Macro

Macro

03
Oct

Game Theory in Microeconomics

By Aidan Hackett. Edited by Arjun Chandrasekar. Overview Game theory is, according to Investopedia, “a theoretical framework for conceiving social situations among competing players”. Basically, what this means is analysing what one person should do, assuming they are...
03
Oct

What is Supply Side Theory?

By Aidan Hackett. Edited by Arjun Chandrasekar. Overview In stark opposition to the ideas of Keynes, demand side theorists, large government advocates, and those pushing for higher tax rates, supply side economic theory posits lower taxes, more...
05
Aug

Taxation Policies vs. Global Income Inequality

By Theo Anthony. Edited by Arjun Chandrasekar. Overview Income inequality is at the pinnacle of rising global economic inequality; most notably in the United States, where in the past three decades the bottom 50% of earners have...
31
Jul

Is GDP an Accurate Representation of a Country’s Welfare?

By Aidan Hackett. Edited by Arjun Chandrasekar. Overview The invention, or at least the popularization of GDP is usually attributed to Simon Kuznets after he devised a more effective way to measure economic welfare in 1934 during...
25
Jul

Technological Change vs. The Wage Gap between Skilled and Unskilled: Part 1

By Theo Anthony. Edited by Arjun Chandrasekar. Overview In many skilled careers, the use of information technology (IT) is much more applicable compared to that of unskilled professions. Hence, technological change has, in recent years, increased the...
25
Jul

Technological Change vs. The Wage Gap between Skilled and Unskilled: Part 2

By Theo Anthony. Edited by Arjun Chandrasekar. Overview In the present-day workforce, many industries are implementing redundancies of unskilled workers, mostly due to automation; in fact, a study conducted by Professor Carl Frey at Oxford University found that...
15
Jul

What is Keynesian Economics?

By Aidan Hackett. Edited by Arjun Chandrasekar. Overview As the Great Depression set in around the world, John Maynard Keynes’ home, the UK, was particularly ill affected. Keynesian economics is often referred to as “depression economics” because...
09
Jul

What is Inflation Targeting?

By Aniket Bose. Edited By Arjun Chandrasekar Overview Inflation targeting is a central banking policy that revolves around the adjustment of the monetary policy for achieving a specific annual rate of inflation. The principle behind inflation targeting...
08
Jul

Adam Smith’s Invisible Hand Theory

By Aidan Hackett. Edited by Arjun Chandrasekar. Overview “It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own self-interest.” This...
08
Jul

Who is Adam Smith?

By Aidan Hackett. Edited by Arjun Chandrasekar. The Story Prior to the industrial revolution, the economic theory of the day was “mercantilism”. This theory posited that trade was a zero sum game – that is, for me...
01
Jul

What is GDP?

By Hrishikesh Menon. Edited by Arjun Chandrasekar. Overview GDP stands for Gross Domestic Product. It is the total market value of finished goods and services created in a country. It is also an indicator of the size...
16
Jun

Monetary Policy vs. Fiscal Policy

By Aniket Bose. Edited by Arjun Chandrasekar. Overview Monetary policy and fiscal policy are the two most recognized tools used to influence a nation’s economic activity, also known as macroeconomic tools. Monetary policy is essentially associated with...
16
Jun

Inflation vs. Deflation

By Aniket Bose. Edited by Arjun Chandrasekar. Overview Inflation occurs when the prices of goods and services begin to rise, while deflation occurs when the prices of goods and services begin to decline. The balance between these...