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Dragon Boat #Zongzi! #Foodie Fun!

18 Jun

I have awesome #students!! Yesterday was the #Chinese national #DragonBoat #Festival where college close down and Everyone eats yummy Food at home. We were forced to have #class instead so some of my darlings brought me #zongzi – bamboo or banana leaf wrapped glutinous #rice triangles. It’sva very popular Traditional dish here in #China. Wasn’t that sweet of them?!?

**They are calling them ‘Social Surplus’ zongzi because we are studying the Surplus triangle in class Lol 😛

12 Jun
OMG this week is confusing 😂
There are about 28 sophomores re-taking economics this semester. The school has changed our schedule for this week 4 times now.
 
There are also about 4 of them failing the class right now. I am setting up one-on-one meetings with them.
 
Problem: They call meetings ‘classes’ — So my conversations go something like this: 
 
Me: Hey darling, we have class at 8:30am now.
 
Student: So I should come to your office then?
 
Me: No, that is still the same. This is class with your friends.
 
Student: Oh. . . .
 
Me: Hey darlin, our class was changed to 7:00pm so we need to rearrange our meeting to another time.
 
Student 2: So. . . . I don’t have class at 7:00.
 
Me: No, you do have class at 7:00. But we don’t have our meeting.
 
Student 2: Oh, I will come to your office at 7:00.
 
Me: 😅 No. . . that’s the class with your friends.
 
Student 2: -_-   
Me: . . . . . Guess what, Class is now moved to 3:30pm. . . . . So we need to move our meeting and the class. 
Student 3: (sobbing face).
 
Me: This is so confusing. . . .
 
If you like this, and want to see some more Teaching Funnies, check out my Facebook Page — Foreign Academics

What is the #Supply (供给) Curve?

8 Jun

What is the #Supply Curve in #Economics?
Supply is the number of products currently available for sale.

In #Microeconomics, we often look at the supply of one company (how many that company has ready for trade).

In #Macroeconomics, we sometimes talk about Aggregate Supply (how many are up for sale in the entire market).

Below is a simple explanation of the Supply Graph and what you need to know!

Let’s say that Mike is buying pencils from Metro (Màidélóng)

We want to know what price should Mike offer?

Suipply Curve.jpg

This picture is very helpful! The light Green Line (supply ) tells us how many pencils Metro will have available for sale at each price.

Situation #1: The price is $3.00, Metro will have 30 pencils available for sale.

Situation #2: The price is $1.00, Metro will have 10 pencils available for sale.

Situation #3: The price is $4.00 and Mike wants 25 pencils. Can Mike buy those 25 from Metro?

Answer: Yes! Mike wants 25 pencils and Metro has 40 pencils. So Mike can buy 25 pencils at Metro for $4.

Situation #4: The price is $4.00 and Mike wants 50 pencils. Can Mike buy 50 pencils from Metro?

Answer: No! Mike wants 50 pencils, but Metro only has 40. So Mike can get 25 pencils or even 40 pencils. But he cannot buy 50 pencils for $4.00 because the store will not have enough.

So we could draw the picture like this:

Supply 2

So what is the Supply Curve?

  • It tells us the MAXIMUM (最大) number of products Metro will have available for sale at each price.
  • It tells us how many products Mike CANNOT buy.
  • It gives us an idea of what price we should choose. For example, if the price is $8.00, Mike can buy 80 pencils! But if the price is $1, he can only buy 5 pencils.

Law of Supply (供给法则) ~ When price increases (), more products will be available for sale.

My first #Earthquake!

3 Jun

Wow! Just felt my first #earthquake! 5.7 in Songyuan (about 1.5hr #train Ride from us). Hoping Everyone is okay!

Are You Feeling Blue?

29 May

Are you feeling ‘blue’?
Down, low, sad. . . . a color ashamed and unwanted?
Depressed —
Are you feeling ‘blue’?

Are you Feeling ‘black’?
darkness, despair, a night without stars and lost without a compass
Shadows —
Underground coffin where hope is not even a light in the furthest tip of your muddy thoughts

Are you Feeling ‘red’?
Blood draining from your heart
Rage —
A world where there is only Mars and no Venus, enemies and doom without the love to make it worthwhile

Are you Feeling ‘green’?
Betrayal seeping into your thoughts
Jealousy —
Grass is always greener on the other side but your life is rotting like leaves left too long in the rain.

Are you Feeling ‘yellow’?
Scared of a future that does not look like a future
Coward—
Yesterday a nightmare, Tomorrow a worry, and Today is not your present.

Are you Feeling ‘white’?
Innocence buried in a chest in a box in a crate in the warehouse
Unworthy—
Nothing shows the dirt more than the white background displaying it

Are you Feeling ‘grey’?
Existing with neither emotion nor vibrancy nor beauty
Empty
Life an old movie showing a pale imitation of a world imagined in color but never experienced

But Feeling ‘blue’?
The color of the sky in a field where there is no world and only you
The color of the ocean stretching far beyond today and tomorrow
The color of the night when the judging eyes of a glaring sun have softened to a soothing glimmer
The color of
Peace—
Rest—
Hope —
Silence—
Are you feeling ‘blue’? I hope you do.

