Sunday, October 29, 2006
Macroeconomics in one word is "DECEPTIVE".
It's draws you in with fancy undergrad texts like the one's by Fischer and Mankiw.. an dyou think, out of the lot, Macro prob has most relevance to reality.
But then you learn more and you learn that while it may still be relevant, it's a long way off to get there. Modelling reality on a large scale must not be underestimated, as I have foolishly done.
Bad enough we had to deal with seven schools of thought, as Phelps put it:
1)Keynes
2)Monetarist-Friedman
3)New classical-Samuelson and Phelps(this guy is apparently dicey..bounces from one to the other as and when convenient- in one word-"practical")
4) the New Keynesian(Mankiw et al. ..sigh!)
5)Supply side stuff
6)Neo Neo Classical RBC
7)the structuralists
and each one put it's own spin to data..
The Neo neo classical currently incorporates a little bit of everything..and is being used as a placatory school of thought. But one knows, somebody out there is coming up with the Neo Neo Keynesian...I can't wait, Really.
It's draws you in with fancy undergrad texts like the one's by Fischer and Mankiw.. an dyou think, out of the lot, Macro prob has most relevance to reality.
But then you learn more and you learn that while it may still be relevant, it's a long way off to get there. Modelling reality on a large scale must not be underestimated, as I have foolishly done.
Bad enough we had to deal with seven schools of thought, as Phelps put it:
1)Keynes
2)Monetarist-Friedman
3)New classical-Samuelson and Phelps(this guy is apparently dicey..bounces from one to the other as and when convenient- in one word-"practical")
4) the New Keynesian(Mankiw et al. ..sigh!)
5)Supply side stuff
6)Neo Neo Classical RBC
7)the structuralists
and each one put it's own spin to data..
The Neo neo classical currently incorporates a little bit of everything..and is being used as a placatory school of thought. But one knows, somebody out there is coming up with the Neo Neo Keynesian...I can't wait, Really.
Macroeconomics in one word is "DECEPTIVE".
It's draws you in with fancy undergrad texts like the one's by Fischer and Mankiw.. an dyou think, out of the lot, Macro prob has most relevance to reality.
But then you learn more and you learn that while it may still be relevant, it's a long way off to get there. Modelling reality on a large scale must not be underestimated, as I have foolishly done.
Bad enough we had to deal with seven schools of thought, as Phelps put it:
1)Keynes
2)Monetarist-Friedman
3)New classical-Samuelson and Phelps(this guy is apparently dicey..bounces from one to the other as and when convenient- in one word-"practical")
4) the New Keynesian(Mankiw et al. ..sigh!)
5)Supply side stuff
6)Neo Neo Classical RBC
7)the structuralists
and each one put it's own spin to data..
The Neo neo classical currently incorporates a little bit of everything..and is being used as a placatory school of thought. But one knows, somebody out there is coming up with the Neo Neo Keynesian...I can't wait, Really.
It's draws you in with fancy undergrad texts like the one's by Fischer and Mankiw.. an dyou think, out of the lot, Macro prob has most relevance to reality.
But then you learn more and you learn that while it may still be relevant, it's a long way off to get there. Modelling reality on a large scale must not be underestimated, as I have foolishly done.
Bad enough we had to deal with seven schools of thought, as Phelps put it:
1)Keynes
2)Monetarist-Friedman
3)New classical-Samuelson and Phelps(this guy is apparently dicey..bounces from one to the other as and when convenient- in one word-"practical")
4) the New Keynesian(Mankiw et al. ..sigh!)
5)Supply side stuff
6)Neo Neo Classical RBC
7)the structuralists
and each one put it's own spin to data..
The Neo neo classical currently incorporates a little bit of everything..and is being used as a placatory school of thought. But one knows, somebody out there is coming up with the Neo Neo Keynesian...I can't wait, Really.
Saturday, October 28, 2006
You know what I like most about programming, you can listen to music all the while. And in many ways music is helpful. Especially the Strokes. I always imagine J C at the mike, and that's enough to get my heart rate stepped up!
That's what I like about Math..it goes well with music. And same applies the other way around.
