Political Economy of Racism-page1

Political Economy of Racism-page1 - -Micro: o Individual...

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September 8, 2011 Political Economy of Racism Structural vs. Cyclical aspects of the economy. Discrimination vs. Inequality - Discrimination is that someone is picked based on the bias of the employer. - Inequality is someone has less training and experience and not getting picked for those reasons. Outline: - Teaching style & Philosophy. - American Demographics. - What is Economics? - Theory Application: Human Capital Investment. Demographics: - 301.5 Million Americans in 2009 - White = 75% - Hispanic = 15.1% - Black = 12.4% - Asian = 4.4% - Native American = 0.8% What is Economics? - Production, Distribution, Consumption of Goods and Services. - Macro: o Overall economic activity: production, prices, interest rates, employment.
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Unformatted text preview: -Micro: o Individual economic agents: firms, institutions, consumers, (individual markets) Theory Application: Human Capital Investment -Making assumptions about human behavior. -You need to make simplified assumptions in order for them to work. -Assumption of Rationality: o Balancing costs and benefits to maximize personal advantage. o Psychic benefits, not just monetary. o People with a bachelors degree are 84% more likely to achieve judge success. o Its rational to go to college if the benefits the cost are greater than or equal to 0! -Information: -Access: Racial Differences in Attainment: % of attaining a college degree or more: -Asians: 52.3% -Whites: 29.9% -Blacks: 19.3% -Hispanic or Latino: 13.2%...
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This note was uploaded on 11/08/2011 for the course ECON 144 taught by Professor Lisasaunders during the Fall '11 term at UMass (Amherst).

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