Bye byes F1...
Wednesday, September 30, 2009
Was an entertaining weekend watching F1 Singapore. Though my love is no where near the rankings and Mr H won.. HAIZ... But it wasn't all that good now that school is back on! I'm still like in my holiday mood swings..
Anyway... My dear Kimi-chan, please at least keep urself ahead of Mr H in the remaining few races... OR I WILL JUMP SHIP FOR BUTTON! I MEAN IT!. He is younger (1 year), almost as good looking, AND BETTER! at least at current season... You WERE so promising and CUTE... Might have a chance of being the 2nd Micheal... But now... HAIZZZZZZ.... And please don't blame it on the car.. Anyways, my prayers.. PLEASE PLEASE PLEASE keep ahead of Mr H.
Ok now.. back to my boring old labor economics. =(
BTW, HOW CAN WE BE EXEMPTED FROM ELEARNING WEEK! SAD! ARGH!
To Miss-You-Know-Who...
Sunday, September 27, 2009
As promised.... =)
Discrimination?
I was reading through my textbook today.. For the up coming mid term test.
And i read...
"
It is important to emphasize that welfare programs do not lower the LFPR of low-wage workers because these workers lack a "work ethic.""
It's like Wooooohhhh.. low wage = lack work ethic?
But i strongly believe that's not what he meant. It's just the slope of the IC that implies low-wage workers more likely to choose the welfare grant than working.
WORDS ARE DANGEROUS!
오빠 사랑해요!!
Saturday, September 12, 2009
Not that I'm a K-drama addict or whatever.. But was just playing around with my Korean - English translator.
오빠 사랑해요 - Is just a way of showing affection for your other half. For ladies only.. But if you drop the first word, then anyone can use it. =)
This just goes to show.. I'm bored. hahaha.. Enjoy my phrase of the day!
To Work or Not to Work? And Who to work?
Thursday, September 10, 2009
Been working on my labor economics tutorial today... It's borinG!! So bored I just had to go out for some fresh air.. Ok.. In the end i didn't.. "Cause i have no FRIENDS..." hahaha.. Got that from someone..
Anyways.. So my tutorial goes...
Jack's hourly wage is $60 and the marginal value of his time in the household is $25 per hour.Jill's hourly wage is $50 and the marginal value of her time in the household is $20 per hour.Who will specialize in the household and who will specialize in the labor market?I all right sense of mind, I will think that Jack should work since, assuming they value household goods and market goods equally.. And they of cos have to jointly make their decisions... Gain for Jack to work 1 extra hour is $35 and Jill $30.. It makes perfect sense for Jack to work isn't it?
But then.. I was looking through my textbook, it says, for every $ of household goods jack gives up, he gains $2.40 in market goods ($60/25) and Jill $2.50 in market goods.. So Jill standing a greater gain should work. It totally sounds ridiculous to me.. So if there's any labor experts out there, enlighten me!
Anyways.. It get even more crazy on the 2nd half...
Jack's hourly wage is $20 and the marginal value of his time in the household is $10 per hour.Jill's hourly wage is $30 and the marginal value of her time in the household is $15 per hour.Who will specialize in the household sector and who will specialize in the labor market?Common sense tells me that Jill should work.. It's like DUH! It is a no-brainer? However, going by the same rule from the textbook.. It should be indifferent as to Jack or Jill to work since they both gain $2 in market goods for every $ of household goods given up...
So, moral of the story. Economics create wonders beyond imagination! Claps Claps
CRazy me...
Have been very busy lately.. Or rather, very sian over school work.. Been kinda slack but yet stressed over the countless of assignments and tests upcoming.. ARG!!!! I think there's something wrong about me!
