Wednesday, February 11, 2015

Yay!! My first post

        For my genius project I have decided to focus on microeconomics for the next 6 cycles. This is a sub category of economics. Microeconomics focuses on the distribution and production of wealth for individuals. These individuals can be people, companies, or groups of people. It is the opposite of macroeconomics which focuses on big picture ideas and how they affect people as a whole. The reason I want to study this topic is because I have a firm belief that money runs the world and is the reason for a lot of thing, so if you can understand money you can understand the world. I also see economics as a future career path, so this project could give me a sense of what the career is like.
Most of my research for this topic will come from Khan Academy. This is a website which offer videos and tutorials on many topics ranging from math to art. On Khan Academy, under the finance and economics section, there is a microeconomics section where they offer 77 videos on microeconomics. My goal by the end of the project is to have watched all of them.
By the end of this project I am hoping that I will reach certain goals. My first is better managing my personal finances. I feel as though these videos will teach me so much more about money and better ways to spend it. My second goal is to better understand the economy, like why a company did this and how it affects there stock. And lastly, I would like to get out of this a better understanding of the world.

This is what most of my research will look like. Khan Academy posts videos like these where I will watch them and take notes.

3 comments:

  1. Hey joe,
    I think your project is very smart as it will help you in the future along with now. You also will realize if you get bored of this stuff, knowing not to go into economics. I think the aspect of knowing how the world works is very interesting scope. I also think Khan Academy is a great website, but you should also look at other websites too. Is there any way you can test your skills? Does the stock market relate to microeconomics? Consider maybe simulations to get real life practice.

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  2. Hi Joe,
    I think it is great that you are interested in preparing for your future because managing your finances is very important. I am also using Khan Academy and it is a great resource and should be very helpful. A way to show what you are learning is to manage your finances over the course of the project and show how what you are learning can help. This could be helpful to show your knowledge. This could also help by giving real world practice

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  3. Yo Joe,
    One question that I have is if this applies as in managing money for yourself, or investing in certain people. I'm not really knowledgeable about the topic so this sort of confuses me. I do know about Khan Academy, mainly being because of the commercials they have. Seems like a pretty reliable source. Once you learn about the microeconomics, will you use what you learn to invest in the stock market? If so how does the topic apply? This will be something that I'll need to know in the future as well, so I'll make sure to take notes on what you think is important.

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