Thursday, January 17, 2008

All life is Economics

"Economics is, the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. Lionel Robbins" Almost everything in life deals with economics in some way. Every time you buy something, give or receive money, work at a job, you are participating in the cycle of economics. Every time you make a choice to get something over something else you are giving up something to receive something, also, because there is a limited amount to everything in our world scarcity will always exist, these are both other issues economics deals with.

While planning for my own future i have had to look at many factors that are controlled by economics to help me choose a path that will most likely help me succeed. While looking at my major I had to look for something that I would be good at but also something that is needed, that is why i Decided to go in to computer science and engineering. With our world constantly trying to jump forward in our progress in technology it is a field that is in constant need of more people. This is an important thing to look at, if you are planning on going in to a field that in not a great amount of need you will probably have a hard time finding a job.

I also had to look at if I am not very successful in finding a career with my major, that's why it is good to pick a minor, that way you are not "putting all your eggs in one basket." The career i am looking in to for my minor is safety, at the moment almost any company is looking for someone that can fulfill this position because it is such an overlooked field. Second with all the eviormentalist movements companies constantly need people with training to check their machines to make sure they cannot be sued. When planning something you must realize that the economy can always change so it is a good idea to have a second course for you to fall back on.

My plans for the future are mostly centered around a crucial part of economics, supply and demand. This controls a huge portion of our world, if something is in great demand and is in low supply, its price will raise, at the same time if something is in low demand and great supply then its price will have to drop. You want to be in an area that demand is going to go up in and you want to get out of something that you can see demand dropping in.

Seeing that economics plays such a crucial role in everything we choose and how it can change so quickly we would want something that would guide the choices we should make. This is where models come in, people make models to use the past to help them see where the economic market might be going, but since these can not passably include everything they can not be completely trusted and most of the time you are taking a chance. This is why the quote "All life is Economics is so true," everything we do and choose plays a role and the choices we make can greatly effect our lives, we can never escape economics.