ItemList
number of items: 20
total items: 2598
item list element: Developing a teaching profile: Why and how?
item list element: Optimise your Recruitment Strategy for Economics PhD Positions
item list element: Lagrangian Optimization
item list element: 8 Qualities Which Will Get You Through Tough Times In Your PhD
item list element: A Post-PhD Career in Research: Jack of all Trades, Master of Some
item list element: 5 key differences between American- and European-style PhD programs
item list element: 8 Life Lessons You'll Learn Doing A PhD
item list element: How to balance your PhD and your social life
item list element: Should you prolong your predoc life?
item list element: Econometrics and Statistical Software
item list element: Production Possibilities Frontier (PPF)
item list element: The INOMICS Questionnaire: Fratzscher vs Tooze
item list element: The Economics of Settlers of Catan
item list element: Autarky
item list element: How to Find Student Accommodation in a Foreign Country
item list element: Using online games to teach economics
item list element: How to Finance Your PhD In Economics
item list element: Stagflation
item list element: Top tips for audio feedback
item list element: Hyperinflation
links:
  self: https://inomics.com/api/v1/listings/de/top/physics/professor-jobs
  first: https://inomics.com/api/v1/listings/de/top/physics/professor-jobs
  prev: https://inomics.com/api/v1/listings/de/top/physics/professor-jobs
  next: https://inomics.com/api/v1/listings/de/top/physics/professor-jobs
  last: https://inomics.com/api/v1/listings/de/top/physics/professor-jobs
  html: https://inomics.com/top/de/top/physics/professor-jobs
meta:
  total: 2598
  page: 28
  per page: 20
  total pages: 130
  generated at: 2026-08-09T10:02:55Z

Developing a teaching profile: Why and how?
type: Article
title: Developing a teaching profile: Why and how?
description: Teaching related metrics have also gained prominence. The annual National Student Survey of final year undergraduate students’ views of their programmes and universities; the greater attention paid to various national and international university rankings and the more recent Teaching Excellence Framework exercises have led to more attention being given to teaching and learning. Possibly reflecting this, there has also been a noticeable shift in the academic composition of many UK university economics departments. While historically departments recruited colleagues on research and teaching contracts, there are a growing number of departments that are recruiting academics with a greater emphasis on teaching (and administration) in their contracts. Regardless of the type of contract an academic is on, they increasingly need to demonstrate teaching effectiveness to ensure permanent contracts and promotions. In addition, a greater number of universities are also placing value on (and in some cases insisting upon) academics getting Advance HE teaching recognition in the form of Fellowship, Senior Fellowship or Principal Fellowship qualifications. As a result, academics are being asked to produce teaching profiles, teaching- focused CVs and evidence of their effectiveness as an educator. This article provides advice on how to approach writing these teaching profiles, including suggestions for the evidence to collate and include. How to evidence teaching effectiveness Academics should be consistently collecting evidence to demonstrate the quality and impact of their teaching. This information will be crucial if and when you are required to present a teaching profile, and can also be useful as a source of information (selected and probably in abbreviated form) for a teaching-focused CV. Most obviously, we should keep a record of the modules we teach each year, noting whether we take on the role of module leader, lecturer, or tutor, as well as the approximate number of studen…
disambiguating description: The increasing importance of evidencing teaching effectiveness In recent years, the UK higher education environment has noticeably changed. Research Assessment Exercises and then the Research Excellence Framework have highlighted the importance of academics not only being research- active but regularly publishing high quality outputs in internationally recognised academic journals.
date posted: 2022-09-26T13:30:54Z
date modified: 2024-02-15T21:22:14Z
employment type: onsite
language: en
keywords: Teaching profile
keywords: academic economist
keywords: Caroline Elliott
keywords: Economics Network
keywords: teaching
keywords: teaching portfolio
type: teach
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Optimise your Recruitment Strategy for Economics PhD Positions
type: Article
title: Optimise your Recruitment Strategy for Economics PhD Positions
description: Candidates can find more information in our guide on how to successfully apply to a PhD in Economics. For institutions aiming to find the best international talent for their PhD positions, the most important question is how to reach the right audience, primarily current master’s students. You don’t want to waste all your budget chasing after the wrong candidates. Unlike bachelor or master’s level, the pool of potential PhD candidates is much smaller and they will already know which discipline or disciplines their interests align with. Therefore, it's best to target your recruitment efforts and be as specific as possible. With a strong user base of current students, INOMICS is an excellent platform to publish your PhD position in economics (or a PhD position in another discipline that is open to current economics students). Additionally our active blog and advice articles, not to mention our resources for economics students means that more students find INOMICS every day. To achieve the best results from your Announcement, be sure to consider the following recommendations. Program vs Job Opening One of the main questions faced by people publicizing their PhDs on INOMICS, is whether their advert should be advertised as a program, a scholarship or a job opening. The difference is important as many candidates restrict their search by the type of offer. Programs Students who want to transfer into PhD positions straight from their Master or Diploma degree tend to look first at the program section on INOMICS, being in a “campus mentality”, and aiming to find a structured program. PhD Candidates looking for programs make up the largest audience and generate the most searches. On INOMICS, student recruiters will get the best response by promoting their program through this section. Scholarship Students primarily looking for research funding, so that they can conduct research in pursuit of a PhD at their current university, or at a research institute where they are currently …
disambiguating description: Every year, October is the peak time for future PhD candidates in economics to start applying for their first-choice positions. For those students who want to stay in their current institutions, the process may be fairly straightforward. However, for candidates seeking opportunities internationally or simply at a different university, the prospect and the process may be somewhat more daunting.
date posted: 2013-10-17T22:00:00Z
date modified: 2026-07-06T10:21:47Z
language: en
keywords: job market.
keywords: PhD Recruitment
keywords: Phd Candidate
keywords: student recruitment
type: advice
disciplines: education
disciplines: artarthistory
disciplines: theologyreligeousstudies
disciplines: molecularbiology
disciplines: nursing
disciplines: communicationsdesign
disciplines: music
disciplines: agriculturalsciences
disciplines: digitization
disciplines: softwaredevelopment
disciplines: earthscience
disciplines: materialsmetallurgicalengineering
disciplines: chemicalengineering
disciplines: electricalelectronicsengineering
disciplines: immunology
disciplines: generalengineering
disciplines: biology
disciplines: law
disciplines: environmentalenergyengineering
disciplines: othergenerallinguistics
disciplines: neuroscience
disciplines: history
disciplines: philosophy
disciplines: astronomy
disciplines: humanmedicine
disciplines: engineeringdesign
disciplines: mediastudies
disciplines: dieteticsnutrition
disciplines: pharmacy
disciplines: mechanicalengineering
disciplines: biotech
disciplines: dentistry
disciplines: mathematics
disciplines: culturalstudies
disciplines: civilengineering
disciplines: veterinarymedicine
disciplines: literaturecreativewriting
disciplines: genetics
disciplines: psychology
disciplines: dancetheatrefilmstudies
disciplines: publichealth
disciplines: physics
disciplines: archaeology
disciplines: generaleconomics
disciplines: chemistry
disciplines: engineeringbusiness
disciplines: socialscience
disciplines: business
disciplines: physiotherapy
disciplines: microbiology
disciplines: biomedicine
disciplines: informatics
disciplines: marketing
disciplines: economics
disciplines: management
disciplines: biochemistry
disciplines: cellbiology
disciplines: sociologyanthropology
discipline labels: Education
discipline labels: Art & Art History
discipline labels: Theology & Religeous Studies
discipline labels: Molecular Biology
discipline labels: Nursing
discipline labels: Communications & Design
discipline labels: Music
discipline labels: Agricultural Science
discipline labels: Digitization

