Tuesday, July 1, 2014

Long-Run Economic Growth... What is that again?

After the usual routine of breakfast at 8:30 AM with a workout after that I had to prepare for the long class ahead of me. We're averaging about a chapter a day so there isn't really any time to catch up if you fall behind. It's a dog eat dog world and I plan to be the bigger dog in this situation.

When arriving at  class we were given 15 minutes to think about the topic that our group wanted to do for the final project due on the last day of class. It took us awhile to decide unanimously on a topic as most of us wanted to do different things, but what we agreed on was something that we were all equally interested in. The effect of Sales Tax and Income Taxes on an economy, both state-wide and federal, seemed to peak all of our interests and so that's what we finally landed on.

After that though we hopped straight into our lecture on Long-Run Economic Growth. Now this seems like a very daunting topic just based off of the name but it isn't nearly as bad as it sounds. It is exactly what it sounds like and even though there's a lot of data to comprehend at one time, trends are very easy to find. In fact we watched a few videos on the growth of East Asian countries compared to the world power such as the UK and US. One of these was a Ted talk and actually showed when the average income per person of China and India would be that of the US and UK. There are many factors as to why China and India are growing faster than the US and UK but the simple fact is that they are plain and simple more productive.

Class ended a bit early around 3:25 and we immediately headed to a nearby restaurant to watch the USA vs. Belgium World Cup Match. It was one of the most exhilarating soccer matches I have ever watched, with the USA Keeper, Tim Howard, shattering the World Cup record with 16 saves in one game. Despite all those amazing stops there were two that he just couldn't stop, and we ended up losing 2-1 in extra time. After that we returned to the dorms to mope in peace. It's not like we can complain though as we made it farther than Italy, Spain, & England, three of the powerhouses that were expected to make it past the first round at least.

The rest of the day has been packed with studying and things of the sort so that I can try and do as I said in the first paragraph and stay ahead of the game. I've began to realize though that these blogs are going to be the death of me, as they continuously decrease the amount of sleep I get by 1-2 hours every night. It isn't too bad to start with but it adds up quickly and soon I've got a big deficit on my hands. I'll try and sleep in tomorrow morning but I can't make any promises! Jusqu'a a la prochaine fois!

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