A Reflection Correlation and Causation Writing Assignment - 825 Words

A Reflection Correlation and Causation Writing Assignment (Other (Not Listed) Sample) Content: Reflection on Correlation and CausationAuthors NameInstitutional Affiliation Reflection on Correlation and CausationLearning about correlation and causation relationship was very educative in professional and personal development. The module gave me a chance to explore various concepts regarding the two relationships and how they can be applied in real life situation. The use of correlation and causation relationship in economics is significant in informing people on decision-making. Correlation and causation are important in identifying the degree to which one variable is associated to another (Asgharian et al., 2016). For instance, is the health of an individual associated with education? By establishing the link, it allows a person to determine whether an action is beneficial or not or what a given decision will be beneficial in the present and in the future, opening my mind and made me think outside the box. In the past, I loosely understood the concepts and, in s ome occasions, I would use them interchangeably without basic knowledge about their logic. The incorrect interpretation of the causal effects concerning certain aspects could generate wrong effects resulting in a domino effect of the subsequent decision founded on this analysis Reiss (2013). When one takes a wrong step down on a wrong path, the following steps that are founded on a wrong choice of path will result in going further away from one needs to be. Based on my new understanding, causal relationship argues that one event results from the occurrence of another event. Causation is also known as the cause and effect whereby the second event has a direct implication on the first event. On the other hand, correlation entails a mutual relation of two or more objects (Reiss, 2013). Correlation entails an association that is observed between two factors that seem to be connected. I came to understand that a positive correlation occurs when two factors move in a similar direction. Fo r instance, the weight and height of people and taller individuals tend to be heavier while the shorter persons are inclined to be lighter. Similarly, a positive correlation can occur since one factor influences the other factor. In other situations, two factors can be independent of each other and rely on a third factor to influence them. The economics discipline has many cases demonstrating positive correlation. I can demonstrate this using an example from macroeconomics of price and demand that are usually positive. Additionally, a positive correlation is evident in the gross domestic product and the end-user spending. However, the association between price and demand can be classified as a causation since an increase in demands results in the corresponding increase in pricing of products (Matthews, 2000). Prices of products usually increase since most end users want them, hence are willing to pay higher. When one variable is correlated to another variable, it does not obviously inform us about any causation (Reiss, 2013) something new I learn through this module. While causation is difficult to show, I learnt that they are important in our daily life. Causality as a heuristic can assist decision-makers to think about their environment, organise their thought, forecast forthcoming events and even alter the events (Granger, 2016). For example, if high poverty rates are related to increased death rates, economists can inform policy makers mitigate poverty through development projects to minimise death rates hence altering events. When one thinks in term of causation concept, he/she is able to determine the logical associations between various factors and adjust them to generate changes in the events to socially and scientifically desirable outcomes. By understanding that X causes Y, the time it takes for X to produce Y, social scientists have been able to manipulate various aspects to ensure desirable outcomes (Reiss, 2013). I have come to acknowledge that ec onomic plays an inherent role in policy-making. For instance, climate change and terrorism that do not affected the economy directly but rather indirectly. Thus, knowing about the causal relations helps in suggesting policy-change. The module equipped me with life skills and professional expertise includi...