Maximizing Economics Students

I have a class that meets Monday, Wednesday & Friday each week from 12:30p-1:20p. At the beginning of this class there is a quiz of five questions on the readings for that day's lecture (Approximately 30 quizzes for the semester). The lowest 10 quizzes are dropped & there is usually anywhere from 1-2 pt curve per quiz with an additional +1, if you provided a face pic for the professor's seating chart. So, clearly all you have to do is show up for the quiz, get 2-3 questions correct on 20 of them and you have a perfect quiz score for the semester.

Now, add in that the professor also posts his notes for the lectures and the PowerPoint presentations that he uses to teach the class. They are cute slides and help convey the material, but the professor himself is rather monotone.

What would be the expected result of the  combined quiz requirement and the note/PowerPoint benefits in a class full of economic students? The result is that a majority of the class decides to leave after the quiz. This allows them to maximize their time, if they a) value leisure over class time, b) have other class work to complete, or c) any other item that the opportunity cost of missing out on would exceed the benefit of staying in class.

The professor, who is a PhD student, should think about writing research on this subject as he has test subjects in front of him...briefly...daily.

Exhuming Malthus

Here we go again.

Slate has a good article on the forever-interest in the ideas of 18th century economist Thomas Malthus, particularly in the realm of fiction, specifically with regard to Jonathan Franzen's Freedom. To describe Malthus' central idea on one foot: human population grows exponentially, while natural resources grow arithmetically. The former will eventually outstrip the latter, leading to a population bomb that will detonate and obliterate us all.

No matter how many times Malthus is refuted, his ideas linger. Ultimately, Malthusians of all stripes are defined by their suspicion, if not hatred, for civilization. Malthus was in the news recently, thanks to the Neo-Malthusian nut who took hostages at the Discovery Channel earlier this month. His inspiration? A novel: My Ishmael, by Daniel Quinn.

It almost makes you miss the influence of Karl Marx.

(Mirrored on Cultural Minefield.)

I Think I Need a New Eyeglass Rx...

...because I just read this:

President Obama said Friday that if the midterm elections become a referendum on which political party has the most effective agenda to improve the economy, rather than a decision on its current state, "the Democrats will do very well."

And if the midterm elections become a referendum on which political party has the juiciest (and gayest) sex scandals, it will be a Republican landslide. Unfortunately for the Dems, the midterm elections will be a referendum on three economic issues: the financial and auto bailouts (this being the first election since), the stimulus bill (ditto), and unemployment. Oh, and health care.

Also, this is funny:

Obama highlighted several new economic proposals this week, including business tax breaks for research and investments, that Republicans have said are designed chiefly to appeal to voters this campaign season.

Republicans, please. Targeted tax breaks that purchase discrete and organized blocs of voters? Your lily-white consciences must be scandalized by the very notion.