Thursday, May 1, 2008
Lol. You guys are farnie. Haha yes Jeremy, guys, pls post your name at the end of your post. So I know who is deserving of the participation marks. But as Kuan says, it should be your passion for Econs that cause you to post right? But I guess sometimes some incentives (aka subsidies by Kuan) is required. =p
Saturday, April 26, 2008
in reply to yanhui's post, the invisible hand
hello everyone, it seems that the blog has turned from a monopoly towards oligopoly but it is still mainly dominated by a few big shareholders with currently kuan owning! seems like we have to encourage more people to start blogging and enjoy a fair share of the market since the barriers to entry is really really really low. just go to blogger.com, click new post, type in your message and publish post! jiayou everyone, make some contribution like what i am doing now. we want a perfect competition market!!!
i am not going to continue to lame crapping on applying the econs theories to our current situation in this blog. instead, i will like to move on from yanhui's supposedly cold joke but i doubt anyone really understand what is so "cold" about them.
TOP 10 REASONS TO STUDY ECONOMICS
1. Economists are armed and dangerous:"Watch out for our invisible hands."
2. Economists can supply it on demand.
3. You can talk about money without every having to make any.
4. You get to say "trickle down" with a straight face.
5. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.
6. When you are in the unemployment line, at least you will know why you are there.
7. If you rearrange the letters in "ECONOMICS", you get "COMIC NOSE".
8. Although ethics teaches that virtue is its own reward, in economics we get taught that reward is its own virtue.
9. When you get drunk, you can tell everyone that you are just researching the law of diminishing marginal utility.
10. When you call 1-900-LUV-ECON and get Kandi Keynes, you will have something to talk about.
i have decided to work upon the FIRST, TOP, MOST IMPORTANT REASON why we should study ECONS and apparently, it doesn't make sense to fongy's wife! HOW CAN YOU SAY YOU STUDY ECONS WHEN YOU DON'T EVEN KNOW THE INVISIBLE HAND!? IT is like the jing sui, core, the most important thing in econs, just like our beloved ct rep soh wee kian in 78! haha lol, opinions may differ hahaah
some basic things you need to know (i didn't copy from any sources ah, but if you want to know more you can read from sources like wikepedia): the guy who come up with this invisible hand theory is ADAM SMITH (another name to remember! he is the father of economics!!!). He proposed the use of this metaphor invisible hand in his book called the wealth of the nations and he believes that in a free market, the pursue of self-interest by individual firms will lead to improvement of the community as a whole. he is suggesting that there is this a so called invisible hand that pushes economic growth and advancement although there aren't really real hands that intervene the market like government intervention.
An analogy will be this 08s78 econs blog. If everyone like you and i continues blogging frequenting so as to achieve personal gains like participation marks, the whole blog will advance and improve in quality and quantity without the need for MR. TAN to scream and bark at us to contribute or implement this rule that if you didn't contribute at least one post, participation points will be deducted instead... Get the rough idea?
Hope you guys can appreciate this joke now; Economists are armed and dangerous:"Watch out for our invisible hands."
Ending of my first post with a lame comic...
![[invisible+hand.jpg]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiZYKhUWlN6A63XUh7HSlQ44iI1aH2V5-Sf95b3uZhXZAh1IQXLo2hABMjUmZbK2_Hcy1p4m2izIFiBOoZ8es3MYorC2n8pslXZGncQ359B37_SBXNuMLjgkjicVrnypSuRwNZ5tnhHYrU/s1600/invisible+hand.jpg)
i am not going to continue to lame crapping on applying the econs theories to our current situation in this blog. instead, i will like to move on from yanhui's supposedly cold joke but i doubt anyone really understand what is so "cold" about them.
TOP 10 REASONS TO STUDY ECONOMICS
1. Economists are armed and dangerous:"Watch out for our invisible hands."
2. Economists can supply it on demand.
3. You can talk about money without every having to make any.
4. You get to say "trickle down" with a straight face.
5. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.
