worrying about your self.

Please read his full post here.

Laser Help Produce Rain

Alex discusses the use of laser technology to produce rain.

For example if the U.S. was producing at maximum efficiency in agricultural output we could use these lasers to bring more rain to the dryer regions throughout the South West or even in the Mid West.

Please read his full post here.

Irene's Impact!

Katie discusses the impact of Hurricane Irene.

Even in the face of tragedy, there is some benefit. Reconstruction of the damaged areas could provide jobs, especially in construction, for an area that has severe unemployment.

Please read her full post here.

Delis remain open during hurricane.

Victor discusses how some delis remained open during Hurricane Irene and were profitable.

Some other non food related businesses had the opposite outcome of almost no customers. This is probably due to the paradox of value caused by the storm.

Please read his full post here.

Indie stores outraged and the exclusivity of this deal.

Deven discusses the huge success of Jay-Z's and Kanye West's albums.  Please read his full post.

New Nuclear Trash Technology

Matthew discusses the economic impact of a new nuclear disposal technology.

At current companies have to pay large amounts of money to store, and ensure that the spent fuel rods produced by the reactors they run are well contained to prevent radio-active fallout from impacting the area around the storage sites. Now that we have a use for this nuclear trash and we do not have to store it, it will save the companies refining and using enriched uranium a large amount of money each year. This savings translates into the ability for energy prices to be lowered. With the reduced cost to produce it and the larger amount being produced, the supply goes up with a almost unchanged demand. With a higher supply it is guarantee that the cost will drop saving the consumers money. 

Please read his full post.

Oracle vs. Google

Garrett discusses the Oracle lawsuit against Google and the destruction of the Android.

So let's say another smart phone is taken off the market, this makes phones such as the iPhone more valuable. Will this drive people towards iPhones now that a substitute is completely destroyed?

Please read his full post.

Prices at the Pump

Grace discusses the profitability of gas stations in the face of rising gas prices.

I also thought it was interesting that there is so little profit for stations on gasoline. Instead they want to draw customers inside to purchase beverages and snacks. It never occurred to me that the lowest priced gas station could also make a profit this way. If you lose a penny per gallon on gasoline to draw customers in but then sell the customer two sodas and a bag of chips, you are going to make more money than you would have with a higher price of gasoline.

Please read her full post.

Media Piracy

Matthew discusses media piracy.

Also with competition being great amongst these underground media dealers, it keeps their prices down so those that cannot download the material itself can get it for an extremely reduced price at no repercussion to them.

Please read his full post.

Is Apple holding back

Curt discusses the new iPad 2 and could Apple be holding back technologies in order to keep demand high.

Was apple holding back? I think they were, and they are with the new iPad. I'm sure that there are a number of features that the Apple could put on the iPad 2 that they haven't yet

Please read his full post.

iPad2 Cameras

Dan discusses the impact of the new iPad 2 cameras.

But Fast Companydiscusses how businesses will be able to utilize the camera in conjunction with its other features to better themselves. They see benefits for everyone from interior designers to casino pit bosses. 

Please read his full post.

Oscars and the Jewelry

Laura takes an interesting look at the jewelry worn at the Oscars.

When a big name jewelry boutique buys a high value piece of vintage jewelry, money must be transferred. Loans are probably taken out by the jewelry stores and this creates money in the business cycle. Now, when a high regarded celebrity, like Amy Adams, wears these high valued pieces on a highly televised event, like the Oscars, the jewelry line or boutique will gain popularity, demand and publicity.

Please read her full post.

The Oscars

Zach discusses how the Oscars affect the revenue of the best picture nominees.

These movies came out last year but people seem to be advertising them more than when they were released. For example, go home, click your "on demand" button on your remote control, then listen and see what comes to the screen. You will hear "The Social Network", "The King's Speech", "Toy Story 3", and the list goes on. These movies have been out for months yet this company advertises them.

Please read his full post.

Google And The Global Market

Curt discusses how Google's new algorithm will affect the global market. 

An article from cnn.com takes a look at some changes Google has made in the way they select the websites that show up first on their search results. They changed their algorithm in order to get better quality results. This could potentially have a huge impact on a lot of websites, and the people who own and operate those websites.

Please read his full post.

Pirates and prices

Whit looks at how the recent pirate attacks could influence prices. 

Pirates attacked a leisure vessel this week. This got me thinking about how much a modern day pirate could impact the price of any commodity transported by water.

Please read his full post.

Rising Retirement Age?

Alison discusses the possible effects of a rising retirement age on unemployment.

People simply can't afford to stop working any earlier than that, especially since most don't expect to get anything from Social Security. But those people staying in the work force longer could have a negative effect on unemployment.

Please read her full post.

Alexandar McQueen's Fashion Label

Laura discusses fashion’s Alexandar McQueen’s line and how it affects everything from prices to employment. 

With an increase in demand so will the production of McQueen apparel across seas and within the U.S. If the McQueen’s label’s success is fortified by the Met Gala showcase then everything with the name brand will increase in value.

