This is a guest post by David R. Cohen. David is the Director of Technology Research at the U.S. Chamber of Commerce and a Professor of Economics at the University of California – Berkeley. He is also the author of numerous books, including “The Essential Economics of Competition,” “The Essential Economics of Business,” and “The Essential Economics of Competition and Innovation”.
Economists are generally very good at explaining things, and are often the first people to get things done.
It is possible to have a lot of work to do in economics. In fact, it is possible to have a whole lot of work to do in economics without really knowing how to do that work. This becomes particularly important in the business world, where economics often plays a key role in setting the direction for every aspect of our lives. We can use the principles of economics to help us identify opportunities and avoid pitfalls when it comes to our business decisions.
Economics is one of those disciplines that many people assume they need to know to make successful business decisions. If you’re like me and a little nervous about the prospect of learning to do this without a textbook, you might want to think twice. The reality is if you want to start thinking about business, it’s worth learning a few things about the fundamentals of economics before you start.
Like many others, I’m always on the lookout for information that will help me determine which venture or company will be successful. For most of my life, I’ve been told that I’m more of a numbers guy, that it’s only good to have a firm grasp of how your numbers add up. But in reality, it’s really just good to have a firm grasp of where your money is going, and how to make the most of it. But it’s not just a numbers game.
The problem is that a lot of information is out there on the web that is pretty useless. But being a good math person is one thing, but its also important to make sure you are getting the most out of it. Thats why I spend a good hour a day reading the business, economics, and management journals of reputable institutes.
I don’t know if that is the best use of my time, but I find myself in the office at the University of St. Thomas every day, and every day I read the business and economics journals of the best institutes around the globe. I’m not sure how much of it makes any difference to me, but this is a lot of books that are sitting on my bookshelf.
The more you read about business, economics, and management, the more you learn. And the more you learn, the more you realize you don’t know anything. So, take advantage of what youve got. I find this to be the best way to learn.
When I first started in my field, I was so intimidated by math, I did not even want to read it. I thought it was too complicated. To me, math is more about the numbers and the equations that you get as the result of your work, the numbers that make the concepts clear. Reading about math is not the same as understanding it. Reading something you dont understand, you probably wont understand.
It’s true that you can read the mathematical equations of your choice and get an idea on what your numbers mean, but you can take that idea and make a business out of it. Instead of writing down the equations that you’ve learned, why not use the business logic behind them? I think it’s not only a way for people to understand the math, it helps them make the connections with their decisions.