But Gauss, the program written for econoetricians is one of the more unhelpful programs. I try do the same stuff in Matlab, and it's somehow better.
What's the deal with the semicolon..and the not case sensitiveness. I think a major part of our disillusionment with Gauss, arises from our profs absolute dislike for it.. yes he's to blame.
I actually look forward to classes here. Especially econometrics..it's fun, especially with all the simulations. My thesis will also invlove a lot of empirical analysis..that should be fun.
I've begun reading the General Theory of Employment, Interest and Money, considering the fact I wish to pursue more in the New KEynesian area. Let's hope this one's not quite as disastrous as "the Wealth of NAtions". I don't think I went beyond the first chapter. The language is much easier, and most of the stuff is familiar..so hopefully I should be successful.
One book I would recommend everybody read is Friedman's Capitalism and Freedom. It's really an eye opener..
I also went for this Salsa workshoop/clubbing the other day.. I thought I was well prepared with my two month Salsa training, but shit, in singapore everybody's a bloody pro! That's good, I always felt guys should be good at dancing, then the girls don't really have to make any effort! I wish I had time to pursue it..I guess this as many other things have to be postponed for some time..
That's what I like about Math..it goes well with music. And same applies the other way around.
But Gauss, the program written for econoetricians is one of the more unhelpful programs. I try do the same stuff in Matlab, and it's somehow better.
What's the deal with the semicolon..and the not case sensitiveness. I think a major part of our disillusionment with Gauss, arises from our profs absolute dislike for it.. yes he's to blame.
I actually look forward to classes here. Especially econometrics..it's fun, especially with all the simulations. My thesis will also invlove a lot of empirical analysis..that should be fun.
I've begun reading the General Theory of Employment, Interest and Money, considering the fact I wish to pursue more in the New KEynesian area. Let's hope this one's not quite as disastrous as "the Wealth of NAtions". I don't think I went beyond the first chapter. The language is much easier, and most of the stuff is familiar..so hopefully I should be successful.
One book I would recommend everybody read is Friedman's Capitalism and Freedom. It's really an eye opener..
I also went for this Salsa workshoop/clubbing the other day.. I thought I was well prepared with my two month Salsa training, but shit, in singapore everybody's a bloody pro! That's good, I always felt guys should be good at dancing, then the girls don't really have to make any effort! I wish I had time to pursue it..I guess this as many other things have to be postponed for some time..
Sunday, October 22, 2006
Diwali is Singapore.
Not that I did anything worth remembering in India, that I was ready to feel disappointed about singapore not matching up to Indian standards, but without the pollution and the noise. Diwali isn't Diwali.[In many ways it's much better.]
But I didn't particularly mind cause anyway (as Aby would say) "I don't burst "them" crackers". I don't know what this obsession with "them" is. My friend in singapore, also uses it. It does not sit well with me. Bad enough the sms have slaughtered spellings, now we are set to change grammar too.
I'm telling you people, talking like that, will dampen your Gmat scores.
Anyway, I should stop my homily's. About Diwali,
I had my traditional Oil bath, visited a temple in the morning, asked for blessings for my family and my intellect.Motivated I went to my cubicle and hit the books initially. then couldn't resist, and watched the downloaded version of The Departed on my comp. It was good, but apparently not even close to being as good as the original Hongkong movie.
In the evening, I had I think a most memorable time. I hung out with three sets of very different people. First I had dinner(with wine and desert, all free) with Shwetha's friends and Profs..most in their 30's and higher. Then I went to Clark Quay and hung out over many MArgarita's with Sailo and his pals(the discussion mailny revolved around how to get the German guy laid)..most in their late 20's I'd say..and then at 12:45 in the night, caught this movie Don(Terrible!!!) with a bunch of undergrads...Except for the content of the movie, overall, think it was a fun Diwali outing.And to think,I imagined I'd have a sucky Diwali with no family around..
Not that I did anything worth remembering in India, that I was ready to feel disappointed about singapore not matching up to Indian standards, but without the pollution and the noise. Diwali isn't Diwali.[In many ways it's much better.]
But I didn't particularly mind cause anyway (as Aby would say) "I don't burst "them" crackers". I don't know what this obsession with "them" is. My friend in singapore, also uses it. It does not sit well with me. Bad enough the sms have slaughtered spellings, now we are set to change grammar too.
