Welcome back!

Welcome to the Fall 2009 semester.

This blog will have postings throughout the semester -- my way of communicating important information to you when we are not meeting as a class. Check in on the days after class meets, especially on weekends. To make this worth your while, there will be two or three extra credit assignments posted on the Blog throughout the semester.

The past year was dominated by a severe financial crisis and a global recession. The recession was so severe (believed to be the worst since the Depression) that it took on a name: "The Great Recession." This semester, growth remains a major concern, as there is considerable debate about whether or not a national economic recovery has actually begun. Whether or not this is so (I believe we are in the earliest stages of a recovery), credit market weakness (ongoing credit problems and further after-effects of sub-prime mortgages) will also be important, as will the behavior of inflation (will it suddenly spark as some observers fear?). In its next move, the Fed will raise the fed funds rate, as it is currently at (or near) 0. The only question that remains is when such a rate hike will occur.

By semester's end, you will come to understand that all of the factors we will be discussing throughout the semester are interrelated. And, as the semester unfolds, we'll see what the collective actions of the world's central banks will be, and if their assessments of what they need to do prove to be correct.

For now, read all of Stikki Stock Charts for next Thursday and visit the web site: Stockcharts.com. On the online syllabus I have added introductory material that will assist you in using that web site (we will be referring to it all semester).

If you have any questions throughout the semester, don't hesitate to e-mail me (llardaro@uri.edu) and/or stop by my office, Chafee 804. DO NOT LEAVE PHONE MESSAGES!!