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Homework answers / question archive / Discussion Topic You have made it to the end of your journey through Microeconomics

Discussion Topic You have made it to the end of your journey through Microeconomics

Economics

Discussion Topic

You have made it to the end of your journey through Microeconomics. Rather than have an essay question on a final, I wanted to give you a last chance to reflect on what you have learned and what you think has been most valuable as a way to summarize the course.  

Again, I have thoroughly enjoyed working with you and hope you continue to explore economics.

Self Portrait

 

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Instructions

Consider these questions and post answers.  The situation with Covid-19 has created a world of uncertainty. Please make sure to respond to two other students as well.

  • What were the most important things you learned in this course? Explain at least two.
  • What things did you learn that you will use during the rest of your life?
  • What skills did this course help you develop?
  • What advice do you have for other students who will take this course?

 

  1. Post your answers to these questions.
  2. After posting to the discussion, please be sure to comment on what you like about at least two other students’ posts. 

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  • What were the most important things you learned in this course? Explain at least two.

One of the most important things that I learned in this course that I also found to be quite interesting was the discussion assignment dollar street. It showed how even though we may live in different areas, people are basically quite similar.

The second thing that I found to be important was how businesses use economics to decide on prices and what to carry. How if they raise prices, what will the outcome be or if they lower the price, how will the outcome change. It all kind of goes back to supply and demand but I found it interesting because we see this on a daily basis, but never really think of it in terms of economics.

  • What things did you learn that you will use during the rest of your life?

Even though I may not consciously use economics daily, now when I go to the store and see products for sale or items offered with a discount, in the back of my mind I'll think of the economics behind it, whereas before I would've never even considered it.

  • What skills did this course help you develop?

I don't know if it is considered a skill, but it made me question when there is a move made concerning money. For instance when the government raises taxes or when a business raises or lowers a price or when a car company tells you what a "great deal" you're getting. I may not have before, but I now think about the economics aspect of it and question why they're doing this.

  • What advice do you have for other students who will take this course?

About the best advice that I can give is to get ahead and to stay ahead and you will do just fine. Time management is key.

Secondly, do not prejudge economics. Most people hear economics and think math or that it will be very boring and don't understand why they have to take it, but give it a chance and you'll soon learn that economics is in practically every aspect of our lives and can be interesting and relatable.