Macroeconomics is the study of the big picture of the economy: the ups and downs, inflations and deflations, depressions and revivals. Microeconomics is the study of individual economies and how they work. We started off the three-hour class with some basic definitions. Today, Professor Coleman explained some basic concepts of economics. He told us to enjoy the material that we were going to study in the next couple of weeks and not stress about homework or tests. This course is available so students can understand macroeconomics and what it represents.
Professor Coleman explained many of the course concepts with analogies to fruit, especially apples and strawberries. I know that it is only the first day, but I am not totally solid on distinguishing the differences between the types of individual choice situations (involving resources, opportunity costs, incentives and margin decisions). If I immerse myself in all this vocabulary and take advantage of a lot of practice questions, I’ll be able to get this down. Overall, I enjoy the class and the professor.
My homework tonight is to research movies that are heavily or partially based on economics. Some are “Dr. Strangelove”, “Inside Job”, “A Beautiful Mind”, “An Inconvenient Truth”, and “Freakonomics”. So far I have found “Bourne Identity”, “American Gangster”, “Blood Diamond”, and “Ferris Bueller’s Day Off”. I also need to read through the Appendix of Chapter 2 in my textbook to review basic slope graphing (y=mx+b).
Favorite quote from my professor today: “If you want to be wrong, you can disagree.”
After my class, I took a nice two hour nap in my dorm before I took out my trusty Frisbee and headed over to the main green. I met two girls that are totally cool. Steph and Rachel are from New Jersey. Steph is taking a design class and Rachel is in BioTech with Frank and Erinn. Here's a picture of Steph's homework. It is made out of laser-cut wood pieces.
Cohort #1 got together to go to a yoga class, but we found out that it is tomorrow. Rachel and I took some pictures in the yoga room while we were there.Later, Rachel, Steph, and I tossed around a Nerf football until 11:00PM. Curfew is at 12:30PM. I checked in with Mikalei early and went to my room. After all my floor mates left my and Olivia’s room, we got to work on our laptops.