Changing Behavior

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How You Can Make the Most of Your Summer Break

 Summer vacations are synonymous with lazy, boring afternoons. Once the excitement related to holidays wears off, the freedom turns into boredom as you have almost nothing to do. But a little planning can help you utilize the summer vacation as the starting point for your future education as well as career.

Through the points mentioned below, we explain in detail how you can make judicious use of the time you have gained during the vacation:-

Turn a hobby into passion

Find out an exact area which interests you and spend your time pursuing it. It may not have to do anything with studies. For instance, you have an interest in writing poetry, and then spend your time writing some. This will help you discover those aspects of your personality which haven’t got sufficient exposure so far. You can take part in theater activities, or attend a summer camp. Do anything that you have a passion for.

Get a summer job

Having a summer job will not just bring in some extra cash, but also ensure that you get useful exposure, as well as experience which will hold you in good stead in the future. The type of jobs which you may get may not be in formal positions. Consult your parents, teachers or school counselor to help you find the exact type of work which you are eligible for. This in turn will help you improve your networking skills, which is essential to survive and grow in the job market. You can take up work as a private tutor or work in a restaurant. The money you earn may be spent fast, but the know-how that you acquire will help you stay ahead of others in the job market.

Volunteer

You can volunteer for social welfare organizations like Red Cross or take the help of websites like www.volunteermatch.org to keep a track of the community welfare projects which are taking place in your neighborhood. This will not only help you to make good use of your free time, but also enhance your resume. A suitable alternative to the activities mentioned above is that you call up any local social welfare organization with a request to volunteer. This will in turn help to improve your communication as well as people management skills and help you to progress in life.

Travel

If you have a penchant for traveling, then you can plan a short holiday trip either with your family or friends.  Spending time away from home on an adventure trip will help you to get the much needed rest as well as relaxation. To make the vacation memorable, you can take some pictures so that you can cherish the memories in the years to come.

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This article was compiled by Classsof1's Economic Homework Help, one of the largest online study help providers for college homework in economics.

How You Can Make the Most of Your Summer Break

Summer vacations are synonymous with lazy, boring afternoons. Once the excitement related to holidays wears off, the freedom turns into boredom as you have almost nothing to do. But a little planning can help you utilize the summer vacation as the starting point for your future education as well as career.

Through the points mentioned below, we explain in detail how you can make judicious use of the time you have gained during the vacation:-

1.      Turn a hobby into passion

Find out an exact area which interests you and spend your time pursuing it. It may not have to do anything with studies. For instance, you have an interest in writing poetry, and then spend your time writing some. This will help you discover those aspects of your personality which haven’t got sufficient exposure so far. You can take part in theatre activities, or attend a summer camp. Do anything that you have a passion for.

2.                  Get a summer job

Having a summer job will not just bring in some extra cash, but also ensure that you get useful exposure, as well as experience which will hold you in good stead in the future. The type of jobs which you may get may not be in formal positions. Consult your parents, teachers or school counselor to help you find the exact type of work which you are eligible for. This in turn will help you improve your networking skills, which is essential to survive and grow in the job market. You can take up work as a private tutor or work in a restaurant. The money you earn may be spent fast, but the know-how that you acquire will help you stay ahead of others in the job market.

3.                  Volunteer

You can volunteer for social welfare organizations like Red Cross or take the help of websites like www.volunteermatch.org to keep a track of the community welfare projects which are taking place in your neighborhood. This will not only help you to make good use of your free time, but also enhance your resume. A suitable alternative to the activities mentioned above is that you call up any local social welfare organization with a request to volunteer. This will in turn help to improve your communication as well as people management skills and help you to progress in life.

4.                  Travel

If you have a penchant for travelling, then you can plan a short holiday trip either with your family or friends.  Spending time away from home on an adventure trip will help you to get the much needed rest as well as relaxation. To make the vacation memorable, you can take some pictures so that you can cherish the memories in the years to come.

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Evolution of Monetary Policy

What is a monetary policy?