Lagrangian Optimization
type: CreativeWork
title: Lagrangian Optimization
description: Often, microeconomists are interested in the optimal choice that an economic agent can make using their limited budget. For instance, what is the maximum utility someone can achieve by purchasing some combination of goods? Lagrangian optimization allows us to solve this type of problem in a rather straightforward way. First, it assumes that a budget constraint is binding. This makes sense in a world where we assume the actors are rational consumers. If someone did not use all of their money, they understand that they would become better off by using the rest of their money. A budget constraint will often look similar to q*p ≤ a, where a is the total budget, q is quantity, and p is price. For our problem, we will use the constraint q1*p1 + q2*p2 ≤ a, where q1 and q2 are two different goods each with their own prices. This shows that the total value of goods the consumer purchases must be less than or equal to the money they have. When a budget constraint like this is “binding”, that just means that the inequality becomes an equals sign. Or, in words, the consumer uses all of their money. The next step is to subtract so that the budget constraint is all on the same side of the equation, like so: q1*p1 + q2*p2 - a = 0. Now, we multiply this budget constraint by the Lagrange multiplier λ, which represents the “shadow price”. That is, when this problem is solved, the Lagrange multiplier λ shows us how much the objective function (i.e., the utility function, revenue function, etc.) changes in response to an infinitesimal change in the budget constraint. To finish setting up the problem, simply subtract this modified budget constraint from the original equation. In our case, this means the full Lagrangian optimization problem looks like this: L(q1,q2,p1,p2) = U(q1,q2,p1,p2) - λ(q1*p1 + q2*p2 - a) where L denotes a Lagrangian optimization problem, and U(q1,q2,p1,p2) is the utility function as a function of q and p for both goods. To solve this problem, we take a series of p…
disambiguating description: Lagrangian optimization is a method for solving optimization problems with constraints. The method makes use of the Lagrange multiplier, which is what gives it its name (this, in turn, being named after mathematician and astronomer Joseph-Louis Lagrange, born 1736). Many subfields of economics use this technique, and it is covered in most introductory microeconomics courses, so it pays to become familiar with it.
date posted: 2022-09-27T12:25:29Z
date modified: 2023-06-01T14:23:05Z
employment type: onsite
language: en
keywords: Lagrangian Optimization
keywords: derivatives
keywords: microeconomics
keywords: Lagrange multiplier
keywords: Sean McClung
keywords: lagrange
keywords: partial derivatives
type: terms
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
disciplines: econometricsstatisticsquantitative
disciplines: economicthoughtmethodology
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Econometrics, Statistics and Quantitative Methods (JEL C)
discipline labels: Economic Thought & Methodology (JEL B)

8 Qualities Which Will Get You Through Tough Times In Your PhD
type: Article
title: 8 Qualities Which Will Get You Through Tough Times In Your PhD
description: 1. Creative Thinking When things go wrong during your PhD program – which they surely will! – then you need to find creative solutions. If your initial analysis found no meaningful results for your primary question, did it reveal other interesting insights? If your pilot experiment didn’t work out, can you salvage the data or design a better experiment? Perhaps you couldn’t find the data you were hoping for – would finding a suitable instrumental variable help fill the gap? The process of research is really a process of learning, and if your research is new, it probably generated new knowledge. Even a finding of “no relationship” can be interesting. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> 2. Adaptability As a PhD candidate, you are an expert in some areas but inexperienced in others. In order to deal with challenges, you'll need to adapt and learn new skills. An attitude of lifelong learning is a good quality for PhD students. So, don't tell yourself that you're “not good with numbers” or “not a good writer” - instead, you'll benefit from accepting that you'll sometimes need to learn new skills or spend more time on certain aspects of your research. Asking your peers for help might be a good way to start, thus at the same time forging connections that will help you support one another through the difficult PhD process. 3. Openness As with adaptability, it's important that you are open-minded to new ideas. Don't get too attached to one idea, method, or approach to your work. It's better to consider different approaches when you're in a bind. For example, perhaps your experimental methodology didn't work out, but there might be a different methodology you could use instead. Learnings from other social sciences, both in theory and in methodology, can be helpful here. Especially if you know peers working in other disciplines, it could be very illuminating to chat with them about your research interests. 4. Ability to accept criticism It's hard…
disambiguating description: Doing an economics PhD can be full of challenges and difficulties. Here we look at some of the personal qualities that will help you continue making progress when you encounter a problem.
date posted: 2016-07-12T14:46:29Z
date modified: 2026-07-06T10:24:56Z
language: en
keywords: phd life
keywords: advice
keywords: mental health
keywords: thesis
keywords: PhD
keywords: quality
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)

