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I hate Microeconomics

C

Chelsey

Senior member
Ok, so for my major I have to take 2 economics classes. In my eyes the material is boring and as determined as I am to trudge through these classes I cannot seem to grasp the concepts well enough to be able to draw supply/demand graphs and the like. Is there a trick to understanding this? Has anyone been able to locate a website or anything that has helped them? I could really use the help! Thanks!


Chelsey
 
Memorizing does help...but just try to understand the "big picture" of things. What helps me is to try to understand how it affects me....all the things you learn in microeconomics affects you in some way. The graphs are easier to understand if you understand the concepts.

If you're having trouble with a particular concept, ask! 🙂

The problem might be:
In my eyes the material is boring and as determined as I am to trudge through these classes
Click to expand...
 
Try to get a higher level microeconomics book to read?
If it's an introduction micro book, usually the book tends to stay away from calculus intepretation. Without calculus will make microeconomics sound very tedious and seems like doing a lot of hand weaving magic.
 
I love Econ... it was my minor (had to take 6 classes in it.)

Econ does deal a lot with the big picture, like someone said. It took me a while to finally understand everything and for it to 'click' Intro to econ courses arent all that hard though... find someone in your class that you can meet up and study with.
 
intro micro course isn't hard....

not too much graphs....but more concepts like factors of productions, what shifts suppy/demand curve, etc...
 
oh..hah, this is microeco? duh, wait till you get to macroeco...

calculus can help to derive the curves, if you are good at math. I am little concern that you are having problems with demand and supply graph. it is the basic.
 
I'm concerned too...I'm a slow learner when it comes to this kind of stuff. I'm pretty good with chem and especially good with science, but when it comes to math or econ of any kind I'm screwed. I do understand the supply and demand stuff, it's the ATC curves and such...
 
Econ was my major, and if you are having trouble with an intro to Microeconomics stay away from more advanced courses.

Oh and you really don't need to use calculus to understand the concept of a supply / demand curve. It is a very simple relationship. As the price of a good increases, the demand for the good decreases, usually at an exponential rate. ie if the price doubles, the demand falls by more than half.
 
It's required for me to take two of the econ courses...micro and macro. Believe me, if I had the choice I WOULD NOT be taking either.
 
Originally posted by: D1gger
Econ was my major, and if you are having trouble with an intro to Microeconomics stay away from more advanced courses.

Oh and you really don't need to use calculus to understand the concept of a supply / demand curve. It is a very simple relationship. As the price of a good increases, the demand for the good decreases, usually at an exponential rate. ie if the price doubles, the demand falls by more than half.
Click to expand...

But that's just the really really basic of microeconomics. How are you going to explain elasticity in a meaningful way without using calculus? Also, the supply and demand graphs are too vague if you don't apply concepts of area under the curve, rate of change, local max/min.
 
Originally posted by: UncleWai
Originally posted by: D1gger
Econ was my major, and if you are having trouble with an intro to Microeconomics stay away from more advanced courses.

Oh and you really don't need to use calculus to understand the concept of a supply / demand curve. It is a very simple relationship. As the price of a good increases, the demand for the good decreases, usually at an exponential rate. ie if the price doubles, the demand falls by more than half.
Click to expand...

But that's just the really really basic of microeconomics. How are you going to explain elasticity in a meaningful way without using calculus? Also, the supply and demand graphs are too vague if you don't apply concepts of area under the curve, rate of change, local max/min.
Click to expand...

there are two ways to teach economics - graph based and calc based. it used to be calc based a decade or two ago. but now, you can't expect to teach the undergrad in calc when they suck at calc.

I have to agree, using calc to explain those ATC, AC, MC, etc. are so much easier. the graph is pretty much meaningless
 
It is easy, just think: 1) what is it in for me 2) how can I screw others to pocket my profit 3) where is the beef 4) how to be cheap.

The rest is just math and reading.
 
What the hell... science involves A LOT of math in case you haven't figured out yet. I don't get how you can into this microecon course w/o taking a prereq in statics if it requires cal.
 
marginal cost is the cost of an addicitional unit.
it is below the average variable cost curve until the avc's lowest point, at which point the continuing increase in marginal cost starts sending the average variable cost back up.
average total cost is the variable cost plus a number that equals the sunk costs divided by the quantity. it's lowest point is also where it crosses the marginal cost curve.
 
Originally posted by: Baked
What the hell... science involves A LOT of math in case you haven't figured out yet. I don't get how you can into this microecon course w/o taking a prereq in statics if it requires cal.
Click to expand...

i don't think chelsey has ever said it required calculus. i don't think many introductory microeconomics classes don't, except honors ones. the intermediate is the calculus based one.
 
Originally posted by: UncleWai
Originally posted by: D1gger
Econ was my major, and if you are having trouble with an intro to Microeconomics stay away from more advanced courses.

Oh and you really don't need to use calculus to understand the concept of a supply / demand curve. It is a very simple relationship. As the price of a good increases, the demand for the good decreases, usually at an exponential rate. ie if the price doubles, the demand falls by more than half.
Click to expand...

But that's just the really really basic of microeconomics. How are you going to explain elasticity in a meaningful way without using calculus? Also, the supply and demand graphs are too vague if you don't apply concepts of area under the curve, rate of change, local max/min.
Click to expand...

I had no trouble understanding the concept of price elasticity without having to utilitze mathematics to prove the case. It was simply enough to say that some goods are more desirable (they consumer gains more utility), therefore supplier is able to charge a higher price without losing to much demand.
 
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