Microeconomices Essay Example | Topics and Well Written Essays - 1750 words

Microeconomices - Essay Example 1. For consideration of staying at school rather than dropping out and following the great legends who followed that very path, there can be several reasons that any individual might give based on their respective mindsets and frameworks. My personal reason for staying back and not dropping out is the fact that I believe this is what should be done, as it secures my future. There might have been billions and millions of drop outs from universities world wide on a regular basis. However, the success stories of just a few are known and the failures of the rest remain an unreported story. The world today is of education and the cost beard today would definitely yield a better and higher return and reward in the future. Thus, I belief that I have applied the right concepts of economic rationality and opportunity costing, i.e. by foregoing the current opportunity to seek a better one in the future. 2. There have been success stories of individuals globally, very few though, dropping out from high school or universities and then moving on to do something big, each having a different feeling in their hearts and minds regarding their then taken step. But the common thing in each was their self-belief and self-confidence in terms of the fact that by withdrawing themselves from the educational arena, they believed that they could achieve something that they won’t have been able to otherwise. In case of Bill Gates, he probably quit schooling because he felt that his expertise lay in something which would not be taught by school and the cost that he is bearing today will not result in a higher yield for the coming years and hence he decided to save time by dropping out. Thus, his belief was different than mine. He felt his opportunity cost was higher than mine is; different people, different mindsets, different nature, thus, different thoughts. 3. People quit school after the 12th grade because they feel that the costs