2. Political Economy and You 1

3. Plan 1.Questions 2.Economic development and “gestation” 3.Distributions, opportunities, and your futures 4.Finale 2

4. Weighting the exams & Rational expectations Rational expectations: the best predictor for future performance is past performance

5. Rational expectations & you You have bright futures! You’re winners from globalization! And yet you’re suffering –Anxiety about the future –Malaise 4

6. http://www.nytimes.com/2010/08/22/magazine/22Adulthood-t.html?pagewanted=all “failure to launch” “boomerang generation” “not just young people moving back home but also young people taking longer to reach adulthood overall.” “transition to adulthood” marked by 5 milestones: 1.completing school, 2.leaving home, 3.becoming financially independent, 4.marrying, and 5.having a child.

7. 22

8. Maybe great sophistication requires longer “gestation” periods?

9. Who grows up fastest?

10. Amoeba Time with Parent

11. Gestation periods http://www.livescience.com/16186-pregnant-animals-gestation-time-infographic.html

12. THE DISCOVERY OF adolescence: 1904 Median age at marriage 1970s: 21 women, 23 men Median age at marriage 2009: 26 women, 28 men

13. Sophistication leads to longer “gestation” periods? The more society advances  The more discoveries  The more for the next generation to learn  The longer it takes

15. Distributions And what you’re doing to shape yours…

19. What are you doing in college? Your Major??

20. Theory –Philosophy (from ancient to modern thinkers) –Logic (game theory) Empirics –History –Statistics Implicit throughout the class

21. To understand international affairs You need a broad liberal arts education

22. The 3 r’s readin’ ’ritin’ ’rithmetic Broad education…

23. Skills Become well-read Learn to write well Learn statistics Learn a foreign language

24. Breadth of undergraduate education & life opportunities Breadth of undergraduate education Life opportunities

25. Graduate school is different (not harder) Fewer hours in class, more hours studying Greater opportunity costs Grades not important Be focused! Statement of purpose

26. Writing First sentence – most important! Organize your argument into sections –What is the question? –What is your answer (or what is the debate)? –What is your evidence? –Why should we care? Lay this out in the 1 st para Return to each in its own section (paper outline): 1.Background literature 2.Your theory/argument 3.Evidence 4.The intro/conclusion should answer the “so what” question

27. Relationships Letter of recommendation Network of friends –Amazing

28. Next step: “What are you going to do when you graduate?” = “How are you doing?” = “Hello” Well intentioned but vacuous question Don’t let it bring you down! No one knows @ 22 what life will present them

29. What do we know?

30. Distribution of opportunities before education

31. Distribution of opportunities after education

32. Credible?

33. You have bright futures

34. No, students, don’t cry Everything’s gonna be alright!

35. No, Woman, No Cry [Organ recalls church music] [Breaking bread] “And we would cook corn meal porridge – of which I’ll share with you “My feet is my only carriage “So I’ve got to push on through “But while I’m gone, I mean “Everything is gonna be alright

36. YOU ARE GEORGETOWN! You have bright futures Everything’s gonna be alright! Privilege Thank you

38. No, Hoyas, No Cry Said I remember when we used to sit In the government class at Georgetown Observing the data points As we would test the good hypotheses we make Good friends we have, oh, good friends we lost Along the way… In this bright future, you can’t forget your past So dry your tears, I say No, Hoyas, don’t cry…