The Royal Economic Society (RES) has announced that Professor Imran Rasul (UCL) is confirmed as RES President for the upcoming year.

The word "model" is used a lot in discussions about economics. However, economics courses often don’t spend a lot of time defining the word or what exactly it means. Rather, students usually end up piecing together their idea of what models are after learning several specific examples (such as the Solow-Swan or OLG models).This article fills in the gap by discussing the fundamentals of models and how they’re used in economics. There are many similarities between the myriad models utilized in the field, including common use cases and common assumptions. Understanding these commonalities will help you use and interpret economic models effectively, avoid misconceptions, and identify when these models are not necessarily relevant or useful.

Economist Biswo Nath Poudel has been appointed as the new governor of Nepal Rastra Bank (NRB), the central bank of Nepal, ending a prolonged discord within the ruling coalition of Nepal.