stylusdef Posted December 12, 2007 Report Share Posted December 12, 2007 Hey. Yesterday, I took a quick look at the Economics book that we use in our school. The text seems relatively easy and straightforward, but some of the graphs seem kind of complicated. I've talked to some Economics students and they say that the graphs are relatively easy to remember and understand. So, now I'd like to ask you people in this forum what you think about the graphs in Economics?! Maybe they just seem difficult to me because I don't know the basic concepts behind them?? Link to post Share on other sites More sharing options...
deissi Posted December 13, 2007 Report Share Posted December 13, 2007 So far the Supply and Demand, Total Revenue, Marginal revenue, Long Run Average Cost and Short Run Average Cost curves have been quite easy, helpful. So I'd say they make it easier rather than harder Link to post Share on other sites More sharing options...
snowday Posted December 15, 2007 Report Share Posted December 15, 2007 So far the Supply and Demand, Total Revenue, Marginal revenue, Long Run Average Cost and Short Run Average Cost curves have been quite easy, helpful. So I'd say they make it easier rather than harder Deissi seems to be focusing on microeconomic graphs, I just thought I would extend it to saying that the graphs are helpful through macroeconomics as well, they make it very simple to understand why things such as inflation and unemployment occur. The graphs definitely make things easier rather than harder, because they help to make the connection between various factors that affect something, such as why low interest rates and tax cuts decrease unemployment. Link to post Share on other sites More sharing options...
deissi Posted December 17, 2007 Report Share Posted December 17, 2007 Deissi seems to be focusing on microeconomic graphs, I just thought I would extend it to saying that the graphs are helpful through macroeconomics as well, they make it very simple to understand why things such as inflation and unemployment occur. The graphs definitely make things easier rather than harder, because they help to make the connection between various factors that affect something, such as why low interest rates and tax cuts decrease unemployment. hehe, just pointing out: I'm a M09 candidate and we've only covered microeconomics so I don't know eny macroeconomic graphs Link to post Share on other sites More sharing options...
catchme.kittens Posted December 23, 2007 Report Share Posted December 23, 2007 the coolest (and the WEIRDEST!) graphs i remember from econ sl were the quotas, and tariffs and so on...when i first looked at them, my mind was BLOWN AWAY!! they looked kinda confusing to me...but when our teacher actually explained them to us...i was kinda surprised how simple they were...it only takes a good teacher to easily explain ANY concept in econ...and once u understand them, then u're set...gluck with econ! Link to post Share on other sites More sharing options...
niceperson91 Posted December 25, 2007 Report Share Posted December 25, 2007 Hey.Yesterday, I took a quick look at the Economics book that we use in our school. The text seems relatively easy and straightforward, but some of the graphs seem kind of complicated. I've talked to some Economics students and they say that the graphs are relatively easy to remember and understand. So, now I'd like to ask you people in this forum what you think about the graphs in Economics?! Maybe they just seem difficult to me because I don't know the basic concepts behind them?? dude....relax about the graphs......they r rly easy. Trust me.....all u need to know is to understand the concept behind these graphs (supply, demand, elasticity etc etc..) once u understand sever fundamental graphs.....u will easily get all the other graphs (they r related....so be sure to have good basics). It is also true that some graphs get complicated and look busy but that is because they are tyring to depict a lot of information.....so ur teacher will tell u wat each line, curve, intersection, area rly means......so relax.....and dun wrry about them........learn the concepts and learn how they are related... k ...bye Link to post Share on other sites More sharing options...
mavsy123 Posted January 6, 2008 Report Share Posted January 6, 2008 the coolest (and the WEIRDEST!) graphs i remember from econ sl were the quotas, and tariffs and so on...when i first looked at them, my mind was BLOWN AWAY!! they looked kinda confusing to me...but when our teacher actually explained them to us...i was kinda surprised how simple they were...it only takes a good teacher to easily explain ANY concept in econ...and once u understand them, then u're set...gluck with econ! I thought the Wage Spiral graph was really complicated, but it makes sense, like you said, once a good teacher explains it to you. To the original poster: don't worry about the graphs, even though its the biggest part of Economics. After using information (numbers) to describe the graph, it will all become fairly easy. Link to post Share on other sites More sharing options...
kdk9008 Posted January 6, 2008 Report Share Posted January 6, 2008 If you don't know the concept, the graphs seem really challenging but once you learn it, its really easy because most of the econ things are interrelated.. making it easier to understand other concepts easier once you know the basics same with graphs Link to post Share on other sites More sharing options...
