2013年11月15日星期五

Synthesis Essay

My blog is about economics, which is related to my future field. Before I doing the blog project, I just have a few knowledge of economy even I am in the economics major. I thought economy is all about the money. However, it is not only the studies of monetary, but also studies the people’s behavior to the market, the government’s policy, bank’s operation mode, allocation of resources, etc. The blog project helps me to better know the economic in many different aspects, such as interview, Internet, books, articles, debate, and news.

Even though the process is suffering, the result is valuable. I learned many things from this project based on the knowledge of economic. Firstly I learned some knowledge of economic. I started the research with some questions. Such like what kind of jobs related to economic; what is the work condition for an economist; why the major economics belongs to social science but not business. In the very beginning, the answers I found are very cryptic because I was lack of knowledge of the economics at that time. My knowledge was built little by little every week. Personally, I think blogging is a good way to develop myself from reading, analyzing, and writing something about economics. Not only from reading some academic article by economist, but also watching video about what is economy, analyzing diagram of circulation of money in the market, or interviewing the economist.

I post the blogs in many different forms, not only the texts, but also some images, diagrams, a song, and a video. I thought using different forms of blog could make me feel interesting and maybe can attract the audience who read my blog. For an example, I post a picture of cartoon shows the relationship between the banker, the citizen, and the government. I talked about the information that reflected from the picture the banks are like the finical intermediations that borrow money from citizen and lend money to firms. Based on the cartoon, I also did research to find a history fact, which is the Great Depression in 1992 that can relate to the cartoon. I combined these two ideas together to give myself a better and deep thought. 

Besides the knowledge I learned in the economic field, I also learned some strategies of writing and reading literacy. Reading the article written by the economic professor can help me to improve using the academic language in the economic field. I can learn some academic vocabularies from their articles. However, I should continue to develop the mystery of the economic world after finish this project.


2013年11月7日星期四

WEEK 10 Remixing Knowledge

添加图片说明

The remix of the economics field that I find is a brochure on the right talked about the Tea Party Cult. 

Audience: This little Brochure would show in the economic field. The audience might be the college student who take economic courses, people who knows the Tea Party and have concepts of it. Also, the audience can be the people who is able to read the academic charts and the figures. 

Purpose: This is kind a academic report that the author analyzes the Tea Party Cult. He gives five main reasons to show the ideology of the Tea Party Cult is wrong. 1) The wealthy are not "Job Creator". According to Joe, he thought the capital does not create labor-labor creates capital. 2) Lower Taxes for the Wealthy do not spur investment or create jobs. 3) Government is not getting bigger. 4) Reagan;s supply-side economics did not work. 5) New deal liberalism does work. Personally, I agree with his reasons of problems with the Tea Party Cult. It is so clear that he listed the five elements one by one using subtitles. 

Overall success of rhetorics: I like the style of this brochure based on the academic diagrams and charts which can perfectly show it is an economic work overall. Also, using charts can better support and explain ideas. This is an well-organized project. The over page direct tell the key idea of this project and some importance information. It is so clear that Joe listed the five elements one by one using subtitles in red. This helps the audience to easy to find the information they want to know. Also, the background design is very suitable for the topic of this project that is simple and serious. 


Work Cited: 
Lyles, Joe. "Five Key Reasons the Tea Party Cult is Wrong". Megadittoes. 2013. Web. Oct. 07. 2013

2013年11月6日星期三

WEEK 10 Free Post

We read an article named "Learning the Language" by Perri Klass this week. She talked about her personal experience about learning the medical language in a hospital. After I read the article I start to think the language that I will be use in my academic filed, Economics. Since now, I have no idea about what languages do the economists use during their working period. Also, I have no experience about working in a economic environment. Thus, I think to study some vocabularies would help me to better learn the "Economic Language". The vocabulary list below is the new words that I learned this week.
  1. Autarky: a system or policy of economic self-sufficiency aimed at removing the need for imports. (No trade, no capital flows)
  2. Risk premium: the minimum amount of money by which the expected return on a risky asset must exceed the known return on a risk-free asset, or the expected return on a less risky asset, in order to induce an individual to hold the risky asset rather than the risk-free asset (wikipedia). 
  3. deficit: the property of being an amount by which something is less than expected or requited. (same meaning of shortage)
  4. exchange rate: the charge for exchanging currency of one country for currency of another. (ex: the exchange rate in Nov.07. 2013$1 USD=6.1355 CNY (Currency Calculator). )
  5. speculators: someone who risks losses for the possibility of considerable gains. 
  6. recession: the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year. 
  7. inflation rate: the rate of change of prices calculated on a monthly ore annual basis. 
The vocabularies above are selected from my EC202 course note. These words are new to me and I used translator to get the meaning of them. These words are all economic words that related to the currency markets (our class topic this week). The word "autarky" is totally new for me that I first time to meet it. I think if I don't take economic class, I won't know this term forever. I wish I can learn more economic vocabularies because learning the language is the most basic thing when I enter to my economy world. 



Work Cited:

"Currency Calculator". X-Rates. 2013. Web. Nov. 06. 2013


2013年11月5日星期二

WEEK 9 Free Post

I am very confuse between Economics and Finance. Since I haven't take any Finance class, personally, I think it's a study of stocks. This week, I did some research of the differences between these two studies.

