Carleton College-Spring 2000

Sidney L. Jones

ECONOMIC POLICY DECISIONS

TOPIC 1: Framework of Economic Policy Decisions

Session 1: Tuesday, March 28

Economic Policy Goals and Trade-offs

Schultze: Introduction and Memos 1, 2, 20, 21.

Stein & Foss: 4-13; 36-37; 262-63

Session 2: Thursday, March 30

Demographic Trends and Economic Policies

Jones: Squaring the Population Pyramid (background)

Stein & Foss: 110-11; 114-31; 136-47; 168-69; 240-49; 258-59.

Session 3: Tuesday, April 4

Federal Executive Office and Economic Policies

Jones: 'The Role of Executive Office Task Forces," The Development Of Economic Policy (272-298).

Jones: "The Role of an Economic Policy Adviser," Public & Private Economic Adviser: Paul W. McCracken (41-78). (background)

Session 4: Thursday, April 6

Congress and Economic Policies

Jones: "The Role of Congressional Hearings," The Development of Economic Policy (251-71).

Caiden: "The Politics of Subtraction," Making Economic Policy in Congress (100-28).

Session 5: Tuesday, April 11

International Economic Institutions

Jones: "Cooperation and Competition in an Integrated World Economy," Zeugen Des Wissens : 703-38.

"Sisters in the Wood," The Economist (October 12,1991): 5-48. (26 pp.)

TOPIC 2: Domestic Economic Issues

Session 6: Thursday, April 13

Economic Cyclical Conditions and Outlook

Schultze: Memos 3,5,6,7.

Stein & Foss: 16-23; 26-33; 182-85.

Session 7: Tuesday, April 18

Inflation Issues

Schultze: Memos 11, 12,13

Stein & Foss: 202-03; 252-57.

Session 8: Thursday, April 20

Employment Issues

Schultze: Memos 14,15

Stein & Foss: 38-41; 84-101; 104-09; 162-63; 186-87; 190-201.

Session 9: Tuesday, April 25

Productivity, Saving, and Investment

Schultze: Memos 4, 22, 23, 24, 25

Stein & Foss: 54-65; 68-81.

TOPIC 3: International Economic Issues

Session 10: Thursday, April 27

International Monetary Issues

Schultze: Memo 10.

Stein & Foss: 266-69; 274-77.

Little and Olivei: "Rethinking the International Monetary System: An Overview," New England Economic Review (November/ December 1999):3-24.

Session 11: Tuesday, May 2

Trade and Investment Patterns

Schultze: Memo 9.

Stein & Foss: 160-61; 270-73; 278-79.

Chapter 7: "The Benefits of Market Opening," Economic Report of the President, 1998 (215-36).

Session 12: Thursday, May 4

Trade and Investment Policy Issues

Chapter 7: "The Effects of Market Opening," Economic Report of the President, 1998 (236-60).

Thinking About Globalisation: Popular Myths and Economic Facts," The Economist (October through December 1997): 1-19.

TOPIC 4: Fiscal Policies

Session 13: Tuesday, May 9

Fiscal Policy: Budget Issues and Trends

Schultze: Memos 18,19.

Stein & Foss: 208-23.

Session 14: Thursday, May 11

Fiscal Policy: Tax Issues and Trends

Schultze: Memo 26

Stein & Foss: 224-29.

Kantowicz: "The Limits of Incrementalism," Journal of Policy Analysis and Management (No. 2 1985): 217-33.

Session 15: Tuesday, May 16

Fiscal Policy: Deficits and Surpluses

Jones: "The Political and Social Economy of Debt and Deficits," in The Federal Deficit: Where Do We Go From Here? (1988):63-97.

Stein & Foss: 230-37.

TOPIC 5: Monetary Policies

Session 16: Thursday, May 18

Monetary Policy Goals and Tools

Schultze: Memo 16.

Stein & Foss: 42-45; 174-77; 188-89.

Federal Reserve System: Purposes & Functions (1994): 1-32.

Session 17: Tuesday, May 23

Monetary Policy Options

Schultze: Memos 8,17.

Stein & Foss: 204-05.

Federal Reserve System: Purposes & Functions (1994): 33-69.

Session 18: Thursday, May 25

Monetary/ Fiscal Policy Links

Kohn: "Policy Targets and Operating Procedures in the 1990s," Federal Reserve Bulletin (January 1990): 1-7.

Tobin, "The Monetary and Fiscal Policy Mix," Economic Review, Federal Reserve District Bank of Atlanta, (August/ September 1086): 4-16).

Kretzmer: "Monetary vs. Fiscal Policy: New Evidence on an Old Debate, Economic Review, Federal Reserve Bank of Kansas City (2nd Quarter 1992):21-30.

TOPIC 6: Government Role in the Economy

Session 19: Tuesday, May 30

Government Economic Planning and Controls

Schultze: "Industrial Policy: A Solution in Search of a Problem," California Management Review (Summer 1983): 5-15.

Reich: "Why the U.S. Needs an Industrial Policy," Harvard Business Review (January/ February 1982): 74-81.

Jones: 'The Lessons of Wage and Price Controls," Canadian Business Review (Summer 1974): 12-16.

Leontief: "National Economic Planning: Methods and Problems," Challenge (July /August 1976): 6-11.

Session 20: Thursday, June 1

Government Regulatory Policies

Schultze: Memos 28 and 29.

Stein & Foss: 150-53; 260-61.

Jones: "Government and Business: Beyond Regulation," in Economic Deregulation: Promise and Performance (1988) 95-117.