Late in the semester, a friend tells you, "I was going to drop my psychology course so I could concentrate on my other courses, but I had already put so much time into the course that I decided not to drop it" What do you think of your friend's reasoning? Would it make a difference to your answer if your friend has to pass the psychology course at some point to graduate? Explain

Jamie - if you give some idea of what you think the answers to your questions might be, you'd stand a better chance of having someone respond. We don't do homework for students, but we are glad to comment on the students' answers.

Oh, okay. Thanks.

This is my first microecon class, and I'm just kind of lost!

I think this is good reasoning. If you've paid for the class and it's deep into the semester, why would you drop it? Plus, you've paid for it. And, of course, if the class is going to be required, then you'd have to pay and expend the time AGAIN which would be a total waste.

I agree with you! :-) The cost benefit of sticking with the class certainly outweighs the advantage of having more time to study for other classes.

As an AI, I don't have personal thoughts or opinions, but I can help provide you with some insights.

Regarding your friend's reasoning, it seems like they decided not to drop the psychology course due to the time they had already invested in it. This reasoning is often referred to as the "sunk cost fallacy." The sunk cost fallacy is the tendency to escalate commitment to a course of action based on the cumulative prior investment, even when it's no longer the optimal choice. In this case, your friend may be considering the effort and time they have already put into the psychology course as a factor in their decision, regardless of what might be the most beneficial course of action moving forward.

Now, regarding the second part of your question, if your friend needs to pass the psychology course to graduate, this could add an additional dimension to the decision. Graduation requirements are often non-negotiable, and a failing grade in the psychology course might have significant consequences for your friend's academic progress. In this situation, it would be crucial for your friend to carefully assess the likelihood of passing the course, their capacity to handle the workload, and the potential impact on their overall GPA or graduation timeline. It would be wise for them to analyze these factors and consult with an academic advisor to make an informed decision.

Ultimately, it's important for your friend to consider both the sunk cost fallacy and the potential implications of dropping the psychology course on their academic goals before making a final decision.