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- Economist Profiles
- Posted 1 week ago
Alfred Marshall
Alfred Marshall is a famous economist who made great contributions to the field when it was still relatively new towards the end of the 19th century. Yet, students often learn about important figures in economics only briefly and in passing, although the content taught in economics courses often comes from brilliant economists such as Marshall.
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- Economic Schools of Thought
- Posted 1 month ago
Austrian Economics: Historical Contributions and Modern Warnings
There are many schools of thought in economics. Each rallies around one or more different theories about how the world works, and builds models to support those theories and explain the economy. These schools include the (neo)classical, (neo)Keynesian, monetarist, and Chicago schools. Readers may have heard about the Austrian school of thought as well.
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- Metal, Markets, & More!
- Posted 1 month ago
The economics of heavy metal music
Economics can be used to study almost anything, including popular music. For example, the late Alan Krueger analyzed the music industry, examining live concert revenue, copyright protection, and streaming services in the book Rockonomics. Similarly, economics can offer insights about heavy metal specifically, a type of rock music characterized by loud distorted guitars, intense rhythms, and powerful vocal styles.
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- Economics Books
- Posted 3 months ago
Book Review: “Booms and Depressions”
The 1932 book "Booms and Depressions" by Irving Fisher, along with his 1933 Econometrica paper "The Debt-Deflation theory of Great Depression" earmarked the start of a new era for modern macroeconomics and financial literature. This article reviews the book in light of the current economic and financial scenario.
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- Economist Profiles
- Posted 4 months ago
Adam Smith
Students often learn about important figures in economics only briefly and in passing, yet the content taught in economics courses often comes from brilliant economists such as these.
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- Santa Claus is Coming to Town
- Posted 5 months ago
The Best Christmas Gift Ideas for an Economist
The holiday season is coming and Christmas is just around the corner. If you want to avoid buying presents for the holidays in a panic, you had better get to planning the gifts you'll be giving.
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- Economists & Prizes
- Posted 7 months ago
2023 Nobel Prize in Economics - The Winner
The famous 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, colloquially known as the Nobel Prize in Economics, has been awarded to a Harvard University economist this year: Dr. Claudia Goldin. The prize – worth 11 million Swedish crowns, or about $1 million or roughly €949.000 – was awarded to her by the Royal Swedish Academy of Sciences “for having advanced our understanding of women’s labour market outcomes…Her research reveals the causes of change, as well as the main sources of the remaining gender gap.”1
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- Economists Can Joke, Too
- Posted 7 months ago
Why So Serious? 10 Hilarious Economics Jokes to Lighten the Mood
Are you feeling overwhelmed by the complexities of economics? Do you need a break from the serious and often confusing world of resource distribution, scarcity, and production? Look no further! We have collected 10 hilarious economics jokes that are sure to bring a smile to your face. So sit back, relax, and get ready to laugh!
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- Economics Careers
- Posted 7 months ago
The Job Outlook for Economists in the US
Being (or becoming!) an economist probably seems like a good idea. After all, you’re reading the INOMICS Blog! Beyond reading relevant advice and interesting articles, it can be helpful to have real data to answer questions about the job market for economists.
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- A Win for Science
- Posted 8 months ago
Scientists rejoice: the UK rejoins the Horizon Europe programme
International cooperation is important for economic growth, because it allows societies to grow more than they could on their own. When countries specialize in the economic areas they are relatively more productive in (utilizing their comparative advantages) and trade with other nations, everyone is made better off.
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- Economist Profiles
- Posted 8 months ago
John Maynard Keynes
Students often learn about important figures in economics only briefly and in passing, yet the content taught in economics courses often comes from brilliant economists such as these.
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- Into the Economist's Mind
- Posted 8 months ago
The INOMICS Questionnaire: Fratzscher vs Wursten
Professor Marcel Fratzscher, esteemed macroeconomist and president of the DIW Berlin, once again asks questions about economics and life in general to a peer in the field. This time, he has the pleasure of being joined by postdoctoral researcher Dr. Jesse Wursten, who generously agreed to take the hot seat in this exchange. Thus, the back-and-forth has been dubbed Fratzscher vs. Wursten, as is tradition. What follows is a conversation that offers insight into some of the challenges of balancing family with an economics career, the usefulness of economists when it comes to analyzing policy externalities, and more.
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- Cryptocurrency
- Posted 8 months ago
Assessing Cryptocurrency's Potential to Overthrow the U.S. Dollar's Dominance in the Financial System
For decades, the U.S. dollar has reigned supreme as the world's primary reserve currency. Its dominance can be attributed to several factors, including the size and stability of the U.S. economy, the political influence of the United States, and the widespread acceptance of the dollar in international trade and finance. The dollar's status as the de facto global currency has significant implications for the functioning of the global financial system.