Economics vs. Finance
“A course of study majoring in finance focuses on financial management, insurance, investments, banking and related topics” (Shane). Finance is a major that under the Business college. Student who studies finance also need to take some economics classes. They can pursue careers in banking, stock market, bond trade, insurance  company, etc. 

Compare with Finance, Economics is a broad study which includes topics related to finance. According to Shane, 
economics strives to understand a dimension of human and societal behavior: in this case, how individuals and societies deploy their resources. The economists will predict or analyzes the supply of resources to balance people's desire and the available resources.  


Since there are many financial management issues, the business degree in finance may appear more marketable than a degree in economics. People who studies finance will have more chance to choose their jobs than the economic student. However, according to the report of economic association, economics majors actually earn higher starting salaries than students with business degrees, including those who majored in finance. It reports that the average starting salary in 2007 for an economics major was $48,483 a year, compared to $47,239 for a graduate with a finance degree (Shane). 

I thought Economic major is under the Business college before. However, it's part of social science. The student in Economic major would study sociology, political science and psychology. After I doing the research about the differences between the Finance and the Economics, I have a new view of these two studies. Also, I am glad that I choose the Economic major when I saw the information above based on the salary of an economist. Ha~

Work Cited:
Shane Hall, eHow Contributor. "Economics Vs. Finance". Business     and Society. eHow money. 2013. Web. Nov.05.2013. 

http://www.ehow.com/about_7551786_economics-vs-finance.html

WEEK 9 Recognizing Significance

Gas under $3 - coming to a station near you


The news story I find is about the decline of gas price.  According to the AAA, the average price of a gallon of regular gas is about $3.19 (Isidore). The six states, Missouri, Oklahoma, Arkansas, Texas, Kansas and Louisiana, has taken the average price below $3 like the price on the picture above show $2.97. Also, 20% of gas stations are already charging less than $3 a gallon for regular gas. 

According to the decline of gas price, the economists can predict the market of car and automobile insurance. As the price of gas price decrease, people would buy more cars and also the more automobile insurance. The study of economics is such important to the markets not only for the gas market, but the other correlative markets. The change of supply-demand relationship influences the fluctuating range of gas price. And the volatility of price will also influence the economic market. Like I talked the relationship between supply and demand in the previous blog. As the price of oil decrease, people will encourage buy cars. It is as well influence peripheral industries of auto. Like domino effect, economic market will be influenced by individual  industry. 

Work Cited:
Isidore, Chris. "Gas Under $3- coming to a station near you". CNN Money. 2013. Web. Nov. 11. 2013





2013年10月31日星期四

WEEK 8 Practicing Your Knowledge

I played the stock market online this week. I think analyze the stock market is a part of hands-one learning of economic field. It is my first time trying to play the stocks even its only practice without using the real money. The similarity with the real stock market is that I can buy and sell stocks. 

The software I used called "Da Zhihui" (a chinese stock software). When I first time open this software I have no idea what to do looking at those red and green figures on the charts. Each stock has its own number or code. If I want to find a specific stock for an example Longji Stock, I should first check its code or I can just type its stock name to find the details or market. The code of Longji Stock is 601012. The price per share of Longji today begins with 16.80, the average since now is 17.40, and the price now is 17.28. The price is unstable since people sell and buy the stock.  

The game starts with the capital of 1000000.00. At first I don't know what stock I should buy. Then I read  the news of those companies. I think if there is a big event of a company, its stock price might has a big jump. Longji Stock is one of the news board. It says the performance of Longji Stock keep increasing in the third season report. According to the news, I think Longji might be a authentic company that I can buy its stock. Then I search Longji on the internet to get some basic idea about its company. After I analyze its market, I decide to buy its stock. At first time, I bought 500 shares of Longji stock at the price of 17.38. After buying the stock, my eyes keeps at looking the chart analyze its rise and fall. When I saw its price rise to 17.45, I decide to sell my share to gain the profit. It is interesting that after I sold my shares in two hours, the price raised to 17.49. When I saw this situation, I am regret of selling shares too early. If I wait more hours, I might earn much mine. Human alway can't satisfied at anything. 

I played several times of the stock market game. Every time I play I would buy some shares of Longji stock, but not every time I am the lucky one. I also bought the NDX share, DJIA share, and some stocks that I never heard before. I earned little in the end. I think its a valuable and experiential game which I can learn many things and have lots of fun. 

WEEK 8 Free Post

This week, I am going to show a very basic Economic models to explain how does the economist analysis the market.

Demand and Supply: In the market, the suppliers are the households, and firms, which produce goods and provide goods to the market; the demanders are the customers who buy the goods. The x-axis is the quantity, and the y-axis is the price. As we analyze, as the quantity of supply increase, the price also increase. We can conclude that there are more people want to but the product, thus the price would go up as the quantity increase. On the other hand, as  the quantity of demand increase, the price decrease. We can see that when there are more people want to buy the product, the price would drop to let the customer to buy more good. The equilibrium shows that when the supply equal to demand. The equilibrium point can show how many product should produce at what price.


According to the wikipedia, "the supply and demand is an economic model of price determination in a market.

The model can only give us a general overall of the market. In the reality world, the market won't go the exactly same as show in the diagram above. Some firms always produce more goods than the quantity show at the equilibrium points.

Work Cited:
Heakal, Reem. "Economics Basics: Supply and Demand". Investopedia. 2013. Web. Oct. 31.2013