Opportunity Cost

In economics, I learned how to maximize one’s utilization of resources and how do risks could lead to negative or positive returns. But above everything else, as I embark on my last year in finishing a degree, economics has taught me that in life, you can really never have everything. There are always trade-offs. And opportunity costs.

Opportunity cost, as defined, is the resource you have to give up in order to pursue another one. Let’s say, tonight I wanna go to the cinemas but I gotta study for my Econometrics exam tomorrow. I cannot afford to fail the exam so I need to set aside my plan of seeing a movie. Here, the opportunity cost of passing my Econometrics exam is going to the cinemas. This is a very relative concept, yes. Someone’s opportunity cost might be a necessity to others.

We always look into the brighter side. And most of the time, we care less about the things we have let go, of the people we take for granted. How does it feel like to be the opportunity cost? How does it feel like to be ‘unconsciously’ forgone by the one you have been holding onto?



Yesterday, I went to the Ateneo de Manila University with fellow Thomasians to participate in the ADMU-UST Trade-Off 2011. We were basically exchange students for a day as we explore the campus and get a feel of how student life is in the Blue Eagle headquarters.

The day started out way early for me. I felt like a freshman traveling to UST then to Ateneo in the morning since as a senior, most of my classes are in the afternoon. We, the seniors, arrived in the Ateneo earlier than the lower years. The facilitators warmly welcomed us and ushered us to the room they have reserved for this activity. Shortly, the program started even with the absence of other Thomasian students. We went out after a brief introduction and took a tour around the big campus. It was very tiring since most of the places we went to are far from each other. And there are some we’ve visited twice since we were regrouped. Half past twelve in the afternoon, we attended the Macroecon class of Mr. Luis Dumlao. We were so sleepy (sorry :D). But I managed to keep my eyes open and kinda listen to the lecture. I already took the course last year but I’ve learned something new with Mr. Dumlao’s lecture. After the one-hour class, we continued with the last leg of the tour.

My favorite part of the day was, of course, the class we attended. It was a brief lecture but I enjoyed it. Also, I loved the church part of the tour. I am Catholic, but not religious. The Church of Gesu has got itself some unique set-up with its pyramid facade. The solemnity inside was just overwhelming. And who could ignore the big stone just beside the entrance where the holy water overflows?

Though exhausting, I enjoyed the whole day as the Atenean facilitators were so accommodating. They are very humble people. I am unsurprised by this coz I have a friend who’s an Atenean. I am very glad I was a part of this endeavor. It’s a unique experience. I’m all praises to the Ateneo community, specifically the Ateneo Economics Association. The Blue Eagle spirit is very much felt wherever you go in the campus.

But, of course, I am still a Thomasian. And I am proud of it.

Mr. Dumlao’s endnote in his lecture: Dominicans put all the money in a hole. All money inside the hole are for God while the excess are for the Dominicans. However, the Jesuits throw all money to the heavens above. And they pray, ‘Lord, take all the money you want.’. Everything that falls down are for the Jesuits. 😀