Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Saturday, November 21, 2009

"...I just want to say that I believe there are options out there! A take a number option, like they have in a deli."*

From The Wall Street Journal | Health

The Henry Ford of Heart Surgery
In India, a Factory Model for Hospitals Is Cutting Costs and Yielding Profits

One of the best quotes?
"What health care needs is process innovation, not product innovation."
- Dr. Devi Shetty


Also, Holy Taco (in East Atlanta) is my new favorite restaurant option for Mexican food. Much better than standing in a deli line for a chicken quesadilla...


*Quote from the latest episode of The Office. Don't know how many options there will be for health insurance if the vote for the recent bill doesn't go through, though...

Friday, September 11, 2009

Econ 101, with a musical twist.

We might be in an economic recession of monumental precendent (check out Paul Krugman's NY Times article - it's been on the "Most Popular" list for the past 5 days), but some high school kids are still willing to pay exorbitant amounts of money for a concert ticket to hear their favorite electronica/pop band.

It's all about supply and demand.

Case in point: Tickets for the Owl City concert in Atlanta were sold out about a week ago. In other words, supply was limited. And, as common sense (and Graph 1 below) might tell you, when the quantity of a product goes down, the price goes up because people are willing to pay more to get what they want. In fact, it wasn't long before tickets started selling on $30 or $40 on Craigslist - even though the original cost of the ticket was only $12. In financial terms, that's called a price mark-up (though, in this case, it didn't really cost the seller anything to "produce" the ticket, so a profit was made without expending any services).

Graph 1: Relationship Between Supply & Price

By 8 pm on the night of the concert, demand had shifted to an all-time high (see Graph 2 below). Desperate, antsy teenagers were huddled in small groups outside the entrance to the venue, willing to pay upwards of $50 for a ticket. One kid actually offered my friend $70 (that's about 580% more than the original price of the ticket!), though my friend was nice enough to sell it to him for $40 - still a solid profit of $28. I'll omit the pseudo-verboten details, but a few of us (myself included) ended up selling our own tickets at a similarly substantial profit and we managed to make it into the concert.

Graph 2: An Upward Shift in Demand

Owl City's overall performance - and, in particular, Adam Young's unfiltered/unedited vocal performance - wasn't nearly as amazing as the ritzy recordings. By purely musical standards and substance, then, my first live U.S. concert wasn't quite what I'd hoped it would be. But the night itself was made memorable by virtue of my friends - the financially-loaded, ticket-seeking "friends" I temporarily made on the corner, as well as the more permanent, financially-savvy friends that I went to the concert with in the first place.

I'm beginning to see how my (currently limited) knowledge of financial accounting and health economics might actually be beneficial when combined with some street smarts; and with friends like these, well, who needs enemies?*

*"The Bird and The Worm", Owl City.

Wednesday, September 9, 2009

A club worth joining.







I don't know who came up with this idea, but the fact that a site like this can be informative and entertaining is pure genius. Check it out here*.

My favorite is fancy parking method no. 4. I'm willing to bet that most drivers secretly (and, sometimes, openly) relish the opportunity to use this parking method, if and when the stars (/cars) properly align themselves.
Definitely much more fun than obsessing over "generally accepted accounting principles" in financial and managerial accounting class or understanding PPCs (product possibility curves) in health care economics any day. Though, don't try any of the fancy parking methods at too high of a speed, especially if you don't have health insurance.

Some additional entertaining (/entertainment) news - I'm going to hear Owl City perform live in concert tomorrow night!


Granted, Owl City consists of just one guy (Adam Young) on vocals and, well, everything else (though he occasionally features a female singer, Breanne Duren, on a few of his tracks); and most of the songs have super-artsy lyrics that deal with seemingly nonsensical topics that are generally unheard of in most mainstream music (like dental care) and/or rather conventional topics that are described in unconventional ways ("Cheer up and dry your damp eyes and tell me when it rains/ And I'll blend up that rainbow above you and shoot it through your veins").

But, surprisingly, that's part of what makes his songs so fresh and oddly compelling to listen to.

The real inventiveness in Owl City's music, though, is in its instrumental arrangements - the way that they have the ace ability to envelope you in an amazingly idyllic atmosphere wherever you are and transport you away from the commonplace. And, especially when you've been cooped up in your car during a painfully long commute or you've self-sequestered yourself in the stuffy stacks to study for hours upon hours, isn't that exactly what you want in the music you listen to? Feel free to let your own ears make the choice.

*Props go to the guy who commented on the most recent post in Ramit Sethi's I Will Teach You How To Be Rich blog.

Monday, May 18, 2009

Sometimes beginnings aren't so simple.*

College was good. College was bad. College was easy and college was difficult. College was crazy and apathetic, exhilarating and boring, surprising and predictable, painful and reassuring. It was nothing and it was everything.

As humans, we have an often-unrealized desire to define our experiences with labels, to assign singular categories to pluralities, and to endeavor to simplify incomprehensibly complex phenomena. Classifications bring about a superficial sense of stability, but they often fail to provide a truly accurate representation of the events in our lives.


I remember freshman year like it was just yesterday: the boys crowding into our iconic Smith 114 room, never ceasing to exasperate, entertain, enlighten, and, ultimately, endear us all through the unpredictability of their actions; the late-night conversations about love long-lost and life lessons learned and all that the uncertain future might hold; and, most of all, the ways in which we allowed ourselves to fall, to tumble to the ground in uncontrollable laughter and collapse into each other’s arms in irrepressible tears, because we knew we had a family of friends that would find a way to pull us back up in the end.

And, yet, at the very same time, it feels so long ago.


It’s as if yesterday was both a recent present and a distant past – composed of a million unforgettable, undeniable memories – memories that continually resurface when I least expect it. The nostalgia hits when I unconsciously breathe in the pages of a newly-published book in true Namrata-fashion, when the off-key recordings of Ashwin’s guitar-playing and singing randomly come on my iTunes, and especially when someone yells “EXPECTO PATRONUM” in a Harry Potter movie.

For me, the smallest things have always held the strongest meanings; and now, more than ever, they give me something to hold onto until we see each other again. College was more than the sum of my classes, and definitely much more than my GPA and my GRE or MCAT scores. It was four years of intricately intertwined, unquantifiable moments – moments that defined me even though I can’t define them.

In the meantime, I can look forward to detecting honesty in games of mafia, spending an amazing six weeks in Paris, and adjusting to new modes of communication to keep in touch, regardless of where we are or what we end up doing post-graduation.


*"Shadow of the Day" by Linkin Park (Minutes to Midnight Album)