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item list element: Fiscal Policy
item list element: Top Memes All Economists Will Love
item list element: Can Economics Prevent War?
item list element: Tuition Fees at Czech Universities – How and Where to Learn Czech and Study for Free
item list element: Alarming Trend due to COVID-19 – Maritime Piracy on the Rise
item list element: Letters of Reference for UK University Applications
item list element: MBA vs PhD in Economics
item list element: Which countries own the world's largest container ships?
item list element: Most in Demand Jobs in Economics Today
item list element: Additional Courses to Improve Your Prospects in a Career in Economics
item list element: Monetary Policy
item list element: Statistics in Sport
item list element: Inventory of hazardous substances in container vessels: another necessary but bureaucratic burden for carriers
item list element: How to Write a Successful Motivation Letter for Economics Conferences
item list element: Freight container market needs a two-year recovery period
item list element: Event management and organization during the coronavirus outbreak
item list element: Externalities
item list element: Elasticity of Substitution
item list element: Derivatives of Functions
item list element: The Best Free Online Macroeconomics Courses
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Fiscal Policy
type: CreativeWork
title: Fiscal Policy
description: Let’s first see how an increase in government spending can accelerate economic growth. Part of the aggregate demand in an economy comes directly from the money spent by the government. Like private households and firms, governments themselves can buy goods and services and participate in the labor market. For instance, when governments set out to construct roads or other infrastructure, they hire private companies to do so, putting government money back into the economy directly (and increasing aggregate demand). Further, when governments attempt to hire new employees and workers to perform different services, they increase the demand for labor. If a government increases spending on nationally produced goods and services - such as construction of the aforementioned roads - this will translate into a direct increase in aggregate demand. Firms will raise production and hire additional workers to meet this demand. Thus, an increase in government spending leads to an increase in output (GDP) and a decrease in unemployment. One important question is by how much output will increase if the government decides to spend an additional million euros. Of course, aggregate output will increase by at least the same amount (in this case one million euros), but that’s not all. The initial stimulus will generate an increase in income which in turn will increase demand. From there, the production will rise by more than that initial increase in government spending. Why is that the case? Firms will sell more because of the increased demand and make higher revenues. Part of this revenue they will keep as profits and part will be used to pay their workers. Hence, the incomes of the workers and business owners increase. Because of increased demand, firms might be induced to hire new workers. Then, some workers who were formerly unemployed will gain a job and an income. They can therefore buy more goods and services. This in turn increases again the income in certain sectors and thereby ag…
disambiguating description: Government authorities use taxes and/or government spending to influence the economy of a country. This is known as fiscal policy. The government can use various tools to influence a country's economy if it thinks it's needed. During recessions or in times of economic crisis, for instance, production is low and unemployment rates are high. To stimulate economic growth the government may use tax cuts or an increase in government spending. These types of measures are known as expansionary fiscal policy.
date posted: 2020-10-28T11:29:21Z
date modified: 2024-10-01T18:30:34Z
employment type: onsite
language: en
keywords: Mirjam Sarah Salish
keywords: Fiscal Policy
type: terms
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: finance
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: Finance

Top Memes All Economists Will Love
type: Article
title: Top Memes All Economists Will Love
description: Browse our PhD program listings for economics 1. Cookie Monster teaches you about supply and demand It's so much easier to understand the basic principals of economics when cookies are involved, isn't it? This is the kind of Sesame Street content that we are in support of. From https://www.pinterest.co.uk/pin/15058979980424165/ 2. Opportunity costs we can all understand We all remember our student days: grassy campuses, intellectual stimulation, and the eternal question of whether to force yourself out of bed and away from Netflix and get to class. It's opportunity costs in action. From https://www.pinterest.co.uk/pin/15058979980424089/ 3. The truth of being an economist We've all had the experience of trying to explain what it is that we actually do at parties. The reactions you get when you tell people that you are an economist can be... wide ranging. That's why we can all sympathise with the image below: Photo credit: Fgcu.edu 4. The free trade debate rages on The ethics and effectiveness of free trade is surely not a debate that we've going to solve any time soon. So why not make debate points through the endlessly eloquent world of memes? From https://i.pinimg.com/originals/ac/d4/f4/acd4f482eb52da528fb773ae31f12629.png 5. Ash makes full use of comparative advantage When you've caught them all, you've cornered the market. Pokemon trainers understand that better than most. From https://i.pinimg.com/originals/ee/6f/4b/ee6f4b07247287e29d3f70dc867c5280.jpg 6. The conundrum of internet shopping Do you really need that new sofa? Those new shoes? That gadget you've been coveting? You just looked at the online shopping page briefly, but it's on sale. Maybe you should snap it up now while it's on offer? From https://www.pinterest.co.uk/pin/15058979979756752/ 7. We've all been there We all know that the candy you eat after eating 50 other candies doesn't taste as good as the first one. And yet... we can't seem to put the bag down. Bam! That's diminishing marginal returns.…
disambiguating description: Economics is serious business, but sometimes we all need a break! And that's when the internet is there: to sympathise, to commiserate, and to make us smile at the end of a tough day. Fortunately the stereotype of economists being humourless is not true – there are plenty of fun and funny economists who are out there sharing their humour. From students to senior professors, there are memes on the internet to express all aspects of the study and practice of economics. Below you'll find 10 of our favourite memes that we know all economists will love!
date posted: 2018-08-16T13:00:00Z
date modified: 2026-07-06T13:27:37Z
employment type: onsite
language: en
keywords: economics
keywords: meme
keywords: economics memes
keywords: Georgina Torbet
keywords: economic memes
keywords: memes
keywords: funny
keywords: funny meme
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Can Economics Prevent War?
type: Article
title: Can Economics Prevent War?
description: Yes, because economic sanctions provide an alternative to military action One of the primary arguments for economics as a method of preventing war is that it provides alternative mechanisms for nation states to respond to each other without necessitating military involvement. Both nation-states and international bodies such as the UN have tools for censuring other nations that are behaving dangerously, without having to engage military tactics as a first step. For example, if a nation is behaving aggressively towards its neighbours and threatening to destabilize an area, then other nations can impose economic sanctions as a first step rather than sending in troops straight away. Economic sanctions can include trade barriers, higher tariffs, or restrictions on financial transactions. In more serious cases, an embargo or trade ban can prevent trade between the nations entirely. The nation which is the subject of the sanctions will certainly experience a drop in trade, which will negatively impact their growth and development. Additionally, they may come to be seen as a pariah on the international stage. For these reasons, a nation may decide to curb its aggressive behaviour in order for sanctions to be lifted, all without risking the loss of life or military operations. Yes, because global economic interdependence necessitates peace Connected to the use of economic sanctions is the concept of economic interdependence. The idea is that as our world becomes increasingly globalized, nations rely on each other more and more. States rely on each other even for essential tasks like food production, where large quantities of basic foodstuffs may be imported from other locations around the globe. Certainly, this is true in business, when huge multinational corporations have offices or points along their supply chain in many different countries. This is termed economic interdependence. This means that for both the political leaders of nations and for many business people livin…
disambiguating description: Is economics a useful tool for maintaining peace? Can nations use economic policies to avoid war? With globalization an established fact of modern politics, this question is more important than ever. In this piece, we'll consider arguments both for and against.
date posted: 2018-11-26T12:19:49Z
date modified: 2026-07-03T14:14:05Z
employment type: onsite
language: en
keywords: economics
keywords: peace
keywords: Georgina Torbet
keywords: war
keywords: sanctions
type: blog
disciplines: politics
disciplines: internationaleconomics
disciplines: economics
disciplines: socialscience
disciplines: economicthoughtmethodology
discipline labels: Politics
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Economic Thought & Methodology (JEL B)

