Taking Economics 220 Course - Essay Example

Much like basic microeconomics, the course is a continuation of principles that individuals and small groups make decisions to allocate resources. Some specific topics that we covered were efficiency of markets, disposable income, the balance of payments, market inefficiencies, substitute goods, and the multiplier effect to name a few.

What I personally got out of the class was a firmer understanding of supply and demand curves and the effect that some variables have on affecting the supply and quantity demanded. On a personal level, I find it very interesting to physically graph how an increase in demand would move up the supply curve and ultimately increase prices. Since I gained a better understanding of this topic I am starting to look at real-world situations with a whole new perspective.

In this course, you are expected to complete a fully integrated final project and in this regard, you are going to have to complete work in a more or less unstructured environment. Furthermore, it is always good to gain insight from your peers as collaborating can be an effective method to gain new perspectives on approaching problems. It may seem a little intimidating however it is important to keep in mind that the professors are there to help you. In terms of what could have been done differently, I would have liked to have seen more opportunities to work with real-world situations instead of examining some historical situations however it is the case that when one examines a historical situation the outcome is clearly defined and it does make for a better understanding of outcomes

In order to be successful at this course, you are probably going to have to work well in a self-motivated capacity. In this regard, you are going to have to work hard to motivate yourself to study a great deal outside of the classroom. Furthermore, if topics are not entirely clear there is no shame in asking your fellow students and professor for additional clarification. Lastly, you should try to find some real-world examples that you could compare your classroom learning to, as this helps entrench some new concepts.