The snow effect

Ive been stressing for nothing lastnite. all the "oh i cant sleep" act. All for nothing BECAUSE the exam is now cancelled.

And no, the title is not an economic term whatsoever. haha the exam is cancelled due to the snow. Heavy snow + No transport + Uni closed = No exam.

Mixed emotions from my friends. Some celebrated joyfully at the sound of the news, some cursing! Well as for me, i have mixed feelings. But mostly, i am cursing. All the late night studying, the crazy consumption of coffee, the pimply face..all those i will have to go through it again next semester when they decide to replace the test.

So, I've concocted a new term. The snow effect. Its when you thought something amazing is going on (making snowman n all) only to realize that the adverse effects is for a longer term (like being couped up in ur room with no means of going anywhere).

Opportunity Cost

Ok so yesterday i end up sleeping at 6am. Although i was in bed around 4.30am. I think im suffering from insomnia.

So anyway, imma talk about opportunity cost today. For newbies (im a newbie too but maybe a lil advance hehe) or non economic students, you might say "wth is this opportunity cost? Sounds boring and uninteresting" Little that you know, opportunity cost occur in your everyday life.

Ok imagine this, its after the festive season and you've gained a few kilos so you decided to go on a diet. But you then have this craving for chocolate cake. So you go to the bakery, and there's 2 types of chocolate cakes on offer. One is the rich, moist, exquisite and 100% fattening chocolate fudge cake. The other is a chocolate cake as well, but this is low in fat, with oats in it (yuck?).

So you weigh the options, if you get the first chocolate cake, you will fulfill your cravings for chocolate cake and with every bite, you will feel the orgasmic explosion at the expense of gaining another 100 kilos (exageration intended :p). If you get the second chocolate cake, you will likely keep ur weight under control at the expense of eating a less than delicious cake and not fulfilling your cravings. Decisions decisions...

After a loooooong deliberation, you think "owh screw the diet, im getting my self the all fat chocolate fudge cake" Here, you are applying opportunity cost. The opportunity cost of buying the fat cake is being able to keep your weight under control. So by buying the fat cake, you are foregoing your diet.

So THAT my friends, is opportunity cost. Basically it relates to decision. If you decide on A, then the opportunity cost is the benefit that you will get from B. Pretty simple huh?

Hope this helps, until we meet again..toodles~ :)

CANT SLEEP!

Ok so i cant sleep. The reason being, I HAVE AN EXAM ON MONDAY! Not just any exams, but economics exam.

Damn it. Ok so im not a pro in economics. Hey ive been studying it for a mere 3 months. Actually i have a law background. But law...errr not for me. No offence to my lawyer friends, i still love u guys. hehe. Im currently doing my MSc in International Business Economics and as a master student, i have to learn micro and macro in one short semester. Great huh??

But yeah i would like to be an economist someday. Maybe another Dr Doom. If you dont know who Dr. Doom is, well have a look here. But first i really need a deep understanding of the subject. And thats the point of this blog anyway. So any help from anyone would be highly appreciated. haha sounds like an official letter.

I guess i better sleep now, or study? owh well, sleep sounds better even if i cant. Nite! :)