Originally posted by la luce nella piazza:Hey TS, wanna buy my John Sloman? tells you everything you need …. and more!
I have one too.
Maybe I should sell it too him also.
But I doubt he would buy, since it's only 1 minor module.
I have too many books in my library.
Textbooks are almost obselete these days.
Almost everything is on the internet.
Originally posted by deepak.c:
Master,
Can teach me what is substitution effect, income effect and Giffen good?
Substituition Effect
http://www.britannica.com/EBchecked/topic/571064/substitution-effect
Income Effect
http://en.wikipedia.org/wiki/Income_effect
Giffen Good
http://en.wikipedia.org/wiki/Giffen_good
any more questions?
Mine is even more ancient.
Sloman is good for basics, it's NOT one of my favourites.
me buy master book...
haha...anyway, even if i have the books, i dont think i can understand anything inside...LOL
tell them wat u have been doing for the past hour
Originally posted by charlize:Textbooks are almost obselete these days.
Almost everything is on the internet.
char, it's tiring to read 1 chapter of econs on the internet leh, believe me, you will go blind.
Originally posted by deepak.c:
char, it's tiring to read 1 chapter of econs on the internet leh, believe me, you will go blind.
And crapping in sgforums for hours won't?
Originally posted by charlize:
And crapping in sgforums for hours won't?
That's entirely different, talking to Master doesn't require much grey matter activity.
Originally posted by alvin-ncs:me buy master book...
haha...anyway, even if i have the books, i dont think i can understand anything inside...LOL
TS, though the textbook by Sloman is used in many economics courses. There are better economics textbooks eg Microeconomics by Salvatore.
TS, if you need resources that are simple and easy to understand. You can refer to YJC, JJC or TPJC economics notes and model essays which are easy to read and understand.
What is the price elasticity of demand ?
Price elasticity of demand measures how much people are willing and able to buy more or less when the price of the good changes.
For example, the price elasticity of demand is - 5.
(The negative sign is to show the inverse relationship between price and quantity demanded ie when price increases, people buy less and when price decreases, people buy more).
(When people talk about the price elasticity of demand whether it is price elastic >1 or inelastic < 1, they only look at the absolute value ie ignore the negative sign).
So, if the price elasticity of demand is - 5.
This means that when the price of the good decreases by 1%, people are willing
and able to buy 5% more of the good. This is known as price elastic demand ie a
small change in price will lead to a large change in quantity demanded.
Originally posted by Master -_-:tell them wat u have been doing for the past hour
our secret...
hello! it's been quite some time since i was active here!
just wana ask a question. Any reference book/books/materials to reconmend for a guy interested to take economics in university?
Originally posted by alvin-ncs:me buy master book...
haha...anyway, even if i have the books, i dont think i can understand anything inside...LOL
Originally posted by DrAlienology:hello! it's been quite some time since i was active here!
just wana ask a question. Any reference book/books/materials to reconmend for a guy interested to take economics in university?
If you are going to university to study economics, won't your professor(s) recommend the books you need to refer to?
Wait recommend wrongly and you fail your midterms, then how?
Originally posted by la luce nella piazza:
This is not the attitude of a winner.... LOL... just saying.
This sounds like what someone who is into MLM will say to a non MLM believer.
Really.
Originally posted by Master -_-:Substituition Effect
http://www.britannica.com/EBchecked/topic/571064/substitution-effect
Income Effect
http://en.wikipedia.org/wiki/Income_effect
Giffen Good
http://en.wikipedia.org/wiki/Giffen_good
any more questions?
Guess I was right, you are the Master poseur, don't know anything but try to impress others.
Originally posted by charlize:If you are going to university to study economics, won't your professor(s) recommend the books you need to refer to?
Wait recommend wrongly and you fail your midterms, then how?
no lah, not really sure if i wana study that. just reading for leisure.
Originally posted by DrAlienology:
no lah, not really sure if i wana study that. just reading for leisure.
Reading economic textbooks for leisure?
Philosophy and psychology I can understand.
But economics?
Wtf.
Originally posted by charlize:
Reading economic textbooks for leisure?
Philosophy and psychology I can understand.
But economics?
Wtf.
What's wrong with reading economics for leisure?
I do it too.
Originally posted by deepak.c:
What's wrong with reading economics for leisure?
I do it too.
I say again.
Wtf.
Originally posted by charlize:
I say again.
Wtf.
I am now reading calculus for leisure.
Serious.
Originally posted by deepak.c:
What's wrong with reading economics for leisure?
I do it too.
any books to reconmend?
If you just starting out, Economics by John Sloman is not too bad.