Thursday, December 6, 2012

Class in Review

Class in Review
This class is bar none one of the most worthwhile I have taken at U of I. I've learned many theories and topics that were not only new to me but certainly applicable and useful in the workplace. Each unit contained several ideas that provided me with a new perspective to view the operations of organizations and general microeconomic activity. The topic I found most interesting was the discussion of the Argyris and Schon Models I and II. I had never heard of these models prior to the course but they both articulated issues that I have experienced in past jobs and such. They are able to create a standard with which I could evaluate conflict in my dealings within organizations. The quantitative approach to moral hazard was another topic I found very useful and interesting. Our in-depth coverage of moral hazard provided me with a comprehensive understanding of a topic I had little knowledge of prior to the class. Transfer prices and transaction costs were new to me as well, and these topics seem extremely practical and important to understand in the business world.

The blogging that we do in this class was the first type of activity of its kind I've engaged in at college and I think it was extremely effective. Personally, it allowed me to apply advanced economic concepts to my personal interactions and past experiences in order for me to understand them better. The casual setting of the blogs also helped me understand the topics in a more full manner. Lectures were also valuable but one aspect I wish was different was that I would have preferred more lively discussion and interactivity within class. The casual aspect of the blogs was very beneficial to me and I would have enjoyed that aspect with in-class discussions as well.

The excel spreadsheets were another aspect of the course I was impressed. They succeeded in breaking down advanced technical concepts into more simple parts and then bringing those parts together. However, towards the end of the class the math began getting a little complicated for me. I do not have the strongest background but I do have a substantial one and beginning in the moral hazard unit, the equations and derivations of equations that were introduced were beyond my full understanding, which was disappointing because I thought the quantitative approach to these topics was very interesting.

Overall the course was my favorite and most worthwhile that I have taken at U of I and I believe the course structure was very appropriate and beneficial.