June 18, 2013

First day meeting THE Princess 

       Who is Ms. Princess? I barely know her at all. All I knew is that she's our teacher in Economics this year and we've been asked to write our thoughts about our every meetings (joke it's part of my idea for the project too ) So I chose blogging. Since she approved and that's what I'm comfortable to do with. Oh my gosh! I forgot to mentioned that she graduated in Philippine Normal University  ( PNU ) just like Ms. Nori. Wanna know a mind blowing fact about Ms. Princess oh wait did I mentioned that her name is so cute "Princess" very princess-ish. Okay I got distracted, going back, the mind blowing fact that I'm talking about is that she's only 21 yrs old? Unbelievable right? She looks young and happy. She always smiles. Even though we kinda looked "serious" during that time. We're always like that when it's the first day.  She still managed to smile and be enjoyable at us. But I swear to everyone, we're not serious we're the complete opposite of serious. We're more like "makulit and maingay". And did I tell you that we conducted this unusual activity were we got to introduced ourselves by representing something that would describe us. While others search for something that would describe themselves I already know what's mine. My bracelet. I picked it because I love fashion. It goes very well with all of my outfits. It's my everyday bracelet. I wouldn't live the house without wearing it. I would feel incomplete without it. Oh wait, did I mentioned already that I'm jotting down my thoughts now  (since she asked us to do for our project, what a very attentive student of me. kidding ) while we're waiting for the bell to ring?  Nope not yet. And you better believe it. Okay I gotta go because she or maybe my classmates would be curious on what I'm writing about since we don't need to take down notes. 

       Btw, she mentioned about us doing reporting next meeting. Oh well gotta do some research about what to share to the class for next meeting. 

June 20, 2013

     I feel so confident during Economics today. Because I did what Ms. Princess asked us to do which is do some advance reading about Economics obviously. And it was worth it. Because I got to recite so many times and I easily learned the lesson. Oohh, we had an activity where we will make our own "Plan of Activity" for our own business. Erika and I partnered. We chose a clothing store. Since we don't know what our store is called, Erika said "Mitzi's Secret" hahahaha just like Victoria's Secret. Hahaha oh come on guys, laugh with me, give me some credit here I thought it was funny "Mitzi's Secret" hahaha okay fine just humor me but I'll stop the "Mitzi's Secret" joke now. Anyways, the others chose a sari-sari store, an academy, a fast food chain etc. . We were actually the last one called to present our activity since the bell rang already. But the others still haven't so I was glad when Ms. Princess said that they'll just present it next meeting. Mwahahaha take that!  It's only fair to continue next meeting. 

   I learned that the basic economic questions are very important. Like the first question "what to produce?". We may think that this isn't important but it is! Because we must choose what to produce and to know what will give greater value to society. The second question is "how much to produce?" Now that we answered the first question we're now able to identify which goods and services to produce, so now with the second question we can now determine how much of each should be produced by the society. The third question is "how to produce?" After determining what goods and services to produce and in what quantities, we have to determine the best combination of factors to produce such. And with the last question "for whom to produce?" With the three questions answered, we have to ask ourselves who shall  consume the goods and services produce. Now, I know that all of these questions are very important because without these I'm sure we'll flunk and suck in making business and we'll have a poor economy.  

SCOPE OF ECONOMICS

              Oh my gosh I just humiliated myself in front of my classmates and Ms. Princess. Actually it's not just me but also my group mates. Our cheer was  horrible because we weren't prepared and didn't practice it. To be honest we didn't have one until I asked GL, my group mate,  to create one, good thing he composed one. Our cheers sucked. We're not synchronize. But the other team were prepared and created a good cheer. After the group discussion , Ms. Princess introduced about microeconomics and macroeconomics and some lesson  about computing that involves dependent and independent variable.  Oh okay what's microeconomics and macroeconomics? Well, these are the two branches of the study of economics. So what's microeconomics now? This is where how individual markets work. It focuses on how individuals  make their choices  and the interaction of such decisions in the particular market. While the microeconomics look at the individual markets well the macroeconomics is the opposite of it. It looks at the economy as a whole. It looks at aggregate prices, production and income. 

         I was already nauseating because I found it kinda hard to understand thankfully we're all saved by the bell, we'll just learn it further next meeting. 

     

ECONOMICS AS A SCIENCE

         When I found out that science involves economics I was like " oh wow economics is still related to science? Oh come on, give us a break. " But after the discussion I now learned that science is really important in economics because this involves the scientific approach. The sciences are divided into two major groups the natural and social. In natural science this includes the biology, physics and chemistry it deals with the  physical objects or  phenomena. Meanwhile,  social sciences such as sociology, psychology, anthropology deals with the interaction of individual groups and institutions that make up society. Ergo, economics is a social science.  I now know because it is a science. Which means it is a systematic body of knowledge which utilizes the scientific approach in explaining how society allocates scarce resources among alternative wants that need to be satisfied. It is social because its central subject is man and how he interacts with other elements of society. 