Tuition Fees at Czech Universities – How and Where to Learn Czech and Study for Free
type: Article
title: Tuition Fees at Czech Universities – How and Where to Learn Czech and Study for Free
description: Browse our programs in the Czech Republic Study in Czech for free Have you ever considered learning the Czech language? Knowing Czech has much more advantages than easier communication with the locals! Whatever you nationality is, if you study a degree programme taught entirely in the Czech language at a public or state university in the Czech Republic, there are no tuition fees, according to the country's Higher Education Act. This Act says that the foreign students have the same rights and duties as their Czech colleagues. The students can only expect paying the fees that are connected with their studies. These are administrative fees related to the entrance procedure or fees for exceeding the standard length of studies by more than one year. Programmes in foreign languages are available The offer for international students at Czech universities is expanding and there are 1,000 accredited study programmes in English offered at present. Should a Czech public or state university offer degree programmes carried out in foreign languages, it sets tuition fees for these study programmes. Even if you opt for studies in foreign language instead of a free-tuition public higher education, the costs will be lower when compared to other countries with an equally good educational reputation. The tuition fees differ from 0 - 22,350 USD per year and the amount depends on the relevant institution and study programme. Studying at private higher education institutions is always paid, no matter what the teaching language is and it varies with every institution. Czech language for foreigners Foreign students who wish to enrol in a Czech taught study programme must prove the adequate knowledge of the language and pass the entrance exams in the Czech language just like Czech applicants. If you don't know how and where to start learning Czech, you can find some useful links at the Study in the Czech Republic website. For example, you can register for one of the year-long preparatory cou…
disambiguating description: More than 43.000 foreign students are currently studying at universities in the Czech Republic. Many of them don't have to pay tuition fees, because they are enrolled in Czech taught degree programmes and therefore they study under the same conditions as Czech students do. While it might be difficult right now to move during the pandemic, it's always worth keeping yourself informed of what your future options are.
date posted: 2017-06-14T09:33:00Z
date modified: 2026-07-06T13:31:12Z
employment type: onsite
language: en
keywords: Czech Republic
keywords: tuition fee
keywords: Study Abroad
type: advice
disciplines: marketing
disciplines: internationaleconomics
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Management
discipline labels: General Economics (JEL A)

Alarming Trend due to COVID-19 – Maritime Piracy on the Rise
type: Article
title: Alarming Trend due to COVID-19 – Maritime Piracy on the Rise
description: It is more difficult for poorer countries to fight piracy, as the global pandemic has further weakened their economies. In 2019, it seemed to everyone that there was a decline in maritime piracy, with the lowest number of attacks in the world in 25 years. However, this year showed the opposite. The global pandemic did not weaken the occupation, but allowed it to flourish again. This, in turn, opened up new opportunities for maritime piracy. Due to restrictions, low trade and diseases, there are fewer crew members on board. Reduced global consumer spending means a drop in trade, which gives companies less revenue to provide greater protection on board ships, such as armaments or other equipment against attacks. As a result, ships are likely to become an easier target for sea pirates. Check out our job listings Profile of a pirate from our century Nowadays, pirates do not sail with big ships, do not wear tricorn hats like in movies and do not fly pirate flags. Modern sea pirates travel in small high-speed motorboats. Their goal is to stop quickly and rob a slower ship. Pirates are usually well-armed with firearms. The pirates aim to hijack parts, oil, crew members' personal valuables, and communication equipment - anything that can later be sold on the black market for money. In more severe cases, pirates take the ship's crew hostage for later ransom. One third of pirate attacks take place on large container ships and tankers. This type of attack is usually planned in advance, but ships are observed and tracked. One of the reasons for robbery is that criminals need resources and weapons for their fights on land, which is why ships passing by or nearby are robbed. Which countries are affected? A lot of maritime piracy affects poor countries with weak economies, weak leaders, poverty and official corruption. These include South America, Venezuela, Brazil, West Africa, Nigeria, Somalia, Yemen, Guinea, etc. These countries are also experiencing a particularly high outbrea…
disambiguating description: Speaking of current issues under the influence of COVID-19, events on the water, or sea, which is another parallel world with its written and unwritten laws, are somewhat undeservedly forgotten. Looking at the latest data, we need to talk about a very worrying trend over the last year. Although global maritime piracy is not as high as between 2009 and 2012, in 2020 the number of pirate attacks and attempts has increased by 24% compared to 2019.
date posted: 2020-10-07T10:31:04Z
date modified: 2026-07-07T09:28:17Z
language: en
keywords: piracy
keywords: coronavirus covid-19
keywords: maritime piracy
type: blog
disciplines: internationaleconomics
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: laweconomics
disciplines: economicdevelopmentgrowth
disciplines: healtheducationwelfareeconomics
disciplines: urbanruraltransportationeconomics
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Law and Economics (JEL K)
discipline labels: Economic Development, Innovation and Growth (JEL O)
discipline labels: Health, Education, and Welfare (JEL I)
discipline labels: Urban, Rural and Transportation Economics (JEL R)

