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EVE turned me into an Econ major.

Author
Thouncy
Perkone
Caldari State
#1 - 2015-12-15 20:18:47 UTC  |  Edited by: Thouncy
Prior to college, maybe my freshman year of highschool (2009-10ish) I got into EVE, had an on and off relationship with it for a few years, always fascinated by the trading aspect of the game. Being in my Sophomore year of college and already in a program to recieve my masters degree a year after my bachelors, I'd like to thank you fucks in market discussion for getting me obsessed with economics. Just clicked in my mind that this was probably what set the desire to major in this.
Darkstar01
Doomheim
#2 - 2015-12-15 22:02:02 UTC  |  Edited by: Darkstar01
Thouncy wrote:
Prior to college, maybe my freshman year of highschool (2009-10ish) I got into EVE, had an on and off relationship with it for a few years, always fascinated by the trading aspect of the game. Being in my Sophomore year of college and already in a program to recieve my masters degree a year after my bachelors, I'd like to thank you fucks in market discussion for getting me obsessed with economics. Just clicked in my mind that this was probably what set the desire to major in this.


I graduated with a B.S. degree in Economics. In my opinion the only thing you learn is how to BS.

Also, straight out of my Economics professor's mouth (who went to Harvard), he said to a classroom of 100+ people that the main reason why we go to college is to learn how to bullshit.

So unless if you want to be an Economist and work in academic related field, most of the stuff you learn are just theoretical, useless, and don't apply to real life.

In Economics, you would often solve silly problems using silly mathematics where they use the symbol "Pi" for Profit........ by the way Pi does not mean profit, Pi means 3.14159 and that's real math.

I suggest studying something more practical and useful in everyday life: i.e. programming / engineering / medicine / law / accounting.

I regret wasting my time getting an Economics degree, and the only reason I did so was because my mother (who only has a high school degree), thought it would be a useful major, and would not pay for my tuition unless I major in something that she agrees on.

And if you are interested in investing and the stock market, an Accounting degree, or Law degree focused on Securities Law, is much more helpful. Economics is useless here.
Dethmourne Silvermane
Oasis United
#3 - 2015-12-15 22:23:49 UTC
You're welcome.

Interested Party (TM)

Thouncy
Perkone
Caldari State
#4 - 2015-12-15 22:35:03 UTC
Darkstar01 wrote:
Thouncy wrote:
Prior to college, maybe my freshman year of highschool (2009-10ish) I got into EVE, had an on and off relationship with it for a few years, always fascinated by the trading aspect of the game. Being in my Sophomore year of college and already in a program to recieve my masters degree a year after my bachelors, I'd like to thank you fucks in market discussion for getting me obsessed with economics. Just clicked in my mind that this was probably what set the desire to major in this.


I graduated with a B.S. degree in Economics. In my opinion the only thing you learn is how to BS.

Also, straight out of my Economics professor's mouth (who went to Harvard), he said to a classroom of 100+ people that the main reason why we go to college is to learn how to bullshit.

So unless if you want to be an Economist and work in academic related field, most of the stuff you learn are just theoretical, useless, and don't apply to real life.

In Economics, you would often solve silly problems using silly mathematics where they use the symbol "Pi" for Profit........ by the way Pi does not mean profit, Pi means 3.14159 and that's real math.

I suggest studying something more practical and useful in everyday life: i.e. programming / engineering / medicine / law / accounting.

I regret wasting my time getting an Economics degree, and the only reason I did so was because my mother (who only has a high school degree), thought it would be a useful major, and would not pay for my tuition unless I major in something that she agrees on.


The degree (and masters) are meant to get me into law school after I'm done with them, so no worries there. I enjoy the field and the way you characterize it is extremely wrong, economics does have an established understanding about how economies work. But regardless thanks for the warning but I'm happy where I'm at.
Buzz Orti
State War Academy
Caldari State
#5 - 2015-12-19 19:10:35 UTC
Thouncy wrote:
Darkstar01 wrote:
Thouncy wrote:
Prior to college, maybe my freshman year of highschool (2009-10ish) I got into EVE, had an on and off relationship with it for a few years, always fascinated by the trading aspect of the game. Being in my Sophomore year of college and already in a program to recieve my masters degree a year after my bachelors, I'd like to thank you fucks in market discussion for getting me obsessed with economics. Just clicked in my mind that this was probably what set the desire to major in this.


