To give credit to their remarkable understanding, I would like to feature them on this post.
Below is their verbatim statements about it.
"One thing I learned fromthe forum is, well, how to be economically efficient. The speaker once mentioned about the seatings in a jeepney. He said, if you were to ride a jeepney, where would you seat? passenger's seat? at the back of the driver? or at the most back of the jeepney? One thing/answer popped into my mind, it would be at the most back of the jeepney, because it is what I always do. In my case, it is pretty efficient because I no longer have to walk when I am about to get out of the jeepney. But in the case of the new riders/passengers, it is obviously inefficient because they will have to walk further, and experience the "masikip" inside of the jeepney."
GAYOL, Gale
"The seminar was divided into three parts. These were definition of economics, law of demand and about crimes. From these talks, I learned that economics is everywhere, we feel it everyday.
First part of the talk was definition of economics, and economics is a study of value-maximizing behavior, to include self-interest, altruism, guilt, shame. The speaker emphasized guilt and shame. Guilt is internal while shame is external and it is how other people think one's behavior. But he told us that there is a new definition of economy that is caring about each other.
Next was law of demand. He used example of taking care of child and riding a jeepney to relate law of demand in our everyday life. But taking care of a child will not affect the law of demand because it doesn't relate the price of money.
Lastly, he talked about crimes. According to him, crime is result of lack of understanding, lack of education. Lack of education means many children can't go to school, and somehow that tells us the condition of country's economy.
I was disappointed with other students specially who seated at the back. Even the guest is talking, they were so noisy and noisy. I was shamed as an Atenean. The noise was like in a zoo. I feel sorry to the speaker that we show him disrespect behavior."
YAMAGATA, Tamami (2A-HRM)
"My learnings about the forum on Everyday Economics that was conducted by Dr. Antong Victorio, MPP, PhD
*What is Economics?
-According to Gary Becker, it is the study of value-maximizing behaviour.
-According to Steven Levitt, who is the author of Freakonomics, it is the study of incentives.
*Some motivators: Self-interest, altruism, guilt, shame
*GUILT VS. SHAME
-Guilt ---> internal (what conscience says)
-Shame ----> external (what others say/think of you)
Example given in the forum: "Picture"
1st took - the child was sleeping
2nd took - the child woke up and smiled at the camera. He did this
because he felt shame, not guilt.
*The law of Demand
-pervasive and powerful for explaining everyday experiences
-nto always work outside self-interest
Example given in the forum: The case of fines for late pick-ups.
-It was not the price/money that motivates the parents, but the
guilt/shame they felt.
Therefore, prices are not strong motivations.
*Negative Externality.
-Example: pollution (caused by others)
-Tax a commodity ---> to lessen pollution
*Once people are altruistic, losses of negative externality are automatically removed.
*Incentives create unexpected outcomes.
The forum on Everyday Economics is such a great help for me to learn more about the subject, economics. For all the things I've learned in that day, I am confident that I can use this in my everyday life journey from now on."
GALENDEZ, Tessa Dianne A.
"...ORDINARY DECISIONS CAN HAVE WIDE-RANGING
CONSEQUENCES."
No comments:
Post a Comment