 

 

 

 

My first #Earthquake!

27 May

Wow! Just felt my first #earthquake! 5.7 in Songyuan (about 1.5hr #train Ride from us). Hoping Everyone is okay!

Economy Outline for #Macroeconomics

21 May

economic-outline.jpg

This picture is designed for my Macroeconomics students (and any others who may find it useful). 

In Economics, we are given a very helpful “Photo” or picture of the economy called the Circular Flow Diagram. (remember, “circular flow” means ‘to go in a circle’). 

circular-flow-diagram.jpg

We know from this picture that every economy is made up of two kinds of stores — 1) those that sell products they have created to consumers (Product Market) and 2) those that sell the factors of production like land, labor, and capital (Factors of Production Market).

Economic Trade = Goods Market + Factors of Production Market

Each market is then made up of Supply and Demand.  Supply is how many products the store has available for sale. Demand is how many products the buyer will purchase if given the opportunity. 

Let’s say the Quantity Supplied is 20. . . . why 20? Why not 0? What can we do to make the store offer more? What can we do to have lower supply?

Supply is made up of six main factors:

  • Price of the product
  • Price of Inputs (cost of making the product)
  • Price of Related Goods in Supply (for example, the price / revenue of an alternative product)
  • Level of Technology
  • Expected Future Price
  • Number of Companies in the market.

Demand is also made up of six main factors:

  • Price of the product
  • Income of the buyers
  • Price of Related Goods in Demand (for example, the price/cost of buying an alternative product)
  • Level of Taste (do you like it)
  • Expected Future Price
  • Number of Buyers in the market.

 

Everything we study in Microeconomics and Macroeconomics fits into this picture of the economy.   All of our resources go into one of the two markets. All of our topics fit into Supply and/or Demand.  All issues are somewhere in the factors of supply or demand.

Unemployment for example is often a problem in demand (no companies want to hire).  Where in demand? — Maybe Taste (they don’t like the new graduates, think they are lazy) or Price (the workers are demanding higher salaries). 

GDP is an issue involving lots of factors — Number of Buyers (population), Income, Prices, etc.

Price Controls & Equilibrium – Prices, Price of Inputs, Price of Related Goods, Future Prices

Interest Rates – Prices and Income

Inflation – Prices and Income

As long as you understand the factors of the economy, you should start to see why we look at the things we do for economics classes!

 

 

What is the #DemandCurve in #Economics?

18 May

What is the #Demand Curve in #Economics?
Demand is the number of products the buyers are willing to purchase.

In #Microeconomics, we often look at the demand of one company or buyer.

In #Macroeconomics, we sometimes talk about Aggregate Demand (how many are will all buyers in the market purchase at each price). 

Below is a simple explanation of the Supply Graph and what you need to know!

Let’s say that Mike is buying pencils from Metro (Màidélóng)

We want to know what price should Metro charge?

Demand Curve.jpg

This picture is very helpful! The light Green Line  (Demand – 需求) tells us how many pencils Mike will buy at each price.

Situation #1: The price is $3.00, Mike is willing to buy 50 pencils.

Situation #2: The price is $1.00, Mike is willing to buy 70 pencils.

Situation #3: The price is $4.00 and Metro has 30 pencils. Will Mike buy them?

Answer: Yes! Mike wants 40 pencils, of course he would buy 30 if they are available.

Situation #4: The price is $4.00 and Metro has 50 pencils. Will Mike buy them?

Answer: No! Mike only wants 40 pencils, so he is never going to buy 50.

So we could draw the picture like this:

Demand Possibility.jpg

So what is the Demand (需求) Curve?

  • It tells us the MAXIMUM (最大) number of products Mike will buy at each price.
  • It tells us how many products Mike will NOT buy.
  • It gives us an idea of what price we should choose. For example, if the price is $8.00, Mike won’t buy any pencils!

Law of Demand (需求法则) ~ When price increases (), buyers will be willing to buyer less products than before (when price goes up, we buy less).

Guess What’s for #Dinner! #Seafood!

11 May

#Starfish and #Sea slugs. . . It’s What’s for dinner 😂🍴🐠🦀

Price of Related Goods (PR) in #Economics

3 May

An #Infograph for my Chinese students in #microeconomics and #macroeconomics 

When we study Supply and Demand in #economics, we learned that one of the factors that changes them both is Price of Related Goods.  

  • Supply — The number of products the company has available to sell at all prices
  • Demand — The number of products the buyers will purchase at all prices
  • Quantity Supplied — The number of products supplied at a specific price
  • Quantity Demanded — The number of products demanded at a specific price
  • Inverse Relationship — When Y ↑   then X ↓ — Line goes down
  • Direct Relationship — When Y ↑  then X   ↑ — Line goes up

#business #studyguide #econ 

new-piktochart_30078936

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