ECONOMICS AND OTHER SCIENCES

                 Aaaahhhh the never ending Science, well now it is even worse because it involves mathematics oh come on now! Well okay I'm not gonna complain now but as early as now I'm expecting the unexpected. I learned that economics is sooooo soooo very very broad. Yes, wrong grammar but I'm right, right? But okay, I'm starting to accept that even in economics we'll handle mathematics. Well, that's economics. Actually, it is  impossible to study economics without it. Because it involves equations tables and graphs and these are helpful for economists. Because they use these to understand and manipulate equations. They also use geometry statistics for tabulating data and represent graphs. I've never been thankful that mathematics exists because if it doesn't then oh my gosh I don't know what will happen to our economy. Oh well, here comes the never ending physics, chemistry and biology this is so hard but I must say without these I'm utterly sure that we won't have technology ( oh heck no! ) and we can't appropriately use our resources. The next is history. I now know why it is part of economics. It is because economists rely on history - the historical data or the economics data- they need all of it to study the society's economy and to provide us with what information they needed to make plans and theories. Oh dear,sociology. Sociology is really important because it provides information on human social relations that helps economists understand the interaction  among various economic units. Also, psychology is important  because this gives us especially to the economists the knowledge why humans act the way they do and how they learn and change. It is important to the economics because with the help of these information they can study how individuals make economic decisions. Lastly,  the ethics. Okay I'll say it again it is important (oh okay everything is important in economics) because it gives the economists a better judgement on how to achieve economic goals. After all the things that I've said the main point is that everyday, okay maybe not everyday that just sucks, we shouldn't grieve that we study mathematics, physics, chemistry, biology, history, sociology, psychology and ethics  because all of these are worth learning because if it isn't then oh well, no future for us. 

TOOLS OF ECONOMIC ANALYSIS

       

       Well, if science is involve in economics, of course mathematics is involve too. It is important because economic decisions have to be based on precise measures in order to get correct results. When we hear the word "mathematics"  our head instantly aches but in economics it simply makes it easier to understand the underlying logical relationships among variables. Okay, dear mathematics, you're now forgiven for this time but next time no. hahahaha Before, I don't exactly know the use of graphs in economics but now I know why it's use and it's importance because it presents economic information clearly and illustrate the relationship among economic variables. Graphs are widely used in economics to explain data. The characteristics of data and theories are better understood if they are illustrated by means of graphs. While graphs are used, statistical analysis are used too you know. It is used to test hypothesis regarding the relationship among economic variables. 

NATURAL RESOURCES

            Hooray for a cancelled quiz!  Yes, you can celebrate with me, I know you feel what I feel when a quiz is cancelled. Seriously, I was really or should I say  we were really glad when Ms. Princess announced us that the quiz was cancelled!  ( oh yeah! ) Because I wasn't prepared or should I say again,  we weren't prepared. Okay, go ahead think of us as some lazy students but we just didn't easily understand the lesson right away. We've learned slope already but when it was applied to Economics I was like "oh my gosh what is slope again?  I don't remember it " We rant to Ms. Princess that we're still in the processing mode. So she explained it again and gave us some SW. By that time, I'm actually getting it. You know, I really adore Ms. Princess. Because when we said that we still didn't get it, she's willing to help us understand. No trace of irritation or annoyance etched on her face. Only patience and understanding. Even though we're in the star section (which is the trouble anyway ) she didn't expect us to always easily understand it right away. Because some teachers when we don't get it, for me, I think they will get irritated, have shock  and impatient look mark on their beautiful faces. Since we're in the "star section" they're expecting extravagant intelligence on us. Seriously? We're still normal students that have the decency to not get the lessons right away because we're not some totally advance freak students who always ace at everything. Hey, don't get me wrong but I'm not saying that I hate being in the star section, actually, I love everything about it except for the attitude of some teachers when they hear the word "star section". Anyways, that's  when it hit me that she's not that bad after all. After our SW,  we discussed about natural resources in the Philippines. We even had another SW but with a partner. We're asked to enumerate some natural resources in the Philippines and have to label it if it's Land, Fisheries and Aquatic and Mineral resources. 

       There are three classifications of Natural resources these are: land, fisheries and aquatic and mineral resources. It greatly affects the economic activity because it is needed for the source of food, fuel, medicine, construction materials and other materials used in production. Yeah I know, it's all cliches. But it is good that I recall these again to remind me to conserve the natural resources so that we can still preserve and use these for the future.