Greg Mankiw is a professor of Economics at Harvard University. He has written an introductory Economics textbook that is widely used in AP courses around the nation. He has served on the Presidents Council of Economic Advisors, and is a real star in our field. In this New York Times article, he spelled out his advice for the college bound. Read the article and leave your comments. Do any of his points hit home for you? Remember no copying your fellow student's comments.
87 comments:
Professor Mankiw is absolutely right about learning some finance. I know a lot of people who still have no idea how to file their taxes or balance their checkbooks and are not educated on things like long-term loans and mortgages. Not knowing what to do creates confusion and puts people in financial situations that they can't manage.
Benjamin Kurian
Period 4
I thought this was an interesting article. He gives advice for classes which he thinks is best to support students by the time they are out of college. Mankiv's information is very useful and I will definitely look into those classes he recommended. The good thing about it is these courses are applicable in everyday life. He also points out how these classes are beneficial for people and is needed to make a difference, just like what Mark Zuckerberg and Bill Gates did.
Elyssa Buntzel 4th p
I think his advice was simple and to the point, and as a prospective college student, everything seemed relevant to my future life. I can value his information since he teaches college freshman. Ignoring advice hit home for me because everyone I know has an opinion of where I should go, however I am the one with the ultimate decision for my life.
I thought it was a well written article, and as someone interested in majoring in Economics, I will try to remember his advice. Finance is one of the most important aspects of life and business, and without it you can lose everything you own in a split-second. I also enjoyed his thoughts on ignoring advice, as every person has a different background and different experiences, so the same advice may not necessarily apply to multiple people.
Nima Faegh
4th Period
Bethany Williams, Period 2
I felt he was right in saying people should learn some psychology, even if I didn't necessarily agree with why we should. Knowing why people act the way they do can sometimes help in making decisions, or lead us to understanding how to market. Also, his advice on learning finance, while I don't agree that we should focus on learning about stocks, should be taken seriously. Almost all citizens graduate high school, and have absolutely no idea how to manage taxes, bills, etc., leaving them with a large sum of debt that they don't necessarily know where it came from. His four main points seemed relevant in life, and everyone should listen to them, but for their own reasons- not necessarily his.
Christian Do
Period 4
I agree with him in that learning psychology is vital, especially in social interactions. And in today's bustling world, learning finance and economics will be a necessity in order to thrive and have prowess in the economy. Especially for next year's freshmen in college, his advice is very noteworthy no matter in what major you would take.
Tiffani Weir
Period 2
I definitely agree that there should be more of an emphasis on Statistics in the high school curriculum. Mostly be because I think that what you learn in school should be able to be applied in common real world instances. While I don't think that psychology is a course that necessary for real world survival, I do think it is important to understand why people do the things they do.
Cecil Sabu
Period 2
I personally thought his advice was great. Classes like Economics, Finance, Statistics, and Psychology are classes that can really help us in our future lives. Unlike the core classes that everyone is forced to take, these classes teach us about how to do things that we will have to do on a regular basis! Economics teaches us how businesses work in the world. Statistics allows us to determine the probability of certain things happening. Finance helps us to manage our money and make frugal decisions when necessary. Psychology is useful in understanding the people around us and ourselves. These are all things that we don't usually learn in regular English, Math, Science, and History classes, yet we should all have this knowledge before we are on our own in the world. After reading this article, I'm glad that I have taken most of these classes. However, like Mankiw said, you shouldn't take everyone's advice, so it is up to each person to decide whether these classes will benefit them or not.
This was a good informative article. I agree that it is important to know more about finance because you need to know how to handle your money. It is also important to learn some statistics because you can apply that to everything you do. He gives great advice on getting prepared for the future, and I will try to utilize his advice.
Brien Benny
Period 4
I very much agree Mankiw, we should be taught more courses such as statistics because it applies more to light rather than a specific field. I also agree that a fundamental psychology class should be taught as well so that people can understand other people more allowing them to make a more educated choice in regards to specific situations, such as markets.
Celine De Leon
2nd period
What really struck me as interesting in what professor Mankiw writes is how instead of recommending the average core classes as being important, he tells students the benefits of taking Statistics, Economics, Psychology, and Finance. Classes that you would take for granted. Making the transition from high school to college, having a basic understanding of these classes could be substantial and beneficial in the future when we have to deal with the game of life ourselves.
