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ong others i m grateful to them for teaching me all about micro macro statistics econometrics health money and banking labor and drama i ve learned literally more than i ever wanted to know but i m glad i did i ve met some really impressive students who are bound to go on to get success hi akash i ve also met some who aren t even trying and are failing they make me shake my head and wonder why they re even here i recognize my 20 year old self in them maybe they re bound for success too but it will be a long hard road along the way i ve developed some strong opinions about economics which i admittedly hold with the confidence of the novice more econometrics less calculus don t be so quick to dismiss tastes and preferences people are not rational no matter how elegant your graph is economic analysis is a reasonable place to start but is rarely if ever the final word but beyond just the education i ve received i appreciate the experience sure it s sometimes been a little awkward to be the 40 something guy in class but it s been a treat universities are environments like no other everyone is there to teach or to learn or to help facilitate that at least in theory the administration is mind bogglingly complex but works very smoothly it s a really impressive operation and the wifi is excellent i m going to miss being a ut student posted by charlie at 11 36 am 0 comments sunday january 13 2019 the 49 year old graduate classes for spring 2019 which will be the final semester of my economics studies start next week by the end of the semester i ll be 49 years old eleven years older than when i started this back to school project back then my kids were three years old now they re fourteen back then i was running a little two man software company since then i ve founded grown and sold a much bigger company and now i m retired it s been a long time and a lot has changed but i m excited to be going back to school one more time posted by charlie at 3 25 pm 0 comments friday november 9 2018 synthesis so you might ask what is it that i propose to do with all of this knowledge of economics once i finish my studies in the spring well i have some thoughts about that i believe that the world economy will be remade in our lifetimes by machine learning deep learning and other technologies broadly characterized as artificial intelligence this is not an uncommon belief among technologists but seems to be extremely uncommon among economists and therefore policymakers that s a dangerous disconnect if this ai revolution does indeed come to pass those who stand to benefit most from it ai enabled companies and their shareholders will be well prepared for it while those who stand to be most negatively affected by it workers won t even have seen it coming i therefore see two opportunities for myself one related to business and the other to public policy the business opportunity is clear create an ai enabled company i m working on that now the other opportunity is to have a hand in informing or at least imagining policies that will help mitigate the deleterious effects of this economic transformation when capital can perform an ever greater share of the work previously done by labor and the cost of that capital is ever smaller labor is screwed this is not an especially novel idea cough marx cough but recent advances in ai mean that substitution of capital for labor will accelerate and in an increasingly broad swath of the economy policymakers need to get up to speed but before all that i still have one more labor econ midterm and a masterworks of world drama final to get through posted by charlie at 1 00 pm 0 comments monday november 5 2018 the beginning of the end i just registered for classes for my last semester at ut i have mixed feelings about that on the plus side i only have one more required class to go after this semester an upper division economics elective that has eco 420k as a prerequisite i ll satisfy that requirement with either eco 328 industrial organization or eco 351m managerial economics i had hoped to satisfy it with behavioral economics but the description for that course has been changed and 420k is no longer a prerequisite for it doh i still want to take it though so that means i need to take two courses in the spring so i ve registered for all three of them course meeting time title 34270 eco 328 tth 11 00 12 30p industrial organization 34279 eco 330t tth 9 30 11 00 behavioral economics 34370 eco 351m mw 2 00 3 30p managerial economics i ll check out both 328 and 351m and drop the one that looks less promising also taking into consideration the convenience of their meeting times after a few class meetings but like i said my feelings are mixed this has been a really fun and rewarding experience i can see why people become professional students i ll miss it when i m gone that said after 10 ish years with a 7 ish year break in the middle it s time to move on update after learning a little more about all three courses and professors i dropped 328 and 330t i could have retained some optionality by waiting to drop them until after a few class meetings but that seems unfair to other people wanting or needing those classes 351m sounds like it will be fun posted by charlie at 7 53 pm 0 comments wednesday october 17 2018 the coefficient of static friction once you stop getting started again is the hardest part that s just physics so let s get started again we re now almost halfway through the fall 2018 semester i m taking labor economics and masterworks of world drama assuming i can get a couple of administrative issues worked out i ll have one more course to take next semester i m almost finished and find myself starting to look back and take stock i have lots to say maybe a whole book s worth but for now just a couple of thoughts first economists aren t great at considering change over time and they re completely unequipped to handle an ever increasing rate of change even tyler cowan was taken completely by surprise by alphago much much more to say on this later next the university could do a much better job at providing community for its students it s disheartening but not at all surprising to learn how many kids feel totally lost and alone on this campus of 50 000 finally going back to school has been really rewarding if a little awkward i m fairly comfortable being uncomfortable so the awkwardness hasn t been much of a problem and the reward has been even more than i was expecting every time i tell someone who s years out of college what i m doing they say oh i ve thought about doing that but none of them ever has which is too bad they should you should more to come promise posted by charlie at 6 08 am 0 comments monday january 29 2018 payoffs tastes and preferences it looks like i managed to write exactly one blog post last semester huh let s try to improve upon that last semester ended up much as it started with my macro theory class a total disappointment and my statistics class an interesting if a bit dry intellectual challenge hopefully this semester will be a bit more satisfying this time around i m taking eco 354k game theory with dale stahl and eco 341k econometrics with stephen trejo econometrics has a reputation as a fairly easy class especially when compared to the 329 stats class i took last semester so far that seems to be true but we re only a couple of weeks in so the jury is still out game theory on the other hand has a reputation