A Post-PhD Career in Research: Jack of all Trades, Master of Some
type: Article
title: A Post-PhD Career in Research: Jack of all Trades, Master of Some
description: The importance of writing as communication It is indeed true that researchers like us (post-docs, research fellows, senior researchers, and so on) working in academia or in public/private/non-profit institutes spend a lot of time at their desks: writing articles, among other things. We maybe Doctors of Philosophy, but in reality, we are Masters in Writing and a few other things. This is because the demands of a researcher’s role requires us to be jacks of a lot of trades and masters in some. Writing is intrinsically connected to communication. As researchers we need to be good at communicating our thinking – what we study, why and how, and what we can (and cannot) conclude from the results – to diverse audiences. These include fellow scientists, policymakers, university administrators, and the wider public. It requires us to be as creative as the advertising professional next door. We need to learn how to crisply frame catchy titles so that articles promptly capture the attention of editors. We seek creative answers to questions such as: how do we in 200 words summarize a complex research idea that took us six months to conceptualize, test and execute? What is the next big research idea, and how will it get us a zillion citations in a few months? Developing managerial skills In addition, we also start playing managerial roles. First, we need to hone our skills in people management. Supervising students, research assistants, doctoral scholars, and entry-level post-docs is a daily activity. This throws up new challenges: how do we find a good balance between our research interests and nurturing those of our junior researchers? How do we encourage them to work hard while also ensuring that they do not get burnt out? How do we find research assistants who care as much about our research as we do? How do we incentivize the masters’ students to put in their very best in executing the research plans they have drawn up? Second, we need to develop good project management ski…
disambiguating description: Our favorite caricature of a post-doctoral researcher: a frail man (or woman) with unkempt hair, hunched in front of a computer screen, with a half-filled cup of coffee by his side. As the coffee gets colder and time flies by, he appears oblivious to his surroundings. He is happy spending long hours at his desk conceptualizing arcane theory on obscure topics the real world does not care about. He is in a state of eternal "tapasya" – meditating on his eternal love-affair with knowledge…because life is an eternal quest for knowledge! Or, so the world believes. Once the PhD has been completed, and freshly-minted researchers decide that research is what they would like to do for the rest of their lives, their friends and family might start assuming that a Doctor of Philosophy is just another armchair intellectual.
date posted: 2020-09-07T09:50:12Z
date modified: 2026-07-06T10:27:43Z
language: en
keywords: post-phd
keywords: career
keywords: research
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

5 key differences between American- and European-style PhD programs
type: Article
title: 5 key differences between American- and European-style PhD programs
description: This piece primarily focuses on the differences and similarities between economics PhD programs on the two sides of the Atlantic. I later discuss how an economics PhD is organized in other parts of the world, as many other countries have modeled their PhD programs on one of these two styles. Program duration The most striking difference between an American and European economics PhD is the expected duration of the program. In the US, universities traditionally offer a five-year degree where the first two years are devoted to training, and the final three years are expected to be spent on independent research. At the end of Year 1, graduate students take core examinations to progress to the second year. These are traditionally in Microeconomics, Macroeconomics and Econometrics. In the second year of an American PhD, students can choose courses that are closer to their research interests, which allows them to specialize in a particular field. In Europe, graduate programs vary significantly in terms of both structure and expected study duration. A standard Economics PhD lasts three to four years. In the first year, graduate students typically follow PhD-level courses offered by their department and develop a research proposal. The next two to three years are spent on independent research. Recently, many top European economics schools have started offering a 5-year PhD program following the American tradition. It is composed of two years of intensive classes delivered ‘in-house’ by the respective department, after which students are typically awarded a degree of a Research Master’s (or MPhil) and progress onto the research stage. Some universities offer a three-year ‘research only’ program for more advanced students, although this is still uncommon. These programs are usually for students that completed a Research Master (or an MPhil) somewhere else or gained extensive research experience prior to their PhD. Master’s degree requirements The second difference between an …
disambiguating description: A PhD is a life choice. One of the crucial factors that a potential graduate student should account for is that doing a PhD in the US can be a completely different experience from doing a PhD in Italy, Germany, or elsewhere in Europe.
date posted: 2022-09-09T11:07:42Z
date modified: 2026-07-06T10:34:16Z
employment type: onsite
language: en
keywords: economics phd
keywords: student experiences
keywords: study abroad
keywords: Hanna Sakhno
keywords: studying abroad
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

8 Life Lessons You'll Learn Doing A PhD
type: Article
title: 8 Life Lessons You'll Learn Doing A PhD
description: Time management One of the first skills that you'll pick up in your PhD program is the ability to manage your own time. Unless you have an unusually overbearing supervisor, you will have to be responsible for organizing your own working days and making sure that your work gets done on time. This is excellent training for other roles later in your career in which you will have to allocate time for various tasks to meet deadlines. Browse our PhD program listings for economics Importance of prioritization Related to time management, you will also learn to assess the priorities of various tasks. What needs to be done right now, and what can wait? Is it better to get small tasks out of the way quickly, or should you tackle big, demanding projects first? There are different styles which work for different people, and being responsible for your own research project will teach you which prioritization techniques work for you. How to work with others Although doing a PhD is largely an independent undertaking, you will also need to work with others. Whether working as part of a research group or organizing an event with your fellow PhD students, you will learn to listen to others, to make your own suggestions to a group, and to find compromises. These are all invaluable skills for later in life. How to give an oral presentation At some point in your PhD you will be required to give an oral presentation, such as at a conference, workshop, or as part of your thesis defense. You will get in practice at putting together interesting slides, at speaking clearly to a group, and at conveying information in a comprehensible way. Self-motivation One of the biggest challenges to overcome in your PhD is having to motivate yourself. It's unlikely that anyone else will push you to get your work done, so you have to find ways in which you can encourage yourself, even when you're tired or bored. Being able to push through negative emotions to meet your goals is one of the most broadly useful…
disambiguating description: Doing an economics PhD will make you an expert in your research topic, but, beyond that, it will also teach you a number of valuable lessons which are applicable to other jobs and your personal life. Here are some of the most useful lessons that you'll learn from undertaking your own independent research project. If you plan to start your PhD application this autumn, download our free guide "How to successfully apply to a PhD in Economics".
date posted: 2016-07-19T13:45:06Z
date modified: 2024-06-13T11:13:14Z
employment type: onsite
language: en
keywords: teamwork
keywords: time management
keywords: writing
keywords: creative thinking
keywords: PhD
keywords: editing
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)

