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item list element: How To Pick A Topic For Your Economics Research Project Or Master's Thesis
item list element: Normal Goods & Luxury Goods
item list element: Inferior Goods & Giffen Goods
item list element: 10 More Movies Economists Will Love
item list element: The Glass Ceiling and the “Leaky Pipeline” in Economics
item list element: The Gender Ratio in Economics in 2022
item list element: The Gender Pay Gap in Economics in 2022
item list element: How to Recruit Economics Students Over Christmas
item list element: Tragedy of the Commons
item list element: 30 Top Twitter Feeds in Economics and Finance
item list element: The Economics of Christmas
item list element: Student Debt Relief Applications Now Available for US Citizens
item list element: How to improve diversity in an economics department - a reflection
item list element: Recession
item list element: What to expect from an Announcement
item list element: Studying in Europe - a US American Student's Experience in Berlin, Germany
item list element: 2022 Nobel Prize in Economics - The Winners
item list element: Studying in the USA - Two (European) Student Experiences in Charlotte, North Carolina
item list element: Succeeding in the European Job Market for Economists
item list element: The Top Free Online Econometrics Courses
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How To Pick A Topic For Your Economics Research Project Or Master's Thesis
type: Article
title: How To Pick A Topic For Your Economics Research Project Or Master's Thesis
description: <a class="button" href="https://inomics.com/search?program=master-program&economics=agriculturalenvironmentaleconomics,businesseconomics,econometricsstatisticsquantitative,economicdevelopmentgrowth,economichistory,economicsystems,economicthoughtmethodology,financialeconomics,generaleconomics,healtheducationwelfareeconomics,industrialorganization,internationaleconomics,labordemographiceconomics,laweconomics,macroeconomicsmonetary,microeconomics,othereconomics,publiceconomicspolicy,urbanruraltransportationeconomics">Browse our course listings for economics Master's degrees 1. Make sure it's something you're interested in This sounds obvious, but you should make sure that the project you choose is of interest to you. If you're going to be working on a project for months or even longer, then it has to be something which you are engaged with. The best way to keep engaged is to pose a question for your project to which you want to know the answer. Think back over the lectures you've attended and the books you've read, and consider what issues you enjoyed discussing and thinking about. If there was ever a topic which you came across and enjoyed studying, but didn't have the time or resources to investigate more, this is your chance to dive deep and become an expert. 2. Get inspired by previous students' projects If you're unsure where to start, or don't know what sort of project would be appropriate for your course, it's a great idea to look at previous students' projects. In most universities you'll be able to access previous student theses in the library, so you should take advantage of this resource. While you should never copy someone else's idea, you can use it as inspiration. For example, perhaps someone has done a project on the economic implications of an international policy within a certain country. Your project could look at the implications of that same policy in a different country. Or you could look at a similar policy in a different period of history. Additi…
disambiguating description: One of the biggest and most exciting challenges of a young academic's career is coming up with that first economics research topic. Knowing how much is riding on the decision, it can also be pretty stressful. With so much to consider, we thought it would be easier to break the decision-making process down into some key points. Consideration of each will give you the best chance possible to make sure the topic of your economics Master's thesis is the right one - both for you personally and for your future career. Without further ado, read on for our advice on how to pick a topic for your economics thesis.
date posted: 2018-10-24T10:05:57Z
date modified: 2026-07-06T09:58:12Z
employment type: onsite
language: en
keywords: ma thesis
keywords: economics
keywords: economics master's thesis
keywords: economics research
keywords: thesis
keywords: Research
keywords: Academic
keywords: master's thesis economics
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Normal Goods & Luxury Goods
type: CreativeWork
title: Normal Goods & Luxury Goods
description: When consumer demand for a good follows the expected price behavior, we call it a normal good. Normal goods include most items and services that are sold. They have an income elasticity of demand greater than zero. We further subdivide normal goods into two categories; normal necessity goods that have an income elasticity between 0 and 1, and luxury goods, which have an income elasticity greater than 1. Most types of normal goods have a price elasticity of demand that is negative, because people usually demand less of a normal good as its price rises. Examples of normal necessity goods include commonly purchased items like food, everyday clothing, etc., as well as many entertainment and leisure items like concert tickets. If people’s income falls, then they will buy less of these goods. And, if the prices of these goods rise, people will buy less of them. Luxury goods are slightly different. Like a normal necessity good, when a consumer’s income rises, they will typically purchase more of a given luxury item (income elasticity is positive). But when income rises, the proportion of income consumers spend on luxury goods increases more rapidly than for necessity goods. Likewise, when consumer’s income falls, luxury goods are often the first items to be cut out of the budget. Thus, luxury goods are more sensitive to changes in income than necessity goods. Reflecting this, the income elasticity of luxury goods is greater than 1 – they are highly elastic. Luxury goods are typically very expensive, high-end items that may signal a certain social status to others, or give pride to the owner. Rolex watches, high-end sports cars, and Louis Vuitton handbags are all examples of luxury goods. They are not necessary to have, but are highly desirable, which leads to their very elastic demand. Further reading For more on normal, normal necessity, and luxury goods as they relate to the income elasticity of demand, see the article on that topic. As opposed to normal necessity and lu…
disambiguating description: The laws of supply and demand are basic economic theories that are often among the first things new students of economics learn. The law of demand states that, ceteris paribus, consumers choose to buy less of a good when its price rises (possibly by buying available substitutes), and more of the good when its price falls (price elasticity). Alternatively, consumers will usually buy more of a good when their income increases and, by extension, less of a good when their income decreases (income elasticity).
