Is Economics intresting.

[riffleman 20]

I study it,but find hard.what you all think about it?

[Student Pilot 0]

I just added an economics major this year to complement my accounting and finance major. I find it quite interesting, but only in the context of corporate finance and accounting. Economics by itself is a little too academic for my tastes, but once you add finance to the mix things start becoming interesting and you start finding practical applications.

It is a difficult field to study, but in my opinion that makes it all the more rewarding.

-Student Pilot

[Baff1 0]

It's like horse racing.

Utterly boring unless you have a bet on.

[riffleman 20]

I like to study macro economics.it is easy to study than micro.

[Pathy 0]

After 4 years at Uni studying Economics and Politics, i'd say no, absolutely not. I spent 3 years learning all manner of shit thats made my brains boil out my skull in trying to get my head around it, and the last year being told alot of it isn't even relevant anymore, thanks to the current financial crisis highlighting all the flaws in the models we were taught (which, were obvious to most sensible people beforehand).

Its something that, yes, it's very academic, but it's mostly theoretical. I went to uni having studied Economics at college, which I have to say, was interesting, but highly simplistic. I'm not very good with Maths so I took some advice and mixed it with another subject so I could avoid the more maths heavy parts of the subject. I'm really glad I did mix it, because the Politics is whats kept me sane these last 4 years. Love it.

Not sure what else to tell you. 2 years studying it at College, 4 years at uni, and I think its shite.

[Student Pilot 0]

and the last year being told alot of it isn't even relevant anymore, thanks to the current financial crisis highlighting all the flaws in the models we were taught (which, were obvious to most sensible people beforehand).

That would depend on what theory of economics you were taught (Classical economics, Keynesian economics, Marxist economics, ect) and how familiar you are with the events leading up to the financial crisis.

In my opinion (key word people: opinion) Classical and Keynesian economics are still relevant to today's society. The free market is still much better than planned economies and the quickest way to prosperity. Are there some flaws? Possibly. But it can be argued that the financial crisis did more to reveal the flaws of excessive government intervention (i.e. Socialism and planned economics) than it did to reveal the flaws of the free market.

-Student Pilot

[stgn 39]

Wasn't it because allot of regulation and oversight had been removed that it was possible to *bip* it all up.

STGN

[abs 2]

When I got my Bcomm, economics was the course I hated the most. Good luck with it.

Abs

[Student Pilot 0]

Wasn't it because allot of regulation and oversight had been removed that it was possible to *bip* it all up.

STGN

Interestingly, I think it was a little bit of removed regulation and too much regulation.

Useful regulation put into place after the Great Depression was reversed under the Gramm-Leach-Bliley Act, which allowed investment banks, insurance companies, commercial and residential banks, securities companies, ect to form large financial holding companies, sort of a one-stop-shop for all of your financing needs. This helped create the "too big to fail" financial institutions as well as created an avenue for a few companies to be the main players in almost every financial market.

On the side of too much regulation, we come to regulations that were passed in the '90s which forced banks to not discriminate against low-income borrowers. This was meant to boost the housing market (a house for every American) and artificially created demand for houses, which led to the bubble. Many banks knew these were bad loans, but were forced to write them anyway or be faced with discrimination charges. The solution? Package the risky mortgages as securities and sell them to Fannie Mae and Freddy Mac, which were required to purchase mortgages from other banks. Or you had originators like Countrywide, which wrote whatever loan they wanted, packaged it as CMOs and CDOs, and sold them as securities. These securities would be divided into tranches and sold with different ratings. This led to the situation where junk mortgages were rated AAA because the income from the packaged securities came from a higher tranche.

Keep in mind that not every bank has suffered through this recession. Many banks did fine (Wells Fargo, JP Morgan) because they were able to manage their risk despite the government. Others (Citigroup, Bank of America, Lehman Brothers, Bear Stearns) did not manage their risk well and have suffered as a result.

-Student Pilot

[riffleman 20]

I have intrest on economics except graphs.

[oyman 0]

i only liked my economics class in high school because the teacher was a milf

[echo1 0]

A famous writer (can't remember who) once said "Economics is a good source of employment for Economists". Says it all really.

[FireonTracer 10]

Economics just confuses me lol!

