Time Wasting

Usually I don't mind review. Okay, that's a lie, but usually I can get over it without being too frustrated, but class last night really tested this.

One of the cool things about microeconomics is that while you have two sides of markets - producers and consumers - looking at how they consume and produce is remarkably similar. Utility and production have many of the same properties, and both are subject to budget constraints. What this means in terms of learning about it is that once you have consumer theory down, it's a very small leap to get to producer theory. Ideally, you shouldn't have to spend much time going over producer theory, except to point out where words are different, and to point out a few things with costs (you don't really look at the average cost of utility like you do the average cost of production).

Unfortunately, this didn't happen. Instead of quickly going over producer theory and moving on to something a little more interesting, we spent just as much time going over producer theory as we did consumer theory. I really can't figure out the need to do this. I mean, once you've talked about minimizing cost in one setting, you've talked about it in the other.

What's more, all of us have gone over it before in previous economic classes (it really doesn't change that much from one level of theory to another - you just get to go a little deeper). Oh well, I guess it just means that I won't have trouble keeping up with the material. At least the homework he gives us is interesting to do - I have that to look forward to.