date posted: 2023-01-16T12:40:13Z
date modified: 2023-01-16T12:51:29Z
employment type: onsite
language: en
keywords: Sean McClung
keywords: Veblen goods
keywords: Economics Terms A-Z
keywords: normal goods
keywords: normal necessity goods
keywords: luxury goods
keywords: Tom McKenzie
type: terms
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
disciplines: businesseconomics
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Business Economics (JEL M)

Inferior Goods & Giffen Goods
type: CreativeWork
title: Inferior Goods & Giffen Goods
description: An inferior good is an item that consumers buy less of as their income rises; they have a negative income elasticity of demand. These goods are usually of cheaper, lower quality than comparable items that a consumer might want to buy, but can’t afford. For most inferior goods, though, price elasticity of demand behaves similarly to normal goods; when the price increases, consumers buy less of these goods. Thus, inferior goods do not violate the basic law of demand. Examples of inferior goods include cheap but unhealthy food items like instant noodles. Imagine that a consumer really likes noodles, but has a tight budget. Because of this, they eat instant noodles fairly often. As usual for most goods, when the price of instant noodles rises, the consumer will be able to afford less of them. But, when this consumer’s income rises, the consumer may be able to afford a trip to a ramen restaurant or a purchase of hand-made noodles instead of buying more instant noodles. This brings them an increase in utility, since they only eat instant noodles when they cannot afford a better noodle experience. Thus, instant noodles are an inferior good for this consumer. Although it does bring them some utility, other experiences are more preferable. As soon as the consumer has the means to get a better experience, they will demand less of the inferior one. This is just one example; most inferior goods follow this pattern, but not all. Giffen goods are one subtype of inferior goods that behave differently. They are named after Scottish statistician Sir Robert Giffen, who is credited with first describing them. Consumers buy less of Giffen goods as their income rises, as usual for inferior goods. The difference is that consumers will buy more of a Giffen good (proportionally to their income) as its price rises. Therefore, Giffen goods exhibit a negative income elasticity of demand – like inferior goods – but a positive price elasticity of demand, like certain luxury goods (specifically …
disambiguating description: Usually, consumers will buy more of an item when it becomes cheaper or when their income increases. This basic fact of economics stems from the laws of supply and demand. When demand for a good follows this typical price and income behavior, we refer to it as a normal good. But not every good follows this intuitive behavior.
date posted: 2023-01-16T12:54:10Z
date modified: 2023-01-16T13:01:27Z
employment type: onsite
language: en
keywords: inferior goods
keywords: Sean McClung
keywords: Giffen goods
keywords: Economics Terms A-Z
keywords: Tom McKenzie
type: terms
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
disciplines: businesseconomics
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Business Economics (JEL M)

10 More Movies Economists Will Love
type: Article
title: 10 More Movies Economists Will Love
description: So, it’s no surprise that there are many films that can be thought of as economics movies. Some of them might not even be explicitly movies about economics, but nevertheless discuss themes that some economists study, like strategic behavior. As a follow-up to our popular article 10 Movies All Economists Will Love, we’ve collected 10 more movies that will surely give the economist in your life something to talk about. Next time you sit down for a movie night, be sure to give the following options a try! INOMICS is a member of the Amazon Associates affiliate program and the Apple affiliate program. This article contains affiliate links, which means we may earn money through any qualifying purchases made after you click through. However, this is not a sponsored post. 1. Up in the Air Up in the Air follows a corporate downsizer and motivational speaker (named Ryan Bingham, played by George Clooney) who specializes in helping companies lay off their employees. Although Ryan does this, he wants to do so in a sensitive way, and is against a new remote termination program that the company decides to implement. The movie explores some difficult emotions that may resonate with our own careers, and challenges the philosophies of life that several characters have. For those who enjoy a more personal movie that explores the human side of the economy and ends on a hopeful note, this is a good choice. 2. The Hunger Games The Hunger Games is a popular book and movie series from the mid-2010s that follows the story of a group of teens as they fight for survival. But under its surface the movie has surprising economic depth. The entire concept of the titular Games is something of a commentary on capitalism shown by the staggering system of wealth inequality between the glitzy Capitol and each of the Districts (which specialize in producing specific goods). Moreover, the characters attempt to secure sponsors before the Games begin to improve their chances of surviving, and their actio…
disambiguating description: Economics touches every aspect of our lives, whether we know it or not. Game theory, statistics and econometrics, politics, government policy, and of course finance are all aspects of economics that affect our daily lives.
date posted: 2023-01-09T10:00:00Z
date modified: 2026-07-01T13:10:10Z
employment type: onsite
language: en
keywords: movies
keywords: films
keywords: economics movies
keywords: economics films
keywords: Sean McClung
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

The Glass Ceiling and the “Leaky Pipeline” in Economics
type: Article
title: The Glass Ceiling and the “Leaky Pipeline” in Economics
description: In the INOMICS Salary Report, we collected and analyzed survey data about economists’ careers worldwide. You can download the full report and examine the economics gender gap information in detail by downloading the Report. One key feature of gender inequality in the workplace is that equally-skilled women may be passed over for career advancements (like promotions) in favor of men. The term “glass ceiling” is a metaphor for this artificial barrier that impedes women in the workforce. This effect has been well-documented in many industries, and may explain some of the gender pay gap. Quantifying the Glass Ceiling in Economics In order to examine the following figures fairly, we must take into account the overall number of women in economics. IDEAS/RePEc estimates that 26.2% of economists are women; meanwhile, 28% of our survey respondents were women. For more information on the gender ratio in economics, see The Gender Ratio in Economics in 2022. Proportion of Women in Academic Roles in Economics In academia, women make up larger relative proportions of people in less prestigious positions. There are more women than men in Postdoc, Research Assistant and Student Assistant roles relative to their sample sizes in our data. There are a roughly representative number of women in the PhD Candidate, Associate Professor and Lecturer/Assistant Professor roles. However, proportionally fewer women than men are full Professors of Economics. Proportion of Women in Industry Roles in Economics Industry roles exhibit a similar but more pronounced pattern. Although women make up only 27% of our sample, they account for a large proportion of entry or lower-level roles, particularly traineeships and internships. Meanwhile, the amount of women who are researchers/analysts or middle managers is slightly below what would be expected if there was no gender inequality. Finally, the number of women in executive positions is a mere 7%, far below what would be expected with equality. Research…
disambiguating description: The 2022 INOMICS Salary Report allowed us to examine the field of economics across employer types, job positions, and regions. This article continues with our look at gender (in)equality in economics by examining the glass ceiling. Below, we examine this effect in academia (economists employed by universities) and industry (other employer types).
