http://www.economist.com/news/21567079-meet-economists-who-are-making-markets-work-better-micro-stars-macro-effects
Using some good examples, this article shows how economists around the world are using their knowledge, experience and thinkings everyday to helps their firms, or in a broader sense, the economy as a whole. The examples are varied, ranging from how Mr. McAfee used his experience at his previous company Yahoo to solve the same bandwidth problem his current company Microsoftwas was facing; to how Susan Athey of Microsoft utilized her economic knowledge to make both internet advertisers and users better off in a seemingly unavoidable trade-off between the two.
These examples are convincing not because they were all from well-known companies and individuals, they were also rationalized well. This article really helps me understand the role of an Economist better, and how economy theories can be applied to great effects.
I was able to gain some valuable insights from how these economists act in the corporate world. These insights are important and interesting to me because I will be entering the corporate world next year.
ReplyDeleteIt's nice to get some "real world" applications of what we are learning everyday in our classes. Sometimes it is difficult to equate what we learn in class and try and apply it to the real world so this article helped me fill some empty voids about what I could potentially be getting myself into.
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