November 27, 2007

The Opportunity Cost of Getting Sick


There's this TV ad for a multivitamin brand called Clusivol and the Filipino tagline goes "Bawal Magkasakit" which means "Getting sick is not allowed." It couldn't be more true for me or any MBA student here in AIM. Getting sick has a high opportunity cost.

In our Microeconomics class under Prof. Patt Lontoc, I really appreciated the concept of Opportunity Cost, which represents the forgone benefits. It is different from Accounting Cost (or cost that appear in the balance sheet), wherein opportunity costs take into account the "what could have been."

Due to my illness last week, I missed a week of classes, missed to contribute in our Economics Research Report, lost ground in studying for Management of Cost and Profit (MCP) and I also missed a WAC. Outside of school, I missed the 10th Philippine Web Awards Night, which I served as a judge for several categories. As you can see, getting sick really cost me.

So my lesson here is to take care of my health and manage stress better. Because as the TV ad would say: Bawal magkasakit.

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