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William Baumol Econ 490 fall 2017

I am a student in Professor Arvan's Econ 490 class, writing under an alias to protect my privacy, using the name of a famous economist as part of the alias.

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September 03, 2017

here we go

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Risk and Uncertainty

October 21, 2017

Within the context of risk and uncertainty, the major you choose, activities you participate in, and amount of debt accumulated are all ingredients that are supposed to come together to bring you a source of income. For some it's exclusively fulfilling work or a high income, and the more optimistic people are shooting for both. Go to a good school, get good grades, get a good job. Regardless of what is fueling a person's decision to go to college, this is the basic outline they're following. Well, I guess the "good" isn't a given. But if they're going to school, grades will follow, and the previous two factor will influence the number and types of opportunities they have in terms of work. Making sure everything is all done well will reduce uncertainty of opportunities. My decision to attend U of I was based primarily off the school's reputation. My thinking was that when I graduate I'd have a name brand that could signal a decent level of qual...

Illinibucks

October 07, 2017

Meet Dave. He's a soon to be college freshman, on the hunt for the school he'll call home for the next four years. A visit was scheduled to tour the University of Illinois, and he's driving towards the campus right now. While he's sure the tour will be great, he's also really looking forward to visiting his brother, who's currently a senior. As he drives down the highway, he passes the sign that says he's approaching his destination. Peering down the road, he see's what looks like might be a great wall of some sort. Needing to resolve this mystery, he puts the pedal to the metal and races towards it. He hits a bump and the information packet that the University sent him fell from the dash and the contents spilled everywhere. Maintaining his speed, he reaches down to pick up what fell, when he sees what looks like a role of cash money protruding from the information packet. He picks them up and unravels the roll with one hand, and is surprised to see the ...

Sales Team 6

September 23, 2017

Over the summer I worked on the sales team of a software company. There were two other teams within the organization. These were the product development and the product support teams. The objective of the sales team was to set a demo, and then from there the product specialists would perform the demo. Following the demo, if someone was interested in becoming a client, the process of creating a proposal would be worked on by the sales rep and whoever performed the demo. When the proposal was written, it would then be passed on to the owners of the company to be approved or disapproved. If it was approved and the client accepted, the product development team would handle any modifications to the platform that the client might have asked for. Three teams worked together as a larger team in order to complete the sales process. In terms of the decision making process, it resembled a one boss arrangement because the owners had the most through understanding of the companies health and status...