Jokeconomics

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Relaxing through my subject.... comments at ibtueco@hotmail.com

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Jokeconomics

  1. 1. With Malice to None A lighter view of Economics & Economists Indraneel Bhowmik Tripura University
  2. 2. Economics ………………dismal science Man Goods & Services Economics Choice Money… is that science which studies human behaviour as a relationshipbetween ends and scarce means, that has alternative uses………..
  3. 3. Features• …………………. is the painful elaboration of the obvious.• Makes a lot of assumptions………………… without it, would be accounting• Supply of ‘talk’ greater than demand• Has a lot of external shocks• Decisions about decentralisation often taken centrally…………• A study usually reveals that the best time to buy anything is last year• Business Cycles are often real……… but you cannot touch• Trapped by Liquid• ………… the only subject where two people can get a Nobel Prize for saying exactly the opposite thing• [Econometrics is...] the art of drawing a crooked line from an unproved assumption to a foregone conclusion.• ………………………An Employment Opportunity for the Economists
  4. 4. The Economist• Works with the invisible hand…….• Explains tomorrow ,why his forecast about today made yesterday, went wrong….• Real life is a special case• Says a lot in the short run, which amounts to nothing in the long run• A mixed evidence means that theory says one thing and data says the opposite• Commonality with computers- need for punching information• Can give estimates if asked for phone-numbers………..
  5. 5. The First Law of Economists: For every economist, there exists an equal and opposite economistThe Second Law of Economists: Theyre both wrong.Economists are better solvers-E.g- A mathematician, an accountant and an economist were askedthe same question "What do two plus two equal?" by the Boss• The mathematician confidently replied “ Exactly Four.“• The accountant said "On average, four - give or take ten percent, buton average, four.“• The economist coyly asked "What do you want it to equal"?
  6. 6. 350030002500200015001000500 0 Artists Philosopher Scientist Manager Economist High not due to market demand but due to the greater number required to get the requisite weight
  7. 7. No offences Meant ECONOMICS COMIC NOSE
  8. 8. Comments-ibtueco@hotmail.com

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