I Demand a Higher Supply of Economics

There are not many people that can say that economics is one of their favorite classes of the day. Of course, I may just be an outlier in that regard, considering my life goals (Janet Yellen is my life goal). But, in our eKERNomics class, we have been taught so many lovely things besides finding ways to make puns out of absolutely everything.

By the way, I could easily tell you the most important thing we've learned from economics right now, but I'll let you wait to see the big reveal in the end. It's a slow process, but it starts just about under the cut. Have fun! (Also I apologize for the big reveal is only effective if read on computer screens, so my dear mobile readers will have to forever be suspended in the limbo of ignorance)

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Just because we don't understand everything about economics right now, doesn't mean we can't
answer the problem, because more than likely it has to do with scarcity. I'm not kidding, there's

no economic related concept that can't be answered with scarcity. Can't get a job? Scarcity. Not

enough money? How does scarcity sound to you? That diamond ring you wanted to buy costing 

thousands of unnecessary dollars? SCARCITY. I think you get the point

You know, we spent plenty of times in our class subtly poking fun at what our teacher Mr. Kern

erroneously says or types out because he's a lovable marshmallow and it makes our curriculum

literally so memorable. How about, in a supply and demand curve, we can measure how strong or 

lenient demand or supply can be by measuring its elasticity. Resources that are luxuries tend to be

elastic while necessary goods are inelastic. And there's a way to solve this elasticity coefficient

number, which is Quantity over Price, not Price over Quantity. It's ok, we still love you Kern.

Consider this. Our econ class teaches us to be more informed citizens in the future so we can be

overly bothered by the cheap gas prices, since they can cause lots more trouble for the entire

nation. For example, low gas prices may be forcing towns that process gas to suffer unemployment

thanks to the much too cheap business not supplying enough income for the employees. The

real trouble with this is that the entire world is suffering from this really troublesome
oversupply of gas. What? Too much gas? What's the problem?? Well, there aren't many countries

living with lack of gas, since the world powers have too much to deal with. In essence, this causes

so many problems than we can, as consumers who just like full, cheap tanks, to realize. 

Even though we talk about what we've learned in this class, that kind of would be a lot and is not a 

very efficient use of time. What matters is that you know what's stuck to us, and that idea is

easily very subjective. Just like a person's utils, or satisfaction from consuming some good, differs

relative to say how much a person values a donut (for some of us they value them with their life), 

you can't pin point what are the definite answers each person will have. For me, I really love all of 

the lessons and how it applies to the grander scheme of our nation. Besides finally understanding 

how what fiscal and monetary policy is and how it helps our nation, there was nothing that

I found more interesting than what really happened in the 2008 Great Recession and the ever-so

notorious stock market crash. Just finding out about how mistakes along the way like people being

greedy with mortgages and bubbles crashing to cause the downfall is so interesting to me.

However, that's not the most important thing I learned in this economics class. Did you catch the answer earlier? What? C'mon I even typed it all out nice and clear for you. Oh. Was that not very  clear? Okay, well, if you just read the first letter of each line in the above paragraphs of wonderful economics fluff, you'll see what really matters in this economic world, and it should really make sense. 

There's no point asking me what I want to learn in the coming weeks of even more economics knowledge, because the answer is pretty obvious. Everything, the answer is everything. Hope you've all learned a wonderful lesson today: It's that my blogposts have too many words and that I just like economics a lot and someone should really take away my laptop from me.