The new economics definitions
INOMICS unveils its A-Z of economics terms
Here at INOMICS, we’ve always been dedicated to trying to help you, the economist (fledgling or otherwise) get the most out of your education and career. Whether that be offering you the best new courses and conferences, nudging you towards the perfect university degree, or helping you apply to jobs once you’re done studying, we’re there to give advice and present opportunities you may not have otherwise found.
But there’s always more we can do, and we felt the time was ripe to expand our help section to try and give even more value to young economists who are just starting out in the game. So without further ado, we’re proud to unveil our new A-Z of economics terms.
Our A-Z is simple - we have professional economists write accessible but in-depth overviews of some of the most important economic terms that you will need for your studies. Starting out, we are focusing on microeconomics terms, but soon we will be expanding to macroeconomics, environmental economics, and every other type of economics you can think of. They aim to offer an insight into exactly what the term means, put it into context to make it easy to understand, and give a brief insight into where the term has been used and where you can find more academic information on the concept.
First, head to inomics.com and take a glance at our header navigation. Hover your mouse of the section ‘Insights’ and you’ll see a drop down menu with the option listed ‘Economics Terms A-Z’.
Give that a click and you’ll be taken to our list of all economic terms, handily listed by the first letter of the term, making it easier to find exactly what it is you’re looking for.
And if you go further and click on an actual term, you’ll be able to see all the information about that term, including links through to any related definitions which we think help explain certain concepts which have been referred to. Let’s have a look at one example, adverse selection (long picture incoming):
As you can see, this definition of adverse selection includes a brief, one or two sentence definition at the top, followed by a longer, more in depth definition with examples. Then some further reading is recommended which can help to expand your knowledge even more, and finally, a ‘Good to Know’ section which offers tips on how to avoid common potholes when using a term and explains some of the more tricky aspects a definition may have. Right at the bottom of the page we recommend some related terms which may be useful knowing. Watch out, too, for some of INOMICS' very own video explanations which will be appearing with some of the definitions in the coming weeks!
So there you have it! INOMICS’ new Economic Terms A-Z is a godsend for anyone currently studying their economics degree and needs an accessible but thorough overview of tricky economics terms. Written by professional economists with experience at doing stuff like that, it’s a great addition to our Advice section, which offers economists tips in their studies and jobs. Confusing term getting you down? Head to INOMICS for an explanation!
- Recognising What Matters Most
The UK COVID-19 Recovery and the Case for Community Wealth Building
'The greatest science policy failure for a generation’ is how the editor of The Lancet, Richard Horton, described the UK’s COVID response last June. It was a widely shared sentiment – made credible by the UK having one of the highest death rates in the western world. Fast forward to the present, and the government has finally claimed a ‘much needed win’ – a big one, too.
- Decisions, Decisions, Decisions
Pros and Cons of Being A College Professor
If you're thinking about which direction to take your research career, one possibility is the professor route, teaching and researching in a university context. This is one of the most desirable jobs among young academics, and something that people often strive for. But what are the pros and cons of working as a college professor?
- Keep Connected
The Top Apps for Economists
In spite of all its distracting qualities, your phone is one of the most useful tools you’ve got, whether you’re studying or working in the field. It’s simply a question of how you use it. With this in mind, we have compiled a list of the apps that – we at INOMICS believe – are best placed to support both your studies and research. To make the most of them, maybe think about uninstalling messenger, too.