Essay on Economics in My Life - 1331 Words

Economics in My Life When I was first given this assignment I was extremely perplexed at how I would even begin to finish it. I had no idea how economics related to my life in anyway. I hadn’t thought about it critically and I struggling terribly. Thanks to some much needed help from a fellow classmate, he allowed me to get an idea of things from his own essay. After reading not one, but two other essays, I was so surprised at how oblivious I had been. I never realized that just about everything that goes on in my daily life is, in fact, economics. I never realized that from the things I buy to the money I earn from working is all economics. The things I miss out of while working or going to school is a complete opportunity cost. Or even†¦show more content†¦Certain books that were unbelievably hard to find were in the higher price range because they were, in a way, rare. As appose to a book that was so common could easily be found at a cheap price. They say that there is always something lost at the cost of another. Opportunity cost is something that I always consider before most decisions. For example, I work weekends as a server, including Fridays. That Friday shift is one of the best days to work to make good money, but almost every winter and summer class is Monday through Friday. It’s also a full eight hour shift so it makes it extremely difficult to find even later classes. In my whole two years at ECC I’ve only been in one sit-in winter class. Other than that I’m left with online classes. The opportunity cost for the much need money I make on Friday sets me back enormously in school, because not every class is available online. Work stands in the way of a lot things in my life. Because I go to school Monday through Thursday I really only have Friday through Sunday to work. It’s hard for me to go on vacations or even hang out with friends at the beach during summer because I get off later in th e afternoon. Staying out late with friends is also an opportunity cost because I work early mornings. So you can see that I give up a lot for work but I know that if I work hard now it won’t be so hard later in life. That’s when I’ll stay out late and go on vacations. This was first year that I actually had to fill taxes and IShow MoreRelatedEconomics and My Daily Life1180 Words   |  5 Pagesbottom-up estimates against pre-defined top-down cost targets. The CEF introduces tools and methods for Airbus’ existing estimation specialists without changing their processes. Integrating Parametric and Bottom-Up Estimating Tools Across a project’s life cycle, the CEF in effect synthesizes three costing methods: analytic, similarity and parametric. 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