I'm telling you people, talking like that, will dampen your Gmat scores.
Anyway, I should stop my homily's. About Diwali,
I had my traditional Oil bath, visited a temple in the morning, asked for blessings for my family and my intellect.Motivated I went to my cubicle and hit the books initially. then couldn't resist, and watched the downloaded version of The Departed on my comp. It was good, but apparently not even close to being as good as the original Hongkong movie.
In the evening, I had I think a most memorable time. I hung out with three sets of very different people. First I had dinner(with wine and desert, all free) with Shwetha's friends and Profs..most in their 30's and higher. Then I went to Clark Quay and hung out over many MArgarita's with Sailo and his pals(the discussion mailny revolved around how to get the German guy laid)..most in their late 20's I'd say..and then at 12:45 in the night, caught this movie Don(Terrible!!!) with a bunch of undergrads...Except for the content of the movie, overall, think it was a fun Diwali outing.And to think,I imagined I'd have a sucky Diwali with no family around..
Thursday, October 19, 2006
A little info and anecdote about Goud Saraswat Brahmins(the sect I belong to)
Saraswat Brahmins form a great proportion of the Hindus in Kashmir, who are called the Kashmiri Pundits. These Kashmiri Brahmins are thought to be the descendants of the Aryans who migrated into India from Central Asia or Eastern Europe (The notion of Aryan migration is being questioned by several scholars). However, these people differentiate themselves from the rest of the Saraswat Brahmins in that they identify their Deity with the Goddess Saraswati, who has been mentioned in the Vedas as the Goddess of Learning. However, the Gaud Saraswat Brahmins residing on the western coast of India (primarily in Maharashtra, Goa, and Karnataka) are thought to have descended from these Kashmiri Brahmins. Substantial evidence has been set forth by several historians relating that the Kashmiri Brahmins migrated to Goa by the eleventh century AD.
To trace the Gaud Saraswat Brahmins ancestry from Kashmir to Goa, one must begin with the story of the famous seer, Saraswata. When there was a famine in northern India, he continued to recite the vedic texts by consuming the fish that the goddess Saraswati had given to him. The brahmins of later generations who accepted fish as a part of their diet were often known to have referred to this story to justify their full-fledged status as brahmins despite their acceptance of fish. Since the acceptance of fish was also prevalent in the culture of many Bengali brahmins and because of the apparent similarities between the languages of the two groups, many Gaud Saraswat Brahmin scholars suggested that their ancesplaces, they maintained some of their religious views while modifying others. In the year 1708, a small group of these migrants had established their own unique sect and initiated a guruparampara. The teachings of the gurus and their dedication to the devotees strengthened the unity of the sect members which has survived till the present day.
Gaud Saraswat Brahmins' fish eating habit finds mention even in Ramanyana. Before performing Rajasuya yagna, Shri Rama asked Lakshmana to invite all the Brahmins for the yagna. Lakshmana invited everybody, except Gaud Saraswat Brahmins. When asked, Lakshmana explained that he observed them eating fish, which was considered non-vegetarian and therefore, they could not be Brahmins. Shri Rama was puzzled and asked Lakshmana to elaborate what he saw. Lakshmana explained how the Brahmins would catch the fish, separate the head and tail from the fish, then using vedic mantras rejoined the head and tail. They would then release the fish in water. The fish would live again! The Brahmins ate the middle portion of the fish. Shri Rama was impressed! Since the Brahmins were not killing the fish, he felt that no Sin was committed. Shri Rama instructed Lakshmana to invite Gaud Saraswat Brahmins to the Rajasuya Yagna.
Courtesy : wikipedia..
Saraswat Brahmins form a great proportion of the Hindus in Kashmir, who are called the Kashmiri Pundits. These Kashmiri Brahmins are thought to be the descendants of the Aryans who migrated into India from Central Asia or Eastern Europe (The notion of Aryan migration is being questioned by several scholars). However, these people differentiate themselves from the rest of the Saraswat Brahmins in that they identify their Deity with the Goddess Saraswati, who has been mentioned in the Vedas as the Goddess of Learning. However, the Gaud Saraswat Brahmins residing on the western coast of India (primarily in Maharashtra, Goa, and Karnataka) are thought to have descended from these Kashmiri Brahmins. Substantial evidence has been set forth by several historians relating that the Kashmiri Brahmins migrated to Goa by the eleventh century AD.
