Theory
Another phrase for "holding other things constant"
The current level of the Fed's Federal Funds Rate (after the September FOMC).
What is 4.00% to 4.25%?
This UCLA professor, who teaches classes including ECON 11, ECON 102, and others, is quite literally the GOAT of the economics department.
Who is Professor Chris Surro?
This renowned event occurred in 1944, which aimed to craft a post-WWII economic plan/vision for the world.
What is the Bretton-Woods Conference?
The President termed April 2nd, 2025 as ______.
What is Liberation Day?
This is the condition under which no individual can be made better off without making someone else worse off.
What is Pareto efficiency?
On Monday, September 29th, the US President met with 4 top congressional leaders ahead of a very important deadline at 12:01 AM, Wednesday, October 1st. What is this deadline for?
What is a government shutdown?
This German economist, closely associated with the Austrian School, is known for his critiques of central planning and his emphasis on the role of entrepreneurship in economic growth.
Who is Friedrich Hayek?
This 1997 crisis began with the Thai baht, spread through Asia, and prompted massive IMF interventions.
What is the Asian Financial Crisis?
What is the People's Bank of China (PBC)?
This “impossible trinity” in international economics states that a country cannot simultaneously maintain a fixed exchange rate, free capital flows, and an independent monetary policy.
What is the Mundell-Fleming trilemma?
The Federal Reserve Governor whom the President is trying to fire.
Who is Lisa Cook?
The latest appointee to the Federal Reserve's Board of Governors.
Who is Stephen Miran?
This 17th-century Dutch crisis, centered around flowers, is often cited as the first recorded asset bubble.
What is the Tulip Mania?
Economic union whereby three current members (Mali, Niger, and Burkina Faso) are on the verge of leaving.
What is the West African Economic and Monetary Union?
In a repeated game, this strategy involves cooperating until the opponent defects, then punishing the opponent forever/to perpetuity.
What is the grim trigger strategy?
Tariff rate on the Philippines following July trade deal.
What is 19%?
The current president of the European Central Bank.
Who is Christine Lagarde?
The implementation of this economic strategy in Latin America during the mid-20th century focused on replacing foreign imports with domestically produced goods and is often referred to as a form of economic nationalism.
What is import substitution industrialization (ISI)?
This Latin American country dollarized its economy in 2000 and remains fully dollarized today.
What is Ecuador?
This Nobel Prize–winning theory suggests that individuals adjust consumption to smooth it across their lifetimes, anticipating changes in income.
What is the Permanent Income Hypothesis (Milton Friedman)?
Q2 Current Account Deficit for the U.S.
What is $251.3 billion/What is 3.3% of GDP?
This Indian-American economist and IMF First Deputy Managing Director is known for work on external imbalances and international finance.
Who is Gita Gopinath?
This 1992 event, when speculators like George Soros bet against the British pound, forced the UK to exit the European Exchange Rate Mechanism.
What is Black Wednesday?
This 1930 U.S. law raised tariffs on over 20,000 imported goods and is blamed for worsening the Great Depression.
What is the Smoot-Hawley Tariff Act?