Lecture #4 "I,Pencil / Why Economics?" (09/09/2011)

       Today's lecture now took into topic something we might asked ourselves when we were deciding whether or not to major in Economics. In my opinion, a very interesting and important topic was touched today in class which was "Why Economics?". However before getting into that topic he talked to us about the I,Pencil, which is a very transcendental essay in economists study.

"I,Pencil" 
 I would not explain or give a brief explanations of this since I will dedicate a blog to the analysis and observations of this piece of literature. However it is important to me to say that it was touched and mention in our lecture this past Friday. Something that Rizzo actually established was that this will be the last time we will spent time in class discussing our readings. However I might state something that it is interesting to me and is the fact that there is no presence of a invisible hand or a higher power. A group of millions of people completing their maybe infinitesimal tasks will sum up together to create something that might seem simple or even impossible.

Economics?
Everyday and I could say every second our world is on the move. What do I mean? Every moment that yo might spent eating, sleeping, studying or attending your economics class all the world is progressing. Things like technology, social factors or any other go fast and people sometimes don't realize what is really happening outside their cities or the reason for a lot of things. For me and for what I have been learning as well of what I heard this past lecture economics is this link or binoculars that you use to look at what is happening at the world but not only look at it but also understand it. Economists are those who are not only looking at what 's happening or the reasons of why things are going either right or wrong but also those individuals that look forward and try to see things before they happen.

What those Economics covers?
Let us open our eyes and realize that economics is not just about the money or other factors that link money. Economics is about everything that happens and I might be consider too extreme by saying that economics can cover the creation of new products, social movements, political issues, financial crisis and even people daily's decisions that affect the worlds rotation.  People's social or even religions desicions might affect the way the world moves or how business shall act and then how politicians shall decide. I have concluded and understood out of the lecture that economists is about knowing how to understand those factors and not just talking without first thinking, analyzing, investigating and then talking with some kind of backup information and having a stronger argument.

Economics is a social science that could superficially analyze the others to complement itself. I shall also say out loud that our world and economy is now better that before. Also people should not complain about costs and other factors without knowing how much delivering or giving that service might have cost.

What is economics......
More than you could think of. 

-Rizzo

Daniel "Danny Boy" Gaona