Eco Eco Aus

Welcome! In this post, I thought I would explore some of the economic concepts around value.  This post is merely the first of many as I begin to explore different economic concepts and provide some examples to help bring theoretical economics into the practical everyday world, hopefully in some fun and creative ways.  First, I would like to address the difference between accounting value and economic value. Most of us will be familiar with accounting value as we encounter it every time we purchase something, which is price. Price is a dollar value representing what it cost to market a good plus some profit (hopefully!). Economic value, however, is more complex and considers the more non-tangible costs like economic opportunity costs (what had to be given up to gain something else), personal value, and social value. The difference means that while Economists have great respect for money in/money out, they recognize that value goes deeper than just direct costs and includes ele...

 Perhaps a good place to pick up is where I left off in the last post. I left off where I had come to a realization about how I wanted to use my skills but still needed to learn what that looked like.   At this point in my journey, I have come back from my trip to the Blue Mountains and have hit the ground running on a busy semester.  Every semester I have a ritual where I go to the university library and borrow out my textbooks plus a heavy selection of other material in line with whatever piques my interest to read over the next 12 weeks. Eager to expand upon what captured my interests in the Blue Mountains, I was particularly interested in forests, geology, and water.  My pile of books was so heavy I almost had to take it home in two loads. This ultra heavy pile included a book called "Wild Foresting" which was a collection of papers centered on forests. Its topics were broad but each was as interesting as the next. Some were academic papers detailing scienti...

Welcome to the Eoc Eco Aus Blog! My name is Aeronwyn and I am the content creator, owner, and economist at Eco Eco Aus.  This is my first post on the blog and for it, I would like to share a life-defining moment, a beginning moment that would ultimately bring me here. Let's take a dive back in time to my early years at University, back when I was trying to figure it all out.  When I started my Bachelor's of Commerce back in 2017, I had no idea where I would finish in 2020. I started it because I knew I would need to change careers but I wasn't sure what I would change it to. At the time, I thought I would pursue careers in management or HR but the moment of truth actually came in the middle of 2019. At this stage, I was 1.5 years into my degree and had chosen my major as economics but I still needed to work out what I planned to do with it after uni so I could come up with a plan and chart my course accordingly. This question was a primary focus during my 2-week hiking holi...