Monetary policy can be simply defined as the process, by which the authority of the country manages the supply of the money, however by targeting a specific rate of interest which is done to maintain and promote economic prosperity. The official goals of this usually revolve around achieving stable prices and low unemployment across the region. With the help of the monetary economics, the country can draft the policy effectively. However, monetary policy is different to that of fiscal as fiscal refers to the government spending, associated borrowing and even taxation.

These policies can be of two types, usually expansionary or contractionary, while in the former the policy increases the total amount of the money in the country’s economy more rapidly, the latter expands more slowly or can even reduce it. The former expansionary policy is used to fight off unemployment issues by lowering the interest rates which comes with the prospect of enticing businesses to invest especially when they see the easy credit. On the other hand, the contractionary policy is aimed towards reduction of slow inflation that will avoid distortions and deterioration of other asset values.

Objectives

More often than not, the objectives of the monetary policy are similar to the plans that the country makes for its development and growth. Furthermore, with an effective policy, the country achieves growth, stability and even social justice. The following are some of the objectives of the policy:

Rapid growth and development of the economy.

Price stability

Exchange rate stability

Full employment

Balance of payments equilibrium

Equal distribution of income

Neutrality of the money

These are some of the general objectives that most central banks of the nation will try to achieve with the help of employing certain tools, also referred as the instruments of monetary policy.

Central bank independence

In the past decade, a trend was noticed which moved towards increasing the overall independence of the central banks especially in a way that will help in improving the overall economic performance. Great amounts of studies and economic research has been done to establish the relationship between independence and economic performance, however, the results are ambiguous. People advocating the central bank independence usually argue that doing this makes the bank more susceptible to political direction or pressure may encourage economic cycles. This occurs because the politicians usually are tempted to boost economic activity in advance of an election, however, this is greatly affects the health of the economy and the country. However, the independence then changes to the central banks operational duty and management independence especially from the government.

Conclusion

In this world struggling with inflation and price hikes, monetary policy plays an important role. However, the core objective of the policy remains regarding the attainment of stability of the prices and therefore the purchasing power of the country’s currency. The price stability is attained only when price rise is under 2% per year in the medium term.

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This article was compiled by Classof1.com. They are one of the largest online tutoring and homework help providers. They provide study help in over 60 subjects including Economics, Accounting, Statistics, Finance and Management.

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How to Save While You Spend as a College Student

Importance of saving money as a college student

College life is perhaps the most important phase of your life. In this period you have to learn new things, face the real world around you, enjoy while studying and most importantly balance everything in your life quite well. This is the most troublesome period because you have to balance all things at the same time. Moreover, after you finish your college, you have to look for jobs, which call for lots of patience. In most cases, students cannot crack their first few interviews and then they might get frustrated and moreover, might have to compromise with whatever job they get because they run short of funds.

If they have sufficient money saved with them they could easily support them till they get a job. Therefore, it is important to start saving from the college life itself. Furthermore, when they save money during their college life, they can enroll themselves to various courses for enhancing their skills and knowledge. Many students find it hard to keep body and soul during their college life due to excessive and unnecessary expenditures. Saving is a good habit to cut short such wasteful expenses. Saving money and being economical could help out when you're trying to save more to ensure that you have a smooth life in college, as well as when you take up a job after college.

How to save more when you are spending

It is perhaps the most difficult part in a college student’s life to cut short their expenses. However, with little effort they can achieve success in spending less and saving more. Firstly, they need to know the importance of saving and make it a mandatory thing to save at least a certain sum of money every month or week. A weekly target is better than daily or monthly targets because it is not always possible to achieve that target everyday because you might find it difficult to attain a target on daily basis as expenditures are likely to be variable. You can flexibly adjust your savings in a week which might not be easy for a month as at the end you might find too much pressure for saving at the month end.

Try to check if there are any offers or promotions happening before buying. Classof1's happy hours is a good example if you're looking to save when you get help with your economics homework.

Most college student’s maximum expenses are related to buying clothes, expenditures on technology and travel expenses. You can save from these areas if you make some judicious decisions.

Clothing discounts: It is common to buy clothes during festivals or some have the habit of buying clothes every now and then. You need to get discounts and for that if you buy clothes during off seasons then you would be able to save money on purchase of clothes.