Letters of Reference for UK University Applications
type: Article
title: Letters of Reference for UK University Applications
description: Most students ask for letters of reference from their thesis advisor, academic advisor or professors with whom they have taken multiple courses or who are very familiar with their work. Such a close relationship will allow for a thorough and well-written letter. If you do not have more than one professor who you feel would be qualified or willing to write a positive letter on your behalf, it is also acceptable to ask employers or other mentors to act as a referee. If you chose this route, it is advisable to include an explanatory note detailing the grounds for your selection. Browse our UK economics programs listings here Content of the Letter The letter of reference should be no more than one page in length and should explicitly reference your overall work ethic, career interests, research skills and ability to meet deadlines. Your referee should explain their relationship to you and highlight important milestones or achievements from your academic career. Moreover, a good reference letter offers clear insight into why you are interested in the course to which you are applying and how it would fit into your academic trajectory. Your referee should be able to comment specifically on your level of engagement with material, thereby emphasizing your particular strengths. Your reference letter might indicate that you sought out extra discussion during office hours, highlighting your added commitment to go above and beyond what is required of you. Additionally, if your referee is familiar with your extracurricular work, including positions in clubs, teams or even student jobs, it is perfectly acceptable for them to mention such engagements if they are relevant to the course. If you engaged in voluntary work, it is always positive for a referee to mention such an endeavour. By referencing such activities, your referee is showing that he or she is familiar with you as a person, while also highlighting your numerous positive attributes and qualifications. <11an>limit:2;cate…
disambiguating description: Regardless of where you are applying, nearly every course requires at least one, if not two or three letters of reference. Such documents are sometimes also referred to as letters of recommendation. In general, it is best for reference letters to be written by professors with whom you have worked closely, so they can offer detailed insight into you and your work.
date posted: 2014-07-04T22:00:00Z
date modified: 2026-06-26T12:11:06Z
language: en
keywords: applying
keywords: study advice
keywords: Applications
keywords: UK
keywords: university
keywords: Letters of Reference
keywords: tips
type: advice
disciplines: marketing
disciplines: internationaleconomics
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
disciplines: business
disciplines: psychology
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: International Economics (JEL F)
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)

MBA vs PhD in Economics
type: Article
title: MBA vs PhD in Economics
description: MBA and PhD programs have the potential to transform your career. A PhD allows you to become a professor and pursue a lifetime of research while an MBA can open up job opportunities at the top of business and drastically increase your salary expectations. No wonder it’s a difficult decision for many people. INOMICS as the leading career website for economists wants to help you make the right decision. Therefore, we are going to run through the key factors in this decision: career direction, requirements and cost. For a quick overview check out our video on just this topic! Requirements Most Master of Business Administration programs require that you have at least two years of work experience. PhD programs meanwhile normally require that you have already attained a master’s degree or have an exceptional bachelor transcript. Obviously, your academic past will shape your choice between a doctorate and an MBA. A good tip is to read some actual MBA and PhD program overviews and their requirements. Transform a theoretical question into a practical choice. You can find hundreds or the latest MBA and PhD course right here on the INOMICS website. <11an>limit:3;categories:PhD Programs;disciplines:Economics</11an> Career Direction The key question is what ultimate career direction do you want to go in? Ask yourself this question, would you like to end up working in academia or as a researcher? If the answer is yes, then you should start by looking at PhDs. A doctorate is a pre-requisite for nearly all academic jobs. If no, then an MBA or another career training opportunity will be the better choice. Taking a PhD can be a demanding process. It takes years of hard work with little immediate financial reward. You need to love doing research and have a genuine interest in what you are studying. If you are looking at a PhD purely in terms of future salary maximisation then best look elsewhere. There are a number of pros and cons to a career in research. But there is more to life th…
disambiguating description: Every year thousands of economics students decide to continue education, either straight away after graduation or after a year or two of “real world” work experience. Often at this point comes the question: should I pursue a PhD or enroll in a Master of Business Administration program?
date posted: 2013-09-01T22:00:00Z
date modified: 2026-07-06T13:32:54Z
language: en
keywords: economics
keywords: phd student advice
keywords: business
keywords: mba vs phd
keywords: mba
keywords: phd
keywords: finance
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
disciplines: businesseconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Business Economics (JEL M)

Which countries own the world's largest container ships?
type: Article
title: Which countries own the world's largest container ships?
description: Leader – Panama According to the available global data, Panama currently has the largest number of ships with a capacity of more than 20,000 TEU, with at least 20 such ships, and about 10 more ships with a capacity of up to 20,000 TEU. This is quite a triumph in the international container shipping arena. Why is that? Panama is a transcontinental country in Central and South America. The Panama Canal is an economically important geographical location for the country, generating millions of dollars in tolls for the national economy and providing huge employment, as well as a significant share of Panama's GDP. Its economy has grown steadily over the past decade, making Panama the country with the highest GDP per capita in the region. The transfer of the canal and military facilities to the United States has led to major construction projects. The expansion of the Panama Canal, the large foreign and domestic investment and its strong logistics industry make sea freight to Panama a safe investment, as it is generally assessed by risk rating agencies. In total, Panama has five seaport areas: Panamas City, Manzanillo, Balboa, Colon, and Cristobal. These seaports export and import $16,000 and $17,000 million, which is the annual value of Panama's foreign trade. Due to its central geographic location, Panama's economy is mainly based on a well-developed service sector, in particular trade and tourism, which are important and growing sectors. Therefore, Panama is considered a high-income country. In addition, in politics, Panama is one of the founders of the United Nations and other international organizations such as the OAS, LAIA, G77, WHO and NAM. The world's largest container ships are also owned by Hong Kong and Denmark Hong Kong is the next largest container ship leader in the world. At least 17 of the world's largest container ships are owned by Hong Kong, but both Hong Kong and China are among the shipping operators of these ships. Hong Kong is one of the most densel…
disambiguating description: According to the International Chamber of Shipping, more than 50,000 container ships are currently active in the oceans. These are large vessels that carry cargo in closed containers. The capacity of a container ship is measured in twenty-foot equivalent units (TEU), while a vessel with a capacity of more than 20,000 TEU is defined as a very large container ship.
date posted: 2020-09-29T08:00:00Z
date modified: 2026-07-07T09:29:44Z
language: en
keywords: container industry
keywords: shipping industry
keywords: freight transport
type: blog
disciplines: politics
disciplines: internationaleconomics
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: laweconomics
disciplines: urbanruraltransportationeconomics
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
discipline labels: Business
discipline labels: Law and Economics (JEL K)
discipline labels: Urban, Rural and Transportation Economics (JEL R)