To trace the Gaud Saraswat Brahmins ancestry from Kashmir to Goa, one must begin with the story of the famous seer, Saraswata. When there was a famine in northern India, he continued to recite the vedic texts by consuming the fish that the goddess Saraswati had given to him. The brahmins of later generations who accepted fish as a part of their diet were often known to have referred to this story to justify their full-fledged status as brahmins despite their acceptance of fish. Since the acceptance of fish was also prevalent in the culture of many Bengali brahmins and because of the apparent similarities between the languages of the two groups, many Gaud Saraswat Brahmin scholars suggested that their ancesplaces, they maintained some of their religious views while modifying others. In the year 1708, a small group of these migrants had established their own unique sect and initiated a guruparampara. The teachings of the gurus and their dedication to the devotees strengthened the unity of the sect members which has survived till the present day.
Gaud Saraswat Brahmins' fish eating habit finds mention even in Ramanyana. Before performing Rajasuya yagna, Shri Rama asked Lakshmana to invite all the Brahmins for the yagna. Lakshmana invited everybody, except Gaud Saraswat Brahmins. When asked, Lakshmana explained that he observed them eating fish, which was considered non-vegetarian and therefore, they could not be Brahmins. Shri Rama was puzzled and asked Lakshmana to elaborate what he saw. Lakshmana explained how the Brahmins would catch the fish, separate the head and tail from the fish, then using vedic mantras rejoined the head and tail. They would then release the fish in water. The fish would live again! The Brahmins ate the middle portion of the fish. Shri Rama was impressed! Since the Brahmins were not killing the fish, he felt that no Sin was committed. Shri Rama instructed Lakshmana to invite Gaud Saraswat Brahmins to the Rajasuya Yagna.
Courtesy : wikipedia..
Wednesday, October 18, 2006
the three most feared words in economics:
We are gonna be taking an extra macro econometric course,this and next term, gonna be taught by Adrian Pagan, and he's gonna concentrate on the DSGE Model.
My classmate retorted, "the difficulty can be gauged by the name" , "Dynamic!", "Stochastic", "General Equilibrium!!" Models..
Oh and econometric research is currently out, cause serious research there is generally done by physicists, statisticians and mathematicians. I'll now be concentrating on macroeconometric, less dry and more interesting..and yes I'm back to the Phillip's curve..all hail the New Keynesians!!
We are gonna be taking an extra macro econometric course,this and next term, gonna be taught by Adrian Pagan, and he's gonna concentrate on the DSGE Model.
My classmate retorted, "the difficulty can be gauged by the name" , "Dynamic!", "Stochastic", "General Equilibrium!!" Models..
Oh and econometric research is currently out, cause serious research there is generally done by physicists, statisticians and mathematicians. I'll now be concentrating on macroeconometric, less dry and more interesting..and yes I'm back to the Phillip's curve..all hail the New Keynesians!!
In my music collection i have this set of songs called
Billboard Top Rock and Roll hits 1972 and the songs are absolutely brilliant!
Johnny Nash(not Cash): I can see clearly now the rain s gone..beautiful..especially since it rains so much here. I love listening to it on dull cloudy afternoons..I remember playing it at mathew's house, in his hall overlooking the lovely green garden. Mathew, I think I miss your place more than you(I'm kidding ofcourse:))..
A horse with no name-America..I remember the period when I went about asking people if they knew who'd sung this song. ofcourse, then it didn't strike that it could be googled like all else..
Moody Blues (Nights in White Satin), The temtations(Papa was a rolling stone), The Hollies(Long Cool Woman)..etc. think I got these from Boy George*
Anyway before I get carried away, the point of this post is this song: Alone Again(Naturally)- by Gilbert O'Sullivan.
