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Application of Economics to Everyday Life

            People experience economics in their day to day activities without noticing. I personally have experienced it when it comes to budgeting or choosing between certain things to buy. One of the hardest choices I've had to make was when choosing what university to go to. The best University in California, UCLA, has very high standards, very high levels of education and ranked highly so graduating from there would definitely put you at a better chance of employment as opposed to graduating from a community college, but is very expensive when it comes to tuition fees. Since I am an international student the tuition fees are more expensive and come up to about $30,000 per semester which is quite expensive in my opinion or rather for my budget. In comparison to that is a CSU which is not ranked as high and is half the price of Uc's so I had to choose between going to one of the best universities but at a huge expense, with all the benefits, or choosing a CSU which was cheaper but not so advantageous in other categories. I first compared the pros and then the cons and had to lose out in one sector and win in the other. Due to my financial situation I had to choose the cheaper option, and apply to a CSU.
             Another economic experience I had was when I had to choose between buying this pair of heels or the text book that was required for the semester. The pair of heels were $65, slightly cheaper than the text book, $80 so it was very hard for me to choose because usually when it comes to making ultimatums, I choose the cheaper one. So I first bought the shoes and went home feeling guilty of course and then my friend told me that I had to do a new assignment which the professor suddenly gave to us on MyEcc and the contents were in this required text book. So I knew that if I did not get the book I would have no other way of doing my assignment over the weekend because the library was closed so I just had to quickly return the pair of shoes and get the money back to add up and get the book.


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