Economics in BMI

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To be very honest I never expected that I would be taking a economics class in BMI.I had never taken economics subject in my whole student life but after attending those lectures I really find it interesting.Dr.Johnson's lecture revolved around cost effectiveness.In the very beginning he cleared a misconception that cost effective does not means the cheapest but the most efficient.I did carried this misconception for a long time.The other very important thing that I learned today was about perpective.For doing any study,reaserch,survey the perpective should be well defined.What is good for me can be evil for others.Now i realise that this word has a huge impact in economic studies and that is why he was putting so much emphasis on this word.He also defined "cost" and also talked about different types of costs and lossees which to be very honest were quite difficult for me to understand and relation between them.Sometimes I also got confused and tangled to realte an entity with a individual, society,services and thinking about different perspectives.I know that I have dig my head and try to learn as much as i could so that I could write something constructive in the assingnment.I hope for the best.
Posted by
Ashutosh