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Accounting and Economics

I have had a revelation today… University is not higher education… At least not if you are doing ACCT101 or ECON100 at Waikato University and have done Level 1 Accounting or Economics…

Today, I had my weekly Accounting Tutorial. Someone asked the tutor if we should include GST in our work. Her response? “No, you don’t do GST. I’m doing a third year paper and we don’t do GST.” WHAT IS THIS ABOUT?!?!?!?! One of the most important part of Accounting is taxation, and yet we ignore taxation at the beginning of the third year of a three year degree??? I understand allowing people who haven’t done Accounting before to get the basics first, but giving them at least two years??? In NCEA, you start using GST at level 2, the second year. Surely, by the end of the first year, we should have taught people enough to do GST. If not, there is something wrong with the system.

If you thought that was bad, you need to check this out… In a Economics Tutorial question sheet, there was the question “Why does the demand curve slope downwards?” (question was similarly worded with the same meaning, but I believe I can’t copy exactly due to copyright stuff we agreed to) An answer was given “because of the law of diminishing marginal utility.” The tutor replied, “No… Well yes, but that’s not the answer from your lectures. You will be tested on what you are taught in lectures, and if you give a different answer, you will probably get marked wrong.” This lead me to ask, “So, we would get marked wrong for using real economics?” to which she smiled and sort of nodded. WE WOULD GET MARKED WRONG FOR USING REAL ECONOMICS?!?!?!?! This is just utterly ridiculous. Marginal Utility isn’t a difficult concept. Why would we get marked wrong for saying that people are willing to pay less for a good when they get more, because they receive less average satisfaction on each unit consumed. That is correct. That is NCEA Level 3 Economics. And that is obviously beyond the lecturers of ECON100.


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