Monday, November 23, 2015

Institutional Authority and Communication in Economics

Alfred is a student at Oxford University trying to figure out what he wants to do with his life. He has done some basic research on different fields of study and has found an intriguing fascination in economics.  Deciding to visit the councilor over the department was only obvious, but what he experienced was not what he expected. 

Joe, the counselor, started right off firing the questions at Alfred. "Why do you want to study economics?" asked Joe. Alfred didn't know what to say other than that he was just curious. "Have you been reading up on the ECOSOC?" he asked.

"No," responded Alfred, unsure of what that was... "What does ECOSOC mean?" asked Alfred.
"You don't know what ECOSOC is and you are thinking about economics for your degree. ECOSOC is the United Nations Economic and Social Council[Authoritative Organization]. You have never heard of this economic council?"
"No, I'm sorry," said Alfred.

The counselor wasn't sure what approach to take in the situation. "So you've never read any reports or summaries that come from the annual four week forum in the summer[Influential Event]? This is where all of the leaders of economics meet, and deal with current events and issues in the world[Changing Standards]. If there are any major changes in economics, oftentimes it comes from this event and the discussion/decisions made in this council."

Alfred felt a little sheepish, but was excited to be able to learn more about this council.
"I would love to learn more about it, where can I go to do that?" he inquired.
"That is a great question. Go to this website, http://www.un.org/ecosoc/en, and you will be able to find the documents and reports that not only come from these annual meetings, but also the rules that are a foundation to economics[Authoritative Publications]. If you don't like that, simply look up the United Nations, and they will have publications as well."

"Great," said Alfred, as he thanked Joe and began to go out the door.
"Oh, one more thing," declared Joe. "The United Nations Charter is a document that you will want to look up. That is the treaty which has the fundamental rules that regulate the ECOSOC[Regulating Standards]. You should look it up."
"Thank you so much," said Alfred, as he left that office on a journey to economics.

2 comments:

  1. Haha, I can relate to the experience of thinking I new what I was going to do and then going to a counselor and realizing I know nothing. Well put together blog post!

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  2. So, I don't know if you'll go back and read this, but I'm curious, how much does economics really change? I mean, I understand that basic rules can be applied, and research can be done to see how existing situations fit with the economic constructs we have, but in this it sounds like there are completely new economic ideas coming out of ECOSOC. Did I read that right?

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