Today was one of those rare days where the mind feels sharp from the moment you sit down. I got through two chapters of Woodford without reaching for my phone once — a personal record.
What I studied
- Finished Chapter 3 of Interest and Prices — the Wicksellian natural rate framework finally makes sense. The key insight is that the natural rate isn't a number you observe; it's a theoretical construct that the actual rate gravitates toward when markets clear.
- Reviewed past paper questions on fiscal policy from 2077. The questions on deficit financing are more nuanced than the textbook suggests — they want you to distinguish between cyclical and structural deficits, which most candidates don't.
What I'm thinking about
There's a tension I keep returning to: the PSC exam rewards breadth and speed, but real understanding requires depth and slowness. I'm trying to hold both — study broadly for the exam, but go deep on the topics that genuinely interest me (monetary economics, public finance).
The exam will end. The understanding won't.
Tomorrow
- Continue with Chapter 4 of Woodford.
- Write the draft on remittance dependence I've been putting off.
- Anki revision in the morning — I've been inconsistent this week.