I graduated with a B.S. degree in Economics. In my opinion the only thing you learn is how to BS.

Also, straight out of my Economics professor's mouth (who went to Harvard), he said to a classroom of 100+ people that the main reason why we go to college is to learn how to bullshit.

So unless if you want to be an Economist and work in academic related field, most of the stuff you learn are just theoretical, useless, and don't apply to real life.

In Economics, you would often solve silly problems using silly mathematics where they use the symbol "Pi" for Profit........ by the way Pi does not mean profit, Pi means 3.14159 and that's real math.

I suggest studying something more practical and useful in everyday life: i.e. programming / engineering / medicine / law / accounting.

I regret wasting my time getting an Economics degree, and the only reason I did so was because my mother (who only has a high school degree), thought it would be a useful major, and would not pay for my tuition unless I major in something that she agrees on.


The degree (and masters) are meant to get me into law school after I'm done with them, so no worries there. I enjoy the field and the way you characterize it is extremely wrong, economics does have an established understanding about how economies work. But regardless thanks for the warning but I'm happy where I'm at.

I received a Diploma in Computer Programming and Systems Analysis with Honours in 1992.
It wasn't oriented in economics much, but it was a business oriented, and even related course.

I plan to go to law school now , but my diploma (not degree) will not get me into law school.
Mind you, that is a law school for international court, not international law in relation to some country.

Builds ship in empty Quafe bottle.

Teckos Pech
Hogyoku
Goonswarm Federation
#6 - 2015-12-20 02:08:39 UTC  |  Edited by: Teckos Pech
Darkstar01 wrote:
Thouncy wrote:
Prior to college, maybe my freshman year of highschool (2009-10ish) I got into EVE, had an on and off relationship with it for a few years, always fascinated by the trading aspect of the game. Being in my Sophomore year of college and already in a program to recieve my masters degree a year after my bachelors, I'd like to thank you fucks in market discussion for getting me obsessed with economics. Just clicked in my mind that this was probably what set the desire to major in this.


I graduated with a B.S. degree in Economics. In my opinion the only thing you learn is how to BS.

Also, straight out of my Economics professor's mouth (who went to Harvard), he said to a classroom of 100+ people that the main reason why we go to college is to learn how to bullshit.

So unless if you want to be an Economist and work in academic related field, most of the stuff you learn are just theoretical, useless, and don't apply to real life.

In Economics, you would often solve silly problems using silly mathematics where they use the symbol "Pi" for Profit........ by the way Pi does not mean profit, Pi means 3.14159 and that's real math.

I suggest studying something more practical and useful in everyday life: i.e. programming / engineering / medicine / law / accounting.

I regret wasting my time getting an Economics degree, and the only reason I did so was because my mother (who only has a high school degree), thought it would be a useful major, and would not pay for my tuition unless I major in something that she agrees on.

And if you are interested in investing and the stock market, an Accounting degree, or Law degree focused on Securities Law, is much more helpful. Economics is useless here.


π is also a greek letter. In that regard it can be used to represent a wide variety of things, just as 'x' is often used to represent a wide variety of things in algebra and calculus. Further, economists use π because profits are usually represented as,

p*y - c(y),

where p is price, y is the output, and c(y) are costs. So, p is already taken, so they use the Greek version of 'p' for profits.

The capital version is also used in mathematics similar like the capital version sigma, Σ. Capital sigma is used for summation, the capital version of pi is used for sequential multiplication.

So much for your understanding of "real math".