6. When you are in the unemployment line, at least you will know why you are there.
7. If you rearrange the letters in "ECONOMICS", you get "COMIC NOSE".
8. Although ethics teaches that virtue is its own reward, in economics we get taught that reward is its own virtue.
9. When you get drunk, you can tell everyone that you are just researching the law of diminishing marginal utility.
10. When you call 1-900-LUV-ECON and get Kandi Keynes, you will have something to talk about.
i have decided to work upon the FIRST, TOP, MOST IMPORTANT REASON why we should study ECONS and apparently, it doesn't make sense to fongy's wife! HOW CAN YOU SAY YOU STUDY ECONS WHEN YOU DON'T EVEN KNOW THE INVISIBLE HAND!? IT is like the jing sui, core, the most important thing in econs, just like our beloved ct rep soh wee kian in 78! haha lol, opinions may differ hahaah
SO WHAT IS THE INVISIBLE HAND?
some basic things you need to know (i didn't copy from any sources ah, but if you want to know more you can read from sources like wikepedia): the guy who come up with this invisible hand theory is ADAM SMITH (another name to remember! he is the father of economics!!!). He proposed the use of this metaphor invisible hand in his book called the wealth of the nations and he believes that in a free market, the pursue of self-interest by individual firms will lead to improvement of the community as a whole. he is suggesting that there is this a so called invisible hand that pushes economic growth and advancement although there aren't really real hands that intervene the market like government intervention.
An analogy will be this 08s78 econs blog. If everyone like you and i continues blogging frequenting so as to achieve personal gains like participation marks, the whole blog will advance and improve in quality and quantity without the need for MR. TAN to scream and bark at us to contribute or implement this rule that if you didn't contribute at least one post, participation points will be deducted instead... Get the rough idea?
Hope you guys can appreciate this joke now; Economists are armed and dangerous:"Watch out for our invisible hands."
Ending of my first post with a lame comic...
Jeremy (name important ah...)
Friday, April 25, 2008
reply to fongy :D
lol fongy. how to raise barrier of entry T.T unless people refuse to enter the market, den too bad lor.
but i forsee that the 3 of us will lose our market power. cos at first, everyone only reads my post XD, den yanhui came in, so they have two posts to choose from to read, den you joined the market, so people have 3 posts to choose from.
but the flaw in this is that.. they can choose to read all 3!
firms (bloggers) will come in to post if market is attractive: they earn supernormal participation marks.
if market is unattractive: people making subnormal profits, like, when you post smth, you get participation marks deducted, den nobody would wanna post anything!
if we're (THE FIRMS OWNING CURRENTLY) earn only normal participation marks: zero, den most likely, people wont see the incentive of coming in to the market!
ahh, but being ecnos teachers, they're smart, and decided to intervent! through this government (MR TAN!) intervention, like, giving subsidies in terms of PARTICIPATION MARKS, or rewards/rebates, people can earn supernormal profits! (positive participation marks)
aiyo, but i really duno how to sustain this monopoly (turing into oligopoly liao) power of mine. how to raise barrier of entry you tell me T.T maybe impose QC RIGIHT!
but of course, we cannot be selfish. this blog is suppose to be LIVELY DISCUSSION! so maybe we can form cartels and discuss ideas (REAP INTERNAL EOS!), and den right, we post together, but damn imba, den see if can get more participation points? LOL
lol they will still continue production, cos they wont shutdown. because they lose nothing-.- lol. this is an example of economic concepts cannot apply to everything in life. or maybe our knowledge not enough.. so we shd go research on smth about raising barriers of entry! and den post about it! and get larger market share again :D
but, must produce at MR=MC, DO THE BEST WE CAN! = profit maximization. research 10 hours and post get 1 participation point, and research 5 min post get 1 participation point.. which one more efficient!
hence, to encourage us to produce at MC=MR, when MC is rising, we should increase MR! meaning that, for higher quality of work, we propose that we get more participation marks :D
ok lar, as if participation marks is so big deal.. WHERE'S THE PASSION FOR ECONS AH!
yay, this blog is getting lively. haha. i hope LDMR doesnt apply here! like initially very enthu.. den high number of posts.. but as time goes by, you must increase enthu-ness by huge amount to increase post by 1.
k. im not very satisfied with this post actually. there's a reason why we nv get A for econs.. must go strengthen our concepts!
maybe person A who got A for econs can critic us :D
but i forsee that the 3 of us will lose our market power. cos at first, everyone only reads my post XD, den yanhui came in, so they have two posts to choose from to read, den you joined the market, so people have 3 posts to choose from.