date posted: 2023-01-02T10:00:00Z
date modified: 2026-07-01T13:11:07Z
employment type: onsite
language: en
keywords: leaky pipeline in economics
keywords: gender inequality in economics
keywords: Sean McClung
keywords: glass ceiling in economics
keywords: leaky pipeline
keywords: Glass Ceiling
keywords: gender inequality
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

The Gender Ratio in Economics in 2022
type: Article
title: The Gender Ratio in Economics in 2022
description: In the INOMICS Salary Report, we collected and analyzed survey data about economists’ careers worldwide. You can download the full report and examine the economics gender gap information in detail by downloading the Report. The Gender Ratio in Economics Compared to STEM fields Historically, economics has been a male-dominated field. IDEAS/RePEc estimates that 26.2% of economists are women. Meanwhile, 28% of our survey respondents were women. This is worth comparing to Science, Technology, Engineering and Mathematics (STEM) fields, which are notorious for being historically underrepresented by women: In the UK, according to UCAS data from 2022, 35% of STEM students in higher education are women. Computer science and engineering have the lowest proportions: in both fields only 19% of students are women. In mathematics and physical sciences, this percentage is in the 35-40% range. In our survey data, 29.7% of economists in the UK were women. According to the Pew Research Center in 2021, in the US women make up half (50%) of workers in STEM fields. However, this varies wildly by discipline; women made up 74% of workers in health-related jobs, but only 25% in computer-related jobs and 15% in engineering jobs. Among our survey respondents from the US, 32% are women. In the EU, 34% of STEM graduates were women in 2022. Out of the 27 EU countries, 22 have more male scientists than female. Eurostat data from 2021 shows that 41% of scientists and engineers in the EU are women, up from 32% in 2008. Our survey suggests there are fewer female economists in the EU: 31.3% of economists who responded to our survey from the EU were women. According to UNESCO Bangkok in 2020, in East Asia women made up 23.4% of research positions in STEM, while in South and West Asia women made up only 18.5% of these. The Brookings Institute reports (based on UNESCO data) that in sub-Saharan Africa in 2022 women made up 18-31% of science researchers. In our survey data of economists, 16.1% of respond…
disambiguating description: In late 2022, the field of economics came under additional scrutiny for its unequal treatment of women. This article will examine the relative share of women in the field of economics, complementing the analysis of our survey data in the INOMICS Salary Report. This is helpful context for other discussions of gender discrimination in economics, as many statistics can be better understood after learning about the distribution of men and women in economics.
date posted: 2022-12-29T09:00:00Z
date modified: 2026-07-03T10:49:39Z
employment type: onsite
language: en
keywords: women in STEM
keywords: gender equality
keywords: gender ratio in economics
keywords: INOMICS Salary Report
keywords: women in economics
keywords: Sean McClung
keywords: gender inequality
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

The Gender Pay Gap in Economics in 2022
type: Article
title: The Gender Pay Gap in Economics in 2022
description: Two quick notes before diving in – first, 99.8% of our 1,316 survey respondents identified as either male or female, so we will only consider these two genders in this article. Second, the numbers in this article have been adjusted with 2021 purchasing power parity data taken from the OECD, so some numbers in this article may not match their counterparts in the full Report. In the INOMICS Salary Report, we collected and analyzed survey data about economists’ careers worldwide. You can download the full report and examine the economics gender gap information in detail by downloading the Report. Overall Economics Pay Gap According to our survey data, male economists are paid 23.1% more than female economists on average. This broad figure is a worldwide average for economists at a wide variety of career stages and levels of education. How does the gender wage gap vary when we take a closer look? Gender Pay Gap by Highest Degree Held For PhD economists, men earn 20.4% more than women. For economists with a Master’s degree, this figure is 20.8%. Average Economist Wage by Gender and Degree Gender Pay Gap by Employer The gender pay gap varies substantially by the type of employer. Research institutions feature average pay that is higher for female economists on average. Unfortunately, this is the exception rather than the rule. Most employers exhibit a pay gap in favor of men. The worst offenders are private companies, governments, and universities, which show gaps of more than 20% each. Private businesses have the largest pay gap by gender, at almost 35% in favor of men. Wage Gap by Employer Type All of the preceding figures are worldwide averages. How does the pay gap change when examining specific regions? Average Regional Economist Wages by Gender and Degree The above graph shows a clear trend in most regions. Male economists with PhDs are paid the most, followed by female economists with PhDs, male economists with Master’s degrees, and female economists with Master’s …
disambiguating description: That gaps exist in economists’ pay and career attainment due to gender discrimination is not news. This article will discuss the findings of the 2022 INOMICS Salary Report as they relate to the gender pay gap in economics. Unless stated otherwise, the facts and figures in this article are taken from our 2022 survey data. INOMICS has previously published reports on the gender pay gap, but this is our deepest dive into the topic yet.