Sherin Johnson
6th period
Lynnie Dickson
Period 6
Professor Mankiw writes his article to advise future students about the necessity of different educational foundations that will be needed for the real world. I was not surprised when he advised to take an economic's class. The world no-and-days is run mainly on the economy and the businesses. However, I did find it interesting that he advised us to learn statistics. I always thought is was one of those high tech math classes that wouldn't be used in our everyday lives, but was just there to make us look smart. But it seems economy would be nothing without loads of data.
Christine Nguyen
period 6
I absolutely agree 100% with Professor Mankiw's advice about studying all of those subjects. Having learned Statistics last year, I already know how finding data and testing things work, and it is definitely useful. I actually already planned on studying all of these subjects in the future because of the benefits it will reap and it will definitely help anyone and everyone in the future, especially in the business world. His advice is on target, and we should really consider what he is telling us to do.
I've always wondered whether strict teachings like euclidean geometry were really worth it after all since the world is such a free place that it cannot exist in one principle for more than a moment, if their is only one principle related to that moment anyways. I don't understand statistics because no one in elementary or middle school was even good it, even though its probably more because I can't remember how to read all the charts they taught it. Also, I've only ever learned in how to balance a check book and stuff like that in the 4th grade for only about 30 minutes, so of course I'm going to be financially dumb when it comes to managing my savings when I'm on my own. People real teach the daily necessities in school more, not just the future prospects.
My favorite point that he mentioned was that psychology is important because it's used in everything. I wouldn't necessarily agree that it makes people more rational, but it can open up people's minds to different perspectives on choices that they can make. Human behavior is what runs the world, so you might as well learn to understand when you don't love it. That's why I think ignoring certain forms of advice is best, not just because I hate history, but because times and people change, so we all might as well figure what we want to like everyone else, even those who seem like they aren't selfish. The same goes for economics; it's all a psychology project in more than one way or not, just not methodically scientific all the time. No one can ever truly know the one answer, if their even is one besides ourselves.
Amy Krauhs
Period 4
Professor Mankiw is spot on with his advice...which is to ultimately take your own advice. You are the only one that knows your desires and passions, thus you should be the one making the decision that will affect the rest of your life. Sure, listen to others and what they have to say and take their ideas into consideration, but in the end listen to your instincts. I also agree with his recommendations on taking economics, psychology, and statistics classes. I believe that the wold we live in is money oriented and market driven. Therefore, we should be learning how to be successful in this business world by learning the basics of economics. Psychology is useful because you are learning how and why people act and think they way they do, and thus could set yourself up for success by knowing human patterns. Same with statistics, this math is actually applicable in much of everyday life, which makes it useful to learn to help you in the real world.
Nina Jiang
Period 4
Laura Luo pd 4
Likewise, I believe it is crucial for anybody who wants to succeed in life, especially college bound individuals, to consider Mankiw's advice. For one, learning how economics is - the study of scarcity- will help those understand the reason behind our economy. Also, it's part of our duty to evaluate what politicians sometimes claim to do - like Mankiw says - under our predisposition.
In order to understand economics, Mankiw emphasizes the importance of knowing -or learning - psychology, statistics, and fiance. These rudimentary subjects are crucial to analyze the behavior of how our economy works. The people- the kings of free trade - , the data - the plunges of information available- , and the money all combine to make our life goes round. Without the right tools as Mankiw says, we won't be able to make the right decision and despite the many advice we get. Individuals must be able to think and analyze the economy themselves rather than listen to other people's advice: make a choice from what we learn. Then, we can become the new generation like Gates and Zuckerberg. All it takes is to have the right tools to dissect the nature of economics.
His advice is very well given. As we are about to enter college we should learn more about economics and finance because it will shape our future, versus understanding just theories. We should apply economics to our daily life instead of just learning it as theory.
