Recent content by Bored Goblin

the monetary measure is labor days lost to disease, or lost lifetime income if disease is fatal.

no impact. Africans been killing and enslaving neighboring tribes long before the European arrived. Of course, slave trade lead to much more enslavement, which had economic and social consequences, but dignity remained as it was.

Ebay or students taking the course next year.

profit = 400*2 - 5*40 - 7*60 - 2*60 - 1*20 if profit<0, firm should stop producing, and resources will flow away from this industry if profit>0, the opposite

profit = 400*2 - 5*40 - 7*60 - 2*60 - 1*20 if profit<0, firm should stop producing, and resources will flow away from this industry if profit>0, the opposite

b/c they donot know what needs are: can't ask about their needs are, b/c they will overstate them, and there is no other way. and b/c they are are corrupt.

this is a topic for a 10-page paper. you will have to do research yourself.

A. Government actions that distort prices Invisible hand is the general expression for market equilibrium (price that makes supply equal demand)

a 10/14 b 14/10

yes, as long as "focusing" involves working towards it, finding people who have it, and learning from them.

financial markets come as close to being efficient as it is possible in real life: - identical goods (stocks or bonds) - many similar-sized participants - transaction costs near zero - same information available to everybody - low entry barriers

except eating babies.

price leadership

Economics studies combined effect of decisions taken by millions of people within the society. In this way, it is similar to Politics and Sociology. Finance means two things: - a sub-field of economics studying the combined effect of financial decisions. - a sub-field of business teaching...

Work for a financial company, ERP developer or IT consultancy. Basically developing IT systems (databases or numeric solutions) to support economic decision making. It is quite useful to know both Econ and IT since those fields have very different cultures, and people do not always understand...