How to balance your PhD and your social life
type: Article
title: How to balance your PhD and your social life
description: Treat your PhD like a regular job One of the challenges of adjusting to life as a PhD student is the lack of a firm schedule or a definite structure. Although there are options for structured PhD programs, especially in the US, many PhD programs do not have required coursework or set work times. This can make it hard to know when you should be working, and conversely, when you are allowed to take time off. To help with this, where possible set some regular working hours for yourself and try not to answer emails outside of normal working hours. There can be considerable pressure from your supervisor and others to be available at all times, but waking up in the middle of the night to answer emails is not healthy. And, if you stick to regular working hours – for example, 9 to 6 from Monday to Friday – you'll have less of a need to answer late night emails. This will help to keep your evenings free for social events, both practically and mentally. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> You need holidays and days off Similar to the advice above, when doing a PhD program there is a feeling like you should be working every spare second that you have. But no one can work 100% of the time. For the sake of your social life and your well being, it's vital that you take weekends and holidays off. Use this time to see friends and family and try not to think too much about work while you do. One good way to take vacation is to add a few days to the end of your trip when you travel to a conference. Conferences are usually held in exciting locations and you'll only need to pay for the extra days at a hotel and your daily expenses. A few days off after a busy conference can be a great way to relax with friends, co-workers, or a partner. Attend social events at your institution If you don't know many other people who are doing a PhD, you might feel very isolated and like no one understands what you're going through. A good way to get to know other people i…
disambiguating description: Doing an economics PhD can feel like an all-encompassing task, but it's important for your well-being that you have a social life during this time as well. It can be hard to balance the two, but if you don't, you may find yourself overwhelmed and not able to enjoy your time researching and writing as much. Here are tips on balancing your PhD with your social life.
date posted: 2018-09-24T09:07:10Z
date modified: 2026-07-06T10:36:02Z
employment type: onsite
language: en
keywords: study advice
keywords: free time
keywords: balance
keywords: Georgina Torbet
keywords: social life
keywords: phd
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)

Should you prolong your predoc life?
type: Article
title: Should you prolong your predoc life?
description: If you go through curricula vitae of recent PhD graduates, you may find it’s not uncommon to see that a PhD owns two master’s degrees. As lots of MA/MSc in Economics programs are one-year programs, some students will pursue an MRes or MPhil in Economics afterwards. Others may opt for a degree in applied mathematics, statistics or another field with an intention to strengthen their quantitative and/or coding skills (summer school programs are another option to do this). Even more common in those CVs is seeing a predoctoral research assistantship (henceforth, “predoc RA”). For many students, this job was done during their bachelor’s or master’s studies, while for others, it was a full-time predoc RA position in the interim before their PhD programs. Both of these cases are what the phrase “predoc life” refers to in this article. As a current PhD student who has fairly recently experienced the application process, and who has quite a few friends and peers who have also had this experience, I’m sharing this overview to help others who are considering a PhD. This article is specifically for those students who are not sure whether to apply to a PhD straight away, or to extend their predoc career first. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an><o:p></o:p> The pros and cons of predoc life There are differing viewpoints about whether prolonging your predoc life is helpful or not. Although receiving broader academic training, replacing the current GPA with a better one, and developing a more fully-fledged research idea are some of the many pros, the cons deserve to be shared. Given increasingly difficult admissions (which has been observed, but as of this writing not proven), a second Master’s without plenty of advanced courses and excellent grades may even hurt your chances of being admitted to a PhD program. Likewise, a full-time predoc RA position does not necessarily help a lot if the professor is not truly satisfied with your work and would not g…
disambiguating description: Due to COVID-19, PhD applicants over the past two years have had quite difficult application periods. It seems common now for students to apply to a range of universities and not be accepted to any of them. In fact, even without this exogenous pandemic factor, admission to economics PhD programs has been becoming increasingly difficult as a result of the excess supply of PhD applicants.
date posted: 2022-08-29T14:11:32Z
date modified: 2026-07-06T10:38:56Z
employment type: onsite
language: en
keywords: predoc RA
keywords: predoc
keywords: predoc life
keywords: Huaxin Wang-Lu
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Econometrics and Statistical Software
type: Article
title: Econometrics and Statistical Software
description: Broadly speaking, there are two types of software: proprietary and open source. Some people and organizations choose to use proprietary packages, which are developed and copyrighted by a single company. Others rely on free, open source solutions, like the popular “R” Project. Within these two categories, there are dozens if not hundreds of alternatives, varying in price, complexity, capability, user-friendliness and popularity. This post by Bob Muenchen is a great resource if you are looking for a survey of the most popular packages. He uses a number of different measures to evaluate different software options and keeps it up to date. Note that this survey is for data science in general - not just economics. That said, all of the common software used in economics are represented - like Python, R, Stata, SAS, SPSS, MATLAB, and more. That’s quite the list of names, and it can sound intimidating. To help you understand the software tools landscape, in this article we will shed some light on the most popular software packages for economists, and offer some details about how you can learn more about them. 1) Which software should I use? Before buying a package or downloading an open-source option, it is a good idea to talk to colleagues, visit online forums or communities related to each product of interest, examine your course curricula if you’re a student, and take advantage of free trials. It is also important to consider your own abilities and/or the level of expertise available within your team (if applicable). If there are several software packages that meet your needs, options with better support may save you time and stress in the long term. That said, students of economics may tend to focus on the major open-source, non-proprietary tools in their studies; many courses use open-source tools to teach. Python and R are two examples. R is used very often by economists. Python, meanwhile, is used somewhat less often in economics, but is used frequently in data scienc…
disambiguating description: Economists very often work with statistical software that is used to build economic models and conduct econometric analyses. Learning to work with and analyze data is thus an essential skill for young economists. To be competitive as an economist in the job market, demonstrable skills and experience using some of the popular analysis and forecasting software environments are a must.
date posted: 2013-08-13T22:00:00Z
date modified: 2026-06-25T13:24:00Z
language: en
keywords: R
keywords: economics
keywords: data analysis
keywords: econometrics
keywords: software
keywords: STATA
keywords: SPSS
keywords: MATLAB
keywords: statistics
keywords: Python
type: blog
disciplines: mathematics
disciplines: civilengineering
disciplines: softwaredevelopment
disciplines: physics
disciplines: earthscience
disciplines: materialsmetallurgicalengineering
disciplines: chemicalengineering
disciplines: electricalelectronicsengineering
disciplines: chemistry
disciplines: engineeringbusiness
disciplines: generalengineering
disciplines: socialscience
disciplines: business
disciplines: environmentalenergyengineering
disciplines: datascience
disciplines: informatics
disciplines: astronomy
disciplines: engineeringdesign
disciplines: marketing
disciplines: economics
disciplines: management
disciplines: econometricsstatisticsquantitative
disciplines: mechanicalengineering
disciplines: statistics
disciplines: biotech
discipline labels: Mathematics
discipline labels: Civil Engineering
discipline labels: Software Development
discipline labels: Physics
discipline labels: Earth Science
discipline labels: Materials & Metallurgical Engineering
discipline labels: Chemical Engineering
discipline labels: Electrical & Electronics Engineering
discipline labels: Chemistry
discipline labels: Engineering & Business
discipline labels: General Engineering
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Environmental & Energy Engineering
discipline labels: Data Science
discipline labels: Computer Science
discipline labels: Astronomy
discipline labels: Engineering Design
discipline labels: Marketing
discipline labels: Economics
discipline labels: Management
discipline labels: Econometrics, Statistics and Quantitative Methods (JEL C)
discipline labels: Mechanical Engineering
discipline labels: Statistics
discipline labels: Biotech / Biomedical Engineering