Technology savings: It is common for college students to buy electrical gadgets like phones and laptops. So you should buy one expensive (and of better quality) rather than buying several cheap gadgets frequently to save money. In the long term, the bigger, one time investment, would save you quite a lot of money.

Travel advantages: Most college student traverse in public transport. The main reason for this is because it's a convenient yet cheap means of transportation. Often public transportation has students’ discounts that can be availed. In some cities, usage of public transportation is completely free for students.

Most college students have lots of expenses to take care of. However, using the above mentioned tips, can help them save as much as possible, without sacrificing their needs and wants.

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6 Simple Tips to do well in college

Good performance in college, is important to any student who's planning to get a good, high paying job. However, college is not just the place for good academics but also a place for holistic personality development. Personality development is achieved when the perfect balance is struck between academics, social life and personal life.

Therefore in order to achieve this perfect balance the following 6 tips could be very helpful.

1. Find a study group

While you are studying in a group you learn to do team work. However, this not working for others, therefore a healthy competition is also maintained, which in turn helps in improving with your studies. When you study in a group you would remain focused on your academic goals as you will be motivated to work. However, you need to keep in mind that as you start studying in a group you get deviated from your studies. Therefore, it is best that you sit for group studying for only few days in a week. This also helps in eradicating any confusion you might be having.

2. Get to know your professors

 You are now in college and you shall be more prone to go outside the classroom rather than staying inside, unless your college has really strict norms with attendance and class performance. Just like you should attend your college classes you need to know your professors. This will help you to take help from them if you come across some kind of problem.

3. Understand what you study?

Doing well in college is not just getting good grades but it also includes gaining knowledge and developing concepts about your subjects. For example if you're an economics major, and you're attending an interview. You would not be asked to state the definition of game theory, but you would be asked regarding it's application. Therefore it is important to study your subjects by understanding the concepts. Here in comes the importance of your homework. You would get complete understanding of the subjects only through your homework. So it's important that you get help if you run into any trouble with your homework. I would suggest that you get help with some experience homework help service such as Classof1.com. (Their tutors have a high level expertise especially when providing help with Microeconomics)

4. Strike a perfect balance between work and fun

‘All work and no play, makes Jack a dull boy’ is not a new proverb and holds true even at the present time. Therefore, while at college do not stress yourself with only studies. Allocate little time for fun with friends or family members everyday. This will help you to keep your mind fresh and help you understand concepts better.

5. Don’t be afraid to ask for help

While you study you might get stuck at any point of time. Therefore, it should never let you lose hope you should keep trying to solve the problems and if your efforts fail, then seek help from friends or professors. There is no reason to shy away from asking for help when your personal development is concerned.

6. Be Disciplined

The above tips are not just for following during a day or two, or not just for a semester as well. It should be followed throughout your college life to ultimately excel with your college education.

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The Value of a College Education

There is no doubt about it that possessing a college education is more advantageous in respect of earning opportunities compared to a high school degree. This inference would be quite clear if you go through the following analysis of Census Bureau data completed in the year 2010.

The potential earning capability of degree vs. non-degree

The Pew Research Center thoroughly analyzed the data made public by Census Bureau in the year 2010 and observed that the distinctive adult having a degree of bachelor would earn in a career of forty years $1.42 million which is about $650,000 exceeding than a characteristic individual who possesses a high school degree only. Considering the lost income during the school days and the expenses needed for college study the actual difference comes to $550,000 which is still a handsome amount that cannot be ignored. Other research work done by the Georgetown University Center on Education and the Workforce suggests that the total income of an individual for his or her entire life having an associate degree or a two-year certificate is still much more in comparison to a high school degree holder. In this connection it needs no mention that the lifetime earnings of a doctorate degree holder is much higher even.

How median wages increase with increase in education

For economic mobility a college education has a great role to play. It is a common belief of the American people that anybody who works hard can attain his or her goal. According to the study conducted by the Pew Charitable Trust that forty percent of people believe that it is usual for individuals to begin from low income and by dint of hard work becoming rich. The actuality shows that forty-three percent of individuals who begin from the lower range of income potentiality cannot proceed further and seventy percent remain below the middle portion all through their lives.

