How Prepared Are You For The First Day Of Class--Or "Blink", Does It Matter?

Recent findings indicate that students often form lasting impressions and opinions of teachers and their potential teaching effectiveness within the first few minutes or even the first few seconds on the first day of class.  This paper argues it is the entire first day of an economics class that deserves special attention. Teachers of economics should clearly define economics as a science and explain its scientific methodology.  They should emphasize the distinct limitations of economics that explain the many widespread disagreements among economists.  Of equal importance, they should stress that understanding the science of economics will be of assistance in preparing and expanding a student’s critical-thinking skills that will ultimately result in sound decisions throughout life.  Finally, the paper calls upon teachers to bond with their students by reaching out with genuine concern for each student's success in the class

The Influence of Online Cash Loan Service, Collection Ethics, and Service Integrity towards the Emotional Condition of User

Peer to peer lending financial tech apps are widely available on the internet by 2023. The number of app users is also significantly growing, especially after the epidemic began in late 2019. It is transforming the micro-economy today as new problems and hazards emerge. This study attempts to uncover the truth about the usage of peer-to-peer lending (P2PL), specifically their speedy loan service, as one of the independent factors to be examined, along with other variables such as collection ethics and service integrity, and their influence on the user's emotional condition. As of March 2023, the Financial Service Authority (OJK) announced that at least 23 P2PL enterprises were in TWP90 (non-performing loan) and 85 unlawful online cash loan services. This leads to the belief that many users have fled from responsibility due to improper collection methods, and the pressure felt by the user is one of the reasons why the return of the lending is considered a troublesome scenario. According to this study, online cash loan service, collection ethics, and service integrity all have an impact on the emotional state of the user

Economic theory

Economic theory is about coordination of decision making. Markets, corporate hierarchies and governments are seen as the most important governance mechanisms, and economics is about the proper role and scope of each mechanism. Decision making is coordinated by means of a proper division of labour between each mechanism. Some tasks are seen as best accomplished by the market, others by corporate hierarchies, and others again by the government. Some economic theories also stress the importance of proper institutions for effective coordination of the decision making. In sum, coordination takes the form of institutional framing and division of labour between governance mechanisms that are mostly seen as functioning in isolation and according to their own respective rationales. On the other hand, discursive framing of decentralized decision making and mixture of governance mechanisms as a result of direct interaction, joint decision making and negotiations between actors are beyond the theoretical perspective of economics. One of the metaphors being used for such forms of governance is the handshake. In this contribution the handshake will be used as a metaphor to represent contributions with important common elements even if only a few of them use the concept themselves. Instead of coordination directed by either the invisible hand of market forces or the visible hand of superiors in hierarchies handshakes represent coordination by agreement, bending of will and/or consensus. Handshakes can be visible or invisible. Visible handshakes are formal whereas invisible handshakes are informal. Visible handshakes are being fleshed out through direct interaction within institutional frameworks established for formal coordination and aiming for compromise. Invisible handshakes are informal coordination through means such as trust, social relationships, affinity and a common frame of meaning aiming for consensus. Because of the important role of mainstream economics in relation to the traditional forms of coordination this contribution starts off by specifying in more detail how mainstream economic theory has contributed to this traditional understanding. First, the rationale of the invisible hand with no need for interactive coordination is presented. The economic rationale of the diametrically opposite approach in the form of central state planning (the clinched fist) is presented next. Then follows an outline of micro- and macroeconomic theories that suggest the need for supplementing the invisible hand with a helping hand in order to counteract market failure, stabilize the macro economy and redistribute income. Then the focus shifts to the governance of the firm starting with the visible hand of managerial coordination followed by economizing on transaction costs, and the trends of globalization and outsourcing (the vanishing hand). Whereas the preceding sections concern theories with a focus on coordination of governance mechanisms in accordance with the generic definition of governance, the concluding sections give a more detailed account of economic theories that contribute important insight to the understanding of governance more narrowly understood as societal steering toward collectively negotiated objectives though interactive processes. A review of contributions that provide an economic theoretical rationale for formal interaction between market actors, governments and associations (visible handshakes) is presented first, followed by an outline of contributions about informal coordination in networks, by means of social capital and through discursive interaction (invisible handshakes). Finally, economic theory of the governance of common pool resources is presented as a combination of visible and invisible handshakes followed by a conclusion

Hubungan sikap, pengaruh sosial, jangkaan bersalah, niat dan tingkah laku pembelian produk tiruan dalam kalangan pengguna di Malaysia