ozZiiiii Posted January 14, 2008 Report Share Posted January 14, 2008 (edited) Everything makes sense in due course. Don't panic. They are easier than they look, you just have to take one step at a time. Same thing with math higher - DON'T skip to the last chapter of your Math HL book! Edited January 14, 2008 by ozZiiiii Link to post Share on other sites More sharing options...
davshere Posted February 16, 2008 Report Share Posted February 16, 2008 How much are Economics I.A's worth? I just found out there are two SL papers so I was wondering what the break down was. Link to post Share on other sites More sharing options...
deissi Posted February 18, 2008 Report Share Posted February 18, 2008 For SL, 25%For HL, 20% Link to post Share on other sites More sharing options...
ph4t_d4n Posted February 20, 2008 Report Share Posted February 20, 2008 i dunno bout u guys but i absolutely hate those damn cost/long run/short run/revenue graphs. they are seriously uncool. im in year 12 and ive had no previous experience with economics. WHY IS IT SO HARD??? I was told it was all common sense... Link to post Share on other sites More sharing options...
PuLsE Posted February 25, 2008 Report Share Posted February 25, 2008 At first I had a really hard visualizing graphs and how it worked when we started in Microeconomics but now it's the graphs that are really helping me through the rest of the concepts. By just understanding the graphs, the rest of the terms and concepts kinda follow up as support. Anyways, econ is pretty easy for me (except for the beginning) because of the graphs and the graphs aren't all that complicated once you have them explained in detail. Plus graphs tend to repeat themselves and build upon the same concepts. Think supply-and-demand and short term aggregate supply/demand. Link to post Share on other sites More sharing options...
sniper626 Posted March 10, 2008 Report Share Posted March 10, 2008 Th economic graphs aren't that hard to understand. My Econ teacher always gives us the basic graph, like the demand and supply curve or the monopoly graph. Then she would continue adding more complicated lines in it like the marginal revenue...etc. The most confusing part I find is the dead weight loss. I still don't really know what that is. Link to post Share on other sites More sharing options...
deissi Posted March 10, 2008 Report Share Posted March 10, 2008 Dead weight loss is when there is an externality on something and the curve shifts due to it. If a tax is imposed to meet the externality (hence equal the amount of the externality), the negative effect of the externality is covered. However, when you calculate the revenue of different stakeholders, there will remain an area (triangle) with revenue which no-one will gain. This is the area for dead weight loss. It's basically revenue no-one can gain due to an externality.Not sure if that helped, but hope so. Link to post Share on other sites More sharing options...
Guest econtijoch Posted March 10, 2008 Report Share Posted March 10, 2008 The best thing about economics, is that it all makes sense... it's a very logical field of study. One thing leads to another (a certain action causes a shift, the shift causes prices/quantities to change, etc.) and every graph is distinct enough that you'll rarely misuse a graph in a situation. Link to post Share on other sites More sharing options...
minuitfleur Posted March 12, 2008 Report Share Posted March 12, 2008 Some were difficult, but once you get the concept, it gets easier Link to post Share on other sites More sharing options...
master135 Posted March 13, 2008 Report Share Posted March 13, 2008 (edited) I think most of them are pretty straightforward...but i m in SL and haven't done theory of the firm which seems to have complicated graphss Edited March 13, 2008 by master135 Link to post Share on other sites More sharing options...
deissi Posted March 14, 2008 Report Share Posted March 14, 2008 I think most of them are pretty straightforward...but i m in SL and haven't done theory of the firm which seems to have complicated graphssThey aren't that complicated either, but they do require more thinking. In my opinion theory of the firm is a lot more difficult than SL microeconomics, but it's still easily doable. Link to post Share on other sites More sharing options...
yodude888 Posted June 19, 2008 Report Share Posted June 19, 2008 I used to hate graphs, but a few weeks ago, everything just clicked for me! Now it's fine, and I get all the graphs fine. I think if you get your head around the basic theory behind it, and are used to seeing the graphs, it will happen naturally.Theory of the firm (HL) is most definitely the most annoying topic for graphs, but thats not saying much. You just need to remember the intersections e.g. MC=MR for max profit etc. and then you're fine. One's you've seen and drawn them once or twice, it shouldn't be an issue. Link to post Share on other sites More sharing options...
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