Info Sessions Today

Hi Econ Students,

There are 2 different information sessions today that you may be interested in 

1. Are you interested in a Masters or PHD in Economics? 

This is your opportunity to hear from our very own Economics Masters and PHD Students! They will tell you what the experience is like, the level of difficulty, and how it compares to their undergraduate studies. There will be a variety of students who came from Simon Fraser, University of Waterloo, Windsor, and York! Ask them your questions, and they'll be happy to answer them!

this Q&A period is: Today in HH 235 @ 5:00pm 

2. Also for those that are interested..

Professional Development Workshop for all Arts students!

What: Workshop on Personal Financial Planning Tips
Who: David Kohler - a part-time instructor at UW, and a full-time instructor at Conestoga College in the School of Business 
When: November 21 from 3:30-5:00 
Where: TC 2218A

There will also be information regarding the Post-grad Financial Planning program at conestoga.

Thanks, and hope to see you there!

Economics Society

King St. Tour (III)

The Nobility of the Economics Society executive would like to cordially invite you to partake in a tour of Waterloo's most royal avenue. At this grand affair we will be consuming tankards of golden ale and discussing the economic issues of the day. 

Our procession shall commence at the Huether Hotel at 8pm on Thursday November 8th for a sampling of the ales, lagers, stouts, ambers and blonds from the royal brewers at Gold Crown. There will be feasting and festing for one and all.

The schedule for the festhalls that are to follow the Huther are not set, as of yet. We shall provide further details in the near future.

UPDATE:

8:00- Huether Hotel
9:00- Mcmullans
10:00 - Chainsaw

We will be meeting at South Campus hall at 7:30 to head down to the huether together. You have the option of meeting us there or at the bar, feel free to join us at one of the other bars if you cant make it out before 9:00.

for t-shirts:

somebody will be in the office all day today and tomorrow. the t-shirts are 15$. If you have a t-shirt from the last king st tour then feel free to just wear that one.

You need a t-shirt to participate!

EconSoc Social

Hey guys! the semester is pretty well underway and midterms are fast approaching. Want to get your mind off it?

Come out to the EconSoc social at Frontrow (in the plaza) for some complimentary appetizer and snack platters and a good time with EconSoc. 

Meet other people in Econ and have deep fired deliciousness and beers with them. For newer members come and meet the exec team, we're fun!

This event is all ages, and non-alcoholic beverages will be provided.

Hope to see you there!

When:
Thursday Oct 11th, 6-9pm

Where:
Frontrow

Seminars and Guest Speakers in Economics

Information about the upcoming seminars related to Economics.

Seminar #1

Who: Prof. John Knight (University of Western Ontairo)

When: Sept 28 @ 3:30pm

Where: HH373

Research Interests: 

•   Financial Econometrics

Seminar #2

Who: Prof. Bradley J. Ruffle (Ben-Gurion University [Israel])

When: Oct 5 @3:30pm

Where: HH373

Research Interests: 

•   Experimental Economics

•   Behavioral Economics

•   Industrial Organization

•   Economics of Religion

Seminar #3

Who: Prof. Ruqu Wang (Queen's University)

When: Oct 12 @3:30pm

Where: HH373

Research Interests

•   Auctions

•   Mechanism design

•   Dynamic games

•   Industrial organization

•   Behavioral economics

Graduate School Information Session

Welcome Home!

Economics students, young and old, WELCOME BACK!

We hope you are all settled in and ready to study hard (read: party hard). We know from personal experience university life just isn't the same without great friends and a great time. We will however be holding some academic events from time to time and we strongly encourage you to come out to those as well!

You should probably join our Facebook Group if you haven't yet already. It will be the place where we post events and announcements! You can also meet some really awesome people in your classes and maybe make a friend or two. You can also connect with me directly on Twitter! All the links are along the right.

We hope you have a super fantastic year and also hope to see you at one or more of our events! We will leave you with this little quote, it's not meant to discourage you just be somewhat funny.

Brought to you by the UW Economics Society.

Photo: Maple Path by Aunt Owwee

UW Economics Society Wishes You Good Luck!

It's that time again! On behalf of the Economics Society at the University of Waterloo, we want to wish you good luck on your exams!  Even though our hero, Keynes, thought education was a waste of time we paid good money for it!  @uWaterlooEcon will be tweeting encouraging quotes about hard work, perseverance, learning and personal growth to keep you going. There will also be a few interesting articles for your study break!

For those of you taking ECON 402 this term we feel your pain (aside: I myself couldn't handle the strain on my brain). For those taking ECON 311, we are sure you are regretting that choice.

