Part 1: Emergence & Responding to Signals

Listen to this additional RadioLabsegment on Emergence. In one paragraph (less than 100 words), describe the idea of emergence and how it has been identified in nature.

In a second paragraph (also less than one hundred words), summarize Steven Johnson's ideas about emergence and neighborhoods. Relate this to what goes on in city neighborhoods and markets.

In a third paragraph (less than one hundred words), link the Emergence idea of ants, bees, and neighborhoods to the "signals" that Hollywood workers are given about their market value in this EconTalkpodcast with Adam Davidson. I suggest you do an in-text search for "signal" and listen to the podcast from about minute 25. What specifically is this signal for workers? Describe how these signals influence Hollywood artists behavior (hint: zombie makeup). Also, describe what types of workers get more signals and how this affects their behavior what is the "Hollywood model" doing to the workforce. Finally, talk briefly about the signal of gossip and why it is important.

Part 2: Calculating Labor Force Rates

Open the Lab 1 Excel Spreadsheet. It has two worksheets, one with a word problem and the second with a table of worker data.

Solve Problem 1 using Excel as a calculator. For example, if you want to compute 100/4, then type " = 100/4" into a cell to get the answer 25.

Copy Table 1 (NOT the WHOLE Spreadsheet... just the green Table) with your answers into your Deliverable Document. Present the table professionally.

For instance, you want to refer to the table in your text... above the table say something like "The answers to Problem 1 are presented in Table 1 below."

Solve Problem 2, using Excel to calculate the column averages and standard deviations for each indicator. Answer the ten questions starting on row 63.

Copy Table 2 (the one in orange) with your answers into your Word Document. Present it similarly.

Part 3: Trends in US Labor Rates

You are going to look for information related to one of these trends (select data that is no more than 10-20 years old):

LFP is falling among men but rising among women (esp. married women).

Men's hours and LFP are higher than women's.

White workers hours and LFP are higher than black workers.

The percent of workers unemployed 27 weeks and over has surpassed the percentage that are unemployed for less than 5 weeks.

Go to the FRED Website. Select Current Population Survey (Household Survey).

Choose either Labor Force Participation Rate, Unemployment Rate, Duration of Unemployment, or Employment-to-Population Ratio to discuss.

Find two similar groups to compare (same age but different race; or, same age but male vs. female) if you are looking at unemployment or participation rates. For instance, compare Less than 5 weeks to Over 27 Weeks if you are looking at duration.

As in the video, create a graph with the data, export the graph and add it to your Word Document.

Write one paragraph (about one hundred words) that presents and analyzes the graph. The paragraph should be similar to those in Part 1.

Part 4:"YOU'RE FIRED"

Imagine that you are in 2016. Your boss tells you that you need to "commit yourself to the team if you want to keep your job. I expect you to work until 8 every night. I know you don't want to lose this job... don't you know the unemployment rate is 42%? I can replace you lickity-split!"

Yes, he said lickity-split! Plus, he's getting his information from President Trump! You are to write about one page (two hundred words or less) on whether your boss and Trump are right or wrong, how they are off in their estimate (if they are), and how this effects your unemployment prospects (i.e. if you were fired, is there a long line of other unemployed schmucks).What is a better indicator of the labor force and is it close to 42%? Why is it important for businesses to understand the data behind labor force?

No style requirements, other than you need to conduct yourself in a professional tone, with a cool head, and backing up arguments with evidence.

Bonus (10 Points)

More recently, Trump is taking credit for the lowest unemployment rates recorded for African Americans, at 6.8%. He even says that somebody should tell Jay-Z and the White House ultimately admits that they are cooking the numbers! In one hundred-words or less, answer the following two questions:

Of course he is talking about one race rather than the whole population, but is Trump talking about the same measurement as the rate he talked about above (42%) or has something changed? Why might he make this change?

What do the BLS/FRED trends suggest for African American unemployment since 2010? What would have likely happened to this group's unemployment if someone else would of won the presidency in 2016, based on the data?