Jonathan Winfiele
2nd
Amy Nguyen
Period 6
I agree with Professor Mankiw's points because especially with Psychology and Statistics. In Psychology, we were learning about standard deviation, and during the time my teacher was teaching the class, all I was thinking was “I wish I’ve taken Statistics,” because I saw Statistics being applied to Psychology, even though they are on two different spectrums. In addition, I agree with him on taking Psychology because I have taken a few months, and I already applied to multiple instances from not falling for the “foot-in-the-door” technique at the farmers’ market when venders were trying to persuade me to buy more than I needed to apply certain psychoanalytical theories like Oedipus complex in English essays. I have only learned Psychology about a few months ago, yet I still have not applied proofs from Geometry.
The one that really hits home was the importance of learning Economics. Ever since I was able to think about what occupation I wanted to pursue, my parents told me to stray away from Economics and anything related to business, so I just saw Economics as a class I have to take in order to graduate from high school. Now, since Mankiw putting into perspective I can see it as a tool for the future like learning how to think logically, break down arguments, and actually understanding future presidents’ economic policies to vote for the one that I agree most of and not just focus on if they are liberal or conservative.
Minh Le
Period 4
I believe that Mankiw makes a very strong argument in regards to learning about finance. Too many people do not know the essential process of creating a secure financial future for themselves. Ignorance produces groups of people who are not able to keep up with the rest of the pack, which not only hurts the individual, but rather hurts entire communities in general.
Rachel Chang
period 2
I was surprised at how applicable economics actually is to my personal life. Professor Mankiw is right in that because economics is the "business of life." I often think of this subject as a whole lot of statistics in the newspaper that are meaningless to me because they make no sense. However, when Mankiw connected the subject of economics with courses I have taken/am taking, such as psychology and statistics, I knew that it applied to high schoolers like me as well.
Daniel Sanchez
6th Period
Most of his points I do agree but only to a certain extant. I don't believe that every college bound student needs to know bonds and stocks, although they can cause great reward but at the same time dramatic loss. Also the psychology perspective he gives makes no sense. So he's telling me I have to mentally train my brain whether something is good or bad, that's common sense. Yes it's true that high schoolers are nieve and don't want to learn but what's the rush, stuff like Makiw says can be taught in any stage of life.
Nevin Thomas
Period 2
This article was very true in the aspects that we should take psychology and statistics and also should at least learn a little economics before entering college. It is human behavior that drives business so psychology is a must, and statistics is a very good skill to learn. You should at least know the basics of business before entering college which is a must for business savvy people, professor Mankiw did a very good job with this artcile.
Rachel Kuruvila
4th period
This article was very straightforward. Mankiw suggested for the reader to take certain courses and then continued to explain why. The point that really hit home for me, however, is the point he made about the changing views around us and how making your own decisions is key. While taking into consideration what others have to say, you should make your own decisions in life.
Patrick Stallings
Period-4
I thought his article was very good. Yes some of the points hit home for me. For example, the suggestion of taking a psychology course. I think that this suggestion is very wise, because is studies people and how they behave. Also the fact that he was a college professor also struck home. It showed me that he was giving advice from personal experience.
Paul Stallings
Period 6
Mankiw makes the point that economics is the "ordinary business of life." I find this to hit home because it applies on an everyday level. I also find his point that students should focus on statistics as close to home because it also applies to my everyday life. I also find his point that students should follow their own path very important. This hits close to home because it allows me to follow my own way, and make my own decisions.
Aadithya Srivatsav 4th Period
I think the part that really stood out to me was the part about the advice and how we should listen to it but ultimately use our own instincts and judgement to pick our path. I also liked how he placed emphasis on psychology and how learning psychology can help one become a better economist.
Brian Huynh
Period 4
I really like how the article talks about the usage of economics in the real world. Economics improves one's life through smarter decisions, especially financially. He also correlates economics with other subjects such as statistics and psychology. The subjects don't necessarily mean one will become a better economist, rather one will succeed at life through the knowledge of those specific classes.
Alyssa Wilson- 6th period
I like how Mankiw tells us to learn economics so that we can "avoid being fooled by economists." It's true that we need to have a basic understanding of economics before we can say we agree or disagree with any economists predictions, and before we can act accordingly. Overall, the articles advice on taking courses and learning things for the sake of learning and having the ability to make informed decisions feels encouraging.
I though the article was very interesting. I like the part where he tells us that we make our own choices when it come what we want to do. I also liked the part where he said that the next generation will shape our economy.
