Notable Economist: Steven
             D. Levitt


  Q: WHAT DO ABORTIONS, CRACK
DEALERS, REAL ESTATE AGENTS, THE
KKK, AND...
A: WELL, NOT MUCH AT FIRST GLANCE.


Yet, these are the things that
  economist Steven D. Levitt
  studies.

Levitt uses t...
WHO IS MR. LEVITT?
     He is… an economist. But!

     “Forget your image of an economist as
     a crusty professor worr...
BUT REALLY… WHO IS STEVEN LEVITT?

                                                A Harvard and MIT alumnus.

           ...
THIS IS WHAT HE DOES

Q: Will having more police officers              Q: Why did crime rates drop so
cause a decrease in ...
FREAKONOMICS

Freakonomics presented the difficult
  science of economics in non-
  academic terms, making the subject
  a...
THE FUTURE
                                  Recent surveys show
     OF
                                    increase of g...
In summary

                      Levitt has…

Challenged conventional wisdom using economics as a tool

Expanded the rang...
SOURCES

INFORMATION
 Dubner, Steven Levitt & Stephen. Freakonomics. New York: Harper Perennial, 2009.

   Fox, Justin. ...
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  • PS a bunch of us are sharing this account to avoid spam in our emails. This is Justin B
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  • Hi grace, i liked your presentation alot, and cause we read from this guy in class it was cool to see about him, his picture, i was surprised... hes so YOUNG!! but great job, i think you defenitly showed what he did, and really nicely, using so many direct quotes and cool examples, and also why he is important. I think you may have glorified him a bit, but its totally groovy with the requirements. I like how you didn't get all wordy and explanatory, but just kept it real with examples. I would like to understand more about his inspirations, what made him do what he does.
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Gwsteven Levitt

  1. 1. Notable Economist: Steven D. Levitt Q: WHAT DO ABORTIONS, CRACK DEALERS, REAL ESTATE AGENTS, THE KKK, AND ADOPTED CHILDREN HAVE TO DO WITH ECONOMICS? A presentation by Grace Wang
  2. 2. A: WELL, NOT MUCH AT FIRST GLANCE. Yet, these are the things that economist Steven D. Levitt studies. Levitt uses the tools of economics to explore human behaviors, often examining seemingly unrelated curiosities, expanding the boundaries of economics to other social sciences.
  3. 3. WHO IS MR. LEVITT? He is… an economist. But! “Forget your image of an economist as a crusty professor worried about fluctuating interest rates” – Publishers Weekly He is… “A maverick treasure hunter” - The Wall Street Journal. “Neither politically correct nor pushing a political viewpoint” – Time Out New York “An economist Sherlock Holmes” – The Evening Standard
  4. 4. BUT REALLY… WHO IS STEVEN LEVITT? A Harvard and MIT alumnus. The winner of the 2003 John Bates Clark Award, awarded to the most influential economist under the age of 40. A professor of Economics at the University of Chicago Co-Author of Freakonomics and Superfreakonomics, 2 of the best selling economics books of Stephen Dubner and Steven Levitt with their all time. book Freakonomics
  5. 5. THIS IS WHAT HE DOES Q: Will having more police officers Q: Why did crime rates drop so cause a decrease in crime? suddenly in the ‘90s? Problem no other researcher overcame: Everyone else’s answer: better gun control, positive correlation between number of innovative policing strategies, and better police officers and number of crimes. In economy. other words, when there are more police, there are more crimes. (Does not mean Levitt’s answer and reasoning: The more police CAUSES more crimes) legalization of abortion in the 70’s. Legalized abortion altered the size of the Levitt’s answer: To show causality, the police criminal population in later decades by force needs to increase while crime rates allowing these would be criminally remained constant. Before elections, inclined children to not be born. It was mayors hire more police forces to pull in already established that those getting votes. This exogenous source of variation abortions were young, unmarried, and allowed Levitt to show that yes, indeed, a poor and that children raised in poor large police force causes a decrease in conditions were more likely to engage in crime. crimes.
  6. 6. FREAKONOMICS Freakonomics presented the difficult science of economics in non- academic terms, making the subject accessible to those untrained in the field. It brought the general public a new way of looking at the world while also stimulating interesting conversations among experts in the field about the future of economics
  7. 7. THE FUTURE Recent surveys show OF increase of graduate ECONOMICS students of economics interested in what Levitt is Macroeconomics- doing (microeconomics) dealing with broad and general aspects of economics. Generally using model assumptions and versus what most notable economic theories. economists of recent time have been doing Microeconomics- dealing with particular aspects (macroeconomics) of economics. Often using statistical data and empirical research. “More and more, ‘Freakonomics’ is becoming mainstream economics. That is the research that young economists see themselves doing” – David Colander, economic historian at Middlebury College
  8. 8. In summary Levitt has… Challenged conventional wisdom using economics as a tool Expanded the range of economics, tackling novel subjects Popularized economics to the general public through his acclaimed books Stimulated conversation within his field and inspired a resurgence of interest in microeconomics
  9. 9. SOURCES INFORMATION  Dubner, Steven Levitt & Stephen. Freakonomics. New York: Harper Perennial, 2009.  Fox, Justin. "Is the World Ready for Freakonomics Again?" 26 October 2009. Times. 9 February 2010 <http://www.time.com/time/magazine/article/0,9171,1930520,00.html>.  Levitt, Steven. "NBER Publications by Steven D. Levitt." December 2009. National Bureau of Economic Research. 9 February 2010 <http://www.nber.org/authors/Steven_Levitt>.  Poterba, James M. "Steven D. Levitt: 2003 John Bates Clark Medalist." The Journal of Economic Perspectives Summer 2005: Vol. 19, No. 3 pp. 181-198.  Uchitelle, Louis. "Students Are Leaving the Politics Out of Economics." 26 Janruary 2006. The New York Times. 9 February 2010 <http://www.nytimes.com/2006/01/27/business/27econ.html?_r=1&scp=10&sq=steven+levitt&st=nyt>. IMAGES http://blog.winerywebsitereport.com/images/2007/06/24/freakonomics.jpg http://img.timeinc.net/time/daily/2006/0605/levitt0508.jpg http://userserve-ak.last.fm/serve/252/7613211.jpg http://jacketsandcovers.files.wordpress.com/2008/03/freakonomics.jpg
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