Goods and Services.

A little gem of a conversation from my Intro to Economics discussion group.

Yo: "So we get utility, or satisfaction, from goods and services. Who can give me an example of a service?"
Girl in 3rd Row: "Prostitution!"
Yo: "Uhm... yes. A very old service. Who can give me a LEGAL example?"
Girl in 3rd Row: "It's legal in Nevada."
Yo: "Fair enough. Who can give me an example of a good?"
Girl in 3rd Row: "Chocolate!"
Yo: "This is going to be one of THOSE classes isn't it?"

This of course posed a problem for me because I was hoping to develop step by step the "forms of utility" for both a good and a service: elementary (raw good gives utility just as iteslf: i.e. cocoa bean), form (put through production adds to the utility: i.e. Hershey bar), place (shipping of the good, but also location it is consumed in), time (the actual time you consume the good or service can vary the utility), possession (the actual exchange of the good for money leads to higher utility as well: the satisfaction of owning something).
That is really easy for chocolate. Not so much for the other example I was given. Skipped that one.

Best part of my day: Using the South Park episode "Cartmanland" to explain the flaws of the barter system, specialization in economics, costs and benefits, and I can use it for a few other things too, later on.

By the way: the winners of the "best test questions" for our principles of micro class last semester are now in.

Third place:
"How can the gov. improve market outcomes?" By printing too much money.
(one of my students). 0 points.

Second:
"What is the free rider problem?" Hippies gather and slowly form jam festivals.
(one of my students). +4 points.

FIRST PLACE, a surprise win that came from the final exam:
"What is predatory pricing?" My father was killed by predatory pricing... I don't want to talk about it.
(one of my colleague's students). +3 points.

Kolchak is on Netflix

I'm back in the saddle here at the department. I've already set up a course web page, reviewed the first chapters in each of my classrooms, cleaned my desk, loaned last semester teaching notes to friends, drove a colleague to the airport, cleaned the living room and kitchen, done laundry, dishes, and played with my new toy (water purifier... fuuuuuun).

In between that, I found out Kolchak is on Netflix direct. Nothing like cheesy 70's sci-fi mystery to end a long day. Amazing how similar these episodes are to the first few seasons of the X-Files though. It's like Mulder evolved from the dad in "A Christmas Story." Still waiting for the "leg lamp" episode.

Had a great time with la Ardilla and her family over Christmas. I'm glad they were able to come up to visit us in NM before New Years. I'm very glad her family is willing to put up with me for long periods of time :P. I get to visit her in a couple months though when we get a break. Her siblings seemed to enjoy skiing. I'll have to convince her that the mountain isn't really that scary at the top. It was hard enough getting her up just halfway though...

We're all currently trying to plan a May "family reunion". Scheduling is just so much fun. Stress always comes up with peoples' schedules and limitations. But its good to know we can all get together at some point and see each other, even the conditions aren't our own personal preference. But we seem to have dates now. We just need stuff to do.

Back to work then.