Discussion

Discussion 1 Topic- So far in the course we have learned about the goods and money markets. We have studied them in isolation, but have yet to connect them. The goal of Discussion 1 is to start the study of the connection between these markets through delightful online postings about your everyday interactions in these markets. To motivate your discussion, I would like for you to describe your past experiences in the goods and money markets. Simply put, think of 3 purchases you made in the past. Did you buy a coffee this morning? Was it a meal out with friends on the weekend? Once you have your 3 purchases, discuss the objects representing goods and money in each purchase. Interpret the real value of the goods through the prices you paid. For instance, I purchased a coffee for $2.00 and a restaurant dinner for $26.00. Therefore, 1 dinner is worth 13 coffees or 1 coffee is worth 1/13th of a dinner. Mathematically calculate these relationships for all 3 goods and discuss the results. Do the relationships make sense in terms of the social costs / benefits of the goods? How would you feel having 13 coffees instead of a dinner? Would you be willing to give up 13 coffees for a dinner? Next, discuss how you purchased these goods. What type of money did you use? Was it cash, credit, debit? Discuss the differences in the monies. How costly was it to use or carry? Are there any risks? What factors motivated you to use that type of money for the purchase? Do certain monies go with specific goods? For example, I used cash to buy a coffee but a debit card for the dinner. I used cash for the coffee for the convenience since it was a small purchase and I had change on hand. The debit card was used for dinner since I didn’t want to get up from my seat to use a credit card. Your post should be about a paragraph or two in length. It should cover all the questions and key points mentioned above. You will be graded on the completion, relevance and coherence of your discussion posting. You are also required to reply to a classmate’s posting. The discussion will be graded out of 10 points; 8 for content, 1 for coherence, and 1 for the reply.