The Economics Thread

[Burger]

Inspired by a discussion in the recruiting forum to start this. Economics affects us everyday from the prices of food to the drugs. Bread is hitting five bucks a loaf, which is a sign that we all should be concerned. Business talk fits here as well.

 

[Abe Hoffman]

Q: Why did God create economists?

A: In order to make weather forecasters look good.

 

[005]

Made me want a sandwich.

Probably the biggest random shift I've made in the past few months is interest in economics. Not knowledge, but interest.

 

[005]

from the book thread

Burger, do you work in something with economics? Or just an interest?

 

[roymcavoy83]

I will add this to the threads I check daily.

My college degree is in economics and my job is very "economics"-focused. Hopefully this thread remains focused on economics, and doesn't turn into pure politics.

 

[Burger]

from the book thread

Burger, do you work in something with economics? Or just an interest?

I want to work in economics. The inner workings of almost everything is economics. I want to be on the more practical side rather than the theoretical side.

 

[Burger]

I will add this to the threads I check daily.

My college degree is in economics and my job is very "economics"-focused. Hopefully this thread remains focused on economics, and doesn't turn into pure politics.

Good stuff, what sector do you work in? We have a politics forum for politics.

 

[roymcavoy83]

I work in research across several sectors as a consultant. I've moved into a manager role so I don't get to dig into the data so much anymore, but as a company we spend lot of time analyzing long-term financial performance and operational benchmarks.

 

[Burger]

I work in research across several sectors as a consultant. I've moved into a manager role so I don't get to dig into the data so much anymore, but as a company we spend lot of time analyzing long-term financial performance and operational benchmarks.

That sounds like fun. I like doing research still. What kind of figures do you use while analyzing companies? I look at companies for stock reasons for now.

 

[MG1968]

If you're paying $5 for a loaf of bread, you're either shopping at the wrong stores, or buying the wrong bread.

 

[Vols520]

I will add this to the threads I check daily.

My college degree is in economics and my job is very "economics"-focused. Hopefully this thread remains focused on economics, and doesn't turn into pure politics.

What are some books u recommend?

 

[Ernest T. Vol]

I will add this to the threads I check daily.

My college degree is in economics and my job is very "economics"-focused. Hopefully this thread remains focused on economics, and doesn't turn into pure politics.

Economics = Politics. I never heard of an economist who did not use it to bolster their opines.

 

[Burger]

Economics = Politics. I never heard of an economist who did not use it to bolster their opines.

It usually digress to politics unfortunately. It depends how a person chooses to apply the information. Economist like that make the field look bad.

 

[Burger]

Supply vs. Demand

This concept is the cornerstone for all modern economics. This determines price, as well as the amount of product that will be on the market. Supply and Demand are both curves on a Price vs. Quantity graph. Supply usually has an upward slope as Demand has a downward slope.

The point where these two lines meet is called equilibrium. This is the point of where the same amount supplied will be demanded. It's the most market efficiency.

Here is an example how straying away from equilibrium can create a shortage or a surplus.

 

[DEFENDTHISHOUSE]

Can't have a thread on economics without this guy. Murray Rothbard.

 

[Ernest T. Vol]

Tennessee tickets surplus. Demand is low because emotional price (pain) too high. IF they are every any good again, will be shortage.