“The brain is a wonderful organ. It starts working the moment you were born and doesn’t stop until you get called for oral recitation.”
I got the line, which is a George Jessel quotation with a twist, from my friend Kristine Malabanan. And it perfectly sums up what happened yesterday during MBA 812: Managerial Economics class.
When I went through the required reading for the class (which was almost a HUNDRED PAGES), I had a different understanding about marginal benefits and its impact on whether or not a consumer decided to buy more or not. During the discussion, I realized my error. While I was still trying to reconfigure everything (the key word being trying), I was called to say my piece about marginal costs and suppliers. As the professor was shooting questions at me, I was trying to say something using the new information I received earlier. That was, of course, unsuccessful. Although, the way the discussion was moving, you would believe that I was actually on the right track – until you hear the gibberish I was saying anyway. I am trying to remember what I said but all I remember are random numbers.
I felt really stupid after that. But it triggered something in me. I was suddenly very eager to say something else in class. In previous sessions, my heart would be pounding every time I raise my hand. It was actually a relief when somebody else was called. But now, it’s “I already made a big mistake, it wouldn’t hurt to make another one”. This mindset works in classes (with obvious exceptions) where making mistakes is just another opportunity to learn. It’s a cliché but it’s true. I am sure I will never forget the concept of marginal benefits and costs for a loooooooong time. When exams come, I am almost 100% certain that I will get this item right.