Category Archives: 3 Economics

The information that you provide in the following survey is anonymous.

Congratulations to the following individuals who earned an “A” in Mr. Wood’s Economics course for the first semester of 2014/15 school year.

• 104% – Lanessa Meyers
• 101% – Jasper Martins
• 99% – McKenna Whipple
• 98% – Nate Wahr
• 97% – Davis Masterman
• 95% – Miranda Riegler
• 95% – Simran Rai
• 94% – Georja Whipple
• 91% – Merci Evans
• 90% – Michael Little
• 90% – Hannah Delora

Capital goods are the machines that make doing work easier; they increase productivity.   A capital good may be as simple as a hammer.  Think about it…can you imagine how unproductive driving nails with your head would be…for most of you anyhow.  The use of a hammer allows you to do the job better and faster.  Consequently you (the hammerer) are able to pound the nail and move  on to other activities and use your time more effectively.  Tractors and cell phones, computers, cars, and aircraft carriers are all examples of capital goods.You can also seek the help of experts who can do marketing for car dealerships as it also plays a vital role in increasing capital productivity .  A nation whose economy  is plentiful in capital goods can provide its citizenry the advantages of wealth and higher standards of living. Health and education systems, transportation – life in general is usually easier in such a state, you always need something to make your life easier, for example at work the use of professional and management of HR is essential to make it better, check in www.nominakhr.com/ for more info if you have a small or big company.

Human capital is the knowledge that allows you to access physical capital.  A tractor isn’t of much value if you can’t figure out how to turn on the ignition.  A hammer in hand won’t drive a nail into wood unless you strike it correctly.  Some human capital is simple; other extremely complex.  The key to human capital is obviously education.  Whether you go to the CTC and learn culinary arts, or if you dual enroll in a psychology class at MCC – you are accumulating human capital.

The key for you is to develop your human capital and make it so that what you learn will be useful in the real world.  You may go to college or trade school, you might seek an apprenticeship or enlist in the military, but you better focus your future on acquiring some skills (useful human capital).  If you do not do so, your standard of living and future opportunities and quality of life will suffer tremendously.

Individuals in the third world are so often at the mercy of their circumstances.  They don’t have schools in which to be educated, or time away from struggling to meet their needs to even go to school.  Natural disasters, war, and disease strike down so many of the poor before they’ve had a chance to live.  Particularly for women, human capital is often wasted, or never even developed.

For this RWE Option S – find an article that documents the plight of Women and the challenges of producing human capital in the third world.    The article may deal with education for third world women, or it may apply to roadblocks formal and informal that they encounter.    You may concentrate on the story of a particular individual who is struggling thru their own personal circumstances, or look at institutions that serve to multiply opportunity.  You may choose to report on issue (s) that stifle the development of these women.  I don’t care the angle that you use to take on this assignment – but find something that fits. And make sure that women are at the core of the piece.   Look long and hard and find a good article…remember, step number one in the creation of a solid reflection – is an interesting article.

You must actively read the article and turn it (or both if you have a partner) in