Spent the evening going again through the problems we solved in class and in homework. Microeconomics seems to me more intuitive than Financial Accounting. But still it’s a lot of formulas with just relatively few variables in too many different combinations, like P, Q, C, AC, FC, AFC, VC, AVC, changes, % of changes, MPL, MPK, MC, MR tada, tada, tada.
As our professor said once during the lecture “Economists think on a margin”. So I’ve got a lot of marginal stuff to consume in a short period of time. Admittedly, I am not quite there yet with thinking on a margin. That’s why I prepared a cheat sheet with most important formulas we have been dealing with in the class. I won’t be able to use the cheat sheet during the exam, as it’s a closed book exam. But at least it gives me subconscious confidence that I can refer to it tomorrow during the day and just before the exam.
Another quote from professor that received more enthusiastic response from the class was in reference to the T-shirts insignia common among the students of Economics: “Economists do it with Models”. They wish.
Tomorrow I will likely have to make do with whatever I will have remembered from the course, since I am not as familiar with models as economics students.
{ 0 comments }