This song has the amazing ability to depress the hell out of you, anytime..but it's so addictive. I rediscovered it in my music collection today and have been listening to it over and over for the last 20 minutes..but now surprisingly i'm still cheerful. Maybe there's a threshold level of depression for the song to take effect..
It reminded me of 3rd year in college, when I completely cut myself from college life, and used to listen to this song over and over. But it's a lovely song, so if anybody reads this blog at all, he/she should look up the song (and listen to it only when he/she is bored/solving math/playing a game, and Happy).
* aka Aby Eapen
Billboard Top Rock and Roll hits 1972 and the songs are absolutely brilliant!
Johnny Nash(not Cash): I can see clearly now the rain s gone..beautiful..especially since it rains so much here. I love listening to it on dull cloudy afternoons..I remember playing it at mathew's house, in his hall overlooking the lovely green garden. Mathew, I think I miss your place more than you(I'm kidding ofcourse:))..
A horse with no name-America..I remember the period when I went about asking people if they knew who'd sung this song. ofcourse, then it didn't strike that it could be googled like all else..
Moody Blues (Nights in White Satin), The temtations(Papa was a rolling stone), The Hollies(Long Cool Woman)..etc. think I got these from Boy George*
Anyway before I get carried away, the point of this post is this song: Alone Again(Naturally)- by Gilbert O'Sullivan.
This song has the amazing ability to depress the hell out of you, anytime..but it's so addictive. I rediscovered it in my music collection today and have been listening to it over and over for the last 20 minutes..but now surprisingly i'm still cheerful. Maybe there's a threshold level of depression for the song to take effect..
It reminded me of 3rd year in college, when I completely cut myself from college life, and used to listen to this song over and over. But it's a lovely song, so if anybody reads this blog at all, he/she should look up the song (and listen to it only when he/she is bored/solving math/playing a game, and Happy).
* aka Aby Eapen
Sunday, October 15, 2006
Back to Business..
How many songs does that phrase remind me of..
Lets get back to business -eminem
Get Back-The Beatles
Baby's got Back - Some Black Guy(must be..)
Back in Black-AC\DC
Black or White -MJ
:
Classes resume today- I'm perfectly terrified!
Went to Sentosa on Saturday..had a blast! You can actually float in the sea on your back.Good fun. 7 chinese and me. Yeah.. I adapt well. No choice. The American(in class) has bailed out(on me!) and is gonna continue the course next year. So that leaves me the only non chinese in Class..But I guess its fine. I managed so far..and I've got Swetha..and Shru J's Messages. Back to business..
How many songs does that phrase remind me of..
Lets get back to business -eminem
Get Back-The Beatles
Baby's got Back - Some Black Guy(must be..)
Back in Black-AC\DC
Black or White -MJ
:
Classes resume today- I'm perfectly terrified!
Went to Sentosa on Saturday..had a blast! You can actually float in the sea on your back.Good fun. 7 chinese and me. Yeah.. I adapt well. No choice. The American(in class) has bailed out(on me!) and is gonna continue the course next year. So that leaves me the only non chinese in Class..But I guess its fine. I managed so far..and I've got Swetha..and Shru J's Messages. Back to business..
Wednesday, October 11, 2006
Destination Bocconi!!!
Today I was talking to a professor and he was checking with me about future plans. He suggested that since I had age on my side, I should go get a second master's. And then since I was interested in PRice dynamics, said I should go to "Bocconi".
"Bocconi??"
I'm thinking "that sounds Italian"
Apparently,
Monacelli's at Bocconi.
Bocconi's the Place.
And yes!, it's in Italy!!
Maybe I will apply there for a second master's. there's some requirement there to take two EU language's as credits. That'll be pretty cool.
I am considering it. My parents will flip. But let's apply and see..This is so much fun!
Today I was talking to a professor and he was checking with me about future plans. He suggested that since I had age on my side, I should go get a second master's. And then since I was interested in PRice dynamics, said I should go to "Bocconi".
"Bocconi??"
I'm thinking "that sounds Italian"
Apparently,
Monacelli's at Bocconi.
Bocconi's the Place.
And yes!, it's in Italy!!
Maybe I will apply there for a second master's. there's some requirement there to take two EU language's as credits. That'll be pretty cool.
I am considering it. My parents will flip. But let's apply and see..This is so much fun!