Production Possibilities Frontier (PPF)
type: CreativeWork
title: Production Possibilities Frontier (PPF)
description: The PPF is often defined for two different goods that utilize the same inputs in their production; this can be shown on the vertical and horizontal axes of a graph. Moving further along one axis means the economy produces more of that good. To create the PPF, you need to know the opportunity cost of producing each good. In other words, you must know how many units of good A you must give up in order to produce one more unit of good B at all levels of total production. To demonstrate with a simple example, let’s consider an economy that produces food and electronics. Let’s further assume that the only production inputs in this economy are the labor hours required to produce the goods. The economy’s production can be represented in the following table: Food Electronics Units produced per labor hour 10 5 If the economy has a total endowment of 100 labor hours, then it can produce 1000 units of food or 500 units of electronics by spending all 100 hours on either good. These two points become the intercepts on the PPF graph. If we graph food on the horizontal axis and electronics on the vertical axis, then the x-intercept will be 1000 and the y-intercept will be 500. Now, let’s assume that the amount of labor hours required to produce these goods is constant at all levels of production. That is, regardless of whether we make 1 unit of food or 1000 units of food, it always takes one labor hour to make 10 units of food. Likewise for electronics. Taken together, these facts will produce the following PPF: Figure 1: A simple economy's PPF One useful aspect of the PPF is that it helps us easily see if an economy has reached a Pareto efficient outcome. At every point on the line shown, the economy is using all of its available labor hours to produce some mix of the two goods. This is efficient in an economic productivity sense. But, every non-negative point under the line is also a possible product mix. The problem with them is that they are inefficient. This is because the ec…
disambiguating description: The Production Possibilities Frontier (PPF) is a graph that can be used to describe the production of an economy in macroeconomics, or production decisions by a household or firm in microeconomics. It shows possible combinations of two (or more) products that an economy can make, in one simple graph – hence the name.
date posted: 2022-08-19T13:15:18Z
date modified: 2026-06-29T10:34:40Z
employment type: onsite
language: en
keywords: production possibilities frontier
keywords: ppf
keywords: Sean McClung
type: terms
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

The INOMICS Questionnaire: Fratzscher vs Tooze
type: Article
title: The INOMICS Questionnaire: Fratzscher vs Tooze
description: The titular economic historian, Adam Tooze, was born in London, spending parts of his childhood in England and in Heidelberg, Germany. He earned his BA in Economics from King’s College Cambridge in 1989, and then began his postgraduate studies in Berlin. He received his PhD from the London School of Economics in 1996. From then until 2009, Adam taught at the University of Cambridge. He was then appointed to the Barton M. Biggs Professorship at Yale University. Adam joined his current position in Columbia University’s history department in the summer of 2015. He is well-known for his economic histories (including The Wages of Destruction) which have won him several awards, including the Wolfson History Prize and the Lionel Gelber Prize. Marcel Fratzscher: What is your favorite place on earth? Adam Tooze: I thrive on the intensity and hustle of New York City. I love the cultural density of Europe. But my favorite place right now is a lagoon - “The Cut” - between two of the outer islands of the Abacos in the Bahamas. It’s an extraordinary place. Ravishingly beautiful. Creole. Wild. A bit dangerous. The infrastructure is fragile. Sharks and barracudas in the water. Extreme weather. The historic hurricane Dorian which made landfall on the islands on 1-2 September 2019 wiped out the homes of practically everyone else on the island, including a cottage we called our own. We have rebuilt a house in its place. MF: Outside of economics, what occupation would you have if you could be absolutely anything? AT: I left economics to become a historian. So that is part of my answer. As a boy I wanted to be a mechanical engineer. If I had the talent I would wish to be a visual artist. MF: What is the virtue you appreciate the most? AT: Sincerity. MF: Your all-time favorite figure in economics? AT: John Maynard Keynes. MF: Your # 1 economics blog? AT: In the new substack universe it is Matt Klein’s Overshoot. Amongst the earlier generations of blogs Timothy Taylor’s Conversable Econom…
disambiguating description: The following article first appeared in the INOMICS Handbook 2022. Download the INOMICS Handbook 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 2022 edition of the INOMICS Handbook Questionnaire. This time, he has the pleasure of being joined by renowned economic historian Adam Tooze, who generously agreed to take the hot seat in this exchange. Thus, the back-and-forth has been dubbed Fratzscher vs. Tooze, as is tradition. What follows is a dive into the beauty of wild places, the gender bias still present in economics, the link between policy makers and central banks, the limits of the search for perfect causality in the social sciences, and even more. Tooze’s perspective is unique and fresh, and is sure to be an interesting read you won’t want to miss.
date posted: 2022-06-27T04:00:00Z
date modified: 2026-07-03T11:49:08Z
employment type: onsite
language: en
keywords: INOMICS Questionnaire
keywords: Adam Tooze
keywords: Marcel Fratzscher
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
disciplines: economicthoughtmethodology
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Economic Thought & Methodology (JEL B)