Nikhil Njaravelil
4th Period
I find it interesting that he said "Few high school students graduate with the tools needed to make smart choices". I feel as though i make smart decisions everyday. It has me second guessing wether I am making actual smart designs or what seems smart to me. I also like that he say you can ignore others advice. I finally am given permission to do what I feel is right.
Professor Mankiv hit home with me. I myself don't know much about real life economics and am really eager of what lies ahead. I take hard challenging math classes but I don't see much use of it outside of school. It makes me anxious to see what our generation can achieve but I am also aware of the mistakes we can make. Everything he said was relevant to any student and I like how he made it personal and gave his opinion on things.
-Jenifer Galan
4th
Karen George
6th period
This article written by Professor Mankiv is an article that all students should read, whether or not if they plan to major in economics or any other related field. The Things we learn in the classes that he mentioned are necessary for situations we face everyday. By gaining knowledge from these classes we are able to make smarter decisions in our world and will not be easily fooled because we understand how the world and its people operate. I am taking the classes that Professor Mankiv mentioned and they have helped me understand and see our world from a different perspective.
I agree with what the author is saying, especially his opinion on the current state of our high school mathematics curriculum. However, I think that high school kids should be left to themselves and choose what they want to do, instead of wasting their time at school learning things that they can rarely apply. I read that in the late 20th century, high school students were introduced to basic finance as well as practical, every day things like managing their taxes and paying their bills and saving money. Overall, this article is useful for high school students.
Jeffrey Zhou
6th
Jennie Chen Period 2
I completely agree with Professor Mankiv. People should not walk into the world of business blind and uneducated. People don't realize that becoming familiar with economics is beneficial for the state of one's future. In high school, many have never wondered or questioned how things work in the real world, causing problematic issues for themselves later on. Also I agree with his view on having more emphasis on classes like statistics. The traditional math classes may be required by curriculum, but that doesn't mean they are used outside of school for everyone. School should be prepping students for what is to come in life.
The most interesting thing that I found in Mr.Mankiw’s article was the fact that you need to educate yourself in economics so that other economists don’t try to fool you. This point not only talks about economics, but is true for anyone that is heading into a bigger stage in their life. For us that would be college. I also like how Mr.Mankiw talked about hearing other’s advice, but in the end making your own decision. This is particularly true because you are the one that is going to be living the result of your decision and not the person that advised you. It may sound harsh to other person, but that is the reality in it.
Renuka Gondi
4th period
Manon Hughes
6th Period
I really enjoyed this article. Mankiw's points are very insightful, and I believe that they ring true as well. Everything in the world runs on business and money, whether we would like to think so or not. Since everything runs on said factors, it makes a LOT of sense to put an effort in to learn about it. Mankiw makes a good connection between economics, and everything else in the world. He tells us that economics is just a small part of the bigger picture for people, college students especially. I think he also reinforces the idea that you will only get out of college what you put into it- so take more than what is required, and really try to get the skills you will need for whatever career you are after.
Jacqueline Gann
Period 2
Professor Mankiw makes many good points about what should be taught to students and how each of those things (Economics, Finance, Statistics, and Psychology) are important to having a successful future, but one point that I thought was very interesting and I completely agreed with was about ignoring advice from others when in disagreement with it. As young adults we are often told what to do and get into the habit of listening to and believing others without much thought. It is important that as young people we continue to think for ourselves and act on our own thoughts and opinions because that is what can end up making us successful as individuals.
Tosin Olabinjo
4th period
I actually quite enjoyed this article. Professor Mankiw provides a lot of insights into the kind of education people should be getting in contrast to what they're actually receiving now.The point about learning about finances is very relevant to me because I feel like if I stopped school and went straight to college or into the workforce right now, I would be completely clueless as to how things like paying taxes, investing, and stocks work.
Tia Lal
Period 2
I think Professor Mankiw’s advice is to the point and really helpful because I am rethinking about what I want to do in college. I am taking three of the four classes he mentioned this year, and this article has helped prove the point that these are not subjects that I will learn this year and never use it in the future. Economics is interesting because it shows how the people, businesses, and the government are all interconnected and how the invisible hand pushes the market to equilibrium. Statistics is different from other math classes in that it applies to everyday life. It is more practical than calculus or trigonometry. Professor Mankiw’s advice has persuaded me to pusue these studies in college.
