Author: Tristan Hand

Tristan is the Lead Content Editor and is interested in how economics is applied to solve problems such as inequality and climate change as well as the roles of the markets and the state in doing so. He also enjoys photography, and is a keen rugby and hockey player.
Chart of the Month, Development, International

Chart of the Month – December 2021

In 2021, remittances to low and middle-income countries are predicted to total $589 billion. December’s Chart of the Month explains why these remittances (money sent by migrant workers back to their country) are so crucial to developing nations. Life for migrants has been tough since the pandemic hit. Many have been stranded from families overseas or been vulnerable to COVID-19 as their jobs were commonly on the … Continue reading Chart of the Month – December 2021

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Behavioural

Time Preference and Economics of Self-Control

Last year, in the last week of school, I was trapped in a painful dilemma: should I continue revising for that onerous Economics exam or should I flip open the laptop and switch on England’s (not so) dramatic Euro’s Group D decider? Adam Smith back in 1759 would’ve explained my situation as a battle between my passions and my impartial spectator. That is, I found … Continue reading Time Preference and Economics of Self-Control

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Environment, International

The Economics of Poaching

A century ago, more than ten million wild elephants roamed the forests and savannahs of Africa. Now there are fewer than 500,000 left. The exorbitant price of ivory, at $1,800 per kilo, makes the grisly economics of poaching extremely valuable, condemning 35,000 elephants each year to an ugly death. Despite its trade being banned since 1989 and a global struggle to enforce an ‘ivory crush’, strong demand from East Asia has seen the market expand by 66% since 2003 and has … Continue reading The Economics of Poaching

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Economics, International

Prospect Theory

How happy would you be if I said you won £1,000? Presumably rather elated; but would you be twice as happy if I’d instead told you that you’d won £2,000? To most people the answer is almost immediate: “Well I’d be happier but probably not twice as much!” Likewise, most people would choose a guaranteed £1,000 prize rather than a 50% chance of a £2,001 … Continue reading Prospect Theory

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Chart of the Month

Chart of the Month – June 2021

June’s Chart of the Month shows the daily value of takeaway sales in the USA over the last five years. The onset of COVID-19 last year cleared the chatter of diners from restaurants, replacing them instead with the frenetic hum of mopeds delivering meals. Sales of takeaway meals have ballooned, up 120% since the start of last year and – despite the gradual reopening –  … Continue reading Chart of the Month – June 2021

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Featured image of graph showing UK annual exports
Chart of the Month

Chart of the Month – May 2021

This month’s Chart of the Month tracks the value of UK exports over time to both EU countries and non-EU countries. The most significant trend is that an increasing percentage of our exports are headed to markets other than the EU. Between 2010 and 2015, European demand for British exports remained low due to a slow recovery from the financial crisis and a weak euro … Continue reading Chart of the Month – May 2021

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Terraced housing in the UK
UK

The Wider Consequences of an Infallible Housing Market

The foundations of the British housing market have so far failed to crack under the economic strain of coronavirus. Vivid memories of the great recession where real house prices crumbled by nearly 20% meant the sector was braced for the worst as Covid 19 started to shake the world’s economies. However, whilst the country sank into its deepest recession on record and with other markets … Continue reading The Wider Consequences of an Infallible Housing Market

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