Francis Edgeworth Econ 490 Fall 2017

I feel that this class was quite enjoyable and gave me a lot to learn. Coming into this class, I did not know what to expect and I chose this class due to the space available. I particularly valued the knowledge I received on transaction costs as I had no idea what it was. I feel class also prepared me well for the essays we had to do. Perhaps, because my essay was on transaction costs. Either way, it gave me an insight on why firms are formed and the different types of knowledge people have. More importantly, this class taught me to analyze the world as if I were an economist as in discussions we would have to describe concepts in economic terms. At first, I was not so keen on the blog posts, but as the course progressed it was an opportunity for me to showcase how I am understanding the concepts of the class. The comments do not aid me in my learning of the course material. I feel it would be useful for someone who has never given feedback to another student. Other than that the on...

The triangle like arrangement is also seen commonly in consulting. As I am part of a  consulting organization on campus I can share my experience of a triangle like arrangement. A consultant is also the agent of the client and the firm. In certain situation, it is possible that a conflict of interest may arise between the client's demands and the firm. The representative of the consultants working on a project is the project manager. He or she is the middleman between the actual firm and client. I will give an example of what recently happened on one of my projects. I will have to use discretion as I have signed a non-disclosure agreement. However, I will have to inform you of the basics before I delve into the process. Once the firm (upper management) signs clients to a semester project, there is a meeting between potential clients and the firm. In this meeting, the statement of work is discussed and agreed upon before the official signing of the contract. The statement of w...