Jasmine Luke
Period 6
I really liked the authors point about how "high school students learn too much geometry and trigonometry", when they could have learned economics. I agree with the author because economics had real world application and is an important subject if one wants to be an informed citizen. I think economics is thus, useful for understanding the financial aspect of society, for my own future and benefit.
I agreed with Mankiw's point on studying psychology. The study of human behavior is the most key part to understanding yourself and other people.
Amitabha Mitra
6th Period
Fabian Romo
Period 4
I thought that Mankiw's advice is incredibly useful and very vital to one's personal life. Studies in psychology can help you in social interactions and dealing with people in general and can help your cognitive skills as well, as for Statistics, Economics, and Finance, those are all essential to our future life when we are no longer "kids" and we have to rely on ourselves to do our own taxes and support our own families. I can also relate to his thoughts about ignoring advice because I do it myself but ultimately the decision is mine, and someone very close to me who I support also is in a very similar situation. You are the one who ultimately makes the decisions for your life.
Lindsey Jones
2nd period
Mankiw's view on the importance of economy gave an important insight in relation to the world's expectations, that economy is the study of the game of life. With mathematics, I agreed all through high school before I even had an economics class, that geometry and calculus is nice for someone in the engineering field, but for the majority of the population, it is a waste of time. When it comes to paying taxes, paying bills, and needing to know what is going on economically and politically around the world, algebra and statistics is key.
Jesse Avila
Period 4
I agree with Professor Mankiw where classes such as Economics, Finance, Statistics, and Psychology pose more of a relevance in our lives compared to the classes that we are forced to take in the public education school system. Having taken most of these classes, I found what I learned in those classes to be extremely beneficial in the long run of life. But in the end, even he himself said you should ignore advice as you seem fit and pursue your own decisions in life, and that's what really matters.
Sylvester Inyang
Period 2
I Really liked the article and his view on life. i really agree on what he said about high school math. i think in general a lot of the classes we take in high school are useless and in some cases never effect us outside of school, instead of us wasting a year in a art class we should be learning more about real world things like economics, finance, statistics etc. Because you have alot of graduated seniors thath dont know how to handle money or dont know how to invest it, so i am with him 100% about that.
I think the whole article was horridly biased toward an economist teacher. If an art teacher were to write on the same topic, he or she would go crazy, advising drawing classes, art history, psychology, and surrealism. Learning about the economy can "help students understand the whirlwind of forces around them" but so can an introductory chemistry course! There is a huge reason many people don't need to take finance in college. Just pay someone to do it for you! I believe that you should take classes that you love. After all, from an economist's point of view, we should all be making the best use of our resources. If Bryan has the potential to become the world's greatest author, why have him spend money on a finance class? Specialization is a key fundamental aspect that we all should follow, and this article gives no justice to the matter.
Kimberly Mendez
Period 4
It is refreshing to hear Mankiw’s insight on classes. Often teachers assure that the subjects that are taught in the high school curriculum are fundamental and, thus, give extensive amounts of work in order for the student to master the particular subject. While the student may be able to solve for x or understand the events of 1810, like Mankiw claims a lot of the coursework is too “traditional” and “limited in preparing for the future.” I agree and believe that school should help us prepare for ‘the real world’ rather than teach us how to conveniently pass a class.
Todd Podbielski
6th
I really liked the comment "one purpose of studying economics is to avoid being fooled by economists." This county would be much better off if everybody was educated and did not just go off of what the biased news stations said.
Sheryl Machado
6th
I thought this article was informative about what the author thinks about students by the time they get out of college. It reflects how certain decisions that students make reflects their choice in life and its outcome in the future.
Zachary Frazier
2nd Period
This professor is completely honest when he talks about how people in today's day and age neither care or pay attention to the economy, which affects their everyday lives. The fact of the matter is Mankiw is recommending the everyone should know at least something about the economy, and the something should be something that actually pertains to them not just random knowledge. He knows from experience that learning just the basics of everyday economics will take you further than you think.
Although at times I saw this article to be one sided; that he promoted his own profession to later give reference to the textbook he had written, I feel there is truth in the doctrine he teaches and I can relate to how he would suggest classes like Stats, Psych, and Economics -- all classes that I am taking right now, because I would also promote these classes because they are far more critical in ones life than other classes such as physics or calculus because these classes focus on what a majority of us students will have to do as a chore or errand when we get older. As far as his opinion on how this all leads to bettering our knowledge of the economy and its total state, I feel skeptic, but he would have more experience in such practices so I have to take his word.