… it would not be surprising to see how many people worked for his company only for the sake of saying: I work for Alexander McQueen. After McQueen’s death it could be possible people quit those jobs due to emotional attachment,

Please read her full post.

 

China's Changing Needs

Whit takes an interesting look at China's shift in import necessity. 

China's rapid urbanization has created a scarcity of land more so than a scarcity of labor. Because of the scarcity of labor China imports land intensive crops and exports labor extensive products.

Please read his full post.

Home Buyer Tax Credits

Alison discusses the repayment of the 2008 home buyer tax credits through the money supply and circular flow.

When the government gave out these loans, it was 'creating' money and injecting it into the economy. This increased the money supply and expanded the circular flow.

Please read her full post.

World's Largest Touch Screen

Matthew discusses the possible impact of touch screen technology in the future.

 This shows that we don't have to limit touch screens to small phones or computer screens and proves we can have creations such as touch screen walls or tables. If this idea catches and is taken by a company and made into such items, the global market could be in for a large shift. 

Please read his full post.

Verizon iPhone. Is it everything we thought?

Curt discusses the Verizon iPhone and it's problems.

There is one large flaw in the iPhone for Verizon as oppose to the phone for AT&T. The Verizon iPhone doesn't allow you to talk on the phone and run apps or the Internet at the same time….They have launched several new ads that make sure everyone is aware of the features on their iPhone.

Please read his full post.

Blockbuster Restructuring

Elizabeth discusses the restructuring of Blockbuster as they try to stay competitive in the video rental market. 

 We were forced to switch our membership to Blockbuster although we had problems with the company in the past. This situation exemplifies what a decrease in the number of sellers will do to demand.

Please read her full post.

Wind vs. Gas

Matthew discusses the rise in the green fuel movement (esp. wind technology). 

This will be a great economical boost for the country, by using thousands if not millions more wind turbines our national dependence on coal and when teamed with the rising popularity of electric cars such as the Chevy Volt reduce the overall dependency on foreign oil. This will help to stimulate the national economy because more of our funds as a nation will be spent and used here within the States opposed to being sent to outside nations.

Please read all of his interesting analysis.

Super Bowl Technology

Curt from Group 5 discusses how the technology used during the Super Bowl has an impact on the future of technology.

The NFL has released a free Super Bowl app not only for the iPhone, but also for phones running Google's Android system. It seems like every major sporting event recently has released their own smart phone app. 

Please read his full post.

Facebook to focus on mobile in 2011

Alissa in Group 1 discusses how Facebook has declared it will focus on mobile in 2011.

The social networking giant, Facebook has proven itself to be highly successful on the web. As the mobile networks continue to improve their systems, so do the apps that they associate with. The innovation and improvements in technology have made it possible for more accessibility on their mobile devices. This increased accessibility will provide more revenue for Facebook as there will be a higher demand for their mobile app.

Pop on over and read her post and leave a comment.

Intel Finds Flaw

Matthew discusses the recall of Intel's 6-series chipsets and the affect on the electronics industry.

With the need for such a major recall Intel is going to lose over a billion dollars in a new chipset, replacing the recalled chipsets, and repairing damage to mother boards and other computer components of the unsuspecting consumers who went out and purchased the new generation of six core processors. This overall will stain the companies image and reliability which will cause a massive drop in sales and a inversely proportional rise in the sales of companies such as AMD.

Stop by and read his full post.

The Elderly and Social Security

Alison from Group 3 discusses Social Security Administration's short falls in the face of inflation.  Below is an excerpt.

Hopefully if more money can be given to the seniors, that change in income will allow them to demand more of the products that they need most. If not, some seniors may have to go back to work in order to pay their bills. If they aren't able to, the economy will only suffer more. 

Please read her full post.

Cold Fusion

Matthew from Group 4 has an extremely interesting discussion of cold fusion's possible impact on the global economy.  Below is an excerpt.

I can see this causing an effect to both the energy market and to the copper market….The end result is not only will this cold fusion reaction cause the price of energy to drop being we have a new, cheaper, and more efficient way of producing it. It will have a trickle-down effect causing a change in the cost for several other materials. So not only will this change the energy market, yet also will change the world mineral exchange. 

Please read his full post.

Vampire Electronics

Garrett from Group 4 discusses the use of a new power cord that lights up when electricity is being transferred.  Below is an excerpt. 

I really don't see a downside to something like this other than that the product is faulty or defective. I mean sure the electric companies might lose some profit here and there, but economically overall it can do nothing but good.

Please read his full post.

Honors Economics Podcasts

We have just updated the blog to include the podcasts the students utilize.  Just a refresher, we have created several podcasts that we've stripped down to the bare minimum theory.  The students' homework is listening to a particular podcast.  The next day will build upon/add to that theory through the discussion/dissection of current events.  Please feel free to listen.

Walmart Moves To Provide Healthier Products

Elizabeth from Group 2 discusses Walmart's new push to provide healthier products.  Below is an excerpt.

The article discusses just how large a change this will be for our society. Walmart is an incredibly important and powerful company. With such a large customer base, this initiative could greatly improve the country's health.

Please read her full post.