but the flaw in this is that.. they can choose to read all 3!
firms (bloggers) will come in to post if market is attractive: they earn supernormal participation marks.
if market is unattractive: people making subnormal profits, like, when you post smth, you get participation marks deducted, den nobody would wanna post anything!
if we're (THE FIRMS OWNING CURRENTLY) earn only normal participation marks: zero, den most likely, people wont see the incentive of coming in to the market!
ahh, but being ecnos teachers, they're smart, and decided to intervent! through this government (MR TAN!) intervention, like, giving subsidies in terms of PARTICIPATION MARKS, or rewards/rebates, people can earn supernormal profits! (positive participation marks)
aiyo, but i really duno how to sustain this monopoly (turing into oligopoly liao) power of mine. how to raise barrier of entry you tell me T.T maybe impose QC RIGIHT!
but of course, we cannot be selfish. this blog is suppose to be LIVELY DISCUSSION! so maybe we can form cartels and discuss ideas (REAP INTERNAL EOS!), and den right, we post together, but damn imba, den see if can get more participation points? LOL
lol they will still continue production, cos they wont shutdown. because they lose nothing-.- lol. this is an example of economic concepts cannot apply to everything in life. or maybe our knowledge not enough.. so we shd go research on smth about raising barriers of entry! and den post about it! and get larger market share again :D
but, must produce at MR=MC, DO THE BEST WE CAN! = profit maximization. research 10 hours and post get 1 participation point, and research 5 min post get 1 participation point.. which one more efficient!
hence, to encourage us to produce at MC=MR, when MC is rising, we should increase MR! meaning that, for higher quality of work, we propose that we get more participation marks :D
ok lar, as if participation marks is so big deal.. WHERE'S THE PASSION FOR ECONS AH!
yay, this blog is getting lively. haha. i hope LDMR doesnt apply here! like initially very enthu.. den high number of posts.. but as time goes by, you must increase enthu-ness by huge amount to increase post by 1.
k. im not very satisfied with this post actually. there's a reason why we nv get A for econs.. must go strengthen our concepts!
maybe person A who got A for econs can critic us :D
From monopoly to oligopoly..
Kuan Hua you are losing market share cos new competitors are entering the market! So right, if this was a PC market, currently you are earning supernormal profits, but in the long run, as more suppliers enter the market, the supply curve will shift to the right as the equilibrium output of posts will increase, hence the market share that you now have will decreasethe DD curve will slowly shift down to just touch the AC curve. so u will end up earning normal profits in time to come!
BUT... we still can dominate the market by either forming cartels (sharing of ideas on what to post) or merging. so we can actually raise the barrier for entry for competitors by engaging in predatory posting. we shall make it such that the other competitors are earning subnormal profits in which their TR is unable to cover their TVC, hence KICKing them out of the market. so we can still own a large percentage of the market share! we must form cartel ok?? CARTELS ALL THE WAY!!!
yifoong
BUT... we still can dominate the market by either forming cartels (sharing of ideas on what to post) or merging. so we can actually raise the barrier for entry for competitors by engaging in predatory posting. we shall make it such that the other competitors are earning subnormal profits in which their TR is unable to cover their TVC, hence KICKing them out of the market. so we can still own a large percentage of the market share! we must form cartel ok?? CARTELS ALL THE WAY!!!
yifoong
a joke to add to the lameness of the previous post!
Random post!
TOP 10 REASONS TO STUDY ECONOMICS
1. Economists are armed and dangerous:"Watch out for our invisible hands."
2. Economists can supply it on demand.
3. You can talk about money without every having to make any.
4. You get to say "trickle down" with a straight face.
5. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.
6. When you are in the unemployment line, at least you will know why you are there.
7. If you rearrange the letters in "ECONOMICS", you get "COMIC NOSE".
8. Although ethics teaches that virtue is its own reward, in economics we get taught that reward is its own virtue.
9. When you get drunk, you can tell everyone that you are just researching the law of diminishing marginal utility.
10. When you call 1-900-LUV-ECON and get Kandi Keynes, you will have something to talk about.
I think points 1,3,10 dont really make sense to us!