Counterfeiting refers to illegally making copies of trademark, patent, and copyright of product without permission from the owner with the aim to reap the benefits offered by a branded product. Counterfeiting is a phenomenon that has long been neglected in previous studies. Production and sale of counterfeit products is an issue that has no ending, and becoming an increasingly serious problem in the international market in general and Malaysian market in particular. Based on Theory of Planned Behaviour, this study focuses on the factors that influence the purchase intention and behavior among consumers towards counterfeit products in Malaysia. This study examined the relationships between attitudes, social influence, perceived behaviour control, anticipated guilt and past experience on intention and purchase behavior of counterfeit products. The consideration of putting both mediator and moderator factors in this research allow a more previse descriptions on the relationship between all the variables mentioned and the outcome of the research. This study involved 392 respondents in the area of Kuala Lumpur, Penang and Johor Baharu who have experience buying counterfeit products. Out of seven hypotheses tested, six were supported. The analyses revealed positive relationship between intention and purchase behaviour of counterfeit products. Attitudes and social influence have positive relationships with intention to purchase counterfeit products while perceived behavioural control has positive influence on purchase behaviour of counterfeit products. Anticipated guilt mediates the relationship between attitude and intention to purchase counterfeit products while past experience moderates the relationship between intention and purchase behaviour of counterfeit products. The study also highlighted implications of the study, limitations as well as suggestion future research

Fenomena Panic Buying dan Scarcity di Masa Pandemi Covid 19 Tahun 2020 ( Kajian Secara Ekonomi Konvensional dan Syariah)

Berdasarkan penelitian dan literature ilmiah menyatakan bahwa bumi setiap 100 tahun sekali melakukan pembersihan diri dengan ditandai fenomena alam maupun munculnya pandemi secara global berupa penyakit menular dan garis infeksi yang berkelanjutan. Diawali di Wuhan,pandemi covid 19 menyebar sejak pertengahan tahun 2019 namun di akhir tahun 2019 menjadi peringatan bagi negara-negara lain yang juga mengalami pandemi ini. Hingga WHO pada 12 Maret 2020  menyatakan pandemic ini mirip flu namun lebih mematikan dan penyebarannya begitu agresif dan tidak nampak. Keadaan pandemi yang merupakan penyakit baru dan belum ditemui obat yang mampu meyembuhkan maka timbulnya kepanikan dan kecemasan untuk lakukan antisipasi serta pencegahan melalui beberapa cara,seperti rutin cuci tangan dengan sabun,memakai masker,lakukan social distancing hingga pembatasan daerah maupun negara yang berdampak pada perilaku baru yaitu panic buying memicu adanya scarcity secara lkcal maupun global. Kelumpuhan ekonomi di segala sektor,PHK besar-besaran di berbagai industri terjadi di seluruh dunia. Penelitian ini dilakukan melalui kajian pustaka dengan analisa diskriptif dalam menganalisa lebih valid dan objekti

Willingness to pay for marine-based tourism within the Ponto do Ouro Partial Marine Reserve, Mozambique

Marine and coastal ecosystems face widespread degradation largely because market failure hides the economic value of the goods and services provided by them. Marine protected areas (MPAs) can serve as a structure that ensures the continuing function of marine and coastal ecosystem goods and services. Yet, to be effective and sustainable, MPAs must be able to prove their economic worth and generate revenue. User-fees are a common system used to partially finance multi-use MPAs. This study applies contingent valuation as a method of economic valuation within an MPA in southern Mozambique. The objectives of this study are to determine the willingness to pay of combined user groups and of individual user groups for use of the Ponta do Ouro Partial Marine Reserve and to investigate the potential for the reserve to increase revenues for conservation through the implementation of a user-fee for marine based activities. The payment card contingent valuation method was employed to determine willingness to pay of dolphin swim tourists, scuba divers and fishermen. Data was collected by face-to-face interviews of 120 respondents within two popular tourist locations in the PPMR. Results show that visitors within the PPMR are mainly South Africans, loyal to the area. Probit and OLS regressions were used to determine the effects of various independent variables on willingness to pay. Results from the Probit model indicate that African residency, activity and environmental awareness were significant factors that influenced visitors being WTP more than R20 per person per day as a user fee within the PPMR. The OLS model examined independent variables that influenced visitors being willing to pay as well as the impact of the variables on the amount visitors were willing to pay. The OLS model found income, African residency and environmental awareness to be significant factors influencing visitors being willing to pay. The mean WTP was R43.75 per person per day. Using data supplied by the PPMR, conservative estimated annual revenues based on the implementation of this fee amount would range between R1.46m – R 3.3m

SIGNIFIKANSI LEMBAGA AL-ḤISBAH DALAM SISTEM EKONOMI ISLAM

If the teachings of neoclassical economic systems minimize the role of the state in the market, and conversely the teaching of socialist economic systems maximizes the role of the State in the market, Islamic economic systems teach that markets, countries and individuals are in balance (iqtiṣād / equilibrium). This means that for Islamic economic systems, the State is in a unified system. However, Islamic economic systems guarantee a free market mechanism, where sellers and buyers are free to compete fairly in terms of equity. To guarantee the sustainability of this market fairly, from the outset the Messenger of Allah saw attention to the market by conducting an investigation into the market. This sunna is preserved by friends and the Islamic world, which in turn is transformed into an institution of ratio. After observing the objectives, principles, and characteristics of Islamic economic systems, it turns out that the existence of this market watchdog is a necessity, as a logical consequence of the Islamic economic system it self