date posted: 2022-12-22T22:20:14Z
date modified: 2026-07-03T10:51:11Z
employment type: onsite
language: en
keywords: economist wages
keywords: INOMICS Salary Report
keywords: gender inequality in economics
keywords: Sean McClung
keywords: Gender Inequality
keywords: Gender wage gap
keywords: wage gap in economics
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
disciplines: finance
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Finance

How to Recruit Economics Students Over Christmas
type: Article
title: How to Recruit Economics Students Over Christmas
description: Because many department budgets are cut off at the end of the year, there is also additional pressure to spend all of your allotted funds while maintaining value for money. When you consider that eight in ten people are influenced by web content before making a purchase over the holiday season, it's clear that keeping up your marketing in December is vital. What lessons can we learn from adopting festive marketing approaches in other fields to recruiting economics students - be it for full study programs or online courses or professional training for those about to leap into the job market? To help you in your quest for increased engagement, here we explore the tips, tactics and strategies to help increase your presence over the holidays. Move Your Promotion Forward Don’t hold off advertising your program, course, scholarship, or whatever opportunity you want to promote. If you are not visible online, how do you expect people to find you? With students starting earlier and earlier each year to find their next step, posting during the holidays is vital. Especially as the winter break often gives people enough time and mental energy to research future opportunities. TIP: Sign up for our Customer Newsletter and get sent our exclusive December Offer with significant discounts on a post on INOMICS. Create engaging Christmas content Without a doubt, by creating engaging, inspiring and valuable content aimed at a specific target audience, you stand to increase student engagement exponentially. Through researching current seasonal trends, exploring your data, developing student personas and developing content ideas in a collaborative environment, you’ll create the kind of festive content that will drive students to your university’s website and offerings. Creating informational blog posts, infographics, or whitepapers and humorous, inspirational or nostalgic video content (and sharing it at optimum times during the holiday season) will help spark the interest of potential s…
disambiguating description: While there is a slight slowdown in the immediate period surrounding Christmas and New Year, December is still prime recruitment season and it would be a mistake to wind down your campaigns too early
date posted: 2018-12-20T14:41:13Z
date modified: 2026-07-06T09:59:35Z
language: en
keywords: seasons
keywords: student engagement
keywords: recruitment
keywords: winter
keywords: student recruitment
keywords: christmas
keywords: xmas
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: socialscience
disciplines: business
disciplines: digitization
disciplines: psychology
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Digitization
discipline labels: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)

Tragedy of the Commons
type: CreativeWork
title: Tragedy of the Commons
description: The Tragedy of the Commons is similar to the Prisoner’s Dilemma. In both scenarios, individuals could be made better off if they cooperated. However, private incentives prevent them from doing so, because each player’s dominant strategy is not to cooperate. In both cases, this results in a non-cooperative Nash Equilibrium. One key difference between the two is that Prisoner’s Dilemma scenarios usually refer to situations where participants face an all-or-nothing decision, know their “opponent”, and strategize accordingly. Meanwhile, Tragedy of the Commons scenarios usually refer to collective action problems where individuals may not know each other. Further, these participants usually have a much harder time understanding or measuring how their actions affect others. Tragedy of the Commons scenarios also tend to entail longer time periods and include more participants than Prisoner’s Dilemma examples. An example of a Tragedy of the Commons scenario is fishing in the ocean. The ocean is a vast resource that many nations in the world have access to. It holds an abundant but finite supply of fish. Crucially, nobody owns the ocean, and it is very difficult for one nation to prevent another one from fishing. Each (coastal) nation’s fishing industry can freely access the ocean and send out fishing boats, where the only costs it must pay are the cost of its own fishing equipment and labor. Then, if this nation maximizes its profit function from ocean fishing, it will choose a privately optimal level qi. But, if every nation chooses to fish its own qi, the supply of fish in the ocean will be reduced below the replacement level (the point at which the supply of fish in the ocean will naturally replenish itself). This leaves fewer and fewer fish left in the ocean each year, making everyone worse off. Let’s assume in this example that the replacement level is also the socially optimal level of fishing qo. Then, the sum of all qi, q1 + q2 + … + qN > qo, which means that societ…
disambiguating description: In economics, the Tragedy of the Commons is a scenario in game theory. It’s a situation where a commonly shared resource is over-exploited because the users of the resource do not have a private incentive to maintain it. But, if nobody maintains the resource, everyone is made worse off than if it had been maintained.
date posted: 2022-12-21T16:47:11Z
date modified: 2023-07-14T13:07:25Z
employment type: onsite
language: en
keywords: Game Theory
keywords: Nash Equilibrium
keywords: Sean McClung
keywords: Environmental Economics
keywords: Tragedy of the Commons
type: terms
disciplines: politics
disciplines: internationaleconomics
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: socialscience
discipline labels: Politics
discipline labels: International Economics (JEL F)
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Economics and Social Sciences

30 Top Twitter Feeds in Economics and Finance
type: Article
title: 30 Top Twitter Feeds in Economics and Finance
description: On economics Twitter, anyone can challenge big name economists whom they otherwise wouldn’t have access to, promoting discussion. Many early-career researchers use the platform to share their job market papers, get in front of would-be employers, and advertise conference panels they are attending. Importantly, Twitter has also been a forum to call out abusive behavior against female economists with #EconMeToo. Although Twitter’s issues since Elon Musk took ownership of the platform have been widely publicized, no platform has yet achieved its level of reach and usability. Mastodon is one alternative that is becoming more popular, especially within well-defined niches like economics, but lacks the scale of Twitter. Whether you’ve been Tweeting since the site began or you’ve never sent a tweet, this list of thirty top economics and finance Twitter feeds includes many economists and organizations whose insight might be interesting for you. It includes institutions, individuals and groups from across the political and academic spectrum. In addition to this list (which is offered in no particular order), we of course encourage you to stay up to date with us @INOMICS. 1. @jenniferdoleac - Jennifer Doleac is an economics professor at Texas A&M University, host of the Probable Causation Podcast, and has been at the forefront of documenting #EconMeToo and pushing for meaningful action to stop the wide-scale abuse of female faculty and students. 2. @Mylovanov - Tymofiy Mylovanov is the President of the Kyiv School of Economics and Tweets of his daily experiences of running the school during the war and the daily threat of rocket attacks. 3. @Wootenomics - Econ Educator & UG Director at Virginia Tech who is the author of Parks and Recreation and Economics, which explains the foundations of economics through NBC’s hit TV show Parks and Recreation. 4. @rethinkecon - This Twitter handle shows students coming together to challenge their economic curricula and demand for better in …
disambiguating description: Over the years, Twitter has become a useful and prominent tool within the social media fabric, particularly for professionals looking to network and make connections. Many renowned economists use Twitter, and economics researchers often post research updates using the #EconTwitter hashtag.
