Wine competition

From Wikipedia,

"The most common form of wine competition is one in which awards are given to groups of wines in various winning categories on the basis of the blind tasting of wine. That is, the judges do not know the identity of the wines they are evaluating. The awards are frequently bronze, silver, gold, and double gold medals. However, ribbons of various colors are also sometimes used. It is not uncommon for one-third or more of the wines competing to be awarded medals. Some critical observers compare the results to "grade inflation." For example, in 2005 the International Wine Challenge received over 9,000 entries and handed out 5,628 awards. Thus, over one-half of the entries were "winners" and could advertise themselves as award-winning wines."

It seems WC paper has much wider applications, than just within the ivory tower.

Critical thinking and logic and ECONOMICS

Some slides from the philosophy course.

The Ideal undergraduate training for Economists

Come from "Economics Geek ",

First Year, Semester One:
Principles of Microeconomics;
Math Eco 1 (Calculus);
Math Eco 2 (Linear Algebra);
and Index Numbers in Economics

First Year, Semester Two:
Principles of Macroeconomics;
Math Eco 3 (Differential and Difference Equations);
Math Eco 4 (Vector Calculus);
and Econometrics 1 (Introductory Math Stats).

Second Year, Semester One:
Intermediate Microeconomics;
Math Eco 5 (Real Analysis);
Math Eco 6 (Static Optimisation);
and Econometrics 2 (Principles of Econometrics).

Second Year, Semester Two:
Intermediate Macroeconomics;
Math Eco 7 (Dynamic Optimisation);
Econometrics 3 (Intermediate Econometrics);
and Welfare Economics.

Third Year, Semester One:
Advanced Microeconomics;
Math Eco 8 (Probability Theory)
Econometrics 4 (Advanced Econometrics);
and International Economics.

Third Year, Semester Two:
Advanced Macroeconomics;
Econometrics 5 (Applied Econometrics);
History of Economic Thought 1 (Microeconomics);
and Game Theory.

Fourth Year, Semester One:
Graduate Microeconomic Theory 1;
Graduate Macroeconomic Theory 1;
History of Economic Thought 2 (Macroeconomics);
and Economics Research Project 1.

Fourth Year, Semester Two:
Graduate Microeconomic Theory 2;
Graduate Macroeconomic Theory 2;
History of Economic Thought 3 (Econometrics)
and Economics Research Project 2.

And looking back to my courses taken related to economics:

First Year, Semester One:
Introduction to Economics I (Intro Micro)
Basic Mathematics I (Basic Calculus)
Analysis of Econ Data (Basic Math stats)

First year, Semester Two:
Introduction to Economics II (Intro Macro)
Basic Mathematics II (Calculus and some Linear Algebra)

Second year, Semester One:
Microeconomic Theory
Macroeconomic Theory
Econ of Property Rights
Game Theory

Second year, Semester Two:
Introductory Econometrics
International Trade
History of Economic Thought (Mainly on Neo-Institutional Economics)
Mathematical Methods in Economics

Third year, Semester One:
Labour Economics
Industial Organization
Math Econ
Uncertainty and Information
Antitrust

Third year, Semester Two:
Capital Theory
Auction Theory
Econ of current affairs

Not very far from ideal, but it seems I should put more time on the "hard" skills.

Time travel

Can anyone think of an economic proof of time travel is impossible?

I have got an idea after MT Cheung's class, let see whether it will convince you.

Proof:
Interest rate determines the relative price over time for the same commodity.[1]

If time travel is possible, there will be an arbitrage oppounity if the price of the same good over time is different, which means, if there is interest, people can gain by "buy low sell high".

The above implies, under ideal situation, interest rate = 0 if time travel is possible. We observe that, generally speaking, interest rate is not equal to zero in our world.

So not B ---> not A, time travel is impossible. Q.E.D.[2]

Notes:
[1] You may refer to I.Fisher's "Theory of Interest".
[2] Q.E.D. stands for "Quite Easily Done".

How to rank?

Doing good with good intention
Doing good with bad intention
Doing bad with good intention
Doing bad with bad intention

Friends, how would you rank it?

According to the economics trainning I received, we should just look at the ends without concerning the unobservable mindset.

In this sense, is economics trainning also pass on some value judgement?

明智

「自知者明，知人者智」 --- 老子道德經第三十三章

是為明智

解釋:
能瞭解自己的人，是真的明道之人；
能瞭解別人的人，是有智慧的人。

Congratulations on winning the Best Teacher Award!


[Note: The order of quotation is inverted to get a better match.]

Econ 201

Principles of Microeconomics

Trailer

Commercial

I won't play this kind of game even I have nothing to do, but it seems a lot more interesting than attenting the boring lecture.