If you aren't in Economics, that's OK. You will probably be coasting through your exams. Just kidding! In all seriousness, we are all screwed.

Have a fantastic break and see you in the Fall!

Larry Smith Interview by Forbes

Just out today folks! While reading through my RSS Feed look who showed up! One of our beloved professors from the Economics Department. The article is here via Forbes:Why You Will Fail to Have a Great Career: The Interview

After you read that you might also want to check out the Prof Profile we did on him in the winter term! Prof Profile: Larry Smith

Just in case you missed it the first half a million times, the video is embedded below for your convenience.

Pints & Profs

For our last event of the term we are going to Molly Blooms... with the profs!

The purpose for this event will be similar to that of our Prof. Mixer last term which was a huge success. Again, it is going to be a great way for students to meet and get to know their professors outside of a classroom environment.

This event is going to be held July 6th at 5pm at Molly Blooms Pub in the University Plaza.

This is going to be a casual drop by sort of event and we will provide some delicious pub snacks, the beer is your responsibility. Hope to see you all there!

Twitter Feed

UW Economics Society presents our Twitter feed from this past week for all you interested economics students!  This isn't a complete list of the great links we shared but some of the best brought to you by yours truly.  For the complete up to date links you are going to get on twitter because where else will you always find interesting things to read while waiting for your next class or wasting time before starting your next paper?

I hope you guys had an awesome long weekend and hope to talk to you on twitter (@uWaterlooEcon).  Again, if you have any suggestions for content let me know!


#economics
Profiting from the Poor!  via @HarvardBiz
The Marriage Penalty  via @WSJ

#innovation
What can be learned from the watch industry?  via @IXchat
When "Creative Destruction" Destroys More than It Creates  via @HarvardBiz
Nirmalya Kumar: India's invisible innovation  via @tedtalks #TED
Innovation Battle – Engineering versus Marketing  via @IXchat

#education
Study on non-tenure-track economics Professors in the US  via @timeshighered
How Learning Analytics Can Be Used To Improve Education via @HuffPostEdu
Canada’s hunt for foreign students just got fiercer  via @globeandmail

#careers
Recent grads: 10 things to leave off your resume  via @USNewsEducation
How Extremely Successful People Turn Obstacles Into Assets via @Forbes

Robbing Banks = Bad Idea?

UW Economics Society presents our take on robbing banks.

University students in Quebec are crying foul over tuition hikes, so one (or more) of them may be tempted to rob a bank.  In fact, you may also be tempted to rob a bank because as an economics student you know that bank bailouts resulted in a moral hazard problem for the big banks and want to get back.  Easy money, it's just sitting there waiting to be taken, right?  One bank heist will probably net enough to pay off tuition and have some left over for alcohol and we all know university students love alcohol.  Facebook proves this point multiple times a day.  What you and fellows of your persuasion would be overlooking would be this journal article published by dreaded economists.

Economics the dismal science strikes again!  Ars Technica published an article about the returns on bank robberies and had some pretty jarring news.  They estimate the expected value of each bank robbery to be half of what a minimum wage worker would make in a year.  It simply isn't worth your time to rob a bank for half a year's minimum wage salary.

Three of my favourite facts include:

(1) an additional person nets you £9000 ($14000 CAD) more all else being equal,
(2) bringing a gun nets you £10000 ($16000 CAD) more all else being equal and
(3) one third of all robberies fail entirely.

For the full details click through, Economists demonstrate exactly why bank robbery is a bad idea.

Twitter Feed

Another week another Twitter Feed brought to you by the UW Economics Society for all your economics needs.  I think subconsciously it was career-theme week in my mind.  I found some really great an interesting reads around town.  I did notice however that I get my information from too limited a source pool.  This coming week I will broaden our horizons and try to pull from different places!

Remember to follow us on Twitter even more goodness (@uWaterlooEcon)!


#careers
Finding your weaknesses via @Inc
Fending Off the Creeps: How to Avoid Sexual Harassment via @Inc
Power of Consistency: 5 Rules via @Inc
How to make the most of an imperfect job situation via @HarvardBiz
Do people really make a living doing what they love? via @Forbes
Don't Like Your Job? Change It (Without Quitting) via @HavardBiz
Turning Passion into Action via @the99percent
Embracing Risk in Career Decisions via @HarvardBiz

Presentations

UW Economics Society presents a primer to making presentations!

View more presentations from Ethos3

I know what you Waterloo students are thinking, a presentation about presentations?  Who doesn't love a little meta?  It's betta with meta.  We are going to be curating a list of awesome links to help you strengthen your presentations and make life awesome.