Severity of unemployment among those who don't have a degree

Pew completed also another report for identifying how and whether a college degree has safeguarded youthful workers at the time of the latest economic downturn and the outcome has shown that it is surprisingly three times more in favor of the degree holders. Reduction in wages and job were found to be more severe in case of individuals having less education. The college graduates who have passed recently were not ready to accept jobs with lower wages and they have been more successful in getting jobs during the recession compared to non-graduate candidates. Therefore, when the economic downturn has been tough for the youthful workers, the impact on the college graduates have been less in comparison to those individuals who are not having a college degree.

Increase in future demand for degree-holders

In future the demand for degree-holders is likely to increase. According to the Georgetown University Center on Education and the Workforce that need for post-secondary jobs would increase from fifty-nine to sixty-three percent in the US economy by the year2020 and there would be a shortage of minimum three million degree-holders.

Conclusion

There is indeed no doubt about it that college degree is very much essential however, at the same time there should be measure to curb the abnormal rise in cost for acquiring the necessary degree.

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This article was composed by Classof1.com, a pioneer in online homework help service. They have the experience of providing customized homework for college students, for over 10 years. They provide homework help in over 60 subjects, including Statistics, Finance, Accounting, and Microeconomics.

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How to properly utilize your breaks to maximize productivity

Irrespective of the kind of work you do, it is next to impossible to do it continuously over a long period of time. You need to take a break at regular intervals to ensure that you can complete your task smoothly without too much stress. Regular break can be more crucial if you are doing a desk job which demands you to sit for longer durations.

Utilizing your breaks in a proper manner can help you maximize your productivity at work. Let's take a look at some of the best ways to make use of breaks at your workplace.

Stand up and move

Your body can become stiff if you sit at one place for a few hours. Standing up from your desk and moving around your workplace can relax your body muscles and prepare you to work for next few hours. Moreover, it can also help you avoid different types of disorders in your muscles and bones that may hamper your work and productivity in the long run. An additional benefit is that it may save you from problems like obesity and weight gain.

Talk to someone

Once you are on a break, spending a few minutes socializing with your colleagues can act as a good stress buster for you. A quick chat with your friends in office will only help you do your work better. If not office colleagues, you can take some time to speak with family or friends over the phone as it can make you feel better.

Close your eyes and take deep breaths

Focusing on the screen of the computer in your workplace can take a toll on your eyes and pressurize you as well. So you should take a short break to close your eyes and take a few deep breaths to relax your eyes and mind. This can help you get revitalized and prepare for the remaining work.

Drink water

Staying thirsty for a huge span of time can dehydrate you even while sitting at one place. So you must either get up and walk up to a water dispenser at regular intervals or keep a bottle of water handy at your desk. Drinking water helps in keeping your body refreshed at all times and reduce risk of dehydration.

The 21 minute nap

This refers to taking a short nap during your break time. Your body and mind are bound to get tired by non-stop work and require some amount of rest. Taking a short nap of about 15-20 minutes in your break time can re-energize you and give you the room to maximize your productivity.

Maintain stringent work and break timings

It is in your best interests to fix a tight schedule at your workplace for your work and break timings. In order to enhance your productivity, you should divide the available break time in an even manner to form a balance between work and recess.

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This post was written by Classof1.com, they are pioneers in online tutoring and homework help service, with the experience of more than 10 years in helping students. If you're looking to get customized help with your college homework, you should visit http://classof1.com

Photo Credit: orcmid via Compfight cc

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The Impact of College Costs on the Economy and Students!

Increasing college fees

There is a radical increase of fees nowadays when it comes to pursuing higher education in Colleges or universities. It is indeed extremely difficult for students to bear the total course fees from the pocket. Therefore, several students back out from the aspiration of pursuing a desired higher education in colleges. The private colleges impose a high tuition fee compared to the Community Colleges. So it may not be possible for lower income group students to pay such heavy educational costs.

Impact on the students

The rising cost of education has affected the students very adversely with many problems mushrooming up in their financial set up. These problems can be very specifically brought into limelight with the following points of notice.

