Category: Economics

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

Development, Economics

The Solow-Swan Growth Model

What is The Solow Growth Model?  Also known as the Solow-Swan model, the Solow growth model is a foundational economic framework often used to explain and recognise trends in long-run economic growth. It does this by looking at factors like capital accumulation, labour growth and productivity increases (often driven by technological progress).  Structure, Mathematics and Assumptions  N.B. this model assumes constant returns to scale, exogenous … Continue reading The Solow-Swan Growth Model

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Behavioural, Economics

The Economics of Ozempic

The economics of Ozempic  We’ve all heard of Ozempic at one point or another. Our favorite celebrities (including Oprah Winfrey and Elon Musk) use Ozempic/similar drugs daily. Ozempic, or Semaglutide, was originally a prescription drug for type 2 diabetes; however, it is now one of the most well-known weight-loss drugs, as it is known to actively reduce appetite and reduce body weight by 15%. Its … Continue reading The Economics of Ozempic

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Business and Technology, Development, Economics

AI and the Labour Force

When the steam engine transformed industry in the 19th century, economists redefined how they measured growth and economic productivity. Today, two centuries later, artificial intelligence poses a similar challenge, except now the developments and changes come from AI algorithms and not machinery or infrastructure. The world of AI automation is growing rapidly and is enabling people to fully automate tasks that were once performed by humans. … Continue reading AI and the Labour Force

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Economics, Politics

Taxing the Ultra Rich

We’ve all heard of taxing the ultra-rich as the key to solving fiscal deficits around the world. Whether it be Bill Gates claiming that he should pay “significantly higher” taxes, or Warren Buffet advising that the government should “get serious about shared sacrifice”, taxing the ultra-rich at significantly higher rates has been debated throughout the last decade. But is it really the panacea for deficits … Continue reading Taxing the Ultra Rich

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Development, Economics, Europe, Politics

Capitalism and Social Welfare in Nordic Countries

As many advanced economies are struggling to balance changing demographic demand, inequality and free market capitalism, the Nordic countries – Denmark, Finland, Iceland, Norway and Sweden – are often held out as examples of successfully balancing capitalism and the social welfare needs of their societies. This is often attributed to “The Nordic Model” – a system which combines free market capitalism with strong social welfare, … Continue reading Capitalism and Social Welfare in Nordic Countries

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Economics

Deadweight Loss

Deadweight Loss  What is Deadweight Loss?  Deadweight Loss (DWL) is defined as the economic inefficiency that may occur in a market due to a new policy/event in said market. This change creates a distortion in the natural supply and demand equilibrium (equilibrium is defined as the supply and demand for a product being perfectly equal) set by the free market; the DWL refers to the … Continue reading Deadweight Loss

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Americas, Economics, Sport

The Economics of MLB

Introduction:  Throughout the late 20th century and the early 21st century, we have experienced the rapid commercialization of sports. A striking example was the recent IPL auction, where Rishabh Pant was sold to the Lucknow Super Giants for 27 crore ($3,122,490.09). Baseball has seen a similar financial boom, which can be attributed to its rapid increase in net worth. The Major League Baseball (MLB), founded in … Continue reading The Economics of MLB

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Development, Economics, Long Read

Testing for Convergence in HICs

Economic growth, most often measured by the Gross Domestic Product (GDP) growth rate, is the engine that propels nations from poverty to prosperity. It is the driving force behind rising living standards, the creation of new opportunities, and the expansion of human potential. Yet, the question remains as to how this varies between nations. Will the long-standing economic giants always be ahead or will less … Continue reading Testing for Convergence in HICs

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Behavioural, Economics

Keynes in the Comments Section: Why Everyone Became Economists

A Century ago, economic discussion was limited to the confines of lecture halls and academic journals. Certainly, one would have been hard pressed to find a member of the public who could engage in some degree of literacy with you on the economic state of the country. Today, there has been a shift where these debates occur in real time across social media platforms, dinner … Continue reading Keynes in the Comments Section: Why Everyone Became Economists

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Americas, Economics, Politics, US

Trumponomics

Since Donald Trump’s return to the presidency in January 2025, “Trumponomics” has redefined U.S. economic policy through a lens of protectionism and economic nationalism. Central to this strategy are aggressive tariffs, including a universal 10% tariff on all imports, effective April 5, 2025, and targeted rates as high as 245% on Chinese goods. By May 2025, these measures have catalysed a seismic shift in global … Continue reading Trumponomics

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