Thursday, October 1, 2009

Modesty, Nobel Prize, AEA survey, and salaries.

Gilles Saint-Paul tells us that economists should remain modest. After all, it's not our job to forecast crises. But, should we be able to recognize bubbles when they're happening?

The Nobel Prize in Economics announcement is coming soon! Who will it be? I note heavy favoritism in that list towards American economists. I don't know why people seem surprised when I say the top economists are in the United States.

Do you want to know what sorts of things economists agree upon? Try out this survey of AEA economists. There were another two surveys done before the last presidential election which also give insight. I really would have liked to have seen questions on single-payer health coverage and the auto industry, though.

How much can you make with different graduate degrees? Look at the data for starting and mid-career salaries for different majors. Economists have their median salaries double from starting to mid-career. Nice!

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