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Opportunity Cost, merit goods, interest rates, consumption, investment, Keynesian demand management policies - do all these theories and concepts really matter in the real world? The easy answer is yes, but it is not always immediately clear how some of these can be applied. In the recent years, the A-level syllabus has shifted to reflect a greater focus on reality-based economics. A brief scan of the latest 2013 A-level syllabus show us the following...

An awareness that equality between Price (P) and Marginal Cost (MC) may not hold in reality is required.

Using the concept of profits to illustrate real world competitive behaviour of firms (in protecting their profits)

And here's a question from last year's A level paper which will further illustrate this shift

11 Ways to Make Unpleasant Work Easier


Question from a reader -

One thing that I'm wondering, and figured that I should send before I go to sleep and forget it... For certain kinds of tasks (having discussions about more abstract goal things, writing emails to friends, commenting on LW, etc.) I'm really motivated, and need to be restrained from doing them.

With other tasks, I'm nowhere near as motivated, and have trouble starting them. Since I'm still a student, not doing this kind of work just isn't an option.

In the long term, I'm hoping to just do more of the things I'm motivated for, and fewer of the ones I'm not. I'm willing to buckle down and do work in subjects that I'm less motivated for if I see how it clearly relates to my goals (last year I spent a few hours trying to work out the geometry kinks for a robot part -- it was a mess).

Right now, I'm just reminding myself that its really not hard once I start it, and that it goes quickly if I just do it.

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