How baking and Economics go hand-in-hand
Virutal Advent Calendar:
If I can just last one more day, then all shall be well.
It’s finals week and I would like to say that I have been studying hard,
however, if you wanna count:
“Staring blankly at your notes”
as being a most studious student, then yes, yes you better believe I’m ready for my tests!
How about we revisit our song for “The 12 Days of Christmas Cookies”
as a way for me to take my mind off it all:
You know, eggnog cookies are a lot like Economics.
You (the baker) set out to buy all of your ingredients at WholeFoods (the market).
You have no control over the market prices.
You go to the store, are told how much eggnog, flour, etc. is, and you buy it.
You do this because you do not set the prices.
The market does (the Price Maker).
You go home, follow your favorite eggnog cookie recipe,
and hope that the inputs used to make the dough
create an incredible cookie output.
The secret to knowing you gained a profit in your baking skills, you ask?
When the Marginal Revenue (complete and utter satisfaction in taste)
is greater than the Marginal Cost (the amount of time taken to make said delicious cookies),
you the baker know that you have one positive product (baked good).
This is great economic news for the baker.
***I also drew a Supply & Demand graph for all of you to fully comprehend the complexities:
If the demand for eggnog cookies goes up,
we now have a decrease in the supply of cookies.
Translation: Make some irresistably delicious cookies and soon enough,
you won’t have any cookies left (the supply runs out).
So what does any of this mean?
I have no idea.
My Economics final is tomorrow
and this is about as good as I’m undertanding any of this…
Not sure if I made any sense
(((wouldn’t be the first test of the semester that I did poorly on)))
but you can check out Brooke’s blog for
a more comprehensive and coherent post on eggnog cookies–
hers are sooooo cute too!
She used a cookie press (fancy!) to form the cutest shapes
(Economics not included).
Fork and Beans 
Saved as a favorite, I love your blog! 🙂
“If the demand for eggnog cookies goes up,
we now have a decrease in the supply of cookies.” It does not decrease, but the equillibrium price for the cookie does go up =)
This is why Economics is not my major 🙂 Thanks for the correction, Lana!
Aww, you made me blush 🙂 Anyhow I would appreciate it if you let me know about the grammatical mistakes I’m maybe going to make in the future.
No, they don’t. Nevermind. (just found some new recipes to try out ^^)
I’m sorry to decline your offer but I prefer less sunny and cooler places to live, like Alaska is one of those. And yep, it is still Alaska 😉
Less sunny places??? I cannot even understand this. Why? haha. I’m only kidding–I understand that there are others that are unlike me and prefer to not live in a warm climate, however, it’s still hard for me to wrap my brain around it.
So far, so good with the grammar. I will definitely help you out but I wasn’t lying when I said you write English very well! Now you can teach me your native tongue 🙂
English :
I will do so.
German/Deutsch :
Das werde ich machen.
I hope I am pronouncing it correctly
The “Supply & Demand graph” made me smile 🙂 I wish the “Silk Nog” you used was available in Austria or at least Europe too 😦 In my omnivore-times I did everything for eggnog. Now there’s nothing left than to try to create my own. And I gotta tell you, after about four or five attempts, I’m still failing. I think I´m going to move to Alaska *desperate laughter*.
*Austrian girl still has to apologize for her bad English
The Austrian’s English is actually *very* good!!! Katharina, you speak/write very well 🙂 In fact, no one would know it’s not your first language had you not said anything.
Silk doesn’t deliver to your house? No So Delicious? Earth Balance (they just came out with an eggnog)? Man, that *is* depressing. Alaska is looking better and better except for the fact that it is still Alaska. How about joining me in California? 🙂
..what?
Man..this is the only post of yours that I haven’t ever been able to follow! (no fault of yours).
I’m sure you did great on your uh..economics test, but I don’t know poop about economics.
I like the pictures though.. 🙂 especially the graph! Even though I don’t understand it.
I’m starting to think miss Cara is a miss smarty pants.
What, you thought I was a moron before this post??? I will bore you to death with Econ talk even more so now! Wait until I start talking about Accounting…
(hands in the air) NOOOOOO.
Please don’t. My dad’s partner is an accountant. I hear enough already.
Anything with numbers makes me nauseous.
My dad AND my brother are accountants…AND I got the dumb idea to go into the field as well (however the longer I study the subject, the more I realize that I am a moron).
This post and graph make me happy that I majored in theatre. (Once I’m at retirement age, I’m sure I’ll feel differently…) As usual, your cookies look both adorable and delicious. I tried Silk nog the other day for the first time, and I was very impressed. That stuff is tasty!
This post made me annoyed that I thought Accounting was a good idea 😦
I had the same experience with Silk eggnog. I’m not the biggest fan of soy milk as it is and so I wasn’t expecting a lot. But wow, is it good! In fact, I think I want some right this second… xo
A+++++
You’ve always loved eggnog – even when you were a child. Another great recipe and the pictures are great!