Tips from Around the Web
Questions to Ask Yourself Before a Presentation
How to Format Your Data, Choose the Best Chart
10/20/30 Rule for Pitches to Venture Capitalists by Guy Kawasaki
Presentation Pizzazz: Keep Your Audience's Attention [VIDEO]

Presentation and Communication Blogs
Power Presentations
Decker Communications
Presentation Zen
SlideShare

We will be adding more articles and tips on how to make your presentation stand out as they come in!  Be sure to bookmark for updates.

Last updated August 22, 2012.

Cost of Friendship

UW Economics Society presents some commentary because I know you Waterloo Economics students are eager for some Monday thought-provoking content!

Scrolling through my RSS Feed today and I came up with this little article via Freakonomics, The Cost of Friendship.  The working paper examines the venture capital industry, how friendship plays a role in who we choose to work with and the costs/benefits of such choices.  Economics is all about choices and this paper really highlights that fact!  The most interesting finding, "The likelihood of success drops by 22% if co-investors attended the same undergraduate school."

The study makes use of various dummy variables (zeros and ones) such as gender, educational background, ethnicity (minorities) as well as other variables to determine success of investments called performance variables.  They had a fairly large sample that included "3,510 venture capitalists that invested into 11,895 different portfolio companies from 1975 to 2003."  I know there is a good story somewhere about the Research Assistants that sorted through it all.  

The authors used "probit regressions to fit models with binary dependent variables."  Oh probit!  We don't learn too much about probit in ECON 321 or ECON 421 even.  It seems like a valuable tool to have in our toolkit, especially in marketing research!  However, you can take the initiative to learn it using ECON 422 and ECON 472.  Perhaps now taking those courses won't seem so abstract and theoretical if you can read about an interesting application.  If you are interested you can get the article FREE from our lovely university.  Head on over to our library and Connect from Home to access the NBER Working Papers.

NBER WORKING PAPER SERIES

THE COST OF FRIENDSHIP

Paul Gompers

Vladimir Mukharlyamov

Yuhai Xuan

Working Paper 18141

Twitter Feed

The UW Economics Society presents another week in Twitter (@uWaterlooEcon)!  I know you Waterloo University Students are hungering for something to read.  We have some pretty awesome links found throughout the week so if you are bored or procrastinating you might want to read some of them!  My personal favourites include how people are working too much at work via Harvard Business Review!

My least favourite one (shocker!) is by GOOD Magazine.  I believe it is a clear example of sampling bias but is still a good read nonetheless (pun intended, tehe).

More after the break!

#economics

Romney RIght on Firefighters?  via @mattyglesias

'Dismal Science' Gets Riveting via @TheStreet 

Sweden incentivizing recycling using songs  via@freakonomics

Economics + Food!  via @freakonomics

Germany’s Haven Status Fades as Crisis Bill Mounts: Euro Credit via @BloombergNews

US Faking Economic Data?!  via @BloombergView

Property taxes vs Tax land? Whats the difference? via @mattyglesias 

College not about learning via @Noahpinion

#uwgrad2012

Congrats to all the University of Waterloo new graduates today!  Shout out to those ones in economics (tehe).  This song reminds me of graduation because of the feeling it evokes.  It's the sense of new beginnings and excitement, very similar to starting at UW!

Anyways enjoy!  I posted the acoustic version to mix it up a bit.  I love Janelle Monáe.

Twitter Feed

Here's a rundown of all the interesting articles we found throughout the week!  For all the awesome links we share you can follow us on twitter @uWaterlooEcon!

My personal favourites are marked with a * be sure to check 'em out. haha.  -- Eric

#economics

Gaming Industry Seeks Central Planner via @Slate

Ghana and Financial Literacy via @Freakonomics

How small businesses specialize  via @Inc

How transit cuts hurt long-term unemployement via @mattyglesias

Taxes are BAD?!?  via Supply-Side Liberal

Surgeons' Pay: Perception vs Reality  via @Freakonomics

The World Bank Fights Corruption with Shame  via @BW

*Social Media Listening + Finance = 44K in a week!  via @Radian6

Pepsi and #Economics  via @mattyglesias

'Big Data' is calling your econometrics skills!  via @Inc

Click through for more!

Something Awesome

UW Economics Society presents something awesome (via YouTube and GOOD Magazine)

I know University of Waterloo students need a mind-break!

In a time where there's a free flow of information why is education so static?  For me, this video answers some of those questions.  The next level of awesome this video brings is how it references collaboration.  That very word is in our mandate, coincidence?  I can see words from the future...