Monday, October 09, 2006
2006 Nobel Prize: Edmund Phelps!!! that's Prof Hoon's thesis advisor in Columbia!!! Hurrah..
Done with Midterms. Can't say how they went.
Anyway, I think I put on some weight while I was giving them.
So obviously the first thing I did was hit the gym, after handing in my papers. IT felt so good. I love exercising. I don't buy the bull that, because I feel comfortable in my skin, I don't need to watch my weight. Watching your weight must come as a result of your desire not to abuse your body. Why trouble the poor thing..
I just spoke to my hopefully future supervisor of my thesis. Panel Data it is..
Got to spend my mid term break reading up. Waiting for Saturday..my classmates and I will be going to Sentosa. That should be fun. I also hope to catch this movie called "Little Miss Sunshine", some time this week or today. Shwetha's classes have started and then she'll start work..I'm out of company again:(
I'm going to swim today..the first time after I got my eye operated. I hope nothing happens. But then, if my eyes can handle 'Head and Shoulders', what's a little chlorine I say. Although my mother's a little worried..there's only so many days a swimmer can go without swimming(in the oven known as Singapore).
Anyway, I think I put on some weight while I was giving them.
So obviously the first thing I did was hit the gym, after handing in my papers. IT felt so good. I love exercising. I don't buy the bull that, because I feel comfortable in my skin, I don't need to watch my weight. Watching your weight must come as a result of your desire not to abuse your body. Why trouble the poor thing..
I just spoke to my hopefully future supervisor of my thesis. Panel Data it is..
Got to spend my mid term break reading up. Waiting for Saturday..my classmates and I will be going to Sentosa. That should be fun. I also hope to catch this movie called "Little Miss Sunshine", some time this week or today. Shwetha's classes have started and then she'll start work..I'm out of company again:(
I'm going to swim today..the first time after I got my eye operated. I hope nothing happens. But then, if my eyes can handle 'Head and Shoulders', what's a little chlorine I say. Although my mother's a little worried..there's only so many days a swimmer can go without swimming(in the oven known as Singapore).
Tuesday, October 03, 2006
My five day econometrics examinnation is going to start in 50 minutes. I'm shitting in my pants. Going by my earlier exams, it would imply I'm going to be staring at the questions for 3*40 hours instead of 3. The Macro paper yesterday was just brilliant. I've never faced such a challenging paper in my life. Not even those olympiads I used to take in Bangalore..But it was fun nonetheless. I required thinking. That I might get a zero is a good possibility, but then as some dumbass(who never gave Prof Hoon's Macro paper's) said".."It's not whether you win or lose, it's how you play the game"..
[Please skip this portion, until the end..it's dead boring]
Oh Economics is such a wonderful subject. You always work at it backwards. For example, after a great deal of calculation, the equations in the end show that the level of Capital per labour, the wage rate and the effective wage rate are all independent of this thing called "theta", which denotes the proclivity to consume more and more leisure.
After the math is done, some of us more used to equations than intuition are fairly happy..Until, some who generally prefer math to accompanied by intuition, ask,"But why should it be independent of theta". This is where the gas begins..
It's a lot of fun coming up with various hypothesis:
1) there is no direct relation and that is all that counts.
2) An indirect relation exists and must be accounted for..so in that case maybe it's a set of two opposing forces that cancel of the effect of theta
3) Assuming the second to make more sense, go ahead in more and one way to "invent" the two opposing effects.
As lets say leisure increase,more people at the beach than in the office, implies, supply falls, implies, wage rate increases... therefore as theta rises, wage rate rises.
Now, what could possibly be the reason for an opposing effect. Start theorizing again. What variable have we left out?..interest rate!! technology shock, theta rises,leisure rises, interest falls, MPK falls, Investment falls, demand falls, wage falls..AHA!!
This is how most of economics works. You figure what it is you want to prove and there's such got to be a way to do it.
30 mins for Exam to start. I really ought to be revising..
Like yesterday, Martin(my cubicle neighbour) and I were walking back home and as usual disagreeing about something. It started with how marting eats an egg in the morning everyday. I said the yolk as cholestrol, which is not good for the heart. I said at home we always throw away the yellow.