date posted: 2014-09-14T22:00:00Z
date modified: 2026-07-03T10:54:10Z
employment type: onsite
language: en
keywords: twitter
keywords: economics
keywords: Social Media
keywords: online
keywords: Online resources
keywords: finance
type: blog
disciplines: economics
disciplines: financialeconomics
disciplines: socialscience
disciplines: generaleconomics
disciplines: finance
disciplines: economicthoughtmethodology
discipline labels: Economics
discipline labels: Financial Economics (JEL G)
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Finance
discipline labels: Economic Thought & Methodology (JEL B)

The Economics of Christmas
type: Article
title: The Economics of Christmas
description: In an earlier post we showed which countries spend the most and on what. This article will concentrate more on the economic arguments for and against the Christmas season. Without further ado, read on for our list of interesting economics articles and arguments about Christmas. 1. The paper “Present values: The Economics of Christmas” by Frontier Economics describes how game theoretical concepts such as signalling, sequencing and reciprocity can be applied to Christmas and what deadweight loss is caused while buying presents. 2. “Commerce Claus” tells the reader how Christmas gift-giving helps commit a major sin in economic theory – destroying value. Nevertheless, we’ve compiled our list of gift ideas for the economist in your life; ‘tis the season, after all! 3. Learn about fake vs. real Christmas trees and the whole industry behind it in the Economist’s article “Christmas tree wars: Making fir fly”. 4. “The economics of Christmas presents” describes how one can model the utility function of agents giving and getting gifts. It argues that gift-giving is not a waste by accounting for the surprise factor and how different people react to receiving gifts. 5. Chris Snowdon from the Adam Smith Institute gives an opposite opinion on the above topic in his post “The economics of Christmas”. He suggests that market failure in gift-giving can not be avoided due to asymmetric information. 6. The “goods” and the “bads” of consumer spending are covered in the musical Christmas economics video “Deck the Halls with Macro Follies“ by EconStories. Made at the end of 2012, this delightful video presents the ideas of several renowned economists about savings, spending and growth. 7. Marginal Revolution University has posted their own take on the Christmas gifts debate in an informative and light-hearted video. They eventually settle on giving cash to charity as an efficient gift that also supports the holiday spirit of giving. You can watch it on their channel here. 8. The consultin…
disambiguating description: Christmas is approaching. For many people this is a magical season, filled with songs and decorations, when you hope that all your wishes come true. Others consider Christmas to be a stressful time when you need to rush around to get presents for all your friends and family.
date posted: 2013-12-22T23:00:00Z
date modified: 2026-07-03T10:56:54Z
employment type: onsite
language: en
keywords: economics
keywords: Christmas
keywords: Behavioral economics
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Student Debt Relief Applications Now Available for US Citizens
type: Article
title: Student Debt Relief Applications Now Available for US Citizens
description: To qualify for the debt relief, applicants must have an annual income less than $125,000. Borrowers who received a Pell Grant are additionally eligible for another $10,000, for a total possible relief amount of $20,000 (Pell Grants are a type of need-based aid reserved for low-income students in the US). The applications are available in English and Spanish, and are notably simple and easy to complete. The information required to apply for the forgiveness is mainly simple demographic information, and takes only a few minutes. Applicants will not have to dig up obscure documents, find original certificates, or even provide banking information. As such, we recommend that any readers from the United States with outstanding student loan debt complete the application. It can be found at the US Department of Education’s Federal Student Aid office’s website (StudentAid.gov), until applications close on December 31, 2023. Eligible borrowers living abroad have reported difficulty submitting the application, as the official government website appears to deny access to the application on devices outside the United States. If you are experiencing similar issues, using a VPN to submit the application appears to work. Alternatively, the application is simple enough to allow a friend or relative in the US to submit the application in your stead, though you must provide valid contact information. Student loan repayments were originally suspended during the COVID-19 pandemic, due to the economic uncertainty that the pandemic wrought. This suspension has been repeatedly extended by the federal government in the time since. It is unclear if the debt relief will be available for borrowers by the time payments are scheduled to resume. Arguments for and against the debt relief Sentiments about the student loan forgiveness are mixed. Proponents of the plan say that it is a step in the right direction to alleviate the massive amounts of federal student loan debt that plague US consumers. A…
disambiguating description: In late August 2022, US President Joe Biden fulfilled a campaign promise by announcing that the government would be providing US citizens with student loan debt-relief. US citizens can apply for up to $10,000 in debt cancellation via this loan forgiveness program. On October 17th, 2022, the US Department of Education opened up applications on StudentAid.gov.
