/biz/ - Business & Finance

>>268710
If it shifts permanently then the resulting unemployment will be structural. The people that lost their jobs lost their jobs because they are in a field that is no longer as relevant or no longer needs their specializations.

>>268719
Thanks anon. We really need more economic discussion on this board.

>>268721
I guess it's understandable why there isn't any, this is a business and finance board. Economics is that weird mushy in-between of business, finance, politics, and social science.

Also, are you a fellow econ major?
>tfw people keep telling me how employable econ is but I honestly have no idea what I'm going to do when I graduate

>>268727
>Also, are you a fellow econ major?
No. My high school offers economics via the IB program.

Economics is interesting, but like you said, I'm not sure where I'd be employed if I were to pursue it through college.

>>268739
Dayum, I don't think my highschool economics course even mentioned the different types of unemployment. I won't push it as a major, but I will say that the courses are interesting and if you have room for some Econ courses as electives or something while you're in college I would definitely recommend it. I'm assuming you're a senior now, correct?

What do you plan on majoring in?

>>268764
The IB program is mostly college level courses, so we get the whole 9 yards (micro, macro, int'l).

Yes I'm a senior. I plan on majoring in Law or some other shit.

What are you pursuing?

>>268776
Well like I said, I'm an Econ major. I don't know what the fuck I'm pursuing. I originally had the intent of law school when I picked Economics, as Econ is usually considered one of the best degrees for going to law school with. Now however I've kind of thrown the law school dream away. Law school tuition would bleed me dry with not a very high chance of gainful employment. I might work and save up money first and then try law school.

>>268788
Why don't you try to get a job with a bank to use your economics degree and then go to grad school? Or is that your plan?

>>268795
>or is that your plan
>implying I have a plan

Anon my plans fell apart quite some time ago and I've been stabbing at shadows for the past two years.

>>268804
Aw come on anon, make a plan.

Nobody successful doesn't have at least an idea of what they want to do.

I don't know you, but make sure you can manage your finances/debt, and plan with what money you have to pursue a job to hold you down/pursue law school.

>>268804
Another question; would legislation most likely affect AS or AD?

What about foreign income (AS or AD)?

Legislation is going to mainly affect Aggregate Demand. Shifts in Aggregate Demand are often sought through legislation, this is a huge tenet of Keynesian Economic practices.

As for foreign income, I'll be honest with you and say I'm not sure, but I would wager that it is also Aggregate Demand.

Structural unemployment occurs when certain industries decline because of long term changes in market conditions.

Frictional unemployment, also called search unemployment, occurs when workers lose their current job and are in the process of finding another one.

Cyclical unemployment exists when individuals lose their jobs as a result of a downturn in aggregate demand. If the decline in aggregate demand is persistent, and the unemployment long-term, it is called either demand deficient, general, or Keynesian unemployment.


I'm no economics major, but I'd go with Structural.