2.1 My wife dragged me to a party, where I did not know many people. I was intro
ID: 1223075 • Letter: 2
Question
2.1 My wife dragged me to a party, where I did not know many people. I was introduced to a small group gathered by the refreshments, and somebody asked what I did for a living. I barely got the words out of my mouth, saying I was an economist, when all eyes in the group dropped to the floor. I was used to this kind of reaction. Their eye movements were a familiar statement – sorry, not interested. We exchanged a few more words, and then they shuffled off. The feeling I get at parties is that people do not understand economics, find it boring, and probably think I am some kind of oddball as a result. I can accept the latter, but it is difficult for me to realize that people do not know or find economics exceptionally interesting and useful. If I were a psychologist, we might talk about some of my abnormal patients where I had provided guidance and counseling. If I were a physician, they would ask me for free advice about ailments from which they suffered. But, nobody passionately wants to know what happens to GDP growth when the rate of savings changes. And, please dont describe what this means with unintelligible charts and graphs. Economics has a false reputation. For many people, it seems to be about obscure technical things that might unveil something of significance, but mostly these things are not worth learning compared to more important matters. I dont blame people for believing this description. Economists have done an outstanding job of helping people form their opinions. Economists go on TV and talk as if they were speaking a foreign language. However, at its core, economics is not about technical matters and unintelligible jargon. Economics is actually a way of thinking about things – thinking logically – thinking well. By reading this chapter you will learn the broad guideposts involved in the economic way of thinking – a method that you should find extremely useful. Hopefully, your appreciation of economics will be great enough where you will not want to walk away from an economist at a party.
Can you help me? bring out what is important in this passage and explain it. thanks!
Explanation / Answer
IT IS INDEED TRUE TO SOME EXTENT THAT PEOPLE FIND IT DIFFICULT TO UNDERSTAND AND TAKE INTEREST IN ECONOMICS AS A SUBJECT OR AS A WAY OF THINKING OR A ASOCIAL SCIENCE. THEY THINK THAT ECONOMICS IS ALL FULL OF LAWS AND PRINCIPLES WHICH ARE QUITE DIFFICULT TO UNDERSTAND AND ARE SUPPOSED TO BE OF NOT MUCH USE.
IN THE ABOVE CASE ALSO WE SEE THE SAME DISINTEREST AND UNAWARENESS ABOUT THE ECONOMICS AS IF IT AS AN ALIENWARE WHICH IS NEARLY IMPOSSIBLE TO HANDLE. THIS MAKES PEOPLE AVOIDING ANY DISCUSSION OR TO ASK ANY QUESTIONS. AS SOON AS A QUESTION MIGHT BE PUT UP THEN THE EXPLANATION WILL MAKE THEM NERVOUS AS TO WHAT THE ECONOMIST IS TRYING TO SAY. HE JARGON, VOCABULARY AND THE TERMS USED BY ECONOMISTS AE VERY DIFFICULT FOR A COMMON MAN TO UNDERSTAND. A PRETTY GOOD REASON MAY BE THAT MOST OF US NEVER MEETS AN ECONOMIST IN THEIR LIFE QUITE OFTEN BARRING THE SCHOLARS OR STUDENTS WE STUDY IT ONLY AS A LIMITED OPTIONAL SUBJECT WHICH IS SOON WIPED AWAY FROM THE MEMORY.
THUS IT IS THE MOST DIFFICULT PART FOR AN ECONOMIST TO MAKE ECONOMICS A ESY AND A FUN LOVING SUBJECT. INDEED THE SUBJECT IS INTERESTING IF WE GO BY THE LEVEL OF UNDERSTANDING, MIXING THE SUBJECT WITH STORIES AND INTERESTING LINEUPS CAN MAKE THE ECONOMICS AND ECONOMIST BOTH POPULAR AMONG THE CROWDS.
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