I am a business student and sadly I have to learn a lot of economics models.
What's the purpose of it? Analyzing "models" (usually 99% of it is all about demand-and-supply) and "prognosticate" the economy (usually wrongly) and "advise" politicians (yeah right, like if the economy goes up, when some dude gives me good advices instead of finding a money source)...
I liked Econ micro and macro a lot. Beyond that like international trade is pretty fucking gay, but you learn why everything is fucked up. Because economist fail to factor humans correctly in respect to labor output and such (probably because its impossible). They basically just assume labor (people) = x and therefore more x = more output. This fails to consider culture, skills, etc.
Goddamn faggots.
IMO micro economics is useful but macro economics is nonsense because you'll get a different answer from every economist on every issue
It's literally guessing
Speaking of which, all Keynesians must hang.
Does anyone seriously think that Economy works by applying autistic models?
It's so silly.
Economics isn't BS, equilibrium theory is, though.
Keynesianism died out in mainstream popularity 40 years ago. I don't know what you're on about.
The problem with economics is it has wonderful theories, but they are full of bullshit. Stuff like """effective""" market hypothesis is thought up and then when it doesn't go their way they find a way to explain it away. Overall it's not much different than astrology.
Also most of them are absolute shit at math.
efficient*
That's not the reasoning at all...
It has more to do with division of labor.
>business student
Econ-lite for frat bros.
>sadly I have to learn
Makes sense so far, go on.
>What's the purpose of it?
Same purpose as any science: to understand, predict, and eventually control events related to it's core study. Unfortunately this is not easily done and it's still developing as a discipline.
>Also most of them are absolute shit at math.
Depends on the school. If you're getting a Bachelor of Arts in Econ all you're required to take is college algebra. A Bachelor of Science in Econ requires at least Analytical Calculus w/Geometry 1 and 2.
Economics isn't a science. Econometrics or finacial math, maybe, but Friedman and Keynes and Krugman and so forth are ideologists, not scientists.
t. people who don't know shit and should stfu
>Keynesianism Died out
>Last decade replete with 0% or negative interest rates, and stimulus packages
haha
>Economics isn't a science.
Right
>Econometrics or financial math, maybe
Wrong
The mathematization of economy and the dominance of econometrics over political economy is the problem since the end of WW2 and especially since the 70's.
Economy could have been a social science alongside sociology, history, anthropology and social psychology but they refused any epistemology work and ended in the mathematical modeling-only paradigm. Things are getting a bit better now since some of them try to include the social and political aspect of economics into the discipline. (mostly doing history and ethnographic work to refine their models)
Still mostly a meme
Econ > Business by a mile, friendo
Take a lot of math and stat and you are good.
Plus any job for business major can be taken by an econ major. The opposite is not true
its the same with micro. Only with micro at least 1` of the answers is correct...usually
But social sciences are memes too.
The only way to unJUST itself is for economics to embrace more statistical modeling rather than shun it in favor of psuedosciences like applied psychology and political """"""" science""""""""".
the fuck are you talking about? Have you actually taken macro?
agreed. Accounting + econ double major is the best combo
>Social sciences are memes too
How is high school going, Kevin?
As someone taking an econ class, I agree.