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Tuesday, November 01, 2005

"If you live long enough, the venerability factor creeps in; first, you get accused of things you never did, and later, credited for virtues you never had." - I. F. Stone



The difference between Keynesians and New Keynesians is that New Keynesians are newer than Keynesians.

There're only so many things you can put on top of a variable. So I used Y1 hat hat.

You always hear in the news: Japan is suffering from a liquidity trap... That's a question for you [to solve using the model]. It should be quite fun to solve.

Theoretically, we've come to the end of the course. No one's clapping. *audience claps* I was joking.

[On stealing her sister's body lotion] I'm very happy today. [Me: Why?] Because I smell nice... I think I should give you more of such comments. So you can give me the roll-eyes look. (roll your eyes at me)

Then you learn about ideologies or schools of thought. 'Ideology' sounds harsh. Schools of thought.

[On popular economics books] These books are easy to read. They don't have the math which drives you crazy.

I am not going to be sadistic for the final exam.

Don't go out of point. If the question asks you to write down the consumer's maximisation problem, write it down. Don't solve it. Do you understand? *laughs from audience*

[On consultation] Please feel free to drop by and see me. You can exploit me.

B wah'ng (one)

If you use the bad word (go backwards)

Why we need second strand (a second strategy)

This pass and this pass (part)

SPNE is combine'nation of strategies (combination)

you will damage (deviate)

jeweler (jewelry)

law risk individuals (low)

prat improvement (pareto)

There are uh'n burgers (n)

All used cars are salt (sold)

used cars honours (owners)

[On the final] If you have extra time, you can do anything you want. You can even draw pictures.

[During a talk on careers for Economics graduates] Can I see how many people are intending on a career in financial serices? Maybe 50%. And the rest are - sleeping.

Flexible prizes (prices)

Today I am very privileged because, number 1, I'm the only one here [on the panel] not wearing a tie, and two, I'm the one with the shortest work experience. My Ministry wanted to send someone young.

A public sector economics will always be in fashion. For the ladies, imagine that you will always be in fashion.

If you talk about, if you ask me about work - it's confidential. *flashes 'Confidential' on Powerpoint*

If I ask you to summarise the work of a government economist, I hope you won't say 'Lies, lies and more lies'. I was actually asked this... We're honest. We don't fudge statistics.

[Me on job requirements: Is there any job in which you don't have to work well with others?] Academia. Teachers - your students have to work well with you.

I'm going to do the non-civil service thing. This is the new civil service thing. I put my email there.

Ukrainia (Ukraine?)

The corpse of being the last speaker is that the other speakers have exhausted your patience. (cost)

My children asked me: What do you want me to do when I grow up? I told them: Do something you are interested in, do something you are good at and get a job with a decent salary. If you work at the IMF you will get a decent salary... If you want to become very rich, go to DBS.

You are asked to update the macroeconomic spreadsheet for Turkey. You say: Wow, this is easy. No indefinite integrals and calculus... The kind of thing I had to do at University.

[On being a small fry as a fresh junior officer despite having a PhD and being a specialist] In the IMF there are hundreds of people with PhDs, so you need to get used to that. *audience laughs*

You have just finished your mission for the IMF... You are very happy. You got to fly in Business Class. It's very different from what you are used to... You spend 2 weeks in a 5 star hotel... You work very very hard, there is no room for mistakes.

[On getting into the IMF] 'I really want the job'. Some people say 'I need the job'. Some people are more persistent. 'I deserve the job'.
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