Friday, May 24, 2013

Topic 14: My Future as an Economist


I used to think that economy is boring: who cares about the theories when you pay the prices? But as the materials we covered grow, I gradually realize that purchasing an item is not only simply paying the money. It involves a more complicated process of manufacturing, taxing, and the flowing of the money. The basic concepts of economy are not only related with other subject, but also appeared in our daily life. Buying an item from a store might be a simple decision for a consumer. Yet when the decisions of all consumers gather, it brings a huge impact on the demand, increases the economic growth, and thus makes the government to do actions. At the beginning of the course we were introduced to some fundamental ideas, however, as the class went further, we received more and more complicated information. Although in the college I am not aiming for an economic major, learning high school economy definitely benefits at a certain degree. I would prefer to develop more detailed concepts in microeconomic since it relates more to personal economic application than macroeconomic does. Even I will not be an economic major, knowing how the tax system works is essential, after all.

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