Most in Demand Jobs in Economics Today
type: Article
title: Most in Demand Jobs in Economics Today
description: Financial analyst The job of a financial analyst is to research and create reports on the status of companies, industries, stocks, or other financial products. These analyses usually consist of statistical tests using the advanced quantitative skills that economics majors have often acquired. But in addition to mathematical and statistical skills, such work also requires the ability to write reports and to convey this mathematical information in a clear way. This is a skill which economists tend to have more practice in than mathematicians or hard scientists, so the job is a good fit. As long as there is a market for financial products and investments, there will be a need for financial analysts so this is a job that will be in demand for the foreseeable future. Browse our analyst job listings Actuary Actuaries most often work in the field of insurance, and their job is to create models which will determine how likely it is that a given event will happen: fires, earthquakes, accidental deaths, natural deaths, businesses failing, and more. The idea is to quantify how much risk there is of a particular event occurring so that insurance companies can use this information to set the costs of their coverage. Like working as a financial analyst, this role also requires exceptional quantitative skills, although it has less of an emphasis on written reports. The insurance industry is one of the more stable industries over the long term, so this job will continue to be in high demand. Auditor An auditor works to check and verify the financial statements of companies to ensure that they have paid the correct taxes and that their finances are in good order. This requires skills in quantitative analysis, but even more so it requires recognising patterns and identifying outlying or suspicious data points. As economics researchers often focus on analysing patterns, this is a task they are well suited to. Auditing is important for all big companies and will be especially important…
disambiguating description: When it comes to choosing a career path, pragmatic people know that they shouldn't select a job purely based on how interesting they find it. In order to have a stable, long-term career, the job path chosen should be based on the needs of the market as well as the interests and skills of the individual. For this reason, we've rounded up some potential jobs for economists which are highly in demand today.
date posted: 2018-09-11T11:00:44Z
date modified: 2026-07-06T13:34:11Z
employment type: onsite
language: en
keywords: in-demand
keywords: economics
keywords: job advice
keywords: jobs
keywords: auditor
keywords: analyst
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Additional Courses to Improve Your Prospects in a Career in Economics
type: Article
title: Additional Courses to Improve Your Prospects in a Career in Economics
description: From business to programming to statistics, there are plenty of areas which can help you improve your chances of getting a job and widen your skillset more generally, if you've got the money and time to enrol on one. Of course, not everyone will be able to attend these courses due to aforementioned money and time limitations; however, those who are able to will find that improvement in these areas will greatly help your career prospects, and of course, if one looks to websites like Coursera and Udemy, many introductory and intermediate courses can be found for free. But which are the best areas to improve upon? Browse our course listings to help maximise your career prospects Business and finance As there is a great deal of crossover between economics and business in the job market, you can widen the potential pool of jobs to which you can apply by taking some units in business or finance. You might have such units as part of your course, or you may be able to take units from the Business Studies department in addition to your regular units. You could consider studying topics like management, marketing, leadership, or accounting, all of which can give you an edge when it comes to applying for jobs and will be useful when you start work too. Moreover, courses on business and finance are easy to find online, often for free, especially for beginners. Programming and IT You probably already have basic IT skills like online research, word processing, using spreadsheets, and perhaps using databases. Improving these skills, though, particularly alongside your studies, can be extremely useful in all sorts of jobs. Even if you're not hugely technical, you can can find some IT skills which you can learn – for example, HTML is easy to learn and being able to build basic websites will be useful to many employers. On top of this, basic coding courses, and even coding which takes you to the intermediate and advanced levels, can often be found online. Bear in mind that coding is l…
disambiguating description: If you're doing an economics degree and thinking about ways to maximise your career prospects once you graduate, there are lots of courses outside the realm of economics for you to choose from.
date posted: 2016-09-22T10:19:54Z
date modified: 2026-07-06T13:35:08Z
language: en
keywords: economics
keywords: Jobs
keywords: Degree
keywords: Courses
keywords: boost
keywords: Career
keywords: job prospect
type: advice
disciplines: economics
disciplines: socialscience
disciplines: econometricsstatisticsquantitative
disciplines: generaleconomics
disciplines: businesseconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Econometrics, Statistics and Quantitative Methods (JEL C)
discipline labels: General Economics (JEL A)
discipline labels: Business Economics (JEL M)

Monetary Policy
type: CreativeWork
title: Monetary Policy
description: According to some economic theories, changes in the money supply affect investment and consequently economic growth. Economists who subscribe to Keynesian or monetarist theories believe that increases in the money supply foster investment and spending, which results in higher production and lower unemployment. At the same, though, increases in money supply raise inflation. The same is true in reverse for the opposite situation: a decrease in the money supply dampens investment and spending, which leads to a decrease in production and higher unemployment, while at the same time lowering inflation. Students should note that classical economists, however, may disagree with these views and assert that the money supply does not affect real economic variables, a theory known as monetary neutrality. This article ignores the classical viewpoint and considers monetary policy as it is typically introduced in macroeconomics courses. The role of the central bank So, how does the central bank influence the money supply? Central banks directly control the monetary base. But, they cannot completely control the entire supply of money since the monetary base only forms part of the money supply. Central banks have three main instruments available to influence the money supply of a country: the discount rate, open market operations, and the reserve requirement. The discount rate Readers may already be familiar with the idea that central banks “set” interest rates. But, central banks cannot do this directly; rather, they use the discount rate to influence interest rates in the economy. The discount rate is the interest rate at which commercial banks can take out a loan from the central bank. It is an important macroeconomic variable that has cascading effects for all other interest rates in the economy. Banks typically borrow money from the central bank when they don’t have enough liquid assets on hand to pay some unexpected obligation (i.e., withdrawal requests from customers) or to s…
disambiguating description: Monetary policy refers to the set of policies that monetary authorities such as central banks use to influence the money supply of a country and thereby economic activity.
date posted: 2020-09-22T07:57:14Z
date modified: 2024-02-06T14:33:52Z
language: en
keywords: Mirjam Sarah Salish
keywords: Monetary Policy
keywords: Sean McClung
type: terms
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences

Statistics in Sport
type: Article
title: Statistics in Sport
description: Although referencing football – specifically, the English variety - the sentiment was also thought applicable to sport more generally. Because eye-catching qualities like creativity and flair are difficult to quantify, the consensus was that judgement of sporting prowess was best left to those well-versed in said sport - in the majority of cases, former players. Certainly, the very notion that statisticians had anything to contribute in terms of team selection, acquisition, or even strategy was given little consideration. Statistical Analysis, the Roots In the UK, this began to change in the 1990s, when - as documented in the New Statesmen - undergrads at Lancaster University analysed, in-depth, goal-scoring probability in a hypothetical football match. While rudimentary in its technique, the analysis attracted the attention of more senior statisticians, namely Stuart Coles, who then expanded on the students' findings. His resultant work was to have far-reaching consequences. Across the pond, a similar development was already underway. This one, however, was to be even more transformative, radically altering the way certain sports, particularly baseball, were conceived. Owing to its easily isolated ‘one-on-one’ contests - pitcher v batter, for example - baseball lends itself well to statistical analysis. Indeed, the use of sabermetrics, ‘the empirical statistical analysis of baseball’, has been employed in some capacity ever since the sport was first professionalised. Its current use, though, both its universality and sophisticated nature, has its roots in Billy Beane’s tenure as General Manager (GM) of the Oakland Athletics, and his now much-famed ‘Moneyball Effect’. The 'Moneyball' Effect As GM of the (relatively) cash-strapped Oakland A’s, Beane’s innovative approach was the perfect manifestation of necessity being the mother of invention. With no way to meet compete with the spending power of their deep-pocketed rivals, Beane adopted an analytical, ‘sabermetric’…
disambiguating description: ‘Chance dominates the game’ concluded C. Reep and B. Benjamin in their 1968 study ‘Skill and Chance in Association Football’ - and not without consequence. Until recently, this statement stood as received wisdom, the phrase deemed self-evident, its veracity left unquestioned. Predictions based on statistics were a folly they said, the game was ‘too fluid, too unpredictable’.
date posted: 2018-12-29T09:53:00Z
date modified: 2026-07-07T09:31:02Z
employment type: onsite
language: en
keywords: statistics in sports
keywords: economics
keywords: basketball
keywords: William Pearse
keywords: baseball
keywords: sport
keywords: statistics
type: blog
disciplines: othereconomics
disciplines: economics
disciplines: socialscience
disciplines: management
disciplines: statistics
discipline labels: Other Special Economics Topics (JEL Z)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Management
discipline labels: Statistics

Inventory of hazardous substances in container vessels: another necessary but bureaucratic burden for carriers
type: Article
title: Inventory of hazardous substances in container vessels: another necessary but bureaucratic burden for carriers
description: In addition, as early as the end of this year, from 31 December 2020, in accordance with the European Union Ship Recycling Regulations (EUSRR), ships of 500 gross tonnage and upwards with the EU member state flag and all other ships, regardless of country of origin, will be required to keep an inventory of hazardous substances and materials (IHM) when visiting an EU or European Economic Area (EEA) port. New European ships and EU-flagged ships which are being dismantled must have this list of hazardous materials (IHM), inspected by the relevant administration or authority, indicating the location and approximate quantity of these materials. Check out our engineering jobs listings COVID-19 is stirring things up However, as a result of the COVID-19 coronavirus pandemic, many ship-owners may not be able to complete the required Inventory of Hazardous Materials (IHM) before the deadline. To this end the British and International Maritime Council (BIMCO) recommends that its members firstly develop an IHM on older ships. Older ships are usually recycled more quickly, and such planning will show that ship-owners are proactive in meeting the requirements of the new EU regulations. In addition, as members of BIMCO, www.strategies.lv has already written to the European Commission and asked for favourable conditions for all parties concerned regarding the deadlines for shipping companies to complete the IHM process while dealing with COVID-19 limitations and outages. The letter also includes a set of industry guidelines on compliance with EU ship recycling regulations and the establishment of an inventory of hazardous materials, which BIMCO members are encouraged to use. It is now known that the new regulation will affect approximately 137 (58%) of the 236 BIMCO member vessels. Only 33 ships have completed their work on this, while the rest are in various stages of development in an attempt to meet these new requirements. www.strategies.lv is propounding streamlining of the sys…
disambiguating description: The European Union (EU) is working very hard to make ship recycling greener and safer in the future. It is quite clear that the dismantling of ships in many parts of South Asia in its current state is not acceptable, either from an environmental or a social point of view. Ship recycling regulations, adopted seven years ago, are finally gathering pace now. In particular, the regulation firstly prohibits or restricts the installation and use of hazardous materials such as asbestos or ozone depleting substances on board ships.
date posted: 2020-09-03T07:00:00Z
date modified: 2026-07-07T09:32:25Z
language: en
keywords: freight
keywords: shipping industry
keywords: freight transport
type: blog
disciplines: manufacturingengineering
disciplines: mechatronicsrobotics
disciplines: civilengineering
disciplines: processlogisticsengineering
disciplines: geoagriculturalengineering
disciplines: safetysystemsengineering
disciplines: laweconomics
disciplines: qualityengineering
disciplines: materialsmetallurgicalengineering
disciplines: chemicalengineering
disciplines: electricalelectronicsengineering
disciplines: aerospaceengineering
disciplines: industrialengineering
disciplines: engineeringbusiness
disciplines: internationaleconomics
disciplines: generalengineering
disciplines: socialscience
disciplines: environmentalenergyengineering
disciplines: business
disciplines: architectualengineering
disciplines: structuralengineering
disciplines: constructionengineering
disciplines: projectengineering
disciplines: urbanruraltransportationeconomics
disciplines: engineeringdesign
disciplines: miningmineralsengineering
disciplines: economics
disciplines: automotiveengineering
disciplines: mechanicalengineering
discipline labels: Manufacturing Engineering
discipline labels: Mechatronics & Robotics
discipline labels: Civil Engineering
discipline labels: Process & Logistics Engineering
discipline labels: Geo & Agricultural Engineering
discipline labels: Safety & Systems Engineering
discipline labels: Law and Economics (JEL K)
discipline labels: Quality Engineering
discipline labels: Materials & Metallurgical Engineering
discipline labels: Chemical Engineering
discipline labels: Electrical & Electronics Engineering
discipline labels: Aerospace Engineering
discipline labels: Industrial Engineering
discipline labels: Engineering & Business
discipline labels: International Economics (JEL F)
discipline labels: General Engineering
discipline labels: Economics and Social Sciences
discipline labels: Environmental & Energy Engineering
discipline labels: Business
discipline labels: Architectural Engineering
discipline labels: Structural Engineering
discipline labels: Construction Engineering
discipline labels: Project Engineering
discipline labels: Urban, Rural and Transportation Economics (JEL R)
discipline labels: Engineering Design
discipline labels: Mining & Minerals Engineering
discipline labels: Economics
discipline labels: Automotive Engineering
discipline labels: Mechanical Engineering