Yes, I would take at least half of the credit.
You’ll do great on the test! & Yes, you should share this with your prof.
XOXOXOXO
Now eggnog is something I definitely remember loving as a kid! Mmmm, I still have some left in the fridge and I might have to go get some.
Can you write a note to my teacher and tell him that I should get an A+++??!! Please? 🙂
maybe you should make that graph in all your answers on the test! all the best.:) and those eggnog men are cute.. i need a girl in there too.. put one in a skirt;)
my grandpa told me once that he wrote the same answer to all the questions and passed.. i bet the prof had fallen asleep or something:D.. this was in .. mmmm… 1965-66 … also, i havent touched anything like economics since 1996 i think.. woah.. 1900s seem sooo faaaaaarrr awayy. ok now i am feeling old:|
I haven’t touched Econ since 1996 either. This is why I am struggle with the subject. I too am old 🙂
I’m going to try your grandpa’s method…I think he was on to something.
*putting a skirt on an eggnog “person”*
It is all I can do to keep from cranking up the oven and making these RIGHT NOW. But I did just bake two big batches of cookies yesterday, so I better wait a few days. 🙂
It’s my philosophy that my oven gets lonely a lot so it is my duty to keep it company daily 🙂
RFLMAO. Cara’s Parables may just give Aesop a run for his money. The cookie part really caught my attention anyway. This is one cookie I could make with only like one substitution that is if I could get my hands on some So Delicious Egg Nog. It’s just as well really or I’d end up looking like a 5′ version of those snowmen. Best of luck on the test, you’ll ace it, you just wrote your Ph.D thesis.
Do you think my professor would accept this post as proof of my learning retention this semester???
Absolutely, he/she/it would be foolish not to, especially if you bring cookies. 🙂
Great idea! Now I wish I didn’t just eat SIX after baking some more today. SIX!!
I have a feeling you’ll have better uses for your time starting tomorrow. 🙂
I was an English major. I only passed my sole math course in college because he let us write a paper for the final. Therefore the only thing I understood in the entire post was “cookies.” Oh! And “eggnog.” And Stinking. Cute. Snowmen!!! These look AWESOME!! Love! ❤
PS, Good luck on your test!! 🙂
I will need it, thank you!!
Yeah, my previous 2 degrees have done nothing to help me with this subject matter. Did I just admit out loud that I am going for my *third* degree? I just called Nora a nerd but I’m one to talk, apparently…
xoxo Loving YOURS!!
Yeah, I think you may have put your foot in that one… 🙂
pfffhhf meiffdfh mmmfpspffhh <–what I sound like with a foot in my mouth
1. You are adorable!
2. Good luck on your economics test!!!!
3. Is it weird that I miss homework and tests?!? 🙂
1. If I take credit for this one, my mother will swoop in and remind me that I *am* her daughter.
2. I need a Christmas miracle for this one.
3. Yes.
xoxo
1. Your mother has a point, I take after my mom too 🙂
2. You can do it!! Think positively my dear!
3. I think it’s because I could always see a result of my hardwork, where in real life at my current job, it’s hard to measure my success/failures – doesn’t that sense? If I was good at economics, I would willing offer to help with your homework…but this is not the case…
Mwah!
1. She is pretty adorable herself. The apple doesn’t fall far from the tree.
2. Positive thoughts. Positive thoughts.
3. Nerd. haha
OMG your Blog gets cuter and cuter with every post!
Love, LOVE these cookies
I never knew Economics was the way to your heart 🙂 Thank you Heather! xo
Ha! I love it! Coincidentally, I bought some nog yesterday, drank a bit of it, remembered how insanely sweet it is (even cut with unsweetened soy milk) and wondered if I could bake something with the rest… now I know. 😀
Good luck with your final! It sounds like you understand what you’re talking about!
We are always one step ahead of you here at Fork and Beans 🙂
And I’m glad to know that at least I sound convincing that I know what I am talking about with this stuff…
You do make sense! My Dad has a PhD in Economics- he’ll think this is great.:)
Good luck on your final!
These look so good– a lot better than the ones I tried to make this weekend…There was a lot more supply than demand in my house.
It will be the one time that your dad is actually interested in baking 🙂 Wow, that was a very sexist assumption on my part, believing that just because he is a guy, he has no enjoyment in the baking world… ha!
What cookies did you make this weekend; the same eggnog kind???
Actually I did try to make egg nog cookies! They were terrible and I think it was because of the kind of gf flour I used and because sometimes I throw things in a bowl and hope they turn out. (bad habit, but fun…)
You are right though about my Dad– not really a baking enthusiast unless he gets to be the taster.
Oh no!!! Damn that GF flour! What a total bummer 😦