Mathematical Economics, Microeconomics
Consumer Surplus and Producer Surplus: Integration, Welfare Triangles and Deadweight LossEvery time you would have happily paid more for something than you actually did, you pocketed the difference. Economists have a name for that quiet windfall — consumer surplus —...
Mathematical Economics, Microeconomics
Linear Programming in Economics and Business: The Graphical Method, Shadow Prices and SimplexIn 1947 George Dantzig solved a problem the US Air Force had considered computationally hopeless. His method now quietly routes your parcels, schedules airline crews, blends...
Mathematical Economics, Microeconomics
Derivatives in Economics: Marginal Cost, Marginal Revenue and Profit MaximisationHere is the secret that makes the second year of economics much easier than the first: every time a textbook says “marginal”, it means “derivative”. Marginal cost...
Financial Economics, Mathematical Economics, Microeconomics, Public Economics
Net Present Value: Discounting, Investment Appraisal and the Rate That Decides EverythingA pound today is worth more than a pound next year. Everyone nods at that. Almost nobody appreciates that the exact size of “more” — a single number chosen before any...
Financial Economics, Mathematical Economics, Microeconomics
Compound Interest: Simple vs Compound vs Continuous CompoundingEinstein almost certainly never called compound interest the eighth wonder of the world. The mathematics is remarkable enough without the endorsement — and once you see why the number e turns up uninvited,...
Consumer Choice, Mathematical Economics, Microeconomics
Introduction: Economics as Constrained Optimisation Nearly every proposition in microeconomics is the solution to the same mathematical problem. A consumer maximises utility subject to a budget. A firm minimises cost subject to an output requirement. A planner...
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...
