Friday, May 24, 2013

Journal Topic 14: My Future as an Economist

  Throughout the course of economics I have learned the basic broad concepts of micro ecnomics and macro-ecnomics from supply and demand all the way to the federal reserve. For the most part I found the materials discussed in the book quite interesting because it is cool to learn about the hows and whys of our economy, and how and why we are able to live the way we do today. Economics I learned in this class a portion of it might be useful to me in the future. I might be able to apply the knowledge I gained on stocks and taxes and supply and demand in the future. If I ever do decide to study eoconomics in the future, this will definitely be helpful.
  I am not quite sure as to what my college major will be but I am pretty sure I would like to take AP Micr/Macro economics. I find myself liking microeconomics better, which is surprising because I always thought macroeconomics would interest me more.
  Economics we learned this year is a lot of terminlogy. IN other courses I've taken, terminology is important, but not the central point of the subject. IN rudimentary economics, it turned out it is. THat is quite surprising.

Friday, May 17, 2013

Journal Topic 13: Supply or Demand?

   Demand-sided policies are policies designed specifically to aggregate the economy at the time being. Whereas supply-sided policies are more policies designed to improve conditions in the long-run by increasing producer productivity or human capital and such things.
  From what I have observed I would say both demand-sided policies and supply-sided polices work equally well in different fields. Demand-sided policies are effective in dealing with a upcoming, unexpected situation that is imposing a huge problem. For example, when recession hit the globe in 2008, the efforts the US government made to restimulate the economy are examples of demand-sided policies. Among those are the lowering of taxes in order to give the average consumer more purchasing power. Taiwan also did something quite unique in attempt to stimulate the stagnant economy. THat year, President Ma gave out free coupons, you might say. It is basically free money that you can spend on the market and the shops will then take these coupons and transfer them into real, hard cash. This plans to stimulate the consumerism within Taiwan. Although this plan did not work as well as experts have hoped, it is a demand-sided policy.
  Supply-sided policies work well with long-term investments. In otherwords, it is something you put to make production better. An example of that being education. Education is not noramlly something you can see results in a matter of days. In order to fully expand upon your education, it takes years and years to develop. Yet once you do, this supply-sided policy is worth so many more demand-sided policies.e This is essentially what many governments, especially those in third-world countries are trying to achieve.

Friday, May 10, 2013

Journal Topic 12: Role of the Government

  I think that the purpose of government is to bring law and order or to put it in simple terms, govern. And sometimes to do that means setting rules and limiting people from doing whatever it is that they wanted to do. I like the way most capitalist governments operate their economies so far. It is the persuit of the lasaiz-faire principle where government does not have regular control over the market system, and also combined with a very limited amount of government interference that is brought forward to stabilize the economy.
  Taxes collected should be able to stimulate or cool of an economy if that were to be the best for the country's long term economy. The Federal Reserve bank should try to manipulat einterest rates at times to achieve the same goals. The reason? There needs to be a rock in this economy of ours but yet being so meant making a huge sacrifice of not making a profit. The government, it turns out, is the only organization with the will and capability to do so. A lot of times government regulations end up hurting the richest people in the United States, but non-government regulations will hurt most americans. OF course, the role of the government also includes basic things such as keeping their very own people safe. However, I do believe that since the economy is such an important indicator of the people's well-being, the government is in a way responsible for it.

Friday, May 3, 2013

Journal Topic 11: Unemployment

  Jobs more resistant to unemployment are jobs necessary to full fill our everyday life necessities. Those jobs also have to happen to be somewhat exclusive, meaning that not everyone can do it if they wanted to right away. Examples of these jobs are medical personnels and government officials. Both of these positions require a depth of knowledge and leadership skill and passion in order to be done well that is not easily replaceable but also constantly needed by society.
  I am not quite sure of the job I would like to have in the future, but if I do have to name a potential job I would like in the future, I'd say a doctor. I believe this profession, as does all profession in medicine, is more resistant to unemployment compared to others because no matter what happens, people will always need a doctor. It doesn't matter if the economy is booming or slowing down, there will always be people sick and in need of medical attention. This has some influence on why I would like to become a doctor, but that is not the main reason why. Although it is good to have a stable job, the most important thing is to be passionate and love what you do. Always and forever.