date posted: 2022-11-24T10:47:57Z
date modified: 2026-07-03T10:59:10Z
employment type: onsite
language: en
keywords: Loan forgiveness
keywords: United States
keywords: Student Debt
keywords: Joe Biden
keywords: Sean McClung
keywords: Student debt relief
type: blog
disciplines: politics
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
disciplines: finance
discipline labels: Politics
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Finance

How to improve diversity in an economics department - a reflection
type: Article
title: How to improve diversity in an economics department - a reflection
description: It is important to have a diverse classroom in economics, because it brings richness in intellectual exchange, and because economics deals with contemporary policy issues that affect everyone – not just the visible majority. In the economics department at St. Lawrence University, a small liberal arts college in upstate New York, we considered ways to increase the diversity of our majors while improving the professional climate in our department. We developed our diversity plan in the academic year 2021-2022 and immediately started work on implementation. This brief reflection on our comprehensive approach to diversity offers some advice to academic departments who are looking to make a difference. 1. Acknowledge the problem but highlight existing strengths Before investing in diversity initiatives, it is important to conduct an honest assessment of the status quo. Using institutional data from 2011 to 2015 curated by the Federal Reserve Bank of New York, we took a critical look at the demographics of our majors and found that women tend to major in economics at lower rates, both at St. Lawrence and in our “New York 6” liberal arts college peer group. However, 21.7% of African American men at St. Lawrence major in economics, more than twice the rate of any other school in the peer group. St. Lawrence also has much higher rates for Asian American men (31.3%) and Asian American women (14.8%) than similar schools. While women remain underrepresented among our majors (5.6% of white women and 3.9% of minority women study economics at St. Lawrence), racial minorities tend to choose economics as their major at relatively higher rates and this is something to be recognized. Economics is a global profession. According to the 2020 NSF Survey of Earned Doctorates, 56.6% of US doctoral recipients in economics were temporary visa holders. Likewise, our department contains economics professors from six different countries. To capitalize on this strength, we developed a learning go…
disambiguating description: Economics is a popular major in the US, but relatively few women and historically underrepresented minority students choose it as their field of study. This reality is reflected in stagnant US graduation trends; women earn approximately 30% of bachelor’s degrees in economics, and Black, Hispanic, and Native American students earn less than 15%.
date posted: 2022-11-23T15:41:16Z
date modified: 2024-02-15T21:30:24Z
employment type: onsite
language: en
keywords: Sahar Milani
keywords: economics department
keywords: women in economics
keywords: diversity in economics
type: teach
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Recession
type: CreativeWork
title: Recession
description: Causes of a Recession Recessions are natural phases of the business cycle that can “cause” significant economic damage (the underlying cause of any given recession is what affects economic outcomes, not the label “recession” itself). Almost always during a recession, productivity and employment fall. Lower output and lower employment translate to lower economic growth and less overall utility. Usually, consumer spending falls as well, especially as demand for non-essential goods and services declines. Recessions are often caused by a mixture of exogenous and endogenous factors. When different factors in an economy create a negative feedback loop, these factors may feed into each other and lead to a full-blown recession. In this case, the causes are endogenous, because they occur due to interactions of market forces and market participants. An example is the Great Recession of 2008, which began due to moral hazard-induced risky lending behavior (among other market-related factors). In short, banks packaged high-risk loans together and sold them, leading to a market with over-valued assets. Once people began to default on their loans, many of these assets were revealed as worthless as the housing bubble burst. This led to a series of bank crises that crashed the world economy. Other times, a recession can be prompted by an external, or exogenous, event that isn’t caused by market forces – like a drought. These events can cripple the economy’s ability to function normally, and are often depicted in economic models as negative shifts of aggregate demand or supply. Regardless of its cause, the welfare impact of a recession is not evenly distributed. People who lose their jobs due to a recession will find their well-being severely reduced, while some individuals may even benefit. For example, wealthy individuals can sometimes utilize a recession to buy property or capital at cheaper rates than during normal economic times. Identifying a Recession One often-touted method t…
disambiguating description: In economics, a recession is a period of time with a prolonged or significant decline in economic activity. This can involve high levels of unemployment and inflation, and cause many people to experience economic distress. Although this term is used by politicians and laypeople frequently, economists may disagree about when a recession is occurring.
date posted: 2022-11-23T16:47:28Z
date modified: 2024-04-04T19:26:17Z
employment type: onsite
language: en
keywords: Sean McClung
keywords: Recession
keywords: Economics Terms A-Z
type: terms
disciplines: economichistory
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: generaleconomics
disciplines: businesseconomics
discipline labels: Economic History (JEL N)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Business Economics (JEL M)

What to expect from an Announcement
type: Article
title: What to expect from an Announcement
description: Each Announcement level includes different levels of promotion that alters how it is listed on the website, included in emails to our subscribers and on our social media channels. Higher Announcement levels also offer more media options (videos, images) as well as improved appearance and layout. Which Announcement level should I book? Basic A Basic Level Announcement is for recruiters, administrators or faculty with limited budgets who just need to get an upcoming job, conference, workshop, or scholarship online. The listing will include your logo, be searchable on our website and feature in one Email Alert (sent to over 70,000 economists) and one automated post on Facebook and Twitter. But the clue is in the name, this is our Basic tier. Your Announcement will include no additional images and it will typically appear below Standard, Featured and Premium Announcements. It will also drop in visibility more quickly than the higher options. We therefore recommend that all customers consider one of the higher levels. Standard We would encourage all job, conference, workshop, or scholarship posters in particular to take the step up and pick the Standard Level Announcement. On top of your logo inclusion, email alert and social media posts, you can also include an image gallery which significantly increases engagement and search-engine visibility. Additionally, your listing will be seen across our website in our Mini (sidebar) Banners and users can enable Deadline Reminders for your opportunity, giving a visibility boost on the website and in the email alert in the final week before your deadline. On average, a Standard Announcement generates three times more views than a Basic Announcement. However, if you are posting a study program or professional training course where branding and media is important in your communication, or if you have a position that is difficult to fill and need a wider reach, then our Featured and Premium Levels help your Announcement reach as many…
disambiguating description: On inomics.com, we offer 4 different Announcement levels to suit your goals and budget: Basic, Standard, Featured and Premium. What should you expect from each Announcement Level?