The video suggests we could become more motivated to learn by using video games (not something new).  I personally want more games in classrooms but not Angry Birds.  The physicists would have you fooled, you learn nothing in that game!  The best part of the entire video, however, is when Dr. Sugata Mitra asks if math will become a sport. Haha!  There are many good ideas in this video and you might want to keep it in mind while sitting in class.  Are you learning?  Are you motivated to do so?

Experience Exchange

UW Economics Society presents some commentary!

Waterloo Economics students you must watch the above video to fully understand the awesomeness I am about to sell you.  Can you imagine not having your Ye's sushi?  Even the iPads are gone?!  Why would the government do this to those businesses and its citizens?

The Argentina government claims to be stimulating local businesses and industries but the article shows at least some businesses and employees hurt.  At the heart of the story is Argentina's trade balance.

What is a trade balance?  What does that have to do with a trade surplus and why is Argentina so interested in holding it?  The video mentions the resulting deficit is structural, what does that mean?  How and why does Argentina use it's surplus to buy fuel?  This seems very close to the idea of "Buy American" except enforced by a government, why does the Argentina government believe its necessary?

There are just so many questions but all the answers and more can be found in a course, ECON 231 Introduction to International Economics!

You should seriously consider taking ECON 231.  If you are really interested in the topics covered in this video you may also want to consider ECON 436 and 488.

My other blog post about ECON 231 Sharing our Loonie. Check it out! 

King Street Tour

Hey University of Waterloo Students!

The UW Economics Society invites you to our spring term "King Street Tour." It is scheduled for the 31st! Come out and get a chance to socialize and to meet your fellow economists for some drinks, good times and conversation!

Our route 
Meeting at SCH at 7:30pm
Heuther Hotel Patio: 8:00pm-9:30pm
Embassy: 9:30pm-10:30pm
Chainsaw: 10:30pm-11:30pm
McMullans: 11:30pm-2:00am

We'll be selling T-SHIRTS in the UW Economics Society Office in Hagey Hall 128 - come get one anytime tomorrow or when we meet up!

Check out the Facebook event and let us know you are coming. UW Economics Society King Street Tour

Assuming you have the t-shirt, Were going to have free food for you guys at Heuther, free cover/line bypass at Embassy, VIP section and cheaper food/cheap drinks! Line bypass at chainsaw with cheaper pitchers and food, and discounts on food at Mcmullans! You need to show the bars your shirts if you want the discounts/bypass and free cover. See you guys tomorrow!

Games Night!

The UW Economics Society is hosting a Games Night

*May 24 @ 7 pm in HH124*
ATTN: date has been changed to thursday!

We will be playing some good old fashioned board games with your fellow Waterloo econ students! We will provide snacks and refreshments. Games will include: Monopoly, Settlers of Catan, cards, Risk, etc. If you have a specific game you want to play, bring it!

Facebook Event
UW Economics Society Games Night

Can't make it out?  Check out our next event in the making: King Street Tour

Library Help

UW Economics Society Recap!

If you missed out on the super informative session on CANSIM and ODESI with the Economics Librarian Sandra Keys we have got you covered!  Our website has what you need to complete your Senior Honours Essay or Economics other projects!

The relevant links are below:

Basic Instructions on Retrieval

Basic Instructions on Files

Subject Guides

Info Session

Economics

Statistics & Data

We plan on having this information session at the beginning of every term so be on the look out if you are interested in a more hands-on experience!

If you have any questions be sure to contact Sandra, she's got your back!  You can also ask me @uWaterlooEcon but I will offer genuine shoulder shrugs and share in your confusion.

Sharing our Loonie

A while back there was some talk about Iceland adopting the Loonie.  I read an article on The Economist declaring that few barriers exist for Iceland adopting the Loonie.  Also for the most part, Icelanders were split down the middle between adopting the Euro vs the Loonie.

There is a link back to the University of Waterloo here!  Robert Mundell, famous for the Mundell-Fleming Model we learn in ECON 202, won a Nobel prize for his work on Optimal Currency Areas.  How is this a connection?  He taught here! 

A-M-A-Z-I-N-G!

How can one country just adopt our Loonie?  What does this mean for Canada?  Where would we find more information about this?  A great place to start is ECON 231. Ah HA! You thought this article would be enlightening but you were wrong!

I have taken ECON 231 with Prof Bloemhof and I enjoyed it.  It's a bit different than the courses we are used to as university students but experiencing something different, new and exciting can't be all bad, right?  If you want more of the regular flavour I have spoken with Prof Blit and he seems like a cool guy.

So if you are interested in Trade Theory and International Economics ECON 231 is offered every term!

Sources

http://www.economist.com/node/21549967

http://en.wikipedia.org/wiki/Optimum_currency_area

http://en.wikipedia.org/wiki/Robert_Mundell