Friday, April 26, 2013

Topic 10: How to Boost My " GDP"

  Many factors that attribute to economic productivity are useful to improving a student's GPA.
  First of all, there is the quality of labor. The quality of labor is an immensely important factor contributing to economic success and also success in schools as well. Imagine sitting in front of a desk for ten straight hours trying to study and at the same time also trying to watch a TV show and listen to the newest release of Maroon 5. Those things are bound to distract you from your main goal some how, and you end up studying only three pages. The quality of your intensive ten hour " labor", is therefore, very little.
  Second of all, there is the technological innovation. The most prominent example of this in today's schools are computers. Computers and the internet brought more available information to the table. Now a student can enhance him or herself not only from the books they have, but also from the internet. This improves productivity because the student will have more readily available information at their disposal.
  Third of all, financial markets. This does not have as big an effect on GDP as do other factors. The financial market CAN impact a student's home life and that can in terms affect their studying environment and therefore their GPAs.
  Lastly, energy costs. Energy costs, sadly don't contribute much to the GPA.

Sunday, April 21, 2013

Topic 9: Financial Market

  The most attractive financial asset to me right now is stocks. It is one of the easiest way to make money in this world we live in today. Not just any amount of money, big cash( Just kidding). I would like to invest in this financial asset right now because it seemed to be something with quite a promising future in the near future, of course I am aware of the risks I am taking from buying stocks, however, my youthful naive bliss kept me ignorant of that fact. If I were a hard working adult, however, I would probably also be interested in pension because I would want to live a good life after I retire. It would be ridiculous to work hard all the way through life, there had to at least be a time where I get to take some time off. I might also be interested in purchasing a variety of bonds simply because it pays me to keep my own money safe, what more could I ask for? Of course, there is a risk I am taking for...lets say, if my country goes bankrupt or something. Yet I figured that I would probably go bankrupt before my country does, so...yeah. The percentages for my financial asset when I was young would probably differ from the financial asset when I was older. I would always have to have a  portion of my asset as stock to fight inflation and a portion saved and stocked in a sweet little place so I don't turn around one day and find myself penniless. When I become twenty ~thirty, I would probably invest 30% in stocks, 50% in bonds, and 20% in pension. When I get older, I'll probably change that percentage to invest 10% in stocks, 60% in bonds, and 30% in pension. You might be wondering...hmm...30% in stocks isn't a lot. Well, I guess I am not so naively youthful and blissful after all :P

Friday, April 12, 2013


  Money, to me Wayne, is an important means that makes my everyday life possible. To me personally, the purpose of money is to serve as a storage of value that can be exchanged for goods and services that will be needed in the future. The function of money to me, however superficial it might sound, is to serve as " tickets" to goods and services that I want and I normally use it on things that I would like to have but don't have yet.
  I do not have an allowance so I would have to ask for money every time I feel like buying something. This meant that everything I buy is parent-approved. How much I receive is completely dependent upon my parent's views on the object of my desire. If they felt that it was completely useless, they might not give me any money at all. On the other hand, if they did feel that this object would do me more harm then good, then chances are, they will most likely be giving me the money as long as it is within a reasonable price.
  I have been blessed to be born in a caring family would could very well support me and provide for me, therefore, despite the fact that I know money is of great significance, I don't always put it as a top priority. Due to the fact that I have no allowance, I don't want or need more then what I have now. I do think, however, that I can get by with less money spent on me from my parents. Perhaps instead of buying drinks from the outside I can pack water in used water bottles, instead of buying brand new textbooks, I can buy used textbooks.
  I would be willing to cut back some luxurious expanses for money. For example, I might decide to not go to vacation in an expansive place or stay in an expansive hotel simply for the sake of saving money. I would not be willing, however, to cut back spending on things such as the life necessities.