When you are a college professor, you are perpetually covered in chalk 😂 Everything is chalky! Backpack, usb, shirt, hands, water bottle. My lungs are coated in the stuff. Chalk haunts my nightmares 😂
#Economics 101 ~ Absolute Advantage, Comparative Advantage, and the PPF
1 Oct*As always, this is not intended to be professional advice. This was written with ESL students in mind, designed for a basic #Economics class. We simply hope that it may be helpful to other students trying to understand the concept.
UNDERSTANDING THE PPF
The two lines you see up above are called Product Possibility Frontiers or the PPF.
Situation: Vietnam (越南) and Thailand (泰国) both are given $500 to make Swords (剑) or Bows & Arrows (弓箭). Because their money is limited (有限) (there is an end to the money), both countries need to decide how many they should make. Problem: if they spend money on swords, that means less money for bows and arrows. And if they spend money on bows and arrows, that means less money available for swords. It’s a CHOICE (or in economics — a TRADE-OFF).
They have three choices: 1) Make only Swords. 2) Make only Bows and Arrows. 3) Make some of both.
The green line (Vietnam) shows all the possible combinations (组合) that Vietnam can make if it uses ALL the money ($500). Continue reading
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26 Dec



Education SUPPORTS Training
11 DecOne of the things I wish more college professors focused on was explaining WHY classes are important.
I have found that my students repeat the same idea: they expect their jobs to prepare them for their work. They believe that when they start a job, the company will give them training and experience. They will start on the bottom and, as they are trained, work their way up. They end up going to college to get the paper with no interest in actually learning. They feel like they will just get the same material in career training later.
And to an extent this is true. Most companies are willing to offer and may require training after hiring you. But companies do not want to spend time & $$ training a college graduate in information they were expected to learn in college. If I am going to educate you myself, why would I pay for a more expensive college graduate? If you say that you have a BA in Finance, companies expect you to at least know what stocks, bonds, derivatives, stockholders, etc. are and how they work. I may train you in how my company does it specifically, but I expect you to know the general theory and vocabulary BEFORE training. I pay a college graduate more because I have to train them LESS. College is to give you the foundations so that the company can train you QUICKLY in the specifics and then you hit the ground running.