He gave the usual, we should not waste things when there are so many poor. I said inaddition to it being wierd to give just the yellow to the poor, I always believe, that if you've paid for it, whether the thing goes into the bin or your body, economically speaking, it's the same, it's not wasted. You paid for it!
Then that started a discussion on capitalism etc. Then surprisingly he gave me an example, of a story in china where there was a poor family, and it was poor because nobody bought how much was created..so then, it's the circle again. Buy extra,not good. Buy less, not good.
Gotto go catch lunch now.
[Please skip this portion, until the end..it's dead boring]
Oh Economics is such a wonderful subject. You always work at it backwards. For example, after a great deal of calculation, the equations in the end show that the level of Capital per labour, the wage rate and the effective wage rate are all independent of this thing called "theta", which denotes the proclivity to consume more and more leisure.
After the math is done, some of us more used to equations than intuition are fairly happy..Until, some who generally prefer math to accompanied by intuition, ask,"But why should it be independent of theta". This is where the gas begins..
It's a lot of fun coming up with various hypothesis:
1) there is no direct relation and that is all that counts.
2) An indirect relation exists and must be accounted for..so in that case maybe it's a set of two opposing forces that cancel of the effect of theta
3) Assuming the second to make more sense, go ahead in more and one way to "invent" the two opposing effects.
As lets say leisure increase,more people at the beach than in the office, implies, supply falls, implies, wage rate increases... therefore as theta rises, wage rate rises.
Now, what could possibly be the reason for an opposing effect. Start theorizing again. What variable have we left out?..interest rate!! technology shock, theta rises,leisure rises, interest falls, MPK falls, Investment falls, demand falls, wage falls..AHA!!
This is how most of economics works. You figure what it is you want to prove and there's such got to be a way to do it.
30 mins for Exam to start. I really ought to be revising..
Like yesterday, Martin(my cubicle neighbour) and I were walking back home and as usual disagreeing about something. It started with how marting eats an egg in the morning everyday. I said the yolk as cholestrol, which is not good for the heart. I said at home we always throw away the yellow.
He gave the usual, we should not waste things when there are so many poor. I said inaddition to it being wierd to give just the yellow to the poor, I always believe, that if you've paid for it, whether the thing goes into the bin or your body, economically speaking, it's the same, it's not wasted. You paid for it!
Then that started a discussion on capitalism etc. Then surprisingly he gave me an example, of a story in china where there was a poor family, and it was poor because nobody bought how much was created..so then, it's the circle again. Buy extra,not good. Buy less, not good.
Gotto go catch lunch now.
Monday, October 02, 2006
7 OST's that can temporarily take away exam blues..
1) Perfect Day- Lou Reed (Trainspottin methinks!)
2) Gettin in Tune - The Who (Jerry Maguire)
3) King of the Road - Roger Miller (Brokeback Mountain..has a brilliant Soundtrack..thank you Poneiii!)
4) Amelie - Yann Tierson(ALL of them!)
5) Dream A Little Of Me -Edith Piaf...(Ah! French Kiss!!)
6) The Lion Sleeps Tonight - REM (what else..Lion King)
And Ofcourse!!
7) Lets Call the whole thing off - Ella Fitzgerald & Louis Armstrong (When Harry Met Sally)
Update:
I don't know if I can refer to these songs as OST's as OST stands for Original Sound Track.. and some songs are older than the respective movies.
1) Perfect Day- Lou Reed (Trainspottin methinks!)
2) Gettin in Tune - The Who (Jerry Maguire)
3) King of the Road - Roger Miller (Brokeback Mountain..has a brilliant Soundtrack..thank you Poneiii!)
4) Amelie - Yann Tierson(ALL of them!)
5) Dream A Little Of Me -Edith Piaf...(Ah! French Kiss!!)
6) The Lion Sleeps Tonight - REM (what else..Lion King)
And Ofcourse!!
7) Lets Call the whole thing off - Ella Fitzgerald & Louis Armstrong (When Harry Met Sally)
Update:
I don't know if I can refer to these songs as OST's as OST stands for Original Sound Track.. and some songs are older than the respective movies.
