- You continually include "optimize", "budget (set)" and "limit tends to" in your vocab without even realizing it
- You trying figuring out if you have smooth, convex preferences
- You wonder if and how much to save, keeping in mind "The Paradox of Thrift"
- You make Economics jokes (you reach heights when you can incorporate "neighbourhoods" and "open balls" in the jokes- if you don't understand this, don't bother, you are safe!)
- People around you understand your jokes or give a puzzled frown
- You assume and predict
- You claim to understand most phenomena in the world with an "epsilon" error term
- Epsilon is sufficiently small to suit your model but big enough to create a major disturbance
- Data doesn't suit your fancy models
- "In the Long Run we are all dead!" is knowledge to you!
- demand, supply and extraction of consumer surplus is a way of making ppl understand the essence of bargaining.
- Monopoly power is a term so common while discussing prices.
- Time constraint n budget constraint are terms which seem easier to use than time limit n just budget!
- You have found the above extremely "normal"
Wednesday, March 24, 2010
You Know You are an Economist When...
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