Economics departments better keep their majors numbers up, or convince administrators that they do something else well enough to be kept around

From Inside Higher Ed (cruel irony):

Amid the worst economic crisis since the Great Depression, the University of Southern Mississippi is poised to eliminate -- of all things -- its economics department, faculty were informed this week.

The elimination of economics, along with five tenured and four tenure-track faculty positions, is part of a plan to reduce spending by $11 to $12 million, universitywide, within a year. While university officials stress the plan isn't yet final, they are slated to decide by September 1 whether to go forward with the proposed cuts, according to a news release.

The layoff news is bad enough, but the "worst economic crisis since the Great Depression" stuff is driving me crazy. I don't get how people keep forgetting about the early 80s recession. In 1982, GDP fell by 1.9%, inflation ran above 10% from 1979-81, and the unemployment rate was almost 10% in for two years (1982-83). All of those numbers are worse than during the current recession.

Hat tip: MS

Comments

[marmico]

the "worst economic crisis since the Great Depression" stuff is driving me crazy

Why? The data supports it, in terms of peak-to-trough GDP decline and nonfarm payroll losses.

The Minnie Fed is channeling your craziness.

[Josh]

As a former high school social sciences teacher (which social science teachers will tell you is neither), my advice: Learn a sport good enough to coach.

"Well, he can get the kids going in (football, baseball, etc.), and we do need to fill that history slot..."