I was heavily into it, and my likeness for the box office is actually a rememnant of that.


It got to the point where I wanted to become an international economist, but suddenly I realized I liked literature more

Don't ask how that happens, it just does.

So...

Recently, I'e become more interested in it again. Not at the expense of lit, more as a hobby. Is anyone else out there into it?

Maybe we can make this an economics discussion thread of sorts.

I am.

I'm probbaly going to take a class or two on econometrics soon, too.

if I understood it better I bet I would.

Which issues are you interested in specifically?


For me, inspite of myself, I always end up reading about China.

i'm with rusty. i'd probably be more interested if i understood it better.

International trade and the theory of comparative advantage.

I have very little interest in the predictions made by economists, on the other hand. I find them to be unsophisticated guesses.

I just read up on it. Seems straightforward enough. Do you support the theory because it provides a justification for trade even in cases where a country is more effective in production than its trading partner?


I'm trying to think of a possible real-life scenario that can act as an example of the theory in practice, to a certain extent. Tell me how this hypothetical example is:


Due to technological innovations, computer production in Japan is much cheaper than in China, as is the production of TVs. Computers are twice as cheap to make in Japan as in China, while television sets are one and a half times cheaper. Realizing that this is the case, Japan decides to engage in trade with China by selling them the computers. Now Japan, in exchange, will buy the TVs from China, even though it is much easier to produce them in Japan. That is because, for as long as computers are cheaper to produce in Japan, and are cheaper to produce relative to China than TVs are, it is more profitable to do so.

So Japan will continue to engage in such trade for as long as its computer production is cheaper than in China and cheaper in relation to China's than the production of TVs.

Is that what the theory is about?

Me? Hahahaha. No. I mean, I'd like to learn. If this does start a conversation of sorts, I'll be in here frequently, but I'm hardly even a n00b at it.

I have a minor in economics, and I'm interested in many aspects of it. Being a math guy, I'm attracted to theories, models, and numbers. On the macro side, I like to study about how monetary policy affects everything: trade deficit, exchange rate, etc. On the micro side, I'm mostly interested in game theory and financial market. This year I also studied some corporate finance on my own.

That is one way to look at it Box I believe.

There is also something like this ...

Austrailia can harvest bananna's at a rate of 6 per hour. Or they can harvest Coconuts at the rate of 3 per hour.

China on the other hand harvests only 2 bananna's per hour and 2 coconuts per hour.

Even though Austrailia holds the comparative advantage in BOTH the harvest of banannas and coconuts, it still makes sense to trade with China. This is due to the fact that they can harvest more effeciently if they harvest bananna's or something or other. I never paid much attention in class.

KJ

I am. Very.

Social Science (i.e. Economy) is my major.

Pretty much. It is one of the most intriguing concepts in economics in that it produces a non-obvious result (you shouldn't necessarily produce something even if you hold an absolute advantage in producing it), yet it is very logical and concise.

I use to ace all classes related to economics .... never pursued it though.

Eagle, thats an example i learnt in my microecon class ... simply brilliant

As of now, I plan on reading Ulrich Beck's "Risk Society" soon.

its horrible.

You read it?

maybe

maybe....not.

yea ..

felt like saying it : )

meant felt like saying "its horrible" .. i haven't actualy read it ...

Nice. You know, I'd expect at least some of the box-office nuts here and at BOM to be into economics, since this relates to it in many ways. I certainly see my interest in the box office as an example of that.