Number Problems

I know just how Jacqueline Passey feels. I have a recurring nightmare where I show up to school, only to discover that it's the day of the final exam, I forgot that I had registered for the course and didn't show up since the beginning of the semester, and I accidentally registered for a graduate level course way outside my major. The test might as well be in Chinese.

Speaking of which, last week in econometrics, after a long and complicated proof with lots of integrals, summations and various other foreign symbols, the professor called on me to explain what was going on.

"I don't know professor. It's all Greek to me."

A lovely groan was had by all.

Also, be sure to check out the ever elusive Sasha Volokh, who makes a surprise appearance in another one of Jacqueline's comment threads, wherein he provides an intuitive proof of the product rule (which, like Jacqueline, I still can't remember if my life depended on it) and has a good laugh at the expense of macroeconomics. More reason for Sasha to return to blogging, lickety-split.

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I'm glad someone's keeping

I'm glad someone's keeping track of what I post. :) I only mean that "classical" macro, which includes traditional Keynesianism, is false, because it lacks microfoundations -- the Keynesian aggregate functions like Consumption and Investment and so on are specified empirically, with only a casual story about who's maximizing what behind the curtain. This is the macro that I learned when I was in college (1989-93), which, for all I know, is still what they're teaching. On the other hand, micro is all microfoundations, meaning that it talks about people maximizing utility subject to constraints.

Post-Lucas, macro has acquired microfoundations (individual utility functions, specified individual expectations (usually rational), and the like), which makes me much more likely to believe it. So my critique of macro doesn't apply to post-Lucas schools of macro, like, say, real business cycles or New Keynesianism. My impression is that Austrian macro had microfoundations all along, which is good; but as I understand it (though correct me if I'm wrong), it's a non-rational-expectations theory, which makes it somewhat iffy.

Thanks for the link to

Thanks for the link to Sasha's slam on macroeconomics.

As a micro guy who has long viewed contemporay macroeconomics as a large steaming pile, I welcome any rhetorical ammo I can get.

I had a similar dream all

I had a similar dream all through college about once a semester. I rarely went to class because I found it more efficient to spend the same amount of time on my own reading so near the end of the semester I'd wake up in a panic thinking I missed a midterm and was going to fail the course.

Wow greg, I've had the same

Wow greg, I've had the same dream... mostly when I was in grad school, but yeah I've often had the "wait, shouldn't I be in spanish class? How did I forget I was taking that???" dream, before thankfully rising to full consciousness...

I had a dream last night in

I had a dream last night in which a family of Predators started living in my house. I think they played hockey too.

I haven't had these

I haven't had these alternative dreams -- though I hear they are common -- but I, too, have the recurring dream where I forget that I had registered for a course. I never have to take a test in the dream, but it leaves me frequently wondering (in real life) whether I am making it to all the classes I'm registered for.

I think everybody has that

I think everybody has that dream--along with the one of suddenly realizing they're naked or under-dressed in a public place. There must be something to Jungian psychology.