TOP 10 REASONS TO STUDY ECONOMICS
1. Economists are armed and dangerous:"Watch out for our invisible hands."
2. Economists can supply it on demand.
3. You can talk about money without every having to make any.
4. You get to say "trickle down" with a straight face.
5. Mick Jagger and Arnold Schwarzenegger both studied economics and look how they turned out.
6. When you are in the unemployment line, at least you will know why you are there.
7. If you rearrange the letters in "ECONOMICS", you get "COMIC NOSE".
8. Although ethics teaches that virtue is its own reward, in economics we get taught that reward is its own virtue.
9. When you get drunk, you can tell everyone that you are just researching the law of diminishing marginal utility.
10. When you call 1-900-LUV-ECON and get Kandi Keynes, you will have something to talk about.
I think points 1,3,10 dont really make sense to us!
Wednesday, April 23, 2008
Monday, April 21, 2008
FIRST POST :D
After, well, reading the uber cool post that was shown in lecture today, i shall ATTEMPT something similar too :D
Since im the first from s78 to be posting, i shall DOMINATE RAH!
Since i have 100% of the market share of the posts, (excluding Mr Tan's and the first one XD), it can be said that i have a monopoly! And hence, i shall indulge and engage in predatorypricing/posts PROPAGANDA that will frighten MOTIVATE all of you little preys to POST SOMETHING UP ALSO! XD
Actually, im quite buffled by why no one is posting about anything, i mean, THE BARRIER OF ENTRY (if any) IS SO LOW! you just have to accept the invitation sent out to your email, login to blogger, and you've joined the market! :D POOF! which is why im quite afraid that this monopoly of mine shall soon be lost, and the market will become an oligopolistic one, where only a few frequent bloggerspost form a cartel and own the market share of participation marks. THUS, i shall DIFFERENTIATE MY product POST, to stand out from the rest of the homogeneuos ones :D that are most likely to enter the market.
OK, as you can tell, im really bored-.- haha, so i shall share with you guys smth about.. economics.
Basically, this really cool subject has a PERFECTLY INELASTIC DEMAND, that means, no matter how high the school rasies the school fees, we still come to school, and we still take econs! And of course, since its based on ahabit ADDICTION TO ECONOMICS, we people still go for lesson despite the increament in costs! ok, maybe the school fees thing is not very relevant, so i shall attempt to bring it closer to our hearts.
Since PED is PERFECTLY INELASTIC, this means that, no matter how high costs are increased to, there is no fall in demand! let me illustrate this:
firstly, costs here refers to OPPORTUNITY COSTS
opportunity costs increase over time, as students like us get more and more tired over time, and long for more sleep. For example, at the beginning of the year, we need say, 6 hours of sleep to be fully rejuvinated next day to come to school for econs! however, now, due to overexhaustion and severe fatigue for whatever reasons, we need 10 hours of sleep to replenish ourselves! (rough number la ok haha).
HENCE, opportunity costs increases! this is because, by choosing to come for econs lecture due to our passion :D, we 伟大ly sacrificed our beautysleep. aka opportunity costs! we can pon school to sleep over econs.. BUT WE DONT :D THIS FULLY ILLUSTRATES that no matter how high costs increases, demand remains the same, because we students need to do well in our lecture tests, and cannot afford to miss the fun lectures because we wanna earn points and GNAD$ for ARES! and hence demand is perfectly price inelastic PED =0.
next evidence!
THERE IS NO AVAILABILITY OF CLOSE/GOOD SUBSTITUTES!
in econs lecture, we get to watch videos andlaugh at their accents learn more about other cultures, of course, learning about econs in a fun and interactive way! the other lecture where you get to watch videos.. is bio lecture, where you see artificially coloured cells that you most probably wont get to touch in your life. How can you compare $$$ & pricing decisions with DNA?! aka, NOT GOOD SUBSTITUTE.
in econs lecture, WE PLAY THE GNA GAME :D the only other lecture where we play games and earn points is, well, math. but then, its inter-CT, not inter-FAC, we dun get to show our FAC SPIRIT! like, outnumbering athena classes cos we are better :D
econs lecture test 1 make your life in hwachong HAPPY :D:D:D because people get full marks and there are a high number of As and Bs! and if you compare the number of people getting A for bio lecture test 1, you know why econs >>>> bio. (basically cos, the number of people getting A in econs lecture test 1 easilydouble/triple x200 that of bio? lol)
We have A COOL TUTOR! just compare the chinese names of MR TAN and other tutors, to see what i mean! besides, our tutor is cool! and IT-SAVY! i love his classes cos always use computer and projector one :D AND ITS ALWAYS IN AIR CON ROOMS! not like sitting in the hot B BLOCK LABS and facing the CHALKBOARD/blackboard? so.. pardon me, PREHISTORIC.
