Presidential Elections

Having moved the club forward in a new, positive direction over the past two semesters, Sergio Campos is stepping down as president of our club. He will still be an active member, but his leadership will be missed. This does, however, create an opportunity for any students seeking a leadership position in the club. 

Thankfully, three members of the club have stepped up and decided to run for the Fall 2013 semester: Moises Mayora, Brian Hurst, and My Pham. Whichever candidate wins, they each have the opportunity to further integrate the club with the economics department and further establish an organization that offers value for future and current members alike. 

For those interested in voting, you can submit your vote at the ballot box located in DMH room 139 on both May 8th and 9th. Please bring a valid student ID card in order to be eligible to vote.

 

New Events Schedule

Great news, club members!

We have officially finalized our events schedule for the Spring 2013 semester. We’ll be doing many different kinds of events, including some we’ve never done before, that are sure to make this semester a memorable one.

For our first event, we will be attending a provocative lecture on campus and encourage everyone to come out and join us. Afterwards, free pizza and beer afterward will be provided at Flames Eatery & Bar.

Click the link below for more information-we hope to see you there!

http://www.facebook.com/events/152874744868923/

Warren C. Gibson on GDP: Who Needs It?

Warren C. Gibson, a current professor of economics at San Jose State University, has much to say on the recently revised quarterly GDP growth figures.

“The Commerce Department releases preliminary quarterly GDP growth
figures and then releases revised figures later. This is
understandable. But I hadn’t realized how far back they sometimes go
with revisions as reported in today’s WSJ: http://blogs.wsj.com/economics/2012/07/27/current-recovery-second-slowest-postwa\r-rebound/

He then goes on to add: “the most significant change was for 2010. The first two quarters are now listed as +2.3% and +2.2%, revised down from nearly 4%. The full year was revised down from 3.0% to 2.4%. It’s scary that so much weight is attached to numbers that may be revised significantly two years later. This recent report reinforces the criticisms of GDP in my Freeman article, “GDP, Who Needs It?” http://www.thefreemanonline.org/features/gdp-who-needs-it/

Social events poll.

When we’re not cramming for tests, catching up on readings, and helping one another with our classes we also like to have some fun. Because afterall, isn’t college about creating great memories as well? Our club hasn’t forgotten that. That’s why answering this poll is important. So please take the time out of your busy schedules to help us choose a location.

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Federal Reserve Tour: San Francisco

Unsurprisingly, the Federal Reserve Bank of SF turned out to be locked up tighter than the Gringotts Wizarding Bank. Upon arriving, we were quickly shuffled through the front entrance with great seriousness. Security might have mistaken us for the occupy protesters camped outside instead of college students. After waiting in the room for a while, our very kind, and funny tour guide got us through the TSA caliber screenings to finally begin the tour.

She then took us through the many fascinating aspects of our money system. Employees were counting, sorting, and moving crates filled with an unbelievable amount of Federal Reserve notes that made for quit an impressive display. We were then brought into a room that contained the most complete collection of U.S. bills in the entire country. The tour ended with an interactive room that gave us the chance to understand many of the intricacies of monetary policy. Even see a few counterfeit bills in the process.

Josh Tidwell

After witnessing more money than any of us will probably make in our lifetime, we decided to grab some much needed food. Our choice was Tommy’s Joynt. A restaurant dedicated to meat lovers everywhere. There’s a reason this place has been around for almost 30 years and it was just the comfort food we needed to finish off the tour.

Stay classy everyone.