Well, today started with the leadership module session for us to give feedback of term two to our work group and receive feedback from the work group. It was a good start of the day, talking about things we liked about each other, things we would our friends to improve on, and so on.
Then came the Business, Government and Society Class. Our professor for the class - Jeffrey Timmons started the session by telling us about himself and the course structure in general. And then, he took a poll on how many people like successful businesses and businessmen and how many like successful politicians. Obviously, the hands raised for second question were much lesser than for the first question.
And then began a series of questions, triggering a discussion around what makes business successful, what is it that we like about businesses and what we don't like about them and Jef established a correlation of all these things with politics and illustrated to us, how both are similar in so many aspects.
Discussion then built into economics and free markets and invisible hand and role of government.
He concluded the class by stating briefly how government is required for a market to work properly. IN absence of government, there are ways to ensure free market, but these measures ultimately cause efficiency losses.
Interesting class, with a very engaging discussion on various aspects. I know I am going to enjoy this class.
As BGS class ran a little over time, Carlos was already in the class. He saw the slides for BGS while Jef was closing them and during discussions in the class, he actually referred to that last slide on which Jef left us, and explained the concept he was talking about in terms of example that we studied in the previous class. That reference he made of something which is not his subject and not his slide was really impressive.
Today's class also had some of the slides with movie characters and quotes used to refer to basic concepts of finance. We had clickers distributed in the class and Carlos made a good use of these clickers to illustrate before us how bias of market participants don't cancel each other as put forth by some economists, but goes on adding to each other. He also related this to why we need to work with intrinsic value approach to find value of our investment, rather than going for market based approach - because true equilibrium doesn't really exist in the market.
One quote said by him, when he was explaining the different aspects of balance sheet, which I liked the most today was "Cash is the only fact. Income is an Opinion. And the future cash flow is also an Opinion."
Gave me a better perspective of things.
After classes today, I worked on a job application, and then after finishing readings for tomorrow, worked on my fellowship related paper, which has received some review comments.
A good beginning of this week and with classes for some of other subjects also starting in couple of days, I am hoping this week will be interesting one.
Then came the Business, Government and Society Class. Our professor for the class - Jeffrey Timmons started the session by telling us about himself and the course structure in general. And then, he took a poll on how many people like successful businesses and businessmen and how many like successful politicians. Obviously, the hands raised for second question were much lesser than for the first question.
And then began a series of questions, triggering a discussion around what makes business successful, what is it that we like about businesses and what we don't like about them and Jef established a correlation of all these things with politics and illustrated to us, how both are similar in so many aspects.
Discussion then built into economics and free markets and invisible hand and role of government.
He concluded the class by stating briefly how government is required for a market to work properly. IN absence of government, there are ways to ensure free market, but these measures ultimately cause efficiency losses.
Interesting class, with a very engaging discussion on various aspects. I know I am going to enjoy this class.
As BGS class ran a little over time, Carlos was already in the class. He saw the slides for BGS while Jef was closing them and during discussions in the class, he actually referred to that last slide on which Jef left us, and explained the concept he was talking about in terms of example that we studied in the previous class. That reference he made of something which is not his subject and not his slide was really impressive.
Today's class also had some of the slides with movie characters and quotes used to refer to basic concepts of finance. We had clickers distributed in the class and Carlos made a good use of these clickers to illustrate before us how bias of market participants don't cancel each other as put forth by some economists, but goes on adding to each other. He also related this to why we need to work with intrinsic value approach to find value of our investment, rather than going for market based approach - because true equilibrium doesn't really exist in the market.
One quote said by him, when he was explaining the different aspects of balance sheet, which I liked the most today was "Cash is the only fact. Income is an Opinion. And the future cash flow is also an Opinion."
Gave me a better perspective of things.
After classes today, I worked on a job application, and then after finishing readings for tomorrow, worked on my fellowship related paper, which has received some review comments.
A good beginning of this week and with classes for some of other subjects also starting in couple of days, I am hoping this week will be interesting one.
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