Barnyard Economics
Some people just toss this term around without much thouhght about its meaning. A friend of mine, who took an exam where this term appeared, tried to google it without much success. So I thought I'd do the googling myself and see what would come up.
Barnyard economics
Sense 1:'practical economics' as opposed to one influenced by inclinations and desired. Relevant article: "Barnyard Economics" by Denise Eby Konan, Associate Professor of Economics at University of Hawaii. URL (accessed 16 Dec 2004): http://www.colorado.edu/Economics/newsletter/summer01-konan.htm . Relevant book: Everything I Needed to Know About Business I Learned in the Barnyard by Don Aslett.
Sense 2: 'real world' economics as opposed to textbook economics. Textbook economics, for instance, says markets equilibrate; 'barnyard economics' denies it. Sample passage: "The real basis of economics was detailed in George Orwell's Animal Farm which made the astute observation that equality is variable. Nowhere is the application of such barnyard economics more obvious than in the stock market. Though laws have been passed to keep the large predators at bay, there is still enough size difference between the inhabitants of the barnyard to illustrate the fundamental Orwellian principle that some animals are more equal than others" (Dallas Brozik, Sharks and Lemmings: How the Stock Market REALLY Works. URL (accessed 16 Dec 2004): http://webpages.marshall.edu/~brozik/sharklem%20web.pdf
Sense 3: 'fundamental economics' taught through engaging methods other textbooks or classroom lectures. Relevant project: 'Barnyard Economics'. URL (accessed 16 Dec 2004): http://www.oup.org/pubs/curentp_2/vol.html . Sample passage: "Bill began a talk 'Barnyard Economics' as a hobby became popular with church groups, lodges, school, civic service and foreman's clubs. This talk was made throughout the Eastern half of the United States. "Barnyard Economics" took the mystery out of the principles of economics by reducing them to the shopman's language." URL (accessed 16 Dec 2004): http://www.communities.ninemsn.com.au/MorganCountyKentuckyGeneology/johnston.msnw?action=ShowPhoto&PhotoID=137
Wednesday, December 15, 2004
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