Wells Fargo Bailout

Alison from Group 3 discusses how our mixed economic system utilized bailouts during the financial crisis.  Below is an excerpt.

An article in Daily Finance discusses Wells Fargo's increase in earnings and paid back loans. It received a bailout from the government during the financial crisis and was able to pay all of it back, plus increase its overall performance. This showcases the benefits of the mixed economic system the U.S. uses.

Please read her full post.

Does Going To Jail Earn You Money

Zach from Group 5 discusses rapper "Lil Wayne's" incarceration and income relation.  Below is an excerpt.

In many ways stars such as Elvis Presley, Tupac Shakur, and most recently Michael Jackson being dead has caused their stock to rise. The idea of being worth more dead than alive is certainly embodied in these kings of the music trade. But for stars who have plenty of time left in their careers to maximize potential earnings death isn't a great plan. Eccentric rapper Dwayne "Lil Wayne" Carter has found the solution to this problem, instead of dying he chose the next best thing, incarceration, and it's earning him millions of dollars every year.

Please read is full post.

Prospect of Lunar Mining

Matthew from Group 4 discusses the prospect of lunar mining.  Below is an excerpt.

With the discovery of large amounts of water, helium and other rare earth elements on the moon there is potentially new lunar race on the horizon. This race would cause a massive amounts of funding to be transferred from programs in current use by many world governments to this lunar race.

Please read his full post.

Verizon Begins Carrying iPhones

Elizabeth from Group 2 discusses the announcement that Verizon will begin carrying the iPhone.  Below is an excerpt:

How will this affect AT&T when many of their customers have stuck around simply because they want to keep their iPhones? Will the competition between the two carriers drive prices down for the weaker one?

Please read her full post.

Falsified Study Leads To Possible Financial Trouble

Alison of Group 3 discusses the consequences of falsifying a scientific study.

The discovery that Wakefield's study was a lie has an impact on a lot more research than just disease control because it discredited scientific discovery as a whole. It has made the people more wary of scientific publications and developments, especially if they're groundbreaking. If people don't trust scientists, they won't give them funding. If scientists don't have as many resources, they can't work at maximum efficiency, and lack of efficiency means a lack of production of results.

Please read her full post here.

Digital Distribution Overtakes Retail

Easton from Group 4 discusses the digital distribution of games taking over the industry and what could happen to gaming retailers.  Below is an excerpt from this interesting discussion.  If you would like to read more please view his entire post.

Just as Netflix overpowered Blockbuster with its instant to watch online service and low monthly cost, digital distribution will spell disaster for Gamestop. So will digital distribution become the new "norm" of the gaming industry, or will Gamestop continue to retail games as always?

M.I.T. Admissions Going Paperless

Zach from Group 5 discusses how the use of technology is helping or hurting educational institutions (specifically M.I.T.) attempt to go paperless.  Below is an excerpt of his discussion, if you are interested please read his full post.

The decision by M.I.T. to use the iPad technology directly affects paper companies, and Apple Inc. The paper company that the university gets it's paper from will lose money while Apple will gain revenue. The action would not have the power to topple the paper company but in years to come the change by the university can become influential to other universities, companies, and general populations around the globe to become "paperless".

Opportunity cost of more Gulf drilling

Our first class discussion covered the fundamentals of economics including scarcity, opportunity costs and factors of production. Garrett from Group 2 applied these concepts to a USA today article about the Gulf Oil spill. Below is a preview but please visit his post and read the rest of his analysis.

Studies show that deep sea bacteria completely devoured all the gases released from the Gulf oil spill. In USA Today people such as David Valentine of the University of California says that they "expected the methane to persist longer."

If these studies are true is it worth possibly having another Gulf oil spill? Is it worth endangering another ecosystem as well as other states that are dependent on Gulf of Mexico?

The Power of a Brand

The Dallas Cowboys won their final game of the regular season last Sunday which cost them a better position in the 2011 draft. In Monday's Star-Telegram article, Jerry Jones said he was happy with the win.

" I would have rather have the positive of the last-game win than three or four slots in the draft, even though the Eagles were not at full strength."

Is this a smart decision by the owner? Is the opportunity cost of the win better for the team?

I believe the win is great for the team both philosophically and economically. Winning against the long time rival Eagles (even if it was their second stringers) was a statement to the football world that they were not backing down and mailing it in. This helps team's atmosphere in such a tumultuous season. If the Cowboys give the appearance of believing in themselves then the fans will begin/continue to believe, which is the whole point of the business of football...Merchandising your brand! If confidence is communicated it will be received; therefore, driving the demand for such a brand. Yes the win cost them a few spots in the draft (in which they might get the same player if they where in a higher spot anyway) but it propelled their marketing machine forward.

In my opinion, the win will eventually, through Jerry Jone's marketing they will off set the cost of the draft choices or even come out better. The market demand for the Cowboys franchise may have wavered this year but it is still one of the strongest selling sports team in history. You still see people with Cowboys jerseys every Sunday. I am curious to see what some of the marketing financials for the Cowboys look like. What is the percentage breakdown between merchandise, ticket sales, payroll and operational cost of the stadium for one game?