The Economics of Settlers of Catan
type: Article
title: The Economics of Settlers of Catan
description: The game is an interesting one from an economics standpoint, since players must collect and trade resources, invest in the growth of their own miniature economy, barter with others, and make decisions about trade-offs and opportunity costs at every turn. In Catan, the person who builds the most efficient and fastest-growing economy almost always wins. In this article, I aim to shed some light on the economics of Settlers of Catan, and show how it reflects some economics principles and real-world concepts. Without further ado, let’s dive in. The Foundations of a Productive Economy In Catan, resources are gained by a roll of two six-sided dice each turn. This means that possible numbers rolled are between 2 and 12, with the number 7 being the most likely. On the board, each resource tile has a number from 2 to 12 on it (except 7 – more on that later), and when that number is rolled, every settlement touching that tile gets one resource from it. Cities get two. Clearly, it is better to get your settlements and cities on the more commonly rolled numbers. On average this will yield more resources, putting you at an advantage ceteris paribus. Those tiles with more likely numbers represent land that is more productive. In the real world, especially for developing economies, concentrating production on the most productive land is also the best way to build the foundation for a healthy economy. Often, this means early cities developed along waterways and in areas with productive soil for agriculture. But, sheer productivity isn’t everything in life or Catan. Some resources are more valuable than others, and the opportunity cost of each one changes depending on the game and your particular economy. In Catan, you need brick and wood to build roads, which let you expand and build more settlements in new places. Settlements cost a brick, wood, wheat, and sheep to build, and they allow you to collect more resources when a resource tile they touch has its number rolled. Expanding …
disambiguating description: Klaus Teuber’s Settlers of Catan is a popular board game that has become a mainstay of friendly gatherings across the globe. For the uninitiated, in Catan up to 4 players compete to be the first one with 10 victory points. Points are gained by building houses (“settlements”), cities, and roads on a heretofore unsettled island rife with natural resources. Catan has nearly limitless replay value - with 3,695,814,682,560,000 (over 3 quadrillion!) different unique board layouts using just the base rules. Chances are, you’ve heard of Catan even if you don’t particularly love board games.
date posted: 2022-08-05T08:24:29Z
date modified: 2026-07-03T11:55:10Z
employment type: onsite
language: en
keywords: the economics of settlers of catan
keywords: game theory
keywords: Sean McClung
keywords: Settlers of Catan
keywords: economics of games
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Autarky
type: CreativeWork
title: Autarky
description: So what does autarky entail, exactly? A nation that is completely isolated from the outside world and refuses to trade or interact with other countries as much as possible would be described as isolationist. This type of nation would have a fully autarkic economy. They would refuse international trade and only consume goods produced within the country. This is a closed economy, and we would describe it as being “in autarky”. In the modern world, autarky is a state that is very hard to maintain. Global trade has become more interconnected, cheaper, and faster than it was in the past. The benefits of isolationist economic policies are hard to argue for in the modern age, especially with examples of comparative advantage and arguments against trade barriers. In fact, most economists believe that free trade is beneficial for economic growth, while trade barriers resulting from protectionist policies are a hindrance. Unsurprisingly then, most countries in the modern age trade with one another even if they have some protectionist policies like tariffs in place for some industries or goods. Being completely self-sufficient (“in autarky”) is a rare case in the modern age, although countries may seek to achieve autarky in certain strategic areas (energy supply, for instance). An example of a largely autarkic nation is North Korea. It is a nation that faces heavy economic sanctions and has few opportunities to trade with other countries. Even nations that will trade with it, like China, have a much larger volume of trade with other countries due to the low production of goods for export in North Korea. So, the majority of its output is produced and consumed by North Koreans. Of course, even North Korea still has some trade with other countries – like China – and so isn’t fully autarkic. Good to Know The term “autarky” should not be confused with “autocracy”. The latter is a system of government where one person rules with absolute power (i.e., a dictator). Nations governed by…
disambiguating description: Autarky’s definition, according to the Oxford dictionary, is “economic independence or self-sufficiency”. It can also be spelled “autarchy”. This word is seldom used outside of academic contexts like economics or political science. Unfortunately, it may be sprung on you in economics courses without any warning, and since it is an actual word it may not be explained.
date posted: 2022-08-04T10:21:33Z
date modified: 2023-05-08T18:08:24Z
employment type: onsite
language: en
keywords: Sean McClung
keywords: economics terms A-Z
keywords: autarky
keywords: international trade
type: terms
disciplines: internationaleconomics
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: industrialorganization
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: Industrial Organization (JEL L)

