+230,000 Brothers.+200 Chapters.Since 1907.

A Century of Greatness.

DELTA SIGMA PI

college is a time of exploration, discovery and learning.

you meet thousands of people in class, clubs, and parties.

but without something to believe in what do you want to accomplish?

foreward

you wake up, eat brekafast go to class, sit through lecture, study for that quiz/midterm/final, watch tv, go worko

ut, come home, do homework, sleep. rin

se & repeat

the cycle.

BREAK THE CYCLE

Economics studies the allocation of scarce resources among people – examining what goods and services wind up in the hands of which people. Why scarce resources? Absent scarcity, thereis no significant allocation issue. All practical, and many impractical, means of allocating-carce resources are studied by economists. Markets are an important means of allocating rsoures,so economists study markets. Markets include stock markets like the New York Stock Ex-change, commodities markets like the Chicago Mercantile, but also farmer’s markets, auction-markets like Christie’s or Sotheby’s (made famous in movies by people scratching their noses andnadvertently purchasing a Ming vase) or eBay, or more ephemeral markets, such as the marketfor music CDs in your neighborhood. In addition, goods and services (which are scarce resources)areallocated by governments, using taxation as a means of acquiring the items. Go-erments may be controlled by a political process, and the study of allocation by the politics, which isknown as political economy, is a significant branch of economics. Goods are allocated by cetain means, like theft, deemed illegal by the government, and such allocation methods nevetheless fall within the domain of economic analysis; the market for marijuana remains vibrantdespite interdiction by the governments of most nations. Other allocation methods include giftsand charity, lotteries and gambling, and cooperative societies and clubs, all of which are studiedby economists. Some markets involve a physical marketplace. Traders on the New York StockExchange get together in a trading pit. Traders on eBay come together in an electronic markeplace. Other markets, which are more familiar to most of us, involve physical stores that may ormay not be next door to each other, and customers who search among the stores, pur-chasingwhen the customer finds an appropriate item at an acceptable price. When we buy bananas,we don’t typically go to a banana market and purchase from one of a dozen or morebanana sellers, but instead go to a grocery store. Nevertheless, in buying bananas, the grocerytores compete in a market for our banana patronage, attempting to attract customers to theirstores and inducing them to purchase bananas. Price – exchange of goods and services formoey– is an important allocation means, but price is hardly the only factor even in market echanges. Other terms, such as convenience, credit terms, reliability, and trustworthiness are alsovaluable to the participants in a transaction. In some markets such as 36 inch Sony WEGA telvisions, one ounce bags of Cheetos, or Ford Autolite spark plugs, the products offered by distelvisions, one ounce bags of Cheetos, or Ford Autolite spark plugs, the products offered by dis-tinct sellers are identical, and for such products, price is usually the primary factor considered by buyers,although delivery and other aspects of the transaction may still matter. For other products,like restaurant meals, camcorders by different manufacturers, or air travel on distinct ailines, the products differ to some degree, and thus the qualities of the product are factors in thedecision to purchase. Nevertheless, different products may be considered to be in a single marketif the products are reasonable substitutes, and we can consider a “quality-adjusted” price fortesedifferent goods. Economic analysis is used in many situations. When British Petroleum sets the price for its Alaskan crude oil, it uses an estimated demand model, both for gasoline consumers and alsofor the refineries to which BP sells. The demand for oil by refineries is gov-erned by a complexecnomic model used by the refineries and BP estimates the demand by re-fineries by estimating theeconomic model used by refineries. Economic analysis was used by ex-perts in the antitrust suitbrought by the U.S. Department of Justice both to understand Microsoft’s incentive to foreclose(eliminate from the market) rival Netscape and consumer behavior in the face of alegedforeclosure. Stock market analysts use Economic analysis is used for two main purposes. The first is a scientific understanding of how allocations of goods and services – scarce resources – are actually determined. This is a positive analysis, analogous to the study of elec-trmagnetism or molecular biology, and involves only the attempt to understand the worldroun-dus. economic models to forecast the profits of compnies in order to predict the price of their-stocks. When the government forecasts the budgetdeficit or considers a change in enviromet-alregulations, it uses a variety of economicmoels. This book presents the building blocks of th

DAMN PROUD TO BE DELTASIGS.

est. 1907WEARE

Delta Sigma Pi is made of students that are

Founded in 2008, the Delta Sigma Pi chapter at UCI is the largest and most presgious business fraternity on campus.

AWARD2010

FIRST PLACE

AWARD2011

FIRST PLACE

In the four years since the Pi Sigma Chapter was founded, we have built a reputaon of professional excellence.

The experiences earned while in Delta Sigma Pi have translated into personal success for our Brothers.

Members of our Fraternity have diverse Members of our Fraternity have diverse career interests but excel and are lead-ers in every industry.

to make the world around us a better place for us all. here we packed sports gear for underprivileged youth.

to work together no matter the cause. group shot after an afternoon at “Working Warddrobes” rehabilitating men and women to work again.

Some of the foundations our Chapter supports:

is to help those who cannot help themselves. in the pursuit of our careers and dreams we must never forget to defend the weak and protect the less-privileged.

(easy)to choose

your path to greatness.it starts now.

∆ΣΠ