[Pathy 0]

I have intrest on economics except graphs.

You're screwed then.

[riffleman 20]

Iam not screwed, it is intresting subject but always scored enough in it.

[Macser_old 0]

Is Economics interesting?

No!And the words "interesting" and "economics" should never

be used in the same sentence.It's just wrong.

:biggrin:

[riffleman 20]

If you understand the meaning of thread than its ok.

[Macser_old 0]

I didn't mean that literally Riffleman.

:biggrin_o:

[Pathy 0]

Iam not screwed, it is intresting subject but always scored enough in it.

Ok, if you plan on studying it at a high level, and you don't like graphs, you're screwed. Economics revolves around alot of different "models", most of which are represented by graphs. OK, you can explain them mathematically, but given that most people find the graphical representation the easy bit to interpret, and the (theoretical) maths behind the graph the hard bit, i'd find it odd if you were good at the Mathematical side of things but struggled with representing that visually, through graphs.

It is of course, entirely possible to explain things without ever resorting to visual representation, but given the complexities of some of the models you'll encounter, combined with the likelihood that alot of what you're being taught will probably involve graphical representation of economic models sooner or later...

[riffleman 20]

Intresting and insipirational reply.

[sudayev 27]

I have a question for our Indian mate - riffleman.

Namaste.

You have said once that you are a shepherd, you had like 50 goats or sheep. You remember don't cha ?

I was wonderig how do you square your grazing chores and being a shephard with studying economics?

So do you study economics in some shepherds yurt or tent somewhere in the Himalaya Range? Or maybe there is a vocational school for people living outdoors who want to live their lives as a shephards and pursuit for the academic degree ?

What about OFP gaming, do you have a solar panels installed on your grazing shelter to power up your laptop ?

How do you cope during the winter season ? We know that sheeps wool make the best insulation.

How it is during the exam session ?

For me it sounds totally exotic and exciting as well. Tent, laptop, economics, the Himalayas, blue sky, ofp. Please tell us some more ;)

[jakerod 254]

I have a question for our Indian mate - riffleman.

Namaste.

You have said once that you are a shepherd, you had like 50 goats or sheep. You remember don't cha ?

I was wonderig how do you square your grazing chores and being a shephard with studying economics?

So do you study economics in some shepherds yurt or tent somewhere in the Himalaya Range? Or maybe there is a vocational school for people living outdoors who want to live their lives as a shephards and pursuit for the academic degree ?

What about OFP gaming, do you have a solar panels installed on your grazing shelter to power up your laptop ?

How do you cope during the winter season ? We know that sheeps wool make the best insulation.

How it is during the exam session ?

For me it sounds totally exotic and exciting as well. Tent, laptop, economics, the Himalayas, blue sky, ofp. Please tell us some more ;)

Why do you assume that he is nomadic (or living in a tent) just because he is a shepherd?

[sudayev 27]

Why do you assume that he is nomadic (or living in a tent) just because he is a shepherd?

That is why I am asking. Par example, in some parts of the US or Europe you can live as a farmer in your homestead, get your job done and go to the college (depending how much free time you have on your hands). On the other hand, in Asia even North America and Europe, shepherd often go highlands and become nomads for a certian period of time. Some of them may be on the move permanently like in Mongolia or Kazachstan.

[jakerod 254]

That is why I am asking. Par example, in some parts of the US or Europe you can live as a farmer in your homestead, get your job done and go to the college (depending how much free time you have on your hands). On the other hand, in Asia even North America and Europe, shepherd often go highlands and become nomads for a certian period of time. Some of them may be on the move permanently like in Mongolia or Kazachstan.

Oh, okay. It sounded like you were mocking him or calling him a liar to me for some reason. My bad.

[sudayev 27]

Oh, okay. It sounded like you were mocking him or calling him a liar to me for some reason. My bad.

And you have come to investigate :D ? Being a shephard is nothing ashaming. I'd say it is a great job in a healthy environment away from buzzing beehive cities. Oh dear you dont even imaginehow I would like to shove my boring duties and spend a month somewhere in the wooden lodge or heck, even tent and overwatch grazing animals. You know breathing a fresh air, watching runrises between the mountain tops, eating a bread with freshly made goat cheese :)