As for the usefulness of an economics degree it depends on where you end up working. My last job and my current job it is very helpful. My last job was for the government working in a research division on price index numbers, and currently for a regulated utility. Concepts like marginal costs are discussed routinely. I wouldn't recommend it though if you were just going to get a bachelors degree and stop there. However, if you are going to get a bachelors, take the mathematical and statistical based courses. They'll give you good problem solving skills and really help your ability to reason.

Oh, and generally speaking, going to college isn't really about learning something useful, but as a signal that you can get **** done. That you are reasonably responsible and capable of doing work while not being constantly baby sat (like in high school).

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Dextrome Thorphan
#7 - 2015-12-20 10:01:51 UTC  |  Edited by: Dextrome Thorphan
Darkstar01 wrote:
Thouncy wrote:
Prior to college, maybe my freshman year of highschool (2009-10ish) I got into EVE, had an on and off relationship with it for a few years, always fascinated by the trading aspect of the game. Being in my Sophomore year of college and already in a program to recieve my masters degree a year after my bachelors, I'd like to thank you fucks in market discussion for getting me obsessed with economics. Just clicked in my mind that this was probably what set the desire to major in this.


I graduated with a B.S. degree in Economics. In my opinion the only thing you learn is how to BS.


Indeed, those degrees are total BS!

edit: But then again, most degrees are (and most teachers are quite dumb, otherwise they'd be doing what they're teaching and not teaching it). And unfortunately you do get judged on your degree when applying for a job, not your skills...
Teckos Pech
Hogyoku
Goonswarm Federation
#8 - 2015-12-20 18:50:10 UTC
Dextrome Thorphan wrote:
Darkstar01 wrote:
Thouncy wrote:
Prior to college, maybe my freshman year of highschool (2009-10ish) I got into EVE, had an on and off relationship with it for a few years, always fascinated by the trading aspect of the game. Being in my Sophomore year of college and already in a program to recieve my masters degree a year after my bachelors, I'd like to thank you fucks in market discussion for getting me obsessed with economics. Just clicked in my mind that this was probably what set the desire to major in this.


I graduated with a B.S. degree in Economics. In my opinion the only thing you learn is how to BS.


Indeed, those degrees are total BS!

edit: But then again, most degrees are (and most teachers are quite dumb, otherwise they'd be doing what they're teaching and not teaching it). And unfortunately you do get judged on your degree when applying for a job, not your skills...


Of course some degrees are percieved as hard and others less hard. A guy with a degree in mathematics or chemistry will send a different signal than a guy with a degree in Chicano studies.

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Dextrome Thorphan
#9 - 2015-12-21 15:42:39 UTC
Teckos Pech wrote:
Of course some degrees are percieved as hard and others less hard. A guy with a degree in mathematics or chemistry will send a different signal than a guy with a degree in Chicano studies.


LOL... good point. But that really is just an American thing; study fields that are utterly meaningless. I mean Chicano studies? Wtf? xD That really is extremely specific. You can't get a degree for stuff like that around here.
Dextrome Thorphan
#10 - 2015-12-21 16:00:12 UTC  |  Edited by: Dextrome Thorphan
Teckos Pech wrote:
[quote=Darkstar01][quote=Thouncy]Oh, and generally speaking, going to college isn't really about learning something useful, but as a signal that you can get **** done. That you are reasonably responsible and capable of doing work while not being constantly baby sat (like in high school).


True that... though it's still pretty ******** imo. Wasting **** loads of money "learning" stuff you already know... just to get that stupid meaningless degree. Extremely demotivating. Because you dont actually have to be good at what you do, or have skills, or insight or intellect in order to pass. You just have to memorize what they tell you to memorize and copy paste that on your exam form. In most cases anyway...

Even worse, a teacher once gave me a 0 on my oral exam because I didn't atttend his classes... never mind that I could answer all his questions correctly, nope, just a zero.

Oh well, kind of just venting now lol - all I ever got out of college are bad memories.
Teckos Pech
Hogyoku
Goonswarm Federation
#11 - 2015-12-21 16:39:34 UTC
Dextrome Thorphan wrote:
Teckos Pech wrote:
[quote=Darkstar01][quote=Thouncy]Oh, and generally speaking, going to college isn't really about learning something useful, but as a signal that you can get **** done. That you are reasonably responsible and capable of doing work while not being constantly baby sat (like in high school).


