Friday, June 16, 2006

Memory Technique

I just learned a memory technique that I heard a long time ago but thought it was ridiculous. The technique is to ridiculize what you have to remember. I will now apply it to the Macroeconomic Objectives (without referring)

Objectives of Macroeconomic Policies:
1. Economic Growth
2. Low Unemployment
3. Stable Prices/ Low Inflation
4. Balance of Payments
5. Strong and Stable Exchange Rate
6. Social Objectives

Gosh, I hope I didn't forget anything. I shall now explain how I applied what I learned.

Economic Growth - Imagine a balloon with "Economy" labelled on it. Blow it up and it GROWS.
Imagine the balloon does not fly and it falls to the ground. It drops LOW to the ground labelled "Unemployment".
The balloon is held by a boy who stands on a STABLE beam labelled "Prices".
He has to BALANCE his way across the beam.
He switches the balloon from his right hand to his left hand. He makes an EXCHANGE.
He has to reach the goal or the OBJECTIVE at the end, a post with the label "Social".

Ridiculous but effective. For all those reading who do not take econs, I'm sorry, but you'll probably remember the objectives too because the story is too ridiculous to forget.

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