Too Many Choices (i.e. How Managerial Economics Might Apply to My Life)

Me running to my next activity. Except I have a backpack.


So I’ve made it through my first week of MBA life with mostly positive results.  Classes seem interesting.  My team is cool (and potentially the topic of my next blog – guys, this serves as your warning).  I only embarrassed myself once in class by not being prepared (note to self: read the syllabus BEFORE the first class of the quarter with a little more care).  Generally, life is good.  That being said, I’m starting to sense that I might have a problem.  I am way too excited about signing up for student organizations, and I might be getting a little over-involved (at least according to some of my teammates and the calendar on my iPhone).

Before I explain how economics relates to my problem, you should know a couple of things about me.  First, I am a generalist.  It’s probably one of my biggest strengths and one of my greatest weaknesses.  I find a lot of things interesting and I don’t like to be boxed in to a category.  While I think this helps me keep an open mind, it also means decision-making is tough.  I’m terrible at it.  Second, I had exactly one economics class as an undergrad.  I can’t even remember if it was macro or micro econ (it’s been a while. . ).  It apparently didn’t make a big impression, so taking economics this quarter is like taking it for the first time.

Anyhow, according to my Managerial Economics textbook, economics is the study of how people make choices under conditions of scarcity, and the Scarcity Principle states that even though we have unlimited needs and wants, our resources are limited.  Therefore, if time is my limited resource and the clubs I can join are (practically) unlimited, maybe economics will explain how to make my choices.  I’m hopeful, because choosing is hard.

For now, I’ll try to experience all I can and be most involved with the activities that continue to be the most fun and impactful as the year progresses (as of now, that means International Business Club, Fisher Graduate Women in Business, Innovation Fisher and Net Impact – more about those in my future blogs).   And maybe economics will come through in the end and save me from my overcommitment problem.  Or at least help me explain it to my neglected family and fiance.

*Update:  I mentioned in my last blog I wanted to do another international trip. . . this week I signed up to go to Ghana in June.  So excited!!!