Category: Economics

Economics-driven content, perfect for students and teachers alike. Highly accessible and open to all.

Environment

Can economic growth and environmental sustainability coexist?

Economic growth and environmental sustainability are two of the most widely discussed topics today. While both of these issues are extremely important and cannot be easily prioritised over one another, it is widely believed that trying to solve one issue can only negatively impact the other. The crucial nature of maximising economic growth and achieving environmental sustainability where GDP remains “3.1% below pre-pandemic levels”, and … Continue reading Can economic growth and environmental sustainability coexist?

Unknown's avatarTorsai Kiernan1 Comment
Business and Technology, Development

How Technology has Affected Developing Nations

The technological advances over the past twenty years have been fundamental in structuring the world we reside in today. Despite this, many economies have been left behind and have only recently begun to experience the full potential of technology and the digital economy. This is predominantly because much of the initial progression was concentrated in established economies and so nations that were underdeveloped and more … Continue reading How Technology has Affected Developing Nations

Unknown's avatarJacob Medlicott1 Comment
Economics, Europe, History, UK

The Galloway Hoard: Economics of the Early Middle Ages

The Galloway Hoard is more than just buried treasure. Discovered in 2014, this Viking-age deposit offers a glimpse of life during the Early Middle Ages, a century after the first Viking raids across Scotland. The collection contains more than 100 silver, gold, glass, rock crystal, stone, and earthen objects, most of which date to roughly 900AD. Our modern stereotype of the Viking age is framed … Continue reading The Galloway Hoard: Economics of the Early Middle Ages

Unknown's avatarChenyang Li1 Comment
Economics

Real Business Cycle Theory

The real business cycle, also known as the boom-and-bust cycle, is a term that illustrates how an economy evolves over time. The real business cycle shows that macroeconomic fluctuations within an economy can be described by technological shocks and changes in productivity. The change in growth affects the decision making of firms on investment. In RBC theory, business cycles are created by agents responding optimally … Continue reading Real Business Cycle Theory

Unknown's avatarEtonomicsLeave a comment
Economics, US

The Economics of Private Prisons

When it comes to incarcerating criminals, there are two options in the US: state or private. A state prison is entirely owned by the government. The government then needs to oversee almost everything, from hiring the guards to providing the building itself. Although, even with state prisons, much of the work, such as food service and prisoner transportation, is outsourced to private contractors. With a private prison, … Continue reading The Economics of Private Prisons

Unknown's avatarEtonomicsLeave a comment
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

Unknown's avatarTristan Hand2 Comments
Chart of the Month, UK

Chart of the Month – November 2021

UK vacancies are at a record high. November’s Chart of the Month examines the causes behind this unprecedented labour shortage and its implications on the UK’s economic recovery. During pandemic restrictions, domestic aggregate demand for consumer goods and services slumped. Businesses faced sharp falls in revenues and a loss of profitability. Without government support, many firms would have shut their doors forever. To prevent irreversible … Continue reading Chart of the Month – November 2021

Unknown's avatarChenyang LiLeave a comment
Economics, International, Long Read

Modelling Supply and Demand: An Investigation of Price Volatility

Introduction     For those who have lived through a pandemic, price volatility is no new phenomenon. In the early days of lockdown restrictions, dramatic images of empty shelves surfaced across media outlets, prompting fears of widespread shortages and price increases. Economic theory provides a standard explanation: a change in consumer preferences (as the jargon goes) results in a rightwards shift in demand. This leads to shortages, … Continue reading Modelling Supply and Demand: An Investigation of Price Volatility

Unknown's avatarChenyang Li4 Comments
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

Unknown's avatarTristan HandLeave a comment
"Central Bank Digital Currency" in typewriter font
Business and Technology, Economics, Finance and Markets

Central Bank Digital Currencies

While the physical world has been frozen in lockdowns, the digital world has been accelerated into our living rooms. Even in a tide of new financial assets, cryptocurrencies have become the most speculative. In the first four months of 2021 alone, Bitcoin has doubled in price, continuing to hear the praises of its early devotees and adding hedge fund titans like Paul Tudor Jones to … Continue reading Central Bank Digital Currencies

Unknown's avatarJohn Chang1 Comment