Jocelyn Dang
6th Period
I completely agree with what Professor Mankiw is advising college students to do. Economics is based in everything in life. From the psychology of it to the finance of life, economics is essential to being a well-rounded individual. The point that Professor Mankiw mentioned, which really hit home for me, was the statement about how much the salaries of college graduates and high school graduates differ and that it was imperative that students study economics to know how to manage their salaries. Economics gives us a good foundation for our intuition when spending and saving, and without this foundation, no good salary could survive.
Joshua Joseph
6th period
I very much agree with what Professor Mankiw said. Classes like Economics, Finance, Statistics, and Psychology are all classes that help prepare individuals for the real world. It's a shame to see ours friends who are in college not have any idea on how to make money or what there going to be spending it on the future such as a mortgage or car loans. Studying such things will help them for the future. This was a well written article because all the topics he spoke about come together and will help an individual succeed in life.
Justin Freker
Period 4
I like what Mankiw is saying and his point that he is trying to get across. I agree with him the most when he talks about the high school math classes. We spend so much time on topics that I feel we will rarely be able to use in our lives out of college. We should spend more time on real life situations. I also agree with him when he says college is a investment with a big payoff. For almost all people, with an exception of a few, college is the way to go if you want success.
Timothy Krauhs Period 6
The thing I find the most important information by Professor Mankiw is the stress on statistics. I feel this hit the most because with the more focused use of computer data stats are going to overwhelm the economic if people can't understand the data there given.
Guadalupe Alvear
Period 2
I think that professor Mankiw gives great advice in saying that college-bound people should diversify their courses in taking these classes like economics and psychology. He gives this advice to help students prepare for when they graduate and years after. He says that just taking one of these courses will help students so much in the long run.
I felt that Professor Mankiw was straightforward and to the point. Every time I think that sometime soon i will have to be independent I Feel nervous.i have no idea how to manage the money i would make. he is very right in advising incoming college students to take an economics class. Psychology class is also a good idea; because psychology is the study of human minds and all us have to deal with humans in our daily life.
Cameron Molfetto
Period 4
Professor Mankiws' points connected with me very strongly. I believe everyone should take the classes he stated and learn as much from them as possible. I also believe, like Mankiw, that college students should diversify their courses, so that they can possibly discover a career they are interested in.
Samantha Fonseca
4th Period
I think Mankiw's advice was good and the courses he recommended for students to take were classes that we need and are applicable in everyday life. I and many other students don't know anything about finance and learning about it would be useful and would help us make better choices when we become independent of our parents. His advice to not listen to others hit home for me because many people are telling me what's best for me and the best thing to do is listen but in the end make my own decision.
Professor Manikw is correct in his advice to study in Psychology, Economics, Statics, and Finance because those classes all attribute to better understanding our world's market, which will help us lead successful lives. These subjects coexist with each other in that Psychology helps us understand mindsets and attitudes while finance, economics, and statistics all help us understand the direction of money. These are things that won't be taught in a normal curriculum which is why taking these classes will inevitably be essential in the long haul.
Brayden Theriot
4th Period
I believe he was right in everyway in the aspect of taking in the advice of adults and experimenting with it, and that people should evolve those suggestions to fit their wants and needs. This idea gives young college students a template to work with, instead of jumping in blind.
Yash Mathur
Period 6
I beleive Professor Mankiw is right when he talks about how the next gerneration will have to shape up their own economy just like the past generations have, and the only way to learn and implement that is by knowing a little bit a bout finance, statistics, and phycology.
Amanda shah
Period 4
I really liked the article. He basically told us that we should not underestimate the importance of economics, statistics, Psychology, and finance. Sometimes we brush off these subjects are boring and pointless or we don't take the time to learn them. He talked about the useful of being proficient or at least comfortable with these subject.
My favorite part was at the end when he said it's okay to ignore advice because you shouldn't always follow what other people say. You know yourself the best and even though you might make mistakes, you'll succeed at the end.
