decklist

mtgo draft 6/6/2009

best draft so far. will update decklist. post comments at draftbetter facebook pls!

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a brief view on why study economics?

Having almost completed my economics undergraduate degree at UCL, inevitable ponders on what the degree has done for me surfaced. There are many ways that the study of economics change the way that you think, the way that your mind operates, and of course, to a large extent increases your degree of rationality. Perfect rationality, in many situations, are regarded as irrational under the eyes of the layman. Consider the popular guessing game, where the number guessed that is closest to half of the average guess wins the game outright. Under game theoristic assumptions, the Nash equilibrium results in everyone guessing zero. Yet, zero will very often be the last guess that anyone has in mind.

However, the study of economics will definitely influence the way you make decisions, whether towards lotteries, gambling games, financial decisions, consumption decisions, bidding behaviour in auctions, the list goes on. It will also give insight towards the decisions that other people make, as to why they make the decisions they do, when you study games such as the ultimatum game, or perhaps interactive market games where sellers and buyers negotiate to achieve a market equilibrium. Perhaps most rewarding of all, you find yourself being able to grasp a little better what all the articles on The Financial Times is all about, and be more financially savvy than the average man on the street.

The reason that I took up economics was probably due to a spin of the wheel. The haphazard way I chose my undergraduate course made me realise how lucky I was, considering the amount of joy and satisfaction I have gained from doing the course. But, as the law of large numbers will say, if N number of people like me spun the wheel, at least a/N of them will end up unhappy. Which is the point of this article. When considering economics as a course of study, first know where your interests lies.

Two broad areas roughly define economics, microeconomics and macroeconomics. Microeconomics pertain to the study of choices made by individuals and firms, expanding far beyond to many economics situations that can be broken down and analysed, yielding many results that both satisfy and contradict empirical data. This is the reason why economics can be so exciting, as much of the work is still ongoing, and theories that have long been regarded as the gold standard have time and again been thrown away.

Macroeconomics is the other field of economics, which focuses on the study of industries, economies, regional economies and of course global economies. The application of macroeconomics is often what stirs the interest of those that pursue it, as many policies that result from studying macroeconomics can have huge impacts on the lives of people. One of the current macroeconomic policies being implemented in the UK and USA is that of quantitative easing (printing money if you would like to put it that way), so important that despite being highly unpredictable, it could be the one move that would salvage the financial state of the two economies. Without the study of macroeconomics, it would be impossible to even guess remotely the way that quantitative easing will affect economies.


Looking back with the experience that I have gained, I could probably write down a long list of reasons why I should have taken economics. As a science, economics sharpens your analytical mind and teaches you higher order thinking, while as an art, it looks at the more normative areas of economic life and the individual. With regards to employability, there is no doubt that having an undergraduate degree in economics will leave you in good stead. That said, the key to success is often not the kind of degree you do, but rather how you've done it.

fail!

sigghhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

does loving someone means lying to her even if you know it'll hurt if she finds out