Tuesday, June 24, 2008

I hate numbers and money, but I love economics. Don't ask me how.



Yesterday, my econ prof offered extra credit if we posted on the class discussion board explaining the dip in oil prices caused by China's subsidy reduction last week. The WSJ blog post he wanted us to read was mildly interesting, but it was the reader comments below it that I really enjoyed. Between more prosaic responses like, "There might be technical buying of oil as it peaks in the short term," were lines like this: "The dollar is on a death spiral and I know that it’s just a matter ot time until everyone sees the ghost of the Weimar republic hanging over the old greenback, er purpleback like I do! The illuminati zombies running the fed and the treasury are Bilderberg spectre minions who have no real interest in defending the dollar because they want energy prices high to keep the Texas oil cartel happy and you buried in debt." This, of course, was followed by another's "Please. Stick to real economics."

It's a lot of work, but I'm really liking this class. I was worried that the math would be too much of a challenge, but for some reason, when paired with concrete data, problems actually make sense to me. I would have had such an easier time learning slope-intercept form if it had been put in terms of supply and demand curves.

5 comments:

Anonymous said...

Economics...such a dismal science. Plus that Blog post was confusing.

Kaitlin said...

Hey, you were duly warned by my post title. You're going to have to be more precise, though; what was so confusing?

Anonymous said...

The first two paragraphs. I guess the point was to have them grab ones attention through contradicting. Personally the twist required a triple reading. I wanted to make sure I understood the argument of the post.

Anonymous said...

Want to learn more about the economy? Really? Click on http://online.wsj.com/article/SB120147855494820719.html?mod=googlenews_wsj

Instead of oil supply shock try oil demand shock. Go here to learn more about demand shock http://link.brightcove.com/services/link/bcpid203719194/bclid86272812/bctid1612713588

Economan was here....

Kaitlin said...

The first two paragraphs? Sounds like a nice way of saying the whole thing : ) After the third read-through it finally made sense, right? I do pride myself on a dense prose style, but I hope I'm not completely incoherent to the conscientious reader...

Thanks for the links, Economan! I definitely appreciated the WSJ article; I just hope it's true!