date posted: 2019-06-07T11:29:38Z
date modified: 2026-07-06T10:02:27Z
employment type: onsite
language: en
keywords: Inside 11AN
keywords: Inside INOMICS
keywords: 11 academia networks
type: advice
disciplines: economics
disciplines: artarthistory
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Art & Art History
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Studying in Europe - a US American Student's Experience in Berlin, Germany
type: Article
title: Studying in Europe - a US American Student's Experience in Berlin, Germany
description: 1) What is your degree in/what are you studying? Masters of Science in Business Administration. I will write my thesis with the Management chair. 2) What has been your favorite economics course and why? I have a couple favorite economics courses; namely, Game Theory, European Economic History 1 and 2, and Geography and Growth. What I like about all these courses is that they are challenging and relate directly to human behavior. All of these courses provide one with a new lens to view and understand the world. I particularly liked the European Economic History courses, because it helped me to understand how we came to our current (European) world. This is particularly interesting for a native US-American, as I grew up with history focused around the USA. Meaning, I had a basic knowledge of European history, and of other continents for that matter. It is interesting to learn about history from not only another continent/country’s perspective, but also from an economic perspective. <11an>limit:3;categories:Programs;disciplines:Economics</11an> 3) Were you surprised by anything? What was unexpected about studying in Germany or Europe? Naturally, there are differences between studying in Germany (or Europe) compared to the USA. However, I am always curious and open to experiencing something new; so I seldom feel surprised, rather fascinated, when I am met with a new experience. I guess, besides the differences in tuition, I was most intrigued to experience the difference in how universities are organized. In the USA, every student is assigned an advisor who recommends classes based on your interests and who emails you reminders for class enrollment deadlines. In Germany, perhaps because tuition is less expensive and, therefore, may have fewer resources to provide such extra assistance, every student is in charge of their own studies. I love it. Every student takes on the responsibility of choosing their own classes, finding out their own deadlines, etc. There is a feeli…
disambiguating description: INOMICS has had the opportunity to interview several international students and learn about their experiences studying abroad. For this article, we interviewed Alexis. She's from the US-Midwest and moved to Germany in February 2020. She is currently finishing up her Master’s program in business administration at Humboldt Universität zu Berlin, and will then be looking for a job to stay in the country. Below we’ll share her advice for other international students, experiences about studying in Germany, and more! If you’re from the US - or anywhere else - and curious what it’s like to study in Europe, read on.
date posted: 2022-10-17T14:06:40Z
date modified: 2026-07-06T10:07:22Z
employment type: onsite
language: en
keywords: Student Experiences
keywords: Study in EU
keywords: Study in Germany
keywords: Berlin
keywords: Study in Europe
keywords: Study in Berlin
keywords: study abroad
keywords: Sean McClung
keywords: Germany
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

2022 Nobel Prize in Economics - The Winners
type: Article
title: 2022 Nobel Prize in Economics - The Winners
description: This article gives an overview of the work that won these economists the Prize, and a brief bio for each economist. You can read more about the reasoning behind the awarding of the Prize from the Royal Swedish Academy of Sciences’ press release page. The Research that Won This Year’s Prize Diamond and Dybvig conducted research that illuminated the role of banks as intermediaries. Their groundbreaking paper published in the Journal of Political Economy in 1983 develops the Diamond-Dybvig model, which is widely cited and still in use today. Banks have a unique role in the economy; consumers save their money in banks for safekeeping, and to grow their wealth. At the same time, borrowers want to use this money to build, invest, and otherwise fuel their economic activity. Banks use consumers’ savings to become lenders to these borrowers. Diamond and Dybvig’s research showed that banks are the optimal way for the economy to carefully balance the needs of savers (or lenders) and borrowers. Diamond additionally argued that this position makes banks the best entity in the economy to assess creditworthiness of borrowers, and thus to make decisions about which investments are good enough to invest society’s money into. Problems for a bank can arise when savings are demanded back by the lenders who need their money for an unexpected circumstance; banks do not actually hold all of their reserves in liquid form. A bank run occurs when too many consumers demand their money back from the bank than it is currently holding. This can cause a bank to fail. Ben Bernanke, in his analysis of the Great Depression of the 1930s, showed that bank runs were an important reason that the Depression grew so severe. One key reason for this is that when banks fail, the information they contain about consumers’ creditworthiness can be lost. This information loss makes it more difficult for society to allocate savings to the best investment opportunities, limiting opportunities for economic growth. A…
disambiguating description: The prestigious 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, better known as the Nobel Prize for Economics, has been awarded to three American economists: Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig. The prize, awarded by the Royal Swedish Academy of Sciences, was given to these economists for their contributions to “research on banks and financial crises”. The Prize notes that these three economists laid the groundwork for this research in the early 1980s.
date posted: 2022-10-13T09:34:50Z
date modified: 2026-07-03T11:02:38Z
employment type: onsite
language: en
keywords: Ben Bernanke
keywords: Nobel Prize
keywords: Philip Dybvig
keywords: Sean McClung
keywords: Douglas Diamond
keywords: Nobel Prize in Economics
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Studying in the USA - Two (European) Student Experiences in Charlotte, North Carolina
type: Article
title: Studying in the USA - Two (European) Student Experiences in Charlotte, North Carolina
description: If you want to know what it’s like to study in the US - in terms of academic structure, culture, and life in general - then read on. 1) What is your degree? Why did you choose to study in the US? Lenka: I am pursuing a Master's degree in Data Science and Business Analytics. I always wanted to study abroad, and the US seemed like a good opportunity. I decided based on language (I wanted to go to an English speaking country) and major (I wanted to study Data Science; a similar program was opened in the Czech Republic at that time, but I wanted to study a program that already had some tradition). The University of North Carolina at Charlotte (UNCC) was a good fit for all my requirements. Adam: MA in communication - it was not a decision about going to the USA or not going to the USA, it was more about going anywhere, about studying abroad. The USA won against other countries because of the student-athlete opportunities, and the work experiences you can get there. <11an>limit:3;disciplines:Economics;countries:United States</11an> 2) What were the cultural differences you experienced in schooling? How is education different in the US vs. back home? Lenka: Cultural Differences Students are not helping each other - in the US they do not speak with each other in the classes. I was really surprised by this. Another cultural difference was in clothing - many students wear clothes similar to pajamas in class. Back at home, people dress more business casual at universities. Also in the USA, university campuses are bigger and nicer compared to in the Czech Republic and student life in the USA is better. Education Differences Grading is more strict in the Czech Republic compared to the USA (only a few students from classes get an A, and the rest get B or C). Because of that, nobody cares about GPA in Czechia - students only try to pass exams. There we do not have many assignments during the school year. If so, we have only a few. The main focus is on midterms and the final exam. …
disambiguating description: Ever thought about studying abroad in the US? INOMICS has had the opportunity to interview two international students at two US universities and learn about their experiences doing just that. For this article, we interviewed Adam at Queens University and Lenka at the University of North Carolina at Charlotte, two students from the Czech Republic who moved to Charlotte, North Carolina in the US to study their Master’s degrees. Below we’ll share their advice for other international students, experiences about studying in the US, and more!