John Harris 2nd Period
His views on a course in finance I think I will one hundred percent look into. I feel that the course would definitely help me in the future. However my favorite argument from him was that you should ignore advice as you see fit. I feel that it is all to common that students blindly follow the advice of their elders and end up doing what they do not love. his advice on stats and psychology I'll think about but don't have much interest in.
Personally I agree with all of his points that he made. Knowing about economics and how the market works and things like that can make the difference from living completely from paycheck to paycheck to having a little extra money each month after the bills are payed. The part about ignoring advice as you see fit struck me as a bit odd at first. However, when I thought about it, it made sense. A lot of people give you advice on how to spend/save your money when you're in college. While it's important to take this advice into consideration and heed it as you see fit, you also have to branch out and make your own mistakes and learn from them, because that is just as important.
Muizz Soomar
2nd Period
This article is very interesting. I do agree about the point he made about how even the basic introductory economics course will help you a lot. It can not only give you a lot of information, but it will also help you achieve a wide variety of jobs. Finance, Statistics, and Psychology will most defiantly help you in the economics field because they are all parts of being a successful economist.
Julie Joy
6th Period
The article really was to the point and made economics seem more interesting. I agree with all the points in which he made. Knowledge on economics can be very useful in the world we live in today because it helps us understand many things in the financial aspects of life. What I agreed with the most was when Mankiw talked about statistics and how it is helpful in the world unlike a lot of the other math courses we take that do not help us in our future.
Divya Joseph
6th Period
I believe Professor Mankiw is right that Psychology,statistics,economics, finance are important subjects to learn. Those are important subjects to learn because most of what you learn in those subjects pertains to your everyday life. Professor Mankiw really shows students a different view point of the importance of these subjects. I also agree with him that many people don't show much importance to these subjects.
Ashish Jain
4th period
I think that what Professor Mankiw is saying can be helpful for any student who wishes to proceed and prosper in the rest of their lives. Almost everything he says is something a student can relate to, including the section about how high school mathematics, besides probability and statistics, is not very useful in the real world. This would pretty much be the answer to every high school student who dislikes taking math classes. Therefore, I feel like he is a professor that everyone can relate and connect to in every aspect that he displays. The mathematics part was probably the section that hit home for me and made me realize that the rest of the article was important for my every day life in the near future.
I completely agree George Mankiw in that finance is indespensible in modern life. We as students, in most cases, are definitely unprepared for the real world in that we have no semblance of knowledge regarding filing of taxes, morgatges, loans, and investments. In most cases people learn through experience but for many this is akin to a financial death sentence. The only means to avoid this outcome is to learn the art finance before entering the real world as students.
I personally really like how Professor Mankiw brought up the point of his article. He made it interesting and slightly humorous as well and the fact that he was writing it for his children also struck as an emotional appeal. Also, economics never really struck me as important... like, I knew it was IMPORTANT but not that important! I guess the reality that it impacted me never really hit me. I also like how he pointed out that economics has other aspects to it, like mathematics, psychology, and finance. It was interesting to read.
Mankiw's point were to the point and easy to understand. Being in Stats and Calculus, there is huge difference between the two classes. However, I will probably never need to know about limit of f(x) as much as mean and standard deviation. Also, many psychological believes are used to determine some of the policies of economics and hence is a major part in learning to be a better economist and an overall highly knowledgeable person. I feel like he was advertising himself and his work, his skills in business are spot on.
Chris Sani
2nd Period
Annie Jiang
Period 6
This article was really insightful and interesting. Professor Mankiw's perspective of combining a psychological aspect to the business world was a different take on dealing with finance. It was not an idea that I thought of before.
Jacob John
Period 6
Professor Mankiw had a great point that hit home with me instantly. It consisted of, "Those leaving home and starting their freshman year should listen to it, consider it, reflect on it but ultimately follow their own instincts and passions". This quote shows that you should take in all of the advice given to you and understand it but at the end of the day make your own responsible decisions. This article contains many ideas that our vital for us students, which has been mostly taught to us throughout my high school career.
Akintunde Sowunmi
Period 4th
This article is enlightening because I feel like Mankiw not only understands what the future holds for us students, but he also understands the thoughts of students. He knows that we don't really like the idea of being taught trigonometry and graphing functions if were not going to use it in the future. Learning finance and learning psychology allows us to become more insightful and useful in the future as we will be able to understand human behavior and learn the ways of marketing and different ways how money is made.
