Economics @ Macquarie (1 Viewer)

[flyin']

Actually, one needs alot more mathematics to better understand some of the concepts presented. But then not many people would be doing Economics, so they make a course, which requires minimal mathematics - like you don't even need to know calculus. (Of course, that's why they have Actuarial Studies for people who know calculus and the sorts.)

 

[flyin']

Whether the assumptions are realistic or not doesn't matter, what matters is they provide a model of a real thing.

 

[flyin']

I wouldn't say nothing close to it.

Take the Demand and Supply of a Good. If the Demand increases, the prices go up (in the longer run).

 

[~ForAGoodCause~]

is the econ assign the same as last years? cos i still have answers to em

 

[flyin']

They never reuse assignments. Only pink papers.

 

[redruM]

so out of econ200 or 201, what would be the difference.

so far i have found micro much more interesting. so i should do 200? now i am assuming the 100 level subjects have something to do with the corresponding 200 level ones.

 

[jlh]

econ111 and econ200 are both mirco... econ110 and econ201 are macro...

i'd say do macro.. its much more interesting!!

 

[~ForAGoodCause~]

i heard 201 is hard .... and i have friends that have done 200, and they didnt seem to find it that hard

 

[redruM]

haha 200 it is

plus i dont want to do 201 with them bloody actuaries and even if my mark is decent, they'll over shadow me

 

[flyin']

Damn those actuaries making my marks look crap (Happens every semester...)!

 

[golfstick]

melb - first year ecos and politics student. therefore god of everything..

 

[flyin']

but that assumes prices are determined by utility. Its not the case.

Doesn't have to be the case.

For example in summer, if an ice block was $5.00 and the demand was 2 ice blocks, and two days later, they decided to reduce the price to $0.50, then what would you expect the demand to be? Greater than 2, I'd hope. Assuming this is a normal good.

 

[-=«MÄLÅÇhïtÊ»=-]

hey melb, as an actuary, all i do is model things...so by u sayn models are useless...i feel very obsolete ="(

 

[aditya]

i think he meant economic models u genius

 

[golfstick]

i think he meant economic models u genius

I think MCNh knew that you genuis

 

[-=«MÄLÅÇhïtÊ»=-]

i think he meant economic models u genius

well its really same thing..
like say the goods market model u learn in econ110 use simple autoregressive process of order 1..whereas we juz model everything including more hardcore stuff like prob of someone jumping off a 200m building given it's 2pm and the sky is cloudy...