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Money- the solution or the problem?

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I recently read an article written on the Harvard Business Review that combined the works of multiple researchers such as Edward Deci and Tim Judge and summarised their findings on the topic of money, specifically, our income and whether or not research actually proves that, as perceived by many, the higher your income, the happier […]

The Psychology of Advertising: Emotionality vs Rationality

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Advertising (or advertisement) is defined as a commercial solicitation that is a form of communication designed to sell a commodity or service. Based on persuasion, information and influence, it is a highly competitive industry as many businesses will set aside large budgets to ensure their products are marketed successfully. So what is the key to […]

The Power of Incentives

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After reading the “Armchair Economist” By Steven E. Landsburg I learnt that arguably the most fundamental statement within economics is that “people respond to incentives”. When I first read this it occurred to me that this statement was simply obvious, yet after reading onwards it seemed I underestimated the power of incentives. For example in […]

“The seemingly impossible is possible”- Hans Rosling

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In 2007 Hans Rosling, a teacher and scientist whose area of expertise is Global health gave a very insightful and inspiring Ted talk titled “New insights on poverty”. He presented graphs and statistics showing the unjust distribution of wealth; the relationship between GDP per capita and the infant mortality rates for different countries, and how […]

Taking Advantage of the Irrationality of the Human Mind

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The basis of economics is rational thinking. You would expect that many businesses follow the simplistic notion that consumers choose products which they prefer. That behind every purchase there is evidence of logical decision making, and complete insight which underpins are choices. Yet how rational was the last decision you made? The truth is, there […]

February Half-term Economics Reading

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No Country for Young People? Youth Labour Market Problems in Europe by Juan Dolado. This is a great e-book which examines youth unemployment in Europe in the recent past. It highlights the diverse experiences of the past few years and separates Europe’s economies into different categories depending upon their performance in tackling the issue of […]

Black Friday

Black-Friday

Black Friday originates from the U.S referring to the stock market crashes in the 1800s, it is a day where millions of Americans have the opportunity to buy their favourite products at potentially under half the price. It is known as the biggest shopping day globally in the largest economy in the world and it […]

E- Cigarettes

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Last week the CAP (committee of advertising practice) announced that the advertising of e-cigarettes would be allowed on British television. Prior to this e-cigarettes were not allowed to be advertised as they were considered as a cigarette and the advertisement of any tobacco related product is strictly prohibited in Britain due to the health risks […]