True that... though it's still pretty ******** imo. Wasting **** loads of money "learning" stuff you already know... just to get that stupid meaningless degree. Extremely demotivating. Because you dont actually have to be good at what you do, or have skills, or insight or intellect in order to pass. You just have to memorize what they tell you to memorize and copy paste that on your exam form. In most cases anyway...

Even worse, a teacher once gave me a 0 on my oral exam because I didn't atttend his classes... never mind that I could answer all his questions correctly, nope, just a zero.

Oh well, kind of just venting now lol - all I ever got out of college are bad memories.


That is Bryan Caplan's position as well. That we spend way too many resources on going to college or trying to go to college to get the increase in pay that goes along with it.

And to make matters worse the social engineering here in U.S. in that last few decades has been along the lines of:

1. People who go to college earn more.
2. Lets get more people in college so they can earn more.
3. Student loan programs.
4. Quite a few more people going to college.
5. Not very many new colleges forming.
6. Tuition goes up.

So you get more college graduates....which leads to lower pay for college graduates, many have high student loan debt, and ta-da a bachelors degree has become the new HS degree. So go rack up more debt getting a masters degree to further attempt to differentiate yourself.

Bottom line, beware of perverse incentives.

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."--Friedrich August von Hayek

8 Golden Rules for EVE Online

Buzz Orti
State War Academy
Caldari State
#12 - 2015-12-21 23:46:23 UTC
My course was around $7,000 in 1992 (May), ending in 1992 (October) + 2 weeks after.

I got a student loan and grant after which all grants in the province were cancelled for over 10 years.

There are other BS related like, the grant was never issued properly , and bureaucrat pocketed the funds and hid the contract details of amounts.

That is only about 5% of the total BS going on.


I further had a $10,000 scholarship 2 years before in 1990, for which I opted to get a $5,000 worth part-time course in computer programming without systems analysis (full-time only).


2nd:
I will list the business equations that are in my computer fundamentals book, but most are more simple than the Microsoft Excel ones.

Of course, there are other business calculations from the system books, which are more intricate.

One of those was the ROI or Return On Investment, which is a calculation of profit over-time , including the depreciation of money.
It is in relation to the investment cost, set in a yearly frame, most of the time, and compared to the potential actual profit derived in fact from the project.
This in turn can be compared to the current system, without upgrade, which may provide more short term profit, but at the cost of long-term short falling (or shortcoming).

Builds ship in empty Quafe bottle.

TheSmokingHertog
Julia's Interstellar Trade Emperium
#13 - 2015-12-22 18:12:46 UTC
As somone with an Economics study, I love all the BS. Especially the BS others utter about how I should succeed, then ending up not succeeding that way. Stil going steady over here :D.

"Dogma is kind of like quantum physics, observing the dogma state will change it." ~ CCP Prism X

"Schrödinger's Missile. I dig it." ~ Makari Aeron

-= "Brain in a Box on Singularity" - April 2015 =-

Mr Abelardo
Doomheim
#14 - 2015-12-22 18:35:28 UTC
Be a Physicist
Buzz Orti
State War Academy
Caldari State
#15 - 2015-12-23 00:34:33 UTC
TheSmokingHertog wrote:
As somone with an Economics study, I love all the BS. Especially the BS others utter about how I should succeed, then ending up not succeeding that way. Stil going steady over here :D.

Nothing better than an idiot to beat 2 idiots.

Builds ship in empty Quafe bottle.

Vaerah Vahrokha
Vahrokh Consulting
#16 - 2015-12-24 19:34:52 UTC
I had no economy nor market knowledge at ALL before playing EvE. Even less papers.

Nowadays I live in the financial industry thanks to what I have learned here. EvE will always sit in a warm spot in my heart!
Darkstar01
Doomheim
#17 - 2015-12-24 20:23:43 UTC  |  Edited by: Darkstar01
Vaerah Vahrokha wrote:
I had no economy nor market knowledge at ALL before playing EvE. Even less papers.

