Professor Stenard + Study = Economic Insight

Do as I say and live a good life.


Weekend Homework

Posted by Joe Stenard on February 6, 2010 at 7:15 PM

February 6, 2010

Even the professor has work to do over the weekend.  I am creating this website, preparing something special for my students, customizing the exam to reflect the most recent student presentations, grading papers and writing papers.  

I am reminded of the economic principle of cost/benefit analysis: I perceive a high benefit for all concerned (a win-win situation) but also a large up front cost (in the terms of time consumed and opportunity cost).  There are many different ways I might benefit from another use of my resources but I am willing to take on a high, short-run cost in exchange for a good chance for a recurring high, long-run benefit. Thus, the evidence of my decision is before your eyes.

I hope my students will maximize all of their resources - especially their hours, days and years.  Perhaps they will consider their costs and benefits more often because of our discussions.

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