Hello 15th of August

This is officially the last day to posture. For those of us that are truly confident it is the last day for which we can claim humility and suggest that we are not prepared (the posturing about how we actually performed could go on indefinitely). For those of us who have wasted the last eight weeks mapping out a wiki-city for the exam, but actually done very little studying, this will be the last chance to claim authority, knowing what is going on. In tests like this somebody will look relatively weaker on some vector, it is just a ranking game. The luck part plays in when the vectors chosen for the test line up with our individual vectors of strength. This is the rational for being able to take the test twice (different vectors tested each time – theoretically). 

 

My optimist side tells everyone that this is moment to shine that we have all been waiting for. The chance to prove that we are of a caliber equal to those predecessors currently teaching economics throughout the nation. I wonder what my first year teacher, Dr. Arce, would think if he knew I was sitting for micro today. Some even are just looking for confirmation. Others are looking for a signal that their time here has been misallocated such that human capital investments can be made elsewhere. People that perform at the highest levels on the test are probably signaling talent which would be rewarded in a variety of other environments. What they are still doing in a relatively low-paid academic vocation is a matter of personal choice. This opportunity cost and other personal demands will be hanging over their heads, much like a Damoclesian sword which will cut some from our midst in the next three years.

 

Those of us that hope to at least marginally pass. It would be nice to get feedback at this point that we have retained more from the year of studying than our peers. At this point, it seems that rank movements would be explained by a variety of insignificant coefficients.

 

Regardless there are those of us, as Dr. Caplan would say, who have to be professors and we will take on many times the expected price to get there. This is a week of becoming what we have worked towards for a year, the demarcation point for where we emerge on the other side as unqualified second year students. With this in mind, I am putting on my game face and look forward to meeting my fellow students at the exam and out-performing any previous class at George Mason University!!!

 

See also Brian Hollar’s thoughts on today.