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- AI and the Economy
- Posted 8 months ago
A primer on how popular AI models work and their current limitations
Artificial intelligence tools are becoming more and more ubiquitous with each passing week. The development of ChatGPT-3.5 in particular launched conversations about the capabilities of AI into the mainstream. Since then, news stories and speculation about AI supplanting (and sometimes replacing) human workers continue to be released. The economics of AI is, as a result, becoming an important topic in our field.
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- Graduate Admissions
- Posted 9 months ago
The GRE is changing: ETS to streamline the test in September 2023
The Graduate Record Examinations, more commonly known as the GRE, is one of the most important standardized tests in the world for admission to post-Baccalaureate programs. It’s very often required by universities when considering admission into their Master’s or even PhD programs.
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- Economic Geography
- Posted 9 months ago
The Challenges Faced by Small Island Economies
Islands bring to mind a particular vision of beaches, coconuts, and relaxation that’s hard to beat. Many people think of them as the ultimate vacation destination, and indeed tourism is important for many islands. Yet due to their unique geography, most islands in the world face a set of economic challenges that many mainland nations don’t experience.
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- Economist Profiles
- Posted 9 months ago
Frank P. Ramsey
Students often learn about important figures in economics only briefly and in passing, yet the content taught in economics courses often comes from brilliant economists such as these.
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- AI and the Economy
- Posted 9 months ago
AI supports the case to introduce a Universal Basic Income (UBI)
One of the key features of the global economy is that it tends to grow over time. In fact, that growth has become something of an expectation in the modern capitalist system, where the success of corporations is often judged by their growth, even over relatively short time horizons.
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- Into the Economist's Mind
- Posted 10 months ago
The INOMICS Questionnaire: Fratzscher vs GĂłmez Pineda
The following article first appeared in the INOMICS Handbook 2023. Download the INOMICS Handbook President of the DIW Berlin and well-known macroeconomist, Prof. Dr. Marcel Fratzscher poses the questions for accomplished central banker and author Dr. Javier G. GĂłmez Pineda in this latest INOMICS interview, where we ask economists for their thoughts about life and economics. Dr. GĂłmez Pineda graciously took to the spotlight in this latest round. The interview, dubbed Fratzscher vs. GĂłmez Pineda, dives into the importance of the Lucas critique, role models for women in economics, the challenges with maintaining global financial market stability (while still allowing for growth for emerging economies), how economics can contribute to climate policy, and more.
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- Work-Life Balance
- Posted 11 months ago
Silent Success: How Quiet Quitting Can Boost the Economy
In a world where we are constantly told to hustle, grind, and push ourselves to the limit, the idea of taking it easy can seem counterintuitive. However, there is a growing movement suggesting that doing only what’s necessary at work is the best thing we can do for ourselves and for the economy. This is known as the concept of "quiet quitting".
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- AI and the Economy
- Posted 11 months ago
How will the development of AI affect the labor market?
Artificial intelligence appears to be the next truly disruptive technology poised to rock our global economy. In December 2022, ChatGPT-3 made headlines. It represented a leap forward in the capabilities of generative AI technology, pushing conversations about this new tool into the mainstream as people began to question how ChatGPT will affect the economy.
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- Economist Profiles
- Posted 1 year ago
Dr. Jeffrey M. Wooldridge
Students often learn about important figures in economics only briefly and in passing, yet the content taught in economics courses often comes from brilliant economists such as these.
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- Into the Economist's Mind
- Posted 1 year ago
The INOMICS Questionnaire: Fratzscher vs. Ditzen
In the INOMICS interview series, Prof. Dr. Marcel Fratzscher asks economists questions about their field, their opinions on economics, some of their favorite things, and more. Today we took the chance to interview Dr. Jan Ditzen, an econometrician with a robust research presence. The interview, named Fratzscher vs. Ditzen (as is tradition), enlightens us on the contributions of Hashem Pesaran, the beauty of mountain scenery, details about econometrics and why its rigor is important for economics, and more.
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- Gender Differences in Economics
- Posted 1 year ago
Publication behavior in economics – Reputation, visibility, and the gender gap
In recent times, debates on gender inequality among researchers at universities have emerged, in particular in economics. Even though leading academic societies have addressed these issues already for many years – for example, the American Economic Association has run the “Committee on the Status of Women in the Economics Profession” (CSWEP) since 1971, and the European Economic Association established its “Standing Committee on Women in Economics” (WinE) in 2003 – they appear to be persistent.
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- Into the Economist's Mind
- Posted 1 year ago
The INOMICS Questionnaire: Fratzscher vs. Tol
In this article, INOMICS interviews Dr. Richard S.J. Tol, member of the Intergovernmental Panel on Climate Change (IPCC) when it was awarded the 2007 Nobel Peace Prize and a researcher at the forefront of economics and climate policy. Dubbed Fratzscher vs. Tol as Prof. Dr. Marcel Fratzscher resumed his role as interviewer, the conversation touches on gender discrimination in economics, the increasing availability of historical data, and how climate policy can clash with economic research.
Pagination