Beam 5745897129 (Wasitphon

Asawakowitkorn)

Final Reaction Paper

What I got from this course is mainly the new framework to think
in economics field. Before the courses most of economic analysis I
used is in the exchange paradigm. Even when I study the topics about
Keynesian Economics, the analysis barely come out of the quantity of
goods. After the course, I have better understanding of how the
monetary economy works and the logics behind monetary policies.
I found out that what I have learned in thousands pages of
textbooks is just a brief into the theories. This course gives me a
deeper analysis of the origins of the theory, when it works and the
improvements we needed. In microeconomics, we have studied a lot
about trades and utility maximization; however, the explanation of
theories are lacking. In the mainstream micro courses, utility is a given
function; the market is there somehow and people trade. The problem
about these teaching from textbooks is that we are told some kind of
stories and we are framed to think within the context given. I would not
know about the problems in theories learnt if I havent read the texts in
this course. When I have exposed to the ideas how theories are
developed from the originator, I can specify the problems and have an
idea where the improvements should be made in theories. I could
understand the theory more and know when it is going to work, when it
is not.
In this course, many questions are asked to guide my thinking
directions. This made me know where to focus on and makes me get
the ideas in the class easier. It is better than listening to the lectures
and take notes. Sometimes, I just memorized and answer in the exam
room. This course improves my thinking and ability to connect ideas
especially in the discussion which I can speak out whatever I think of. I
can relate the new knowledge with the old ones and understand the
lessons better.
This makes me realize how to run a tutorial session based on
discussion as well. I applied how the discussion is run in this course to
many things I am doing. When I explain the materials in other course

to my friends, I tried to ask more questions to see their feedback and

guide their thinking instead of saying the answer or how it should be
right away. There are times when I got unexpected answer and I have
to debate with them as well. This eventually makes me understand
what I am explaining more. I also apply this to my debate club session.
It makes the club less boring and become more interactive. The
discussion style of this course is another crucial thing I got from
studying this course.
With the new paradigm to use in economic analysis, things
become interesting. There are old ideas that do not work with the new
logic. There are new problems or questions arise with the new logic as
well. This course doesnt only give me new ways to analyze, but also
give me ability to ask questions and do further researches. I believe
the mindset of asking questions and try to gain more understanding
will be relevant for further studying in economics field. I get the ability
to understand economics debates more such as EU policies or
development policies. I could use the understanding of monetary
economy to determine the economist arguments from exchange
paradigms or neo-classical view. This makes digest the information out
there more effectively.
This course also makes me interest in philosophy. I found
philosophy can help us think efficiently by providing different logic and
frameworks. I can see how ideas in the society developed through
different ages and philosopher exchanging arguments to develop
ideas. I think I could apply the way of thinking in philosophy in many
fields. In economics, I found the development of theories is based on
philosophy a lot. By reading the arguments from the ones who came
up with theory, it would provide solid understanding of each theory.
Thus, I think if I study philosophy further, I could question economics
theory more and improve or understand the theories better.
Aside from the big picture and the main story about theories of
money, I think the more important things I got from this course are the
skills and the directions to study economics effectively. It is great to
see how economists in each paradigm think, how money works in
different theories and how it affects the economy as a whole. With

good understanding of these theories, it became a good foundation to

study economics further. Furthermore, when I am better at connecting
ideas, criticize arguments and think further, I could see mechanism in
the economy more ways than before. My objective of studying
economics has changed, aside from learning theories to only predict
what is going to happen. I also learn to think logically, look in the flaws
of prediction and develop better vision when looking at economic
situations.