Krista Killam
Period 6
I think that Professor Mankiw is telling us students to focus on the future. We should take classes that would benefit our everyday lives, not just our major. Students should also listen to every piece of advice that comes our way and really consider every possibility offered to us. Our future and our choices are in our hands, therefore we have to make the most of that.
I strongly agree 100% that students need to study and learn economics("the ordinary business of life"). The advantages that come with studying the course - analytic skills, citizenship, etc. - is bar none when compared to what the real world will throw at us.
Not only does the article point out why students should study economics, finance, psychology, etc., but it also gives some meaningful advice. Mankiw says that we should follow our "instincts and passions" in order to shape the near future that is us. All in all, I extremely enjoyed reading this article.
Christian Beduya
Period 6
Justin Hoang
6th Period
I enjoyed reading this article. He made some good points on how subjects like trigonometry is not useful to our daily life. And how we should take classes like Statistics,that we might need to apply in the real world.
To a certain extent, I agree with Professor Mankiw about having general knowledge in the fields of statistics, economics, finance, and psychology before entering college, but just for the sake of being well-rounded. Unless one plans to major in economics like Mankiw appears to be strongly encouraging, I really think that these courses will mean little to nothing for the average college freshman. Although these subjects could be useful to virtually all fields to some degree, they will be of benefit mostly to economics majors. The article is very biased in favor of economics and Prof. Mankiw does appear to be rather (somewhat overly) fond of himself and his work...
Yvonne Thong 2nd
Caroline Van Nuis 6th period
I agree with this article because I think it is important for us to learn how to manage our money in college so we can be smart with it later. I agree with his point on the most basic lesson of finance that diversification reduces risk without lowering expected return and feel that everyone should know this lesson.
One thing that really struck a cord with me was when he talked about highschool math not being applicable to most real life situations. Of course, understanding numbers and how they work is important to a lot of things in life, but most things that we learn in calculus are random and not used for anything. Another thing that stuck out to me was when we talked about choosing what advice to take and what advice to ignore. Everyone will have their own input on what you should do in college and throughout your life. However, only you truly know what you want to do and what will make you happy.
Luke Emery
6th Period
Taylar-Jayde Dodwell
6th Period
Professor Mankiw is absolutely right in what he teaches. I believe he is correct that taking classes in economics and psychology are very important to young people in this new age. Now a days people have no idea how this economy works and when the news says its bad they believe it. When students take classes in economics they open there mind to new world, a world where they can open there minds to new possibilities. These teachings allow people or student to make smarter choices about there future and be able to understand what is going on in the economy around them today.
Caitlin Davis
Period 6
I completely agree with Professor Mankiw that everyone should learn more about economics and statistics and things like that because eventually everyone is going to have to deal with finances and the economy on their own. The main thing that stood out to me was when he said everyone should look at the way other people deal with the economy and take notes, but to always follow your gut instinct. I think this is good advice because what may have worked for one person won't always work for everyone.
Professor Manikw is right about learning some pschology. Learning psychology and the way people work will help out in predicting trends and what people will likely do in the future
Ryan Igbinoba
Period 4
I found this article very fascinating and intriguing. I liked how he talked about high school mathematics and said how they are important but aren't used much in life on a regular basis. Classes like economics, psychology, and statistics are important because they teach us important aspect of life and how to be a productive member of society. I also found it interesting that he said to listen and head to advice but in the end make your own path because after all you are the only one to determine your future.
Steve Philip
6th Period
I feel that Professor Mankiw's advice was very helpful and the article was interesting. His suggestions to learn more about topics such as economics, statistics, finance, and psychology prove to be beneficial to learning the general foundation of the modern economy. The combinations of developing analytic skills (economics), having a better understanding of data (statistics), learning the fundamentals of financial decision making (finances), as well as understanding human rationality (psychology), are all components/factors that will be important in any study of economics moving forward.
Joshua Roy
2nd Period
The article had some interesting points, it was well written and relate able. I thought what he said about learning economics not to be fooled by economists brought up a decent point. Ignorance can be costly, this point came up more than once in the article, and its important to know what your doing to do be able to make the right decisions.
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