WEEK 4 Free Post

I listened a song about Economics named "Economics Breakdown" by Da Black Tie Boys, and I saw the Music video of the song.

Here's the web page link of the song "Economics Breakdown"

http://www.youtube.com/watch?v=afBw6FyPf34

WEEK 3: Free Post

Picture Cited:

Abram, Stephen. Where Does Money Go. Visual Economy. Stephen's Lighthouse. Pic. 2009. Web. Sept. 18. 2013

WEEK 3: Exploring Writing Process-Interview

I interviewed a professor whose name is Ke,Feng. He is a professor of Economics at Peking University. The method that I used for my interview is by phone that I ask questions and he answered through the phone call. Below are the questions and the answers from professor Feng.

Miao: What do you like about your job?

Feng: I love the complexity and difficulty of economy because this can encourage me to work hard and contribute a lot to the economic domain and my country.

Miao: What’s your favorite part as your job and why?

Feng: I enjoy the process while analyzing problems of economics and thinking how to put results into the practical application. This part is enjoyable for me and I can contribute to the society due to my job.

Miao:What challenges are typical with your job?

Feng: From my perspective, the biggest challenge for me is to think what knowledge can be used in the practical application to produce lots of positive effects because the knowledge I have is too abstract to bring a lot of benefits immediately and directly. 

Miao: Why do you choose this job?

Feng: When I was young, China is confronted with a lot of problems like Anti-Japanese War, Civil War, etc. Because of these reasons, Chinese economy was extremely bad. At that time, I decided to help my country recover the economy by studying hard and becoming an economist. This is why I am still concentrating on analyzing the economy and improving the economic strength of my country now.

Miao: I know that your are working at Peking University now, have you ever worked in a company before? 

Feng: No. I am working at Peking University all the time for teaching smart student in the business college and focus on analyzing economic theories and their applications.

Week 2 Free Post

      This week, I read a news online about the economy of China from Guangming Daily News. The title of the article is "American Media: The Chinese Economy Will Continue the Stable Growth." As we see that Chines economy is incredibly grow in the recent years. Although China now is a developing country, our economy is prosperous. According to the news, the Chinese government announced the major economic data to display in August that the export, investment, expense, the industry speed-up and manufacturing industry purchase the managers index (PMI) to present the rise,; industry producer producer price (PPI) range of fall squeezes largely, the price increase sets the record three month new low. Some experts pointed out that the most recent data indicated the Chinese economy stands firmly the rise condition. Some companies will focus on the Asian market instead of American and European market. Also, China now leads the Asian economy and the markets in China is very positive. In addition, the number of oversea tourist of  grew 20% in 2012, and the Chinese tourists has surpassed the US and Germany, becomes foreign expends most communities.

Overall, I believe that the economy in China would be more prosperous than today.

Work Cited

"American Media: The Chinese Economy Will Continue the Stable Growth".Guangming News. Sina. 2013.09. Web. 

*Website Page: http://news.sina.com.cn/o/2013-09-19/025028252366.shtml

WEEK 2: Considering Delivery and Style

The scholarly article that I read about Economics field is "Why 

Mathematics in Economics?" by Katzner. The article provides four 

big elements about why mathematics is very important to

economics: 1. to make use of existing human capital; 2. to attain 

scientific respectability; 3. to help assure security with respect to 

claims of truth; 4. because economics was created primarily by 

Western economists to understand Western economic behavior. 



According to Katzner, he thought that "The of mathematics adds 

an aura of the scientific to economics in its enforcement of 

precision in the articulation of concepts and results, in its 

enhancement of clarification in the logical structure of argument, 

and in its creation of sharp delineation of the boundaries of the 

analysis as a whole" (Katzner 564). I agree with his concept of this 

point. mathematics is not only the tool that connect the 

explanation but also can precisely giving a conclusion because it is 

convincing and trusted. 



In my opinion, I think mathematics is more useful and convince 

tool to explain the economics' condition. It's better to using models 

to show the datas and truth than the texts.  We always need the 

figures and numbers to make a model. After that, we need to 

analysis the model. Thus, we need do some calculation to analysis 

the data on the model. Sometimes the numbers can better explain 

and show the truth. 

Work Cited 

Katzner. Donald W.  "Why Mathematics in Economics?" Journal of Post Keynesian Economics 25 (2003): 561-74. Print.

You can read the article "Why Mathematics in Economics" on this website: 
http://www.jstor.org/stable/4538849?

WEEK 1: Free Post

I am trying to use other resources such as internet to answer the questions that I was unable to find the information from the book The Economic Way of Thinking. Therefore, this post is also about the questions. 