How to Write a Successful Motivation Letter for Economics Conferences
type: Article
title: How to Write a Successful Motivation Letter for Economics Conferences
description: Browse our economics conference listings Start with the basics: your name, institutional affiliation, and a very brief career recap You should open your letter of motivation by introducing yourself and giving basic information on your current role and the current topic of your economics research. You may want to include a sentence in which you mention the positions you have held previously, or any grants which you have been recently awarded. However, the majority of your letter should be about your research rather than about yourself, so keep this section short and to the point. Give a basic description of your economics research You don't need to describe the exact details of your research, such as the experimental methods used or the results which you have gathered so far, as this information should be contained in your abstract. But you should give a simple summation of which sub-field you work in and what your research is about. Keep this general, as the people reading it may not be experts in your area. Imagine you were describing your work to a friend who works outside of academia, and write a few sentences about your research in this style. <11an>limit:2;categories:conferences;disciplines:General Economics (JEL A)</11an> Fit your topic to the conference theme As well as a general topic or subject which they cover, many economics conferences will have a theme which is different each year. The theme will typically reflect a large or important issue in the field which has been prominent over the year. If you can find a way to fit your research into the conference theme, this will greatly improve your chance of being accepted. The fit doesn't have to be perfect, but the themes are usually designed to be flexible, so put a sentence into your abstract about how your findings do or will impact on the theme and you'll make your presentation more relevant for the conference organizers and the audience. Be specific about the benefits of your economics research You prob…
disambiguating description: When you apply to present at an economics conference, you'll often be asked to provide a letter of motivation along with your abstract and CV. This is used to decide which applicants will be invited to give a talk or poster presentation at the conference. But what information should this letter of motivation contain, and what's the best way to increase your chances of being accepted to present?
date posted: 2018-08-16T15:30:00Z
date modified: 2026-07-06T13:36:32Z
language: en
keywords: conference
keywords: academia
keywords: Motivation Letter
type: advice
disciplines: marketing
disciplines: economics
disciplines: education
disciplines: law
disciplines: socialscience
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: Psychology
discipline labels: Management
discipline labels: General Economics (JEL A)

Freight container market needs a two-year recovery period
type: Article
title: Freight container market needs a two-year recovery period
description: At first, everyone thought that this was just a problem for China: a significant reduction in manpower, the closure of factories and shipyards, but, as the events unfolded, it was already clear that this was a global crisis. Various restrictions have led to labor shortages in all segments of China's shipping industry, which in turn has affected trade, and this decline is the sharpest in 16 years. China is a major player in the international trade chain, with the most active and important shipping container ports in the world. Although the country was the first to be hit by the coronavirus, it is one of the first to embark on a recovery path, while the rest of the world is still overcome by uncertainty and chaos about the future scenario. Check out our engineering jobs listings Surplus cargo - a major problem in the shipping industry As a result of the economic consequences of the coronavirus, the volume of cargo imported into the USA also decreased significantly - by 12.5%. These retail figures sharply reflect the extent to which domestic consumption of goods has declined, but it will take a long time to recover to pre-coronavirus levels. The United States has also imposed strict restrictions on ships entering Chinese ports by imposing strict crew and ship surveillance. According to the coast guard guidelines, the ship's crew is currently required to have a 14 day quarantine period. These requirements are causing a significant drop in trading activity, which is halting the progress of industry processes. Another trend that is exacerbating the transport market as a whole is the increase in demand for small vessels, while large vessels are experiencing a sharp drop in chartering tariffs on the main long-haul routes with the most delays. With container vessels at a standstill, a new record of -2.65 million TEU was reached in the spring of this year, driven by the transport of semi-empty or virtually empty vessels. Baltic and International Maritime Council (BIMCO) expec…
disambiguating description: The COVID-19 crisis has hit hard enough and continues to affect the global container shipping market. The current economic situation does not give much hope for a short-term recovery of this market. Demand for container shipments has fallen sharply, especially as China closed much of its plants in February 2020. The volume of production or cargo to be exported to other countries plummeted. The situation was exacerbated by a number of restrictions and requirements in almost every industry and in the world's ports.
date posted: 2020-09-01T13:15:24Z
date modified: 2024-06-04T21:22:38Z
language: en
keywords: shipping
keywords: freight
keywords: shipping industry
keywords: freight transport
type: blog
disciplines: manufacturingengineering
disciplines: mechatronicsrobotics
disciplines: healtheducationwelfareeconomics
disciplines: civilengineering
disciplines: processlogisticsengineering
disciplines: geoagriculturalengineering
disciplines: safetysystemsengineering
disciplines: qualityengineering
disciplines: materialsmetallurgicalengineering
disciplines: chemicalengineering
disciplines: electricalelectronicsengineering
disciplines: industrialorganization
disciplines: aerospaceengineering
disciplines: industrialengineering
disciplines: engineeringbusiness
disciplines: internationaleconomics
disciplines: generalengineering
disciplines: socialscience
disciplines: environmentalenergyengineering
disciplines: architectualengineering
disciplines: structuralengineering
disciplines: constructionengineering
disciplines: projectengineering
disciplines: urbanruraltransportationeconomics
disciplines: engineeringdesign
disciplines: miningmineralsengineering
disciplines: economics
disciplines: automotiveengineering
disciplines: mechanicalengineering
discipline labels: Manufacturing Engineering
discipline labels: Mechatronics & Robotics
discipline labels: Health, Education, and Welfare (JEL I)
discipline labels: Civil Engineering
discipline labels: Process & Logistics Engineering
discipline labels: Geo & Agricultural Engineering
discipline labels: Safety & Systems Engineering
discipline labels: Quality Engineering
discipline labels: Materials & Metallurgical Engineering
discipline labels: Chemical Engineering
discipline labels: Electrical & Electronics Engineering
discipline labels: Industrial Organization (JEL L)
discipline labels: Aerospace Engineering
discipline labels: Industrial Engineering
discipline labels: Engineering & Business
discipline labels: International Economics (JEL F)
discipline labels: General Engineering
discipline labels: Economics and Social Sciences
discipline labels: Environmental & Energy Engineering
discipline labels: Architectural Engineering
discipline labels: Structural Engineering
discipline labels: Construction Engineering
discipline labels: Project Engineering
discipline labels: Urban, Rural and Transportation Economics (JEL R)
discipline labels: Engineering Design
discipline labels: Mining & Minerals Engineering
discipline labels: Economics
discipline labels: Automotive Engineering
discipline labels: Mechanical Engineering