date posted: 2022-10-13T11:53:49Z
date modified: 2026-07-06T10:10:57Z
employment type: onsite
language: en
keywords: Student Experiences
keywords: study in the USA
keywords: Czech Republic
keywords: Czechia
keywords: United States
keywords: study in the united states
keywords: study abroad
keywords: Sean McClung
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Succeeding in the European Job Market for Economists
type: Article
title: Succeeding in the European Job Market for Economists
description: These institutions include European universities and research institutes in academia, but also many consulting firms, tech companies, think tanks, governments, and government agencies (such as the World Bank, International Monetary Fund and central banks). The EJME can appear chaotic with applicants and recruiters constantly in a frenzy of interviews, offers, rejections, ambitions, hopes and disappointments. But by coordinating the timing of recruitment activities, there is more opportunity for candidates and institutions to meet each other and to make the most advantageous matches. Finding the right job can be a life-defining moment for individuals, and the performance of institutions depends crucially on the people they employ. Each year, around 1000 candidates and 200 institutions from Europe and beyond join the EJME, devoting enormous amounts of time and energy to get these matches right. The EJME calendar The EJME recruiting season starts in September/October when recruiters advertise their job openings for the next academic year. At the same time, candidates put together their job market ‘packages’ including their CV, research output (usually in the form of a specific job market paper [JMP]), reference letters and, increasingly, a personal website. Candidates apply for (usually many) posts throughout the autumn and, having reviewed their documentation, recruiters invite candidates for first-round interviews. In pre-Covid times, these were face-to-face and took place in a European city, but they have been online over the last couple of years. This will be the case again in 2022. Whether online or face-to-face, the first round of interviews takes place over a few days in mid-December so that there is some coordination in the timing of decisions being made by candidates and recruiters. A typical university department might interview as many as 30-40 candidates in this first round. Around seven or eight of these candidates might then be invited for “fly-outs” wher…
disambiguating description: The European Job Market for Economists (EJME) takes place annually. It aims to ensure that economics students who are about to complete (or have recently completed) their PhD make the best possible job match with institutions recruiting research economists.
date posted: 2022-10-07T12:59:32Z
date modified: 2026-07-06T10:18:04Z
employment type: onsite
language: en
keywords: economics jobs
keywords: inomics
keywords: Economics Network
keywords: economics job market
keywords: EJME
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

The Top Free Online Econometrics Courses
type: Article
title: The Top Free Online Econometrics Courses
description: The courses listed here don't require enrollment in an institution, and are all free of charge for at least a limited time. Many of the Coursera courses allow free enrollment, but may require a fee after a certain amount of time has passed. So, no matter where you are (in your home) - at your kitchen table, armchair, or even in bed - you can have econometrics taught to you by some of the top professors, hailing from some of the world's leading universities. The courses here are all econometrics related, though some cover introductory statistics, which is a necessary prerequisite to understand econometrics. All the courses are available in English and are targeted at various different levels of study. So, no matter where you are in your studies, whether you are doing a Bachelor's or a PhD, you should find something of interest. While some are open tutorials available at any time of the year, others have opening and closing dates for participation. 1. Econometrics: Methods and Applications Course Provider: Erasmus University Rotterdam/Coursera Duration: 8 weeks Background needed: The course is suitable for (advanced undergraduate) students in economics, finance, business, engineering, and data analysis, as well as for those who work in these fields. 2. The Classical Linear Regression Model Course Provider: Queen Mary University of London / Coursera Duration: Approx. 22 hours Background needed: Introductory course, no experience required. This is the first in a series of 4 courses: Econometrics of Economists and Finance Practitioners 3. Basic Statistics Course Provider: University of Amsterdam / Coursera Duration: 8 weeks Background needed: None; this is a beginner course that will help students get familiar with statistics. This and its following course are necessary background for econometrics coursework. 4. Inferential Statistics Course Provider: University of Amsterdam / Coursera Duration: 7 weeks Background needed: Basic Statistics, the course listed just above, i…
disambiguating description: Although the shift toward online learning pre-dated the coronavirus, the pandemic caused a great proliferation in the availability and acceptance of online learning. More and more courses can now be found online, allowing students to continue with their studies or even get credit for some courses from the comfort of their own home.
date posted: 2013-08-25T22:00:00Z
date modified: 2026-07-06T10:20:26Z
language: en
keywords: courses
keywords: economics
keywords: MOOC
keywords: online
keywords: Econometrics
type: advice
disciplines: economics
disciplines: socialscience
disciplines: econometricsstatisticsquantitative
disciplines: statistics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Econometrics, Statistics and Quantitative Methods (JEL C)
discipline labels: Statistics