3. What Economists do for their job?

   According to the U.S Department of Labor's,  Economists study the ways a society uses scarce resources such as land, labor, raw materials, and machinery to produce goods and services. They analyze the costs and benefits of distributing and consuming these goods and services. Economists conduct research, collect and analyze data, monitor economic trends, and develop forecasts. Their research might focus on topics such as energy costs, inflation, interest rates, farm prices, rents, imports, or employment. Some economists work for the government and they estimate the economic effects of specific changes in legislation or public policy (What Do Economists do).  

4. What work conditions do economists have?
    Economists may writing reports for the government or the firms, they prepare statistic chartings using computers and calculators. They may collect datas and work as a team (What Do Economists do).

5. Why does Economics major is under the College of  Social Science not the College of Business?

    Economics can be a part of Business, but literally, it belongs to Social Science. Economists is not only a study of business, but also a study of the society. 

6. What is the average salary for an economist?

    The median expected salary for a typical economist (Corporate) in the United States is $117,256 (Economist). (Personally, I think this salary is pretty high. )

7. Where are the most popular fields do economist work? 
    Companies, governments, abroad firms. 

8. Who are the most successful economists in the world?

    Based on the Book, The Economic Way of Thinking, there are some popular economists in the world, such as the author of the book Paul Heyne, Peter J. Boettke, and DavidL. Prychitko. 

    Moreover, the author of The Wealth of Nations, Adam Smith, the author of Theory of Game and Economic Behavior, John con Neumann, and Oskar Morgenstern are also the most popular economists in the world.  

10. Is there any test for being an Economist?

    Well, there's no test for being an Economist. Anyone who knows the Economics can become an economist. People who have a good pay always graduate from the college of social science or higher degree education. 

    Work Cited:

1. Economist (Corporate)-U.S. National Averages. Diagram. Base Salary. Salary Wizard. 2013.    Web. 10. Sept. 2013
2. "List of economists." Wilipedia. 2013. Web. 10. Sept. 2013
3. What Do Economists do? Penn State University. n.d. Web. 10. Sept.2013

WEEK 1: 10 Questions About Economics

1. What is Economics? 
    Economics is a course that studies the rational decision. Maybe it has a little affect for our personal decision, but very useful and valuable for making a public decision(Heyne).
2. Is Economics a part of Business?
    Some business man thinking problems in the economic way because sometimes economy can better to explain and solve their problems based on economics calculation. Some economists can predict the value of the market and a country's economy. Thus, some businesses use this advantage to change their company's police if avoid the risk and unnecessary loss. 
3. What Economists do for their job?
4. What work conditions do economists have?
5. Why does Economics major is under the College of  Social Science not the College of Business?
    Economics can be a part of Business, but literally, it belongs to Social Science.
6. What is the average salary for an economist?
7. Where are the most popular fields do economist work?
8. Who are the most successful economists in the world?
    Based on the Book, The Economic Way of Thinking, there are some popular economists in the world, such as the author of the book Paul Heyne, Peter J. Boettke, and DavidL. Prychitko. 
9. Are there a lot of math work in economics?
    According to the book The Economic Way of Thinking, there can be another way to think economics without formulas, calculations, and functions. The author taught us how to think economic way based on some stories and pictures. Maybe there's a way to solve the economic problem using math solution, while there's another way using arts and analysis to get done the problem. 
10. Is there any test for being an Economist?
     

work cited

Heyne, Paul. The Economic Way of Thinking author. Prentice Hall.  12 Edition. 2009. 1-2. Print


I think the book The Economic Way of Thinking is a very helpful tool helping me answer the questions above. I just start reading this book and not finish it yet. As a learner of Economics, I hope I can learn more information and knowledge about my major. Economics is a branch of social science. If I wish to become a real economist in the future, I think I'd better to get to know many different societies. However, I will keep up learning economics. 

About Me

My name is Miaomiao Fan, and it sounds like a cat's mew. I am from Beijing, China, a civilized city. I think I love Mathematics before I came to the Michigan State University, but actually I figured out that calculus is very hard for me! I think I may have trouble with it. Actually I am studying in Economics of bachelor of science. I thought Economics is a extensive and easy major for me when I was a freshman. After I became a sophomore, I have a really hard time with it. This Blog is about Economics and Miaomiao's life. Hope everyone who read my blog can learn something about Economics!

Personally, I love green so much. I have green hair, green pants, green shoes, and green beanbags. I wish I can be a fresh and healthy person as green. Let's Go Green and Go White!!!!!