oikonomia

management of the household (community, society, humanity & biosphere) so as to increase its value to all members over the long run
oikos: household; and nomos: rules

Economics, social science concerned with the production, distribution, exchange, and consumption
of goods and services. Economists focus on the way in which individuals, groups, business enterprises,
and governments seek to achieve efficiently any economic objective they select. Other fields of study
also contribute to this knowledge: Psychology and ethics try to explain how objectives are formed;
history records changes in human objectives; sociology interprets human behavior in social contexts.
-Encarta

T12
Eeyore ponders a new career.
"Actually," Eeyore continued, "I'm thinking about a new career myself - personal growth and whatnot, and et ceteras, you know. I'm considering becoming an economist. Actually I didn't think of that myself. Owl suggested that I might be suited for it. He said someone called Thomas Carlyle said economics was the Dismal Science. That sounds most interesting."
-Winnie-the-Pooh On Success by Roger E. Allen & Stephen D. Allen

Monday, February 13

Valentine's Day

Since our group's article has been barred to pple w/o a subscription to The Economist, here's a replacement article:

The Economics of the Rose Market
http://www.mises.org/story/1164

Just in time for Valentine's Day!

Sneak preview to inspire you to click that link:

Why are rose prices so high on Valentine's Day? Ask the lovers - the consumers - and they'll say it's the florists. Ask the florists, and they'll say it's the wholesalers. Ask the wholesalers, and they'll say it's the growers. Ask the growers, and they'll say it's the costs.

The real reason? It's the consumers.


now click & find out why, and comment. (or as Alycia would say in accordance with the tag-board: anmerkung!)

- Group 3: Tocks, Dorothy, Yan Sheng, Jean

posted by t12cjc | 6:45 pm | 3 comments

[TASK 2] UK Economy "to make slight recovery"

The Guardian

http://www.guardian.co.uk/uklatest/story/0,,-5564088,00.html

- Suggest some reasons for the fall in consumer spending.
- Using economic analysis, explain how a "fall in consumer spending" and "high oil prices" will affect the UK economy.
- Explain the impacts of a fall in interest rates on the national income of the UK economy.
- Suggest some other ways to promote greater growth in the economy.

Deadline: Week 6/7

posted by t12cjc | 6:38 pm | 5 comments