Economics can be…exciting?

So yes, drawing a ship being attacked demonstrates a non-excludable good.

I’m not good at math. I’m not good at science. Let’s just say it’s a really good thing I always enjoyed learning about political ideologies that just happened to be based around an economic systems.

As part of my outside requirements for my journalism major, I’m required to take an economics course. It never worked with my schedule and so I put off taking it until this semester. After flipping between whether I should take microeconomics or macroeconomics, I flipped completely and decided on a course called the Global Economy.

So far, it’s been interesting. I had a fabulous high school teacher my sophomore year who was bent on teaching us economics, whether we wanted to learn it or not. We didn’t, of course, but it’s paid off. Mr. Longo’s economic models have kept my head above water. And learning about Karl Marx, communism, socialism, and the Dialectic senior year with Coach Wright were some of my favorite subjects in philosophy. With our first exam today, that’s a whole unit I don’t even have to look at because I’ve learned it like the back of my hand already.

While reviewing my notes, perhaps the most humorous things has been the drawings and examples I’ve used to remember the concepts. Strange thing is they actually helped me remember the material during the exam.

Take, for example, Temple University. Sure, I’m here to get my degree, but it’s actually a factory for human capital, creating workers. My opportunity cost for attending college? The wages I’m not earning by being in school. Golf clubs and golf balls are complimentary goods. If the price of golf clubs increases, the demand for golf balls will also go down. (Personally, I’d much rather spend my time writing about golf, but I’ll take it.) On the production possibilities frontier, an economy can delegate its resources any way it sees fit. So it can decide how many Jeremy Lin jerseys to make and how many Melo jerseys to make. But as Lin’s popularity surges, they will allocate fewer resources to making Melo jerseys to meet the demand for Lin ones.

I was skeptical, but I’m learning a lot. I’m always intimidated by the plethora of business and econ majors that surround me, but I’ve absorbed more than I thought I would and who knows? Maybe the class I was dreading might actually pay off. But ask me that when I get my first test back next week.

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