New book by Roger Farmer

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Professor Roger Farmer’s new book, Prosperity for All: How to Prevent Financial Crises, was published this month by Oxford University Press.

The book is available on Amazon.

Learn more about the book on his website.

In my book Prosperity for All: How to Prevent Financial Crises,I draw on evidence not just from the 1930s, but also from later decades, to build a theory that accounts not just for depressions, but also for stagflation. Unlike Keynes, I do not conclude that more government spending is the right way to cure a depression. Instead, I argue for a new policy in which central banks and national treasuries systematically intervene in financial markets to prevent the swings in asset prices that have such debilitating effects on all of our lives.

UCLA Economists awarded NSF Grants

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John Asker won an NSF Grant entitled “Market Power and Resource Allocation” to examine how the global oil cartel OPEC impacts productive efficiency.

Denis Chetverikov and Zhipeng Liao also won an NSF grant entitled “Cross-Validation for High-Dimensional and Nonparametric Models in Econometrics” to study how to select a smoothing parameter for Lasso estimators that are commonly used to estimate high-dimensional models using “big data” and machine learning techniques.

 

 

Congratulations 2016 Scoville Teaching Award winners

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The department would like to congratulate the 2016 winners of the Warren C. Scoville Distinguished Teaching Award for excellence in undergraduate teaching.

Spring 2016
Tomasz Sadzik – Econ 106G “Introduction to Game Theory”

Winter 2016
Jay Lu – Econ 148 “Behavioral Economics”

Fall 2015
Lee Ohanian – Econ 165 “History of American Capitalism”

Congratulations Class of 2016!

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The Department of Economics congratulates our 2015-2016 degree recipients. We are proud of you for your accomplishments and wish you much success in your future endeavors.

We would like to extend our warmest thank you to Mr. Steven Laub for his keynote speech at our 2016 Commencement Ceremony on June 11 at Pauley Pavilion.  Mr. Laub recently retired as President and CEO of the Atmel Corporation, a leading technology company. To view Mr. Laub’s speech, please click here.

Summer Classes

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New freshmen:
Econ 1 Principles of Microeconomics. Sessions A and C
Econ 2 Principles of Macroeconomics. Sessions A and C

Transfer students:

Econ 11 Microeconomic Theory, I. Sessions A and C

Econ 41 Statistics for Economists. Session A

Upper division courses required for all majors:
Econ 101 Microeconomic Theory, II. Sessions A and C
Econ 102 Macroeconomic Theory. Sessions A and C
Econ 103/103L Introduction to Econometrics. Session C

Upper division electives:
Econ 106F Finance. Sessions A and C
Econ 106G Introduction to Game Theory. Session A
Econ 106P Pricing and Strategy. Session C
Econ 122 International Finance. Session C
Econ M134 Environmental Economics. Session C
Econ 160 Money and Banking. Session A

Women Working Longer: Labor Market Implications of Providing Family Care

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By Kathleen McGarry and Sean Fahle

The labor force participation rates of women have risen dramatically over the past several decades. Much has been made of the increase in the numbers of women with young children who are now participating in the labor market despite the demands on their time at home. At older ages, women face similar competing demands on their time in the form of care for elderly family members. Due to increasing life expectancy, women who are now in their 50s and early 60s are more likely than ever to have a living parent and are thus more likely to be at risk of needing to provide care. In this chapter, we analyze the prevalence of the provision of long-term care for a representative sample of women in their pre-retirement years and look to see how this caregiving affects employment. We find a significant positive trend across cohorts in the need to provide care and a significant effect of caregiving on work, with caregiving reducing the probability of work by just over 8 percent and the number of hours worked by 4 percent. Our cohort analysis points to a growing impact of caregiving over time and suggests that the lack of affordable long-term care options can have a substantial impact on employment rates.