Nowadays I live in the financial industry thanks to what I have learned here. EvE will always sit in a warm spot in my heart!


Same here, the "Market Window" of Eve Online taught me more about the market and economics, than getting an Econ degree in university ever did..... lol.

The commodities market in real life is pretty similar to Eve Online, except real life is a billion times faster and bigger.

Something that takes 10 days in the Eve Online market, would only take milliseconds in real life.
Caleb Ayrania
TarNec
Invisible Exchequer
#18 - 2015-12-27 11:06:08 UTC
My first experience in EVE that made me engaged was opening the market window.. Having buy AND sell orders was, and still is so novel in games.

It inspirered me to go into banking and financial management, but I found the real life "climate" a bit too boiler room, and not enough "academics", so I shifted after 3-4 years. It did make me appreciate EVE even more, and also make me a bit frustrated at a few missing features and "design flaws".. :)

Buzz Orti
State War Academy
Caldari State
#19 - 2015-12-29 19:44:17 UTC
Teckos Pech wrote:
Darkstar01 wrote:
...
I suggest studying something more practical and useful in everyday life: i.e. programming / engineering / medicine / law / accounting.
...
And if you are interested in investing and the stock market, an Accounting degree, or Law degree focused on Securities Law, is much more helpful. Economics is useless here.


π is also a greek letter. In that regard it can be used to represent a wide variety of things, just as 'x' is often used to represent a wide variety of things in algebra and calculus. Further, economists use π because profits are usually represented as,

p*y - c(y),

where p is price, y is the output, and c(y) are costs. So, p is already taken, so they use the Greek version of 'p' for profits.

The capital version is also used in mathematics similar like the capital version sigma, Σ. Capital sigma is used for summation, the capital version of pi is used for sequential multiplication.

So much for your understanding of "real math".

As for the usefulness of an economics degree it depends on where you end up working. My last job and my current job it is very helpful. My last job was for the government working in a research division on price index numbers, and currently for a regulated utility. Concepts like marginal costs are discussed routinely. I wouldn't recommend it though if you were just going to get a bachelors degree and stop there. However, if you are going to get a bachelors, take the mathematical and statistical based courses. They'll give you good problem solving skills and really help your ability to reason.

Oh, and generally speaking, going to college isn't really about learning something useful, but as a signal that you can get **** done. That you are reasonably responsible and capable of doing work while not being constantly baby sat (like in high school).

Classical studies aside, I plan to invest in stocks and be trading day-to-day in securities and other.
I incorporated shortly after graduating due to the social conditions.

Problem
Solving and
Programming
Concepts


Appendix A
_ - _ - _
Formulas Commonly Used in
Business Applications


Figure A.1Commonly Used Business Equations

1. Interest (A)
A = Amount of Principal + Interest

2. Commission (C)

3. Discount Price (D)

4. Mark-up Price (C)

5. Percent of a sum (%)

6. Economic Order Quantity (E)

7. Straight-Line Depreciation (D)

8. Break-Even Analysis (B)

9. Spreadsheet Function
Present Value (PV)

Figure A.1continued
10. Spreadsheet Function
Future Value (FV)

11. Spreadsheet Function
Net Present Value (NPV)

12. Spreadsheet Function
Internal Rate of Return (IRR)

13. Average (a)

14. Spreadsheet Function
Payment (P)

15. Equation : P = N / S
Explanation : Profit Margin (P)
- - - - N = Net profit after tax
- - - - S = Sales


16. Return on Assets (ROA)

17. Current Ratio (R)

18. Average Collection Period (C)

Builds ship in empty Quafe bottle.

Buzz Orti
State War Academy
Caldari State
#20 - 2015-12-31 03:46:25 UTC
All values or equations (except 15.) have explanations as well as the algebraic notation for the arithmetical procedure.

I am still working on updating it.

Builds ship in empty Quafe bottle.

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