Event management and organization during the coronavirus outbreak
type: Article
title: Event management and organization during the coronavirus outbreak
description: Virtual options such as GoToMeeting and Zoom are viable solutions which allow conference organizers to host their events safely, in spite of the pandemic. Virtual broadcasting may also allow you to expand the options available to participants. Here’s how: Pre-recorded sessions: Allow each speaker to submit a recording of their presentation along with corresponding written materials. This will enable you to offer your participants access to all materials, or only to those materials which are most relevant to them. This will allow you to structure your pricing in the most effective way, enabling you to offer a more personalized experience and ensuring participants get the best value for their money. If you want to learn more about the risks and challenges for conference organization and recruitment during the 2020 pandemic, download our e-guide resource about recruitment during Covid-19. ➲ Download our e-guide "Recruitment during Covid-19" here Live webinar packages: Live webinars are the best option if you want to give participants a more hands-on and interactive experience. To this end, you can provide a link to all prospective participants asking them to join in at the appropriate time on the scheduled date, allowing them to be part of the active discussion and to ask questions. If you haven’t gotten the message out yet, be sure to take the opportunity to remarket and rebrand your conference or event as an entirely online experience. Social media live events: Going Live on Facebook or Instagram, or using other tools such as YouTube, LinkedIn or Twitter is an excellent way to broadcast your event while growing your social media presence. Social media is a handy tool since users will most likely already have the apps installed or can use it via their browsers; it eliminates the need for any links to be shared or for any type of prior coordination. Users can just click on your social media profile and join in on the conversation. Being honest and clear will get you fa…
disambiguating description: One of the areas of recruitment most adversely affected by COVID-19 is that of conferences and events, which until 2020 had been almost totally based on on-site attendance. With long-term health and safety measures in place affecting and restricting public gatherings, it is now time to rethink budget allocations and put them towards online broadcasting facilities as well as equipping your conference environment with the tools to continue, remotely.
date posted: 2020-09-01T09:07:55Z
date modified: 2026-07-06T13:37:57Z
language: en
keywords: event management
keywords: event organizer
keywords: conference
keywords: coronavirus
keywords: event
keywords: covid19
type: advice
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: General Economics (JEL A)

Externalities
type: CreativeWork
title: Externalities
description: Within free-market economies, market players act via the relevant mechanism or accepted system of determining prices and quantities bought and sold in the market. Occasionally, the actions of market players affect the welfare of individuals and groups who are not directly involved in the market. Such effects are called externalities because they are external to the market. For example, the production of particleboard releases toxic chemical waste into the environment. If producers and consumers are left to negotiate prices freely then the cost of this externality, the environmental damage, will be ignored. Other individuals and groups in the economy who have no need for particleboard will suffer the externality without compensation. This situation is illustrated in the graph: the equilibrium quantity of particle board in the market \(Q_{1}\) is determined where the marginal benefit (\(MB\)), or marginal revenue, to producers equals their marginal private cost (\(MPC\)). If the environmental damage can be costed then for each unit of particleboard produced the additional toxic waste and associated marginal damage (\(MD\)) can also be included in the graph. It follows that the additional cost to society as a whole from the market for particleboard, its marginal social cost (\(MSC\)), is the sum of the marginal private cost and the marginal damage\[MSC=MPC+MD.\] A new socially optimal equilibrium quantity \(Q^{*}\) is determined, taking into account the externality, where the marginal benefit from particleboard production is equal to its marginal social cost. Note that while this quantity \(Q^{*}\) is less than the free-market quantity \(Q_{1}\) it is nevertheless still positive, i.e. it is socially optimal to produce some particleboard. This is because some members of society, namely the producers and consumers of particleboard, stand to gain from it. A compromise is met in which the costs and benefits are simply set against each other from a social perspective. In th…
disambiguating description: Externalities are costs (negative externalities) or benefits (positive externalities) of market transactions that are not reflected in the market price and that affect individuals who are not participating in the market. Depending on the allocation of property rights in the economy, the presence of externalities is addressed through negotiation between the affected parties and/or government intervention in the market.
date posted: 2020-09-07T08:30:57Z
date modified: 2026-06-29T08:58:23Z
employment type: onsite
language: en
keywords: externalities
keywords: Tom McKenzie
type: terms
disciplines: microeconomics
disciplines: publiceconomicspolicy
disciplines: economics
disciplines: socialscience
disciplines: healtheducationwelfareeconomics
discipline labels: Microeconomics (JEL D)
discipline labels: Public Economics & Economic Policy (JEL H)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Health, Education, and Welfare (JEL I)

