Ceteris Paribus

Economic modeling relies on a concept called ceteris paribus, a term from Latin meaning "everything else holding steady." Economists consider all the variables in the marketplace and then hold all other variables steady while they look at the effect of one variable's rise and fall. They can then discuss cause-and-effect relationships. For example, a rise in the price of soft drinks may lead to an increase in the demand for bottled water.

Consider the last test for which you received a grade. Write 3 positive variables you might have had that helped you on the test. Perhaps you got a really good night's sleep or remembered to eat breakfast. Next, write 3 negative variables. Then determine the effect on your grade of an increase or decrease for each variable in turn, with all the other variables remaining constant.

What do you want from me?

Please write a paragraph describing what you would like to learn this semester in Economics. Try to keep it original!