Macroeconomics

Macroeconomics is one of the longest-standing Duke TiP classes, which is taught at Duke East campus by Dr. John Kane. Yes, by one man. Dr. Kane has been teaching Macroeconomics, in addition to its sister course Microeconomics, for 31 years. 31 years out of the 37 years TiP has existed. Macroeconomics (shortened macroecon or just macro) is one of the more serious and legitimate classes, as with enough attention span, one can score within the 4's or 5's on the respective AP exam.

Topics such as supply and demand are discussed, as are GDP (Y? No! Yd!), inflation, price levels, PPFs, SRAS, AD, LRAS, PPP-adjustment, CPI, and the orientation of the coordinate axes (does AD go on the y-axis? NO! the y-axis is there! ...but that's the x-axis). Macroeconomics taught by Dr. Kane is a Keynesian-theory-based course, as Dr. Kane laughs at any notion of FA Hayek (Hayek, more like Hayek-plosives!). As such, Macro is a demand-side economics course. (supply-siders? PSHAW)

General overview

The course normally goes as such: Reading a chapter out of the econ book (remember guys, read ALL the words with vowels in them), Dr. Kane explaining the chapter through words, graphs, and jokes, a break (EDITOR'S note: breaks were cancelled in Econ classes in later years. Ask Dr. Kane y or y0) (As of 2016 T1, breaks are allowed again. Dr. Kane even bought a special Macro frisbee). A continuation of the chapter or starting of a new chapter follows after the break. Repeat after lunch. Evening session with the TA is usually a review and explanation session where the TA will explain and clarify the material you didn't understand. Usually though, evening studies are half review and half throwing a frisbee around int eh room while discussing politics. Quizzes can pop up, but not in the sense of pop quizzes, whenever Dr. Kane deems you have learned enough to suffer, and will take up the entire morning/afternoon session. Tests usually occur on the first two Fridays and Saturdays, with multiple choice on Friday and TUCE (a standardized exam given to college students) usually occurring on the last Wednesday, followed by Dr. Kane's final, which occurs on the last Thursday. Every term there are debates over economic issues, which take place on the last Friday, and preparation for such debates usually entail going over to West (hisssss) for the afternoon sessions on the last Monday and Wednesday.

Richard Gill

Richard Gill, the patron economist and major deity of Macro, appears in the glorious videos that are ECONOMICS USA. His round glasses of supply clash with his eyebrows of demand, culminating in an epic persona of amazing proportions. WE LOVE RICHARD GILL!

Ice Cream

Dr. Kane, as a way of incentivizing his class and thus internalizing the negative externalities of off-task TiPsters, offers a reward to the class, which is one pint of ice cream to everyone in the class if:

1. Over half the class scores above the median on a test or quiz. 2. Two or more people score a 100 on a test or quiz.

If one person scores a 100, he or she will receive ice cream alone, while the rest of the class sits enviously.

Such a delicacy is rare and infrequent, given the nature of Dr. Kane's tests.

Dr. Kane's tests

Dr. Kane's tests are horrible concoctions designed to make any TiPster cry, which is quite an accomplishment since TiPsters are the top quarter of the top one percent. The tests and quizzes are that bad. The paper will set your retinas on fire and cause your bowels to hemorrhage upon even looking at the paper, which as Dr. Kane describes, is no harder than any other paper and that the test is the standard length: 8x11.5". Because of the horrific nature of the tests, Macro is truly the most dismal of the sciences and the most dismal of the TiP classes (though dismality can be quite enjoyable) and can be summed up with the following phrase by Gandalf the Grey: "you shall not pass".

In all honesty, though, Macro is a fulfilling and amazing class full of humor and economic humor, as well as "learning" and "education". It also provides the solution to TiPpression or depression in general: increase Government spending.

Also, don't study for the tests. As Tom the TA said, you're only at TiP for three weeks, and you're only a second/third/fourth year once. Don't waste that time studying. Just pay attention in class and you'll do fine. You can study when you're out of TiP.

Advice for future Macroeconomists (of tip)

• This class is hard, but probably the most rewarding
• DON'T STUDY
• You will learn more in this class than you will in AP Macro at your school so yes you actually learn in this class - coming from someone that got a 6% on one of Dr. Kane's Tests and I basically teach the Macro class at my school as a Freshman
• Actually sleep at night so you don't fall asleep in class (sike - watch Netflix all night)
• The first few days are the most important so pay attention or the rest of the class will be super hard - macro builds on what you previously learned

2016

Class jokes

• John Kane doesn't know his milk cows
• Fair and balanced
• Kill all the old people!
• Stop beating around the Bush
• In the long run, we're all dead
• Another one. Another one. Another one. Etc. (Marginal analysis)
• The Keynes to success
• Only if you work at a sandpaper factory (Frictional unemployment)
• Invisible gremlins theory
• Republicans
• At the margin!
• Empirically...
• You're wrong, I'm right.
• It's simple calculus people!
• Talia has an absolute advantage in all forms of disruption.
• How can something be too abstract?
• Get unemployed by wood Gavin
• Bubble Butt
• LJ the pooh
• "So does this mean I'll score a forty?" "If you're lucky."
• Have a hurricane! Raise the GDP!

People

• Lincoln (Reed):

Known for drawing (very detailed) pictures in class. Proposed drawing Dr. Kane with the body of a Disney princess for the term book.

• Nathaniel:" Most likely to become a country singer"

SWAT Team!!! Also, he took Micro in 2015.

• Talia: Most likely to "Volunteer"

Questions many things. Has a tendency to drop her calculator in the most awkward/heated moments

• Madison: Most likely to fall out of her chair
• Geena: "0-99 real quick"

The closest student to get free ice cream.

• Sarah:

20 questions

• Rosalind: "Silent but deadly"

"West sucks!"

• LJ: Most likely to kill a bear for it's honey
• Lucas: "Reads as fast as Ben speaks"
• Troy:
• Andy:
• Ben (AKA Chopsticks): "Most likely to speak really fast (in Latin)"

The ultimate multitasker. Known to shuffle cards, solve a Rubik's cube, and spin a pen while playing on his phone, taking notes on his computer, looking for Apple Watch accessories, and dictating texts. Despite all this, Ben still managed to score decently well (80+) on Dr. Kane's tests.

• Karan: Most likely to be triggered by a non-rounded number

Basically a walking Staples store. Karan had a seemingly endless supply of erasers, pencils, pens, paper, and other items.

• Jacob: "Most likely to own a camel farm"

(As stated by Sarah): "He just looks like the type of person to be a camel."

• Matthew: "Most likely to start a swear war in Chinese"

Mat(h)-eww... He didn't like math.

• Shaw: Most likely to

The superlative "Bubble Butt" was suggested and would have won by a wide margin had the TA not shut it down. This was due to his outstanding performance at TiPsync to "Bang Bang". Shaw was also extremely well versed in economics, having took Micro the previous year.

• Gavin (or George): "Unemployed by wood"

Gavin would ever so nicely hold the door for everybody to walk through during break... until someone found a piece of wood that sufficed as a doorstop. Gavin still holds the door, thought he might be experiencing some structural unemployment very soon.

Hall of Fame

This section is for the very few who managed to get 100 on a macro test (It's been empty for many years now according to Dr. Kane)

David Eckl - TUCE Exam (standardized non-Dr. Kane Quiz) (Term II 2017)