Elasticity of Substitution
type: CreativeWork
title: Elasticity of Substitution
description: In order to calculate an elasticity of substitution, it is first necessary to determine an isoquant. From there, one must work out input ratios and marginal rates of technical substitution (or MRTS) along the isoquant. An isoquant represents combinations of inputs \(x_{1}\) and \(x_{2}\), which are required to produce a given level of output \(\overline{Y}\). These combinations along the blue isoquant \(f\left(x_{1},x_{2}\right)=\overline{Y}\) are visible in the graph below. For any given point \(\left(x_{1},x_{2}\right)\) on the isoquant \(f\left(x_{1},x_{2}\right)=\overline{Y}\), it is possible to compute the input ratio. This is simply the quantity of one input divided by the other \(\frac{x_{2}}{x_{1}}\), as depicted by the gradients of the pink and grey lines in the graph. Any production technique that uses inputs \(x_{1}\) and \(x_{2}\) to achieve output \(\overline{Y}\) will have an input ratio specific to that particular technique. For any given point \(\left(x_{1},x_{2}\right)\) on the isoquant \(f\left(x_{1},x_{2}\right)=\overline{Y}\) one can also calculate the marginal rate of technical substitution \(\frac{-dx_{2}}{dx_{1}}\). This is the rate at which input \(x_{1}\) can be exchanged for input \(x_{2}\) while maintaining the level of output at \(\overline{Y}\). Figure 1: Elasticity of substitution along a curve In essence, elasticity of substitution \(\sigma\) measures how easy it is to move between points along an isoquant. When moving between such points there are changes in both the input ratio and the marginal rate of technical substitution. Elasticity of substitution sets proportionate changes in the input ratio against proportionate changes in the marginal rate of technical substitution such that \[\sigma=\frac{\frac{\Delta\left(x_{2}/x_{1}\right)}{x_{2}/x_{1}}}{\frac{\Delta\left(-dx_{2}/dx_{1}\right)}{-dx_{2}/dx_{1}}}.\] A positive value of \(\sigma\) indicates a certain degree of substitutability between production inputs. For the extreme case o…
disambiguating description: Elasticity of substitution measures the ease with which one can switch between factors of production. The concept has a broad range of applications. For example, it can be used to compare labour and capital in firms, or native versus immigrant workers in the labour market. Additionally, it can assess 'clean' versus 'dirty' methods of production for environmental economics.
date posted: 2020-09-07T08:05:59Z
date modified: 2026-06-29T08:55:29Z
language: en
keywords: Elasticity of Substitution
keywords: elasticity
keywords: Tom McKenzie
type: terms
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences

Derivatives of Functions
type: CreativeWork
title: Derivatives of Functions
description: Derivatives are widely applied in economic modeling and theory, because they are an invaluable tool used to measure the effects and rates of change in economic variables and find the maximum and minimum values of functions. Microeconomists and macroeconomists alike make frequent use of derivatives. The technique is key to solving constrained optimization problems, such as Lagrangian optimization, for the purposes of maximizing utility and profit. Many other decision problems can be represented mathematically and solved using first derivatives. Further, derivatives are often important for understanding why certain models of the economy differ or to examine their underlying assumptions. Using derivatives in economics with a profit example Consider the following production cost function for a good C(q) = k + aq2 where k is a fixed cost, q the number of units produced and a is a parameter representing variable costs. C(q) represents the total cost of production for q units of the good. When making the decision about how much of the good to produce, a profit-maximizing firm will be interested in the cost of producing the last unit of the good (known as the marginal cost) and aim to set this equal to the extra revenue from selling that unit (marginal revenue). Suppose that (total) revenue from selling this good is simply the unit price p times the quantity sold R(q) = pq. Then profit (π) will be revenue minus cost π(q) = R(q) - C(q). Maximum profit is found by taking the first derivative of the profit function and setting it equal to zero: \[\begin{aligned} \frac{\partial\pi\left(q\right)}{\partial q}=\frac{\partial R\left(q\right)}{\partial q}-\frac{\partial C\left(q\right)}{\partial q}&=0\\ \Leftrightarrow\ \ \ \frac{\partial R\left(q\right)}{\partial q}&=\frac{\partial C\left(q\right)}{\partial q}\\ \Leftrightarrow\ \ \ p&=2aq\\ \Rightarrow\ \ \ q^{*}&=\frac{p}{2a}.\\\end{aligned}\] Since the first derivative of the profit function is zero at this optimal point where p…
disambiguating description: Derivatives of functions are computed using differential calculus. A derivative in calculus is defined as “the rate of change of quantity y with respect to quantity x”. This sounds very similar to the definition for a slope, and in fact the derivative can be thought of as the slope of a curve. This article will discuss the usage of derivatives in economics, but will not explain how to calculate derivatives.
date posted: 2020-09-07T07:22:19Z
date modified: 2026-06-25T12:14:59Z
employment type: onsite
language: en
keywords: Tom Mckenzie
keywords: Derivatives of Function
type: terms
disciplines: economics
disciplines: socialscience
disciplines: econometricsstatisticsquantitative
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Econometrics, Statistics and Quantitative Methods (JEL C)

The Best Free Online Macroeconomics Courses
type: Article
title: The Best Free Online Macroeconomics Courses
description: We understand how difficult it’s been in these last months, the fear, frustration, and now, more recently, the boredom. Many have picked up new hobbies to pass the time, some have started learning a new language, and others, even, have experimented with exercise... As admirable as these endeavours are, a trick is still being missed. For what better way could there be to emerge from all of this madness than with a better grasp of... macroeconomics. Yes, there is none. You’re in luck, too. For there are countless opportunities to do this online, oftentimes for free! Can anyone really say they don’t need a little revision on the functions of GDP, the fluctuations of inflation, or the factors informing unemployment rates?! We thought not. So without further ado, here are our best picks of all that's out there: 1. Macroeconomic Diagnostics (edX) Hosted by the IMF, this course will teach you to assess a country’s macroeconomic situation using practical tools integral to day-to-day macroeconomic analysis. Throughout the 6 weeks of the course, you will learn how to analyze potential output, identify expenditure composition of growth, measure inflation, and assess sources of inflation. You will also gain a grasp of monetary and fiscal policy, develop an understanding of public and external debt sustainability, and learn how to assess the medium-term prospects of any given economy. It’s pretty all encompassing, and best of all it’s free! 2. Macroeconomics for a Sustainable Planet (edX) Run by the prestigious SDG Academy, this course focuses on the potential earth-saving question: is it really possible to develop a thriving global economy in a fair and environmentally-resilient way? At 13 weeks in length, and thus slightly longer than others in the list, the course also manages to squeeze in scrutiny of GDP, assessment of sustainable investment strategies, and takes a look at the rapidly changing labor market. We could not recommend it highly enough. 3. International Macroecon…
disambiguating description: With university life still suffering major disruptions and COVID fatigue reaching new heights, we at INOMICS felt it time for the latest instalment in our ‘online course’ series.
date posted: 2020-08-26T13:55:07Z
date modified: 2026-07-06T13:38:53Z
language: en
keywords: macroeconomics
keywords: William Pearse
keywords: remote
keywords: free
keywords: online learning
type: advice
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences