Econometrics, Regression Analysis, Statistics
Introduction: The Workhorse of Empirical Economics Almost every empirical claim you have ever read in economics — that education raises earnings, that minimum wages do or do not cost jobs, that carbon taxes reduce emissions — rests on a regression. Usually an ordinary...
Behavioural Economics, Financial Economics
Introduction: The Most Useful Wrong Idea in Finance In 2013, the Nobel Prize in Economic Sciences was shared by Eugene Fama and Robert Shiller. Fama had spent his career arguing that asset prices efficiently incorporate all available information. Shiller had spent his...
Health Economics, Microeconomics
Introduction: The Market That Cannot Work Like a Market In 1963, Kenneth Arrow published a paper in the American Economic Review titled “Uncertainty and the Welfare Economics of Medical Care.” It is widely regarded as the founding document of health...
Environmental Economics, Microeconomics, Public Economics
Introduction: The Externality That Ate the Planet Climate change is, in the standard economic framing, the largest market failure in human history. Every tonne of carbon dioxide released imposes a cost on people who did not consent to it, were not compensated for it,...
Labour Economics, Microeconomics
Labour Economics · Core Debate The minimum wage debate is not about whether demand curves slope downward. They do. It is about the shape of the labour supply curve facing an individual firm — and thirty years of natural-experiment evidence has changed what economists...
Demand and Supply, Elasticity, Microeconomics
Microeconomics · Core Concept Elasticity is the number that decides whether a tax raises revenue or changes behaviour, whether a firm should cut prices or raise them, and who really pays when a government regulates a market. This guide covers the theory, the...
Inflation, Macroeconomics, Monetary Economics
Between 2021 and 2023 the world experienced its worst inflation surge in four decades: US CPI inflation peaked at 9.1% in June 2022, the Eurozone hit 10.6%, and the UK reached 11.1%. For students, this episode is a gift — it turned every textbook theory of inflation...
Game Theory, Microeconomics
Introduction Game theory is a fascinating branch of economics that explores strategic decision-making in interactive situations. It provides valuable insights into how individuals and organizations make choices, considering the actions of others involved. In this...
Central bank Monetary policy, Central Banking, Macroeconomics
Central banks play a crucial role in managing a country’s economy and ensuring stability. One of their primary responsibilities is to formulate and implement monetary policy, which includes controlling inflation. In this article, we will explore the role of...