High educational debt leads to less motivation to pursue the courses- With the rising cost of education, the students are compelled to take educational loans from the banks. Again, the amount of the debt is also huge as the course fees are huge. Therefore, it is an immense pressure on the student about repaying the loan with allotted interest. If the loan is taken from a private bank, then the interests are even higher.It is a common problem that a majority of students back out from studying their dream courses because of such high educational debts and its difficult consequences.

Less spending on education- With the rising educational expenses, most people are planning to spend less on higher education. Especially the middle class families think about completing graduation at minimum possible costs because if they decide to invest a lot of money on the higher education of their children, then it will result in a severe cash crunch for family expenses.

Less people are taking risk: Since opting for educational loans is a great matter if risk, people with entrepreneurial look out do not prefer to take such risks. Especially if the student is not enough meritorious, then going for the loans appears to be a non-profitable decision for them.

People are picking colleges primarily based on college cost: With the rise in college expenses, it has become a tendency amongst the students to select colleges on the basis of the expenses and not the quality. As a result the cheaper colleges with less qualified teachers and poor infrastructure are selected for taking admission. This degrades the student’s quality and the overall educational potential of the country.

Impact on the Economy

With the rise of educational costs in Colleges, the economy is losing out on quality human resources because the students are either leaving their studies or are being trained from substandard colleges. As a result the economy is facing a hindrance towards growth of all industries with the lack of quality manpower. Assistance from other countries has to be hired with great expenses causing a severe financial crunch to the economy.

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This article is posted by Classof1.com, a pioneer in homework help services with over 10 years experience in helping students. Classof1 offers homework help in over 60 subjects, including Statistics, Accounting and Microeconomics Homework Help.

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How Does Behavioral Economics Influence Student Motivation

What is Behavioral Economics?

The wing of Economics which draws the relationship between cognitive and social behavior of individuals and their economic decisions is known as Behavioral Economics. This subject is a relationship between Psychology and Microeconomics. The Market conditions also have a great influence of the Behavioral Economics such as the prices, returns and resource allocations.

How does Prospect Theory Help Motivate Yourself?

The Basic model of prospect theory says that all individuals tend to take decisions based on probabilities of profit or losses. These decisions are not based on the actual outcome of the decision, but on certain heuristics which influence the decision making process. This theory is a reflection of how real life decisions are taken rather than the optimal decisions. This prospect theory of behavioral economics has been developed by Amos Tversky and Daniel Kahneman in 1979 with Psychological considerations to identify the true process of economic decision making in the practical scenario. Very interestingly, the prospect theory also helps in self motivation. Since any decision making involves a psychological calculation of the future profitability, therefore one can make the better profitable decision and get motivated consequently to get victory over the situation under consideration.

What is Framing in Behavioral Economics- How it Helps in Student Motivation?

The Framing effect in Behavioral Economics is a reference to the choice between two equivalent options which are presented differently. The human mind has many preconceived notions that act as a bias during decision making. Therefore the decision which the individual takes is matches to the inner preferences of the individual which makes the individual satisfied and motivated.

Talking about Student motivation, this framing effect can also help in student motivation. A student can be presented with decisions to be taken regarding the selection of subjects for higher studies. In such situation, the student frames the choice depending upon his or her preconceived cognitive biases about the future of the subjects in consideration or even sometimes based on how easy it is for them to do their assignments, or get help with their assignments. The student gets a mental motivation of performing successfully with the subject he or she has selected depending on the cognitive biases.

What is Availability Bias?-How it helps in Student Motivation?

Availability Bias is a cognitive bias which influences individuals to take decisions based on recent information or examples about the given situation. This is an important motivational tool for the students that have to choose their career path. They tend to choose the career options or subjects for higher studies, depending on the recent profitability of the choices under question. Therefore, when they manage to select what they feel is profitable based on latest updates, they get motivated to succeed further in life.

What is Idiosyncratic Fit? - How Does it Help in Student Motivation?

Idiosyncratic fit refers to the emphasis on a particular decision by an individual with the heuristic that the chosen opportunity should fit him or her best. Therefore when a student chooses his career path, sometimes he seems to put a lot of emphasis on one particular decision because according to him, that is the best fitted pathway for him. This causes the student to get motivated with his determinations and set goals.