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Xenonight2 · 03-14-2009, 03:21 AM

Quote:

Originally Posted by Espada1

Why is the economy so bad? I thought oil prices were going down...

Ever heard of supply and demand?

When oil prices go down, it means the demand for oil goes down, and the demand for oil goes down, it means that less people are using oil. That means less goods are being made and less goods are being moved (since transportation requires fuel, most of which use oil-products for fuel), which in turn means less goods are being bought.

In other words: cheaper oil, less stuff done with oil, and since we're an oil-addicted country, not a lot of stuff can't get done without oil.

No, oil prices going up is a good thing right now.

TheHol[]yTape · 03-14-2009, 03:26 AM

Quote:

Originally Posted by IronyTaken

With the current economic situation alot of things have changed. We all know big businesses have gone bankrupt or closed their stores. People are losing their jobs left and right. Eveyone is spending less. House prices are cheap and some places like detriot even sell for around 20 grand. Good for buyers bad for owners.

Now with all this bad shit happening you think it couldn't get worse.

Well murphy's law strikes again.

I still am finishing up classes in Sac state university and have heard talk of it all over. Basically the talk is that the tuition fees for Univeristies and colleges will double by next year.

Now you may be thinking what!? (and yes it isn't just happening in my state)

Yes even with this economic crisis of barely making ends meet you have another thing to deal with. Alot of people who were layed off are trying to go back to school to get a higher education so they have better qualifications for a job.

Now they are saying that tuition fees will double and they will limit the amount of admissions accepted. This means the people suffering the most from this economy will suffer even more. Even the average kid trying to get a higher education to get a good job might be turned away or not be able to afford it.

Now I pay only around 7,000 USD a year for my tuition but if that were to double or go up by even 50% it will make it alot harder to pay off. Yes there are scholarships and grants but not everyone can get one. And the fact that there is a higher chance you may not be accept at all adds to it.

When the economy is in such bad shape most people are trying to find a job and without the proper education they won't get much. So they are basically stuck.

Now I am unsure what the fees are for university but for most jr colleges I know they will go from 20 USD a unit to 40 USD a unit.

Just wondering what is everyone's thought on this topic. Will it affect you?
why? or why not?

As if it isn't hard enough right now. I got acceptances into many good universities but alot of them are preety expensive and limiting my options

I really ****ing hate this current economic situation and it has to happen during my senior year when I apply to colleges

F MY LIFE

Leviarel · 03-14-2009, 03:30 AM

Quote:

Originally Posted by Xenonight2

Ever heard of supply and demand?

When oil prices go down, it means the demand for oil goes down, and the demand for oil goes down, it means that less people are using oil. That means less goods are being made and less goods are being moved (since transportation requires fuel, most of which use oil-products for fuel), which in turn means less goods are being bought.

In other words: cheaper oil, less stuff done with oil, and since we're an oil-addicted country, not a lot of stuff can't get done without oil.

No, oil prices going up is a good thing right now.

If you've studied supply and demand abit more in-depth, you'd realise that you're basing your concepts purely on ceteris paribus, being other variables are held at constant.

You may link and apply to real life examples, but you're doing it the wrong way, even if you're trying to let him understand a little of what all of us are going through.

It's a wrong approach, and the fundamentals of evaluating sources are still not within your grasp because we have to consider all the external factors, e.g. economical crisis, stimulus package, banking (interest rate), GDP, GNP, etc.

So, we're calling it "Aggregate Demand and Supply", because we are all going the look at things as a whole.

Quote:

Originally Posted by TheHol[]yTape

As if it isn't hard enough right now. I got acceptances into many good universities but alot of them are preety expensive and limiting my options

I really ****ing hate this current economic situation and it has to happen during my senior year when I apply to colleges

F MY LIFE

That's why countries around the world are brainstorming ideas and more ideas to help people like you over the high tides.

No point getting so agitated over stuffs like this, just give it a few more years and it will be fine.

IronyTaken · 03-14-2009, 03:33 AM

well one thing is for sure.....

things aren't getting better.

And having higher oil prices doesn't always mean it is proportionate to the demand.

remember last year when gas prices were getting close to 5 usd/gallon?