How to Find Student Accommodation in a Foreign Country
type: Article
title: How to Find Student Accommodation in a Foreign Country
description: INOMICS has partnered with Uniplaces to help students find accommodation abroad. This means that on articles related to student accommodation or housing, we may make some money if a user clicks through to an affiliate link and makes a qualifying purchase. INOMICS users also gain a 15% discount on the Uniplaces Service Fee at the time of booking payment (the discount of your promo code must be entered in the payment session before sending the reservation request). Use the promo code: UP15INOMICS. However, these posts are not sponsored posts. Through your university Wherever you're travelling for your study abroad, it's likely that the university which you're visiting will be able to help you with your move. Many universities have an international students office, or a visiting students office, which is there to help you with any issues you have – including dealing with paperwork, help with language problems, and finding accommodation. They may have a list of reliable private accommodation in the area, or a message board on which staff and students can post if they have a room to rent. Some universities even have their own residence halls or other campus housing options, which you can rent by the semester, usually for not too much money. The advantage of going through your university is that people who know the local area can advise you on good locations, and what a reasonable cost is. The distance to campus is often manageable, too. The disadvantage is that university-provided accommodation can tend to focus on being safe and in less exciting areas of town. If you want somewhere more adventurous in a lively area, then you should consider renting privately. Through personal contacts When you're moving to a new country, often you won't know many people there and so won't have a social network to help you out. But before you go, ask your friends and use social media to find out if there are any friends-of-friends living in or near to the area you're traveling to. If you…
disambiguating description: If you're going abroad for your studies, either for a few weeks or a few months, you'll need to deal with some practical issues. One such practical concern is finding student housing – how can you find international student housing when you're not currently in the country? To help you through this, we're sharing some tips on how to find a place to live while you're studying abroad.
date posted: 2016-03-24T14:43:38Z
date modified: 2026-07-06T10:41:12Z
language: en
keywords: Foreign Students
keywords: Students
keywords: accommodation
keywords: Study Abroad
keywords: craiglist
keywords: Airbnb
keywords: Housing
type: advice
disciplines: education
disciplines: artarthistory
disciplines: theologyreligeousstudies
disciplines: molecularbiology
disciplines: nursing
disciplines: communicationsdesign
disciplines: music
disciplines: agriculturalsciences
disciplines: softwaredevelopment
disciplines: earthscience
disciplines: materialsmetallurgicalengineering
disciplines: chemicalengineering
disciplines: electricalelectronicsengineering
disciplines: immunology
disciplines: generalengineering
disciplines: biology
disciplines: law
disciplines: environmentalenergyengineering
disciplines: othergenerallinguistics
disciplines: neuroscience
disciplines: history
disciplines: philosophy
disciplines: astronomy
disciplines: engineeringdesign
disciplines: humanmedicine
disciplines: mediastudies
disciplines: dieteticsnutrition
disciplines: pharmacy
disciplines: mechanicalengineering
disciplines: biotech
disciplines: dentistry
disciplines: mathematics
disciplines: culturalstudies
disciplines: civilengineering
disciplines: veterinarymedicine
disciplines: literaturecreativewriting
disciplines: genetics
disciplines: psychology
disciplines: dancetheatrefilmstudies
disciplines: publichealth
disciplines: physics
disciplines: archaeology
disciplines: generaleconomics
disciplines: chemistry
disciplines: engineeringbusiness
disciplines: socialscience
disciplines: business
disciplines: physiotherapy
disciplines: microbiology
disciplines: biomedicine
disciplines: informatics
disciplines: marketing
disciplines: economics
disciplines: management
disciplines: biochemistry
disciplines: cellbiology
disciplines: sociologyanthropology
discipline labels: Education
discipline labels: Art & Art History
discipline labels: Theology & Religeous Studies
discipline labels: Molecular Biology
discipline labels: Nursing
discipline labels: Communications & Design
discipline labels: Music

Using online games to teach economics
type: Article
title: Using online games to teach economics
description: In our experience, using short in-class games is a great way to engage students. In addition, it makes it easier to get across the underlying economic theory and bring out the implications of the resulting predictions. There is also evidence to suggest that introducing games can have a positive impact on students’ learning. These games typically take between 20 and 40 minutes to run. During this time, students make decisions and find out the implications of their payoffs (winnings) at the end of the round. Then, in subsequent rounds they can respond to the outcomes from their own and their classmates’ previous behaviour. Traditionally, in-class games were played in a paper-based format in face-to-face classes. For example, experimental economics pioneer Charles Holt demonstrated that ordinary playing cards can be used to facilitate the running of games. However, over the last ten years, many online versions of economics games have been developed. Students can play these games on laptops, tablets or even mobile phones. As a result, it is now possible to play online games in the classroom or even through remote delivery. The following websites provide, typically for free, a wide range of single player and interactive games covering topics including game theory, industrial organisation, macroeconomics, the environment, and finance: Vecon Set up by Charles Holt, this site provides a wide range of games for free. These include classic lottery and intertemporal decision making games and a host of market-based games as well. They are all presented with simple graphics and easy to use interfaces. The results can be presented in graphic form and saved to be revisited in subsequent classes. Economics-Games Again free, this site provides a range of single and multiplayer games. These include both simple games and more involved simulations, for example on pricing strategies and competition in markets. ClassEx This is another site that provides a wide range of games for free. On…
disambiguating description: The playing of simple, short games has become an increasingly common way to teach a range of key concepts and theories in economics.
date posted: 2022-07-05T13:46:39Z
date modified: 2024-08-02T13:22:06Z
employment type: onsite
language: en
keywords: online games
keywords: Economics Network
keywords: Economics games
type: teach
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

How to Finance Your PhD In Economics
type: Article
title: How to Finance Your PhD In Economics
description: Finance Option #1: Assistantships, Teaching and Research Most major universities offer teaching or research assistantships. Teaching assistants will typically be placed with a professor to assist with one or more courses. This could include grading, tutoring students, helping to organize assignments, and even leading lectures in your area of study. Assistantships provide tuition remission in addition to stipends and are a great way to get a taste for working as a professor. A research assistantship will likely pair students with one professor or a team of professors working on a specific research project. Most assistantships will be offered on a merit-based program, but you should nevertheless reach out to your specific department and make them aware that you’re interested. It is not uncommon to be offered an assistantship mid-semester or midyear. Look outside your own department, too, especially if there are opportunities to work with Deans or leadership offices, as these also tend to provide opportunities. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> Finance Option #2: Fellowships and Grants Fellowships are awarded to PhD students; they are incredibly competitive and often are not available to students until they are nearing the completion of their academic work, but there are exceptions. Fellowships are typically based on your research background and scholarly promise, so invest time in early years of the program developing a solid academic profile for consideration in these competitive offerings. A research grant is generally offered to programs or research projects working on a specific research design or vision. Grant programs will assist with the funding to complete the project, such as needed materials or travel associated with collecting data. Keep in touch with professors in your field and email news lists or online sites relevant to your department. Finance Option #3: A Night Program/ Part Time Program With the recognition that some …
disambiguating description: A PhD can be a very expensive endeavor regardless of your background. There are many funding opportunities to finance your economics PhD and they are all worth considering prior to committing to a specific program. Remember that there are options, and that ultimately most graduate programs will view you as an asset based on what you can give back to the program through research, assisting other professors, or even obtaining grants. So, although you’re competing to get into their programs, they should also be “competing” to offer you the most options for financing. If you plan to start your PhD application this autumn, you can also download our free guide "How to successfully apply to a PhD in Economics".
date posted: 2013-04-02T22:00:00Z
date modified: 2026-07-06T10:42:42Z
language: en
keywords: grants
keywords: Master
keywords: economics
keywords: Scholarships
keywords: MA
keywords: phd
keywords: finance
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
disciplines: generaleconomics
disciplines: finance
discipline labels: Marketing
discipline labels: Economics
discipline labels: Education
discipline labels: Law
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)
discipline labels: Finance

