Home > Uncategorized > Time Preference:19th October 7pm – Engineering 3402.

Time Preference:19th October 7pm – Engineering 3402.

This week’s topic involves one of the most important ideas in economics – and one that is rarely understood. That is, what is the key driver of interest rates? We will see that interest rates depend on the concept known as Time Preference and this implications of this concept are huge.

We are lucky to have this seminar taken by Sean Kimpton, an economics lecturer from AUT who took us through Say’s Law earlier this year.  Sean will integrate illustrate Time Preference with reference to all the ideas we have covered this year. He will also illustrate time preference with reference to taxation.

The degree to which people save is explained by their time preference and this preference is subjective and different for each person and will change over time.  Gene Callahan notes that “Time preference itself is implied by the existence of human action…If we didn’t prefer, all other things being equal, the same satisfaction sooner rather than later, we would never act.”

We will also provide more information about the November seminar being run in Auckland by Professor Fekete which we have mentioned in recent weeks.  Don’t miss the opportunity to listen and learn from another interesting International Economist coming to our shores.

Date: Tuesday 19th October
Time: 7:00pm
Location: Engineering 3402

NB there is a room and time change for this week.  If you are unsure, the Engineering Building is 20 Symonds St.  If you walk through the main doors off Symonds St and straight across the hall, room 3402 is almost directly opposite the entrance.

Look forward to seeing you there.

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