Leviarel · 03-14-2009, 03:45 AM

Quote:

Originally Posted by IronyTaken

well one thing is for sure.....

things aren't getting better.

And having higher oil prices doesn't always mean it is proportionate to the demand.

remember last year when gas prices were getting close to 5 usd/gallon?

That's why in the Principles of Economics, we have something called, "Price Elasticity of Demand."

There are 5 types of price elasticities, and hence 5 different types of graphs, statistics, variables, and each will bring a change in the way you look at things.

In our case, oil is a necessity, and perhaps a normal good in many other parts of a world.

When oil is a necessity, even if prices go skyrocket high, people still demand for it because they need it for daily consumptions (vehicle, etc).

Hence, we say that oil is price inelastic - A given increase in price of oil will lead to a less than proportionate decrease in demand.

I believe the same goes for gas, but it differs from country to country, so I wouldn't want to comment much on it.

Then again, these are really simple concepts. Easy to understand and comprehend, fun stuffs too

IronyTaken · 03-14-2009, 04:03 AM

Quote:

Originally Posted by Leviarel

That's why in the Principles of Economics, we have something called, "Price Elasticity of Demand."

There are 5 types of price elasticities, and hence 5 different types of graphs, statistics, variables, and each will bring a change in the way you look at things.

In our case, oil is a necessity, and perhaps a normal good in many other parts of a world.

When oil is a necessity, even if prices go skyrocket high, people still demand for it because they need it for daily consumptions (vehicle, etc).

Hence, we say that oil is price inelastic - A given increase in price of oil will lead to a less than proportionate decrease in demand.

I believe the same goes for gas, but it differs from country to country, so I wouldn't want to comment much on it.

Then again, these are really simple concepts. Easy to understand and comprehend, fun stuffs too

Yes I am aware of that, which is why I said what I said.

Now if only we can find other sources of fuel. South America is lucky with their ethanol made by those plants that grow everywhere. Their plant has a good ratio of energy to cost. The study in america using corn hasn't been so successful.

And I believe America has to be one of the leading nations to come up with alternative full sources otherwise we might just lose our status which has been tarnished to enough. We don't really produce as much anymore the only thing we seem to be good at is buying things.

It's such a sad thing to see the out sourcing of many jobs in attempt to make an extra buck. They keep going from cheaper to even more cheaper countries.

There is even a address of companies businesses issued out of the country. You find that they put there mail box in the middle of a small island. And thousands of businesses have this same address. They do it all to avoid taxes.

MrWafflez · 03-14-2009, 04:38 AM

Quote:

Originally Posted by IronyTaken

in the the early 70's around the time my father was going to college it cost you around 50-54 bucks to pay for a full course.

Now do you think tuition fees are really following inflation?

I think not.

In the early 70's, did people come out of college getting a starting salary of $60,000+? No, probably not.

The economy has changed, and things will stay in proportion with it. A million dollars isn't what it used to be, which is why jobs pay more, education costs more, etc.

Here you go;

"Apples 59 cents for 4 pounds California 1970"
Today they are "$1.75 to $2.99 at a local supermarket" per pound.

That means it went from around 15 cents per pound to 250 cents per pound.

No way, the cost of apples since 1970 has gone up over 1600%! Are you going to make a thread about this outrage next?

Obviously over time the prices will go up, but not as drastically as you're complaining they'll be. Your school is poor and needs money, doesn't mean many other schools are that way, so don't assume they are.

Mordar · 03-14-2009, 04:45 AM

wait, everyone has to pay so much money on universities in the U.S?, how much do U.S citizens pay for education like medicine schools for example?

03-14-2009, 03:33 AM	#24 (permalink)
IronyTaken Banned Join Date: Jan 2009 Posts: 8,400 Reputation: 292	well one thing is for sure..... things aren't getting better. And having higher oil prices doesn't always mean it is proportionate to the demand. remember last year when gas prices were getting close to 5 usd/gallon? Last edited by IronyTaken; 03-14-2009 at 03:35 AM. Reason: -=Doublepost=-

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03-14-2009, 04:45 AM	#28 (permalink)
Mordar Chrono's Crony Join Date: Jul 2007 Posts: 3,310 Reputation: 38	wait, everyone has to pay so much money on universities in the U.S?, how much do U.S citizens pay for education like medicine schools for example?