Stagflation
type: CreativeWork
title: Stagflation
description: Clearly, this is a very undesirable economic state. Low growth and high unemployment mean that there are few opportunities for people to become employed or seek better jobs, while high inflation continually erodes the value of people’s money over time. This can spiral an economy into a recession situation complicated by the fact that promoting growth to end the recession will make inflation, and people’s financial situations, even worse. The term “stagflation” was popularized in the 1970s (although its first use came as early as 1965), reflecting similar economic situations in the United Kingdom and United States. This was the first time in modern economic history that stagflation had occurred, taking economists and policy makers by surprise. Several factors contributed to its onset. One commonly cited factor is an oil trade embargo from OPEC countries that began in 1973 and caused energy prices to rise sharply, creating a feedback effect that increased the prices of many other goods. This is an example of a supply shock. In this case it contributed to high inflation, which reached 18.0% in the UK and 13.5% in the US in 1980. However, other factors had already started developing stagflationary pressures before the oil embargo. In the US, the federal government had a high budget deficit following the Vietnam War, but the government was unwilling to raise taxes to eliminate the deficit. In addition, the Federal Reserve was focused on promoting economic growth to combat unemployment and the multiple recessions that occurred in the 1970s, which meant that interest rates were kept low throughout the decade. Low interest rates disincentivize saving and encourage spending, which contributes to growth - but also inflationary pressure. In the U.K., it is often argued that policymakers did not appreciate the role that monetary policy could play in controlling inflation. This was despite the warnings of Iain MacLeod, who is sometimes credited with coining the term stagflation.…
disambiguating description: Stagflation is a macroeconomic phenomenon. It is an amalgamation of the words “stagnant” and “inflation”, which is a reflection of its meaning. Economists use this term to describe an economy that is suffering from low growth, high unemployment, and high inflation.
date posted: 2022-07-06T09:59:52Z
date modified: 2023-06-01T14:06:27Z
employment type: onsite
language: en
keywords: Stagflation
keywords: Sean McClung
type: terms
disciplines: economichistory
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: financialeconomics
disciplines: socialscience
discipline labels: Economic History (JEL N)
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Financial Economics (JEL G)
discipline labels: Economics and Social Sciences

Top tips for audio feedback
type: Article
title: Top tips for audio feedback
description: Recent research has suggested that feedback is more effective if we stop seeing it as an event that students receive, but rather as a conversation enabling students to gain a deeper understanding of the material. Effective feedback should be timely, encourage students, and provide useful tips for how to improve. Audio feedback - whereby the instructor records a clip for the student to listen to - is an easy-to-implement alternative to written feedback that acts as the beginning of this conversation. Audio feedback may have better engagement from students and be easier to provide in a timely manner. Compared with written feedback, it can be more interesting and unique as students feel the person marking their work is talking to them. As students perceive verbal feedback as more personal than written feedback, they respond more positively since it feels closer to a dialogue. This short guide can help you get started with providing audio feedback. How can I provide audio feedback? Most virtual learning environments (including Blackboard, Moodle, Canvas) and marking platforms (such as Turnitin) have the functionality to record audio feedback. This allows users to record directly on the platform, making it significantly easier and quicker. The audio feedback is then directly linked to the corresponding submission, so there is nothing more you need to do. If you don’t have access to a marking platform that allows audio feedback, or you want the opportunity to edit or add a transcript, you can record locally on a desktop/laptop or even a smartphone. Then, you can use an app to manage and send your feedback. There are many free apps and software packages available to record audio feedback that, in many cases, also allow you to edit the recordings. However, it should be noted that the sound quality might be affected by the microphone or the software used. If you are manually recording the audio feedback for a large course, make sure you carefully name the files, so that you …
disambiguating description: Good feedback helps students to understand the scale of any weaknesses in their understanding. To be effective, it will also be timely, encourage students and provide useful tips for how to improve in the future.
date posted: 2022-06-29T12:48:49Z
date modified: 2024-05-28T15:03:07Z
employment type: onsite
language: en
keywords: providing feedback
keywords: audio feedback
keywords: Economics Network
keywords: verbal feedback
keywords: Anthi Chondrogianni
type: teach
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Hyperinflation
type: CreativeWork
title: Hyperinflation
description: What does this imply? Imagine the cost of your average weekly grocery list increasing from €100 to €150 within a month, and €225 in the next month. In extreme periods of hyperinflation, prices rise exponentially, sometimes doubling within a week or even a day. What causes hyperinflation? Almost all hyperinflations occurred in times of war, conflict, or severe economic turmoil, in conjunction with government budget deficits being financed by currency creation. In those instances, the need for continued government spending is large, but there is a situation of declining real tax revenue. Being unwilling or often unable to increase borrowing, governments started printing money to cover expenses. When the money supply expands while output remains constant, there is more money available in the economy to spend on the same number of goods. As expected from the quantity theory of money, this causes the value of money to fall and prices to increase. In addition, the velocity of money increases as people prefer to spend their money immediately rather than hold on to depreciating cash. As prices rise exponentially, things become more expensive, including for the government. If in such a situation the government continues printing even more money instead of tightening monetary policy, inflation will continue to rise, creating a snowball effect. As wages fail to keep up with this surge in prices, and cash or savings deposited in banks decrease in real value, consumers’ purchasing power falls rapidly. In response, people start hoarding essential goods in anticipation of further price increases, thereby causing supply shortages and further spiraling price increases that can get out of control. How to address hyperinflation? Expectations play a major role in perpetuating price spurts during bouts of hyperinflation. To end this spiral of exponentially increasing prices, it is necessary to break the public’s expectation that price increases will continue and restore confidence in th…
disambiguating description: Hyperinflation describes very high and rapidly accelerating inflation. Following a widely accepted definition developed by American economics professor Philip Cagan in 1956, hyperinflation begins when monthly inflation rises by more than 50 percent.
date posted: 2022-06-30T09:28:09Z
date modified: 2023-10-02T16:22:42Z
employment type: onsite
language: en
keywords: Hyperinflation
keywords: Simone Schotte
keywords: inflation
type: terms
disciplines: economichistory
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: financialeconomics
disciplines: socialscience
disciplines: finance
discipline labels: Economic History (JEL N)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Financial Economics (JEL G)
discipline labels: Economics and Social Sciences
discipline labels: Finance