HENCE, because there're no substitues for econs, therefore its demand is INELASTIC :D
*laughs at my cold joke*
ok, i really duno how to continue this. but, all i want to say is, PEOPLE FROM S78 OUT THERE, PLEASE POST AND MAKE THIS BLOG LIVELY OK!!!
and i shall go to bed now, because thetemptation of my bedopportunity cost of blogging is too high.
ps, this is purely to motivate people to post, and is a JUST FOR LAUGH post, with me trying my best to bring in the economic concepts we've learnt so far.
Since im the first from s78 to be posting, i shall DOMINATE RAH!
Since i have 100% of the market share of the posts, (excluding Mr Tan's and the first one XD), it can be said that i have a monopoly! And hence, i shall indulge and engage in predatory
Actually, im quite buffled by why no one is posting about anything, i mean, THE BARRIER OF ENTRY (if any) IS SO LOW! you just have to accept the invitation sent out to your email, login to blogger, and you've joined the market! :D POOF! which is why im quite afraid that this monopoly of mine shall soon be lost, and the market will become an oligopolistic one, where only a few frequent bloggers
OK, as you can tell, im really bored-.- haha, so i shall share with you guys smth about.. economics.
Basically, this really cool subject has a PERFECTLY INELASTIC DEMAND, that means, no matter how high the school rasies the school fees, we still come to school, and we still take econs! And of course, since its based on a
Since PED is PERFECTLY INELASTIC, this means that, no matter how high costs are increased to, there is no fall in demand! let me illustrate this:
firstly, costs here refers to OPPORTUNITY COSTS
opportunity costs increase over time, as students like us get more and more tired over time, and long for more sleep. For example, at the beginning of the year, we need say, 6 hours of sleep to be fully rejuvinated next day to come to school for econs! however, now, due to overexhaustion and severe fatigue for whatever reasons, we need 10 hours of sleep to replenish ourselves! (rough number la ok haha).
HENCE, opportunity costs increases! this is because, by choosing to come for econs lecture due to our passion :D, we 伟大ly sacrificed our beautysleep. aka opportunity costs! we can pon school to sleep over econs.. BUT WE DONT :D THIS FULLY ILLUSTRATES that no matter how high costs increases, demand remains the same, because we students need to do well in our lecture tests, and cannot afford to miss the fun lectures because we wanna earn points and GNA
next evidence!
THERE IS NO AVAILABILITY OF CLOSE/GOOD SUBSTITUTES!
in econs lecture, we get to watch videos and
in econs lecture, WE PLAY THE GNA GAME :D the only other lecture where we play games and earn points is, well, math. but then, its inter-CT, not inter-FAC, we dun get to show our FAC SPIRIT! like, outnumbering athena class
econs lecture test 1 make your life in hwachong HAPPY :D:D:D because people get full marks and there are a high number of As and Bs! and if you compare the number of people getting A for bio lecture test 1, you know why econs >>>> bio. (basically cos, the number of people getting A in econs lecture test 1 easily
We have A COOL TUTOR! just compare the chinese names of MR TAN and other tutors, to see what i mean! besides, our tutor is cool! and IT-SAVY! i love his classes cos always use computer and projector one :D AND ITS ALWAYS IN AIR CON ROOMS! not like sitting in the hot B BLOCK LABS and facing the CHALKBOARD/blackboard? so.. pardon me, PREHISTORIC.
HENCE, because there're no substitues for econs, therefore its demand is INELASTIC :D
*laughs at my cold joke*
ok, i really duno how to continue this. but, all i want to say is, PEOPLE FROM S78 OUT THERE, PLEASE POST AND MAKE THIS BLOG LIVELY OK!!!
and i shall go to bed now, because the
ps, this is purely to motivate people to post, and is a JUST FOR LAUGH post, with me trying my best to bring in the economic concepts we've learnt so far.
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