ECON649 Economic Analysis

One of the incentives that led to the introduction of the moving assembly line and other technological innovations in the production of cars in the United States was the increase in the wages of skilled workers required to produce cars using older production methods. 

a)Show on a diagram the two different technologies used to produce one Model-T car, i.e. the technology before (Technology A) and after the innovations by Henry Ford (Technology B). On the horizontal axis put the number of workers employed in the production process.

b)Are either of the two technologies (A or B) dominant? Explain.

c)Use isocost lines to illustrate the costs of Technology A and B before the change in relative prices. Illustrate the impact on the isocost lines arising from the changes in relative prices caused by the increase in the wages of skilled workers.

d)Discuss the impact on the incentives for firms arising from this change in relative prices. Incorporate the concept of economic rent into your discussion.

Question 1: 

Education is considered to be the foundation of the basic level in our life on which we stand, our character and our personality both of which is the result of what educational background we stand on. Education being such an important pursuit is undoubtedly one of the most wanted and respected profession in the world (Roberts  & Westville, 2008). In the profession of an educator, it is very important to know the art of reflection tremendously in order to understand the challenges in the profession on a day to day basis and also implement strategies to overcome challenges. In a profession of an educator or an educational leader, one has to guide a student to get best learning experience, as every individual has different psychic, reflecting on the practice every day will help the professional forge a deep connection with their role as an educator, as rightly pointed out by one of the fellow student (Tseng & Kuo, 2014).

Moreover, a reflective practice in the profession of education can be by the means of various pursuits. As pointed by another peer, it can be a learning journal, or group discussions in the class as pointed out by another peer. Moreover I would like to add that the benefit of group discussions are that it will be a perfect gateway for sharing the knowledge and learn in an interactive and collaborative manner (Roberts  & Westville, 2008).

Question 2: 

In my learning experience through my education period I have learnt that the conventional bookish methods of learning do little for bigger picture of learning. The method of read-write forget manner of learning is inadequate and overrated when learning is more concerned with understanding the concepts in depth and retaining the gist (Oliver, 2012). Moreover I have figured that memorizing and retaining always do not go simultaneously, hence the educational judgment become focused on memorizing power rather than being dependent upon the intellectuality and merit (Boud, Keogh& Walker, 2013). From being a student, I often wondered that may be the teacher is not doing a good job on explaining the content to me, and that is the reason why I do not understand it but I have to memorize it like a parrot. But coming to be an educator myself I came to notice the gaps in the teaching patterns.

The concept of transformative learning, which encourages us to learn by means of sharing experiences as well as interpretation of critically reasonable assumptions. This is the measure of learning by symbolizing the content that we need to learn the content. My own assumptions are being assimilated by the process of symbolic learning. The experiences that helped me significantly in the master’s course and continued helping me while teaching  my students in a manner that will stay with them for a longer period of time (Oliver, 2012).

Question 3: 

Education is based on a convoluted network of policies and guidelines nowadays to ensure the system of education with its significant patterns. There have been numerous changes and improvisations in the educational policies along the years, and the educational system have been completely reformed and restructured in order to provide a better and more interactive learning experience for our youth. In the journey of this reform the educational policies have been change a myriad of times and each provision had a significant impact on the education system (Fairbairn & Winch, 2011).

In the reform activity of the educational system research has played a profound role ever since the beginning of the era of comprehensive learning. The research has flourished as a wonderful tool for the improvisation and amendment of not only professional practice but also policy restructuring (Fairbairn & Winch, 2011). Time and again qualitative and quantitative research activities have established a foundation upon which the policies could be amended in a manner that will be the most effective for the students and the educators. Lastly researching tool has also helped me to develop my knowledge and understanding about the educational policies and how they can be implemented for the best interest of my students and provide them the best learning experience (Tatto et al., 2012).

Question 4: 

In my entire educational career what I have found to be the most challenging experience are to teach-in my deaf students. And I would also add that along with this being the most challenging professional pursuit of mine, is also undoubtedly most exciting and morally satisfying (Saleh & Khine, 2012). Teaching the students that are dealing with a sensory disability has been a revelation and as I have interacted with them, every day I have learned something new from them. I have learned the beautiful amalgamation of adjustment, zeal and effort in those dear students of mine.

Undoubtedly teaching the deaf students required some special skills that we are not accustomed to on our regular lifestyle, like the sign language. I would gleefully admit that learning the art of sign language has been one of the most wonderful experiences of my life but getting the hang of it properly had been a menial task. Participating in a professional organization has been a big help to me from the very beginning (Douglass et al., 2015). The skilled and experienced professionals have guided me excellently and have helped to improve my professional development significantly. The on hand experience of linking my theoretical knowledge with real world practical scenarios have prepared me to progress through any challenges in my career, and if given a second I would like to reacquaint myself with a professional organization to nurture my professional skills further (Saleh & Khine, 2012).

References: 

Boud, D., Keogh, R., & Walker, D. (2013). Reflection: Turning experience into learning. Routledge.

Saleh, I. M., & Khine, M. S. (2012). Practitioner research in teacher education: theory and best practices. Lang, Peter, GmbH, Internationaler Verlag der Wissenschaften.

Fairbairn, G., & Winch, C. (2011). Reading, writing and reasoning: A guide for students. McGraw-Hill Education (UK).

Tatto, M. T., Bruner, J., Chang, F. H., Cramfield, C. G., Kintz, T. M., Kuo, N. C., ... & Sharif, A. (Eds.). (2012). Learning and Doing Policy Analysis in Education: Examining Diverse Approaches to Increasing Educational Access(Vol. 16). Springer Science & Business Media.

Oliver, P. (2012). Succeeding with your literature review: a handbook for students. McGraw-Hill Education (UK).

Roberts, C., & Westville, I. N. (2008). Developing future leaders: The role of reflection in the classroom. Journal of Leadership Education, 7(1), 116-130.

Douglass, A., Carter, A., Smith, F., & Killins, S. (2015). Training together: State policy and collective participation in early educator professional development.

Tseng, F. C., & Kuo, F. Y. (2014). A study of social participation and knowledge sharing in the teachers' online professional community of practice.Computers & Education, 72, 37-47.