as a difficult course a fact dr stahl mentioned in the first class meeting but so far the only challenging aspects have been understanding what the professor is trying to convey in his lectures he sometimes rambles and gets tangled up in explanations and what he s trying to elicit in his homework assignments they re sometimes imprecise and ambiguous i find this worrisome in fact i ve considered dropping the course altogether after all i m doing this not for the degree but to satisfy my own intellectual curiosity right actually i m not completely convinced of my own motivations understanding one s own tastes and preferences is one of the most difficult things we as consumers do i think when i decided to go back to school it was simply because i was interested in economics and wanted to be taught and graded instead of having to create my own curriculum and discipline myself to follow it but now i m near the end after this semester and one more course i ll be able to say i have degrees in computer science and economics which appeals to me actually i ll still have one degree but with a double major whatever so unless something changes between now and 5pm wednesday the deadline to drop a class i ll stick with the game theory class suboptimal though it may be update i dropped it upon reflection i didn t have confidence in the professor or his ability to deliver what i paid for if there s one thing i learned from running a startup it s to fire fast posted by charlie at 11 42 am 0 comments wednesday october 11 2017 variance i ve reversed my earlier decision to move this blog to medium and will instead keep it here at blogger no school like the old school c ok so where was i oh yeah i said i was going back to school to finish up my econ degree and that i would start blogging about it again well here we are almost half way through the semester and i haven t blogged a bit time to fix that the semester so far has been a bit of a mixed bag i m really enjoying my economic statistics class the professor who has been teaching this course at ut for over 20 years is an excellent teacher the course is carefully designed and includes a good mix of lectures reading homework assignments quizzes in class exercises and exams and the subject matter is challenging without being overwhelming we just got our first midterm exam scores and i m happy and relieved to report that i scored 101 7 that exam only counts for 15 of the overall grade in the class so i certainly can t coast but i m feeling good about it my macro theory class is proving to be a different story the professor is a newly minted ph d and while he has mastered the material he hasn t yet mastered the art of teaching lectures consist of his presenting prepared slides occasionally going off on some arcane mathematical proof and not much else there isn t much time for discussion which is a shame given how interesting and consequential the material is there are no graded homework assignments no papers no quizzes and no textbook i feel like i haven t learned much so far which makes the midterm coming up next week rather daunting yesterday the professor posted a sample midterm giving the first concrete idea of what next week s exam will look like if i were to take the sample exam without any further preparation i estimate my grade would be in the 20 s so lots of studying to do before next tuesday to prepare i ll study the lecture slides and accompanying notes re read the corresponding sections in a widely used intermediate macro textbook and make sure my answers to the provided practice problems somewhat match the given solutions i ll do what it takes to perform well on the test but i m left with the feeling i could have gotten just as much from reading a textbook as i will from taking this course overall i m satisfied with my decision to go back to school but i m reminded that the value of the experience is largely dependent on the quality of the professors which can be uneven posted by charlie at 9 53 am 0 comments saturday june 3 2017 the next new thing in economics i come from the technology world which regularly reinvents itself 30 years ago the personal computer dominated the industry 20 years ago it was the internet ten years ago the iphone was announced which would ultimately become the world s first trillion dollar product today the tech world has moved on to machine learning virtual reality and drones i wonder if the same is true in economics does the world economy change so dramatically as to change the focus of the field of economics or is it all just different incarnations of adam smith s pin factory or could it be that our understanding of forces that have existed forever is what s changing ten years ago behavioral economics was coming into vogue but this was clearly a case where it was our understanding of economic behavior that was changing not the behavior or the force driving it itself topics in economics that seem newly relevant today include negative interest rates and universal basic income or negative income tax maybe like artificial intelligence these are simply modern applications of ideas that have been around for decades perhaps the biggest change in economics will be a shift from scarcity to abundance after all economics is the study of how scarce resources are allocated what happens when there s more than enough of everything to satisfy demand at p 0 so what s the next new thing in economics posted by charlie at 8 27 am 0 comments friday june 2 2017 readmitted and it feels so good apologies to peaches herb well i ve been granted readmission to ut so that s good my registration period opens in a couple of days to complete the degree requirements and thereby formally add an economics major to my degree i have to take five more econ classes 329 statistics 320l macro theory 341k econometrics and two upper division econ electives i plan to do that over three semesters which will have me finishing up in december 2018 i also have to satisfy a bunch of new requirements that have been added since i was last in school including a visual and performing arts class an ethics and leadership class and several multicultural classes but according to my advisor and from what i ve read i should be able to successfully petition the department to apply courses i ve already taken to satisfy those requirements worst case i might need to take one class which could actually be fun so once again unto the breach i m excited i think being in school will help me structure my time and my thinking a bit more which i really want right now if i get the classes i want in the fall i ll be on campus tth 9 30 5 00 which is a reasonable if not ideal schedule what else once i actually get registered fingers crossed that i ll get the classes i need i ll need a parking permit for which registration opens in july and actually i think that s it huh great next step registration next wednesday june 7 at 8a tally ho posted by charlie at 10 22 am 0 comments monday may 29 2017 it s happening again seven years ago i put my economics studies on hold to start a company which i wound up getting funded growing and ultimately selling this morning i submitted my application for readmission to ut to finish adding an econ degree to my cs degree if all goes as planned i ll resume my studies in the fall 2017 semester lots has happened since then but luckily both my ut eid and this blog still exist and i plan to put them both to good use hook em horns posted by charlie at 11 01 am 0...