ItemList
number of items: 20
total items: 2585
item list element: Christmas Economics: Which Countries Spend the Most and on What?
item list element: Halloween Economics: Who Spends Money on What?
item list element: Google Economics
item list element: Nobel Prize in Economics 2012: Winners Announced
item list element: The 100th Anniversary of the Birthday of Milton Friedman
item list element: To Open Access or Not?
item list element: Why study Economics in a Foreign Language?
item list element: Three Economists Go Hunting
item list element: The Economics of Language
item list element: Growth of Econ Research in China
item list element: Free Education to Replace Skyrocketing Tuition Fees?
item list element: Economics: It's not just about the money?
item list element: Can you sell a $20 Bill for $200?
item list element: How To Deal With Nervousness During Presentations At a Conference
item list element: Vienna Graduate School of Finance (VGSF)
item list element: Utrecht University
item list element: The Review of Economics and Statistics
item list element: American Economic Review
item list element: Journal of Financial Economics
item list element: Journal of Accounting and Economics
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Christmas Economics: Which Countries Spend the Most and on What?
type: Article
title: Christmas Economics: Which Countries Spend the Most and on What?
description: European consumers are not conservative when it comes to spending on Christmas celebrations either. But in which country are consumers most ready to spend their money on, and on what exactly? According to the survey conducted by Deloitte in 2012, the absolute leader in total Christmas spending in Europe is Ireland, where consumers are ready to spend an average of 966 euros per household, followed by Switzerland (817 euros per household) and Luxembourg (815 euros per household). In the Netherlands consumers are eager to spend the least among the countries surveyed, 287 euros per household, which is almost 4 times lower than in Ireland and even slightly less than spending in Poland (312 euros per household) and Ukraine (332 euros per household). Typically the largest part of the Christmas budget in all countries is allocated to gifts (about 50% of the budget). Additional food is the second major spending, with additional socializing being only the third most important. Consumers in the Netherlands, Poland and Ukraine tend to spend the least on gifts, whereas consumers in the UK, US, Finland and France are among the most ready to pay for gifts.* The amount spent on food is the highest in Spain (279 euros), Finland (278 euros) and South Africa (214 euros).* If you want to compare this with spending during other holidays, have a look at our post about Halloween Economics. *(excluding the top spenders: Ireland, Luxembourg and Switzerland).
disambiguating description: Sources: Christmas Spending Survey 2012, Deloitte; NRF’s Holiday Survival Kit (US only); HSBC Christmas Spending Survey 2012 (UK only) The Christmas Season is probably the heaviest burden for family budgets among all the annual holidays, and the best business opportunity for retailers. In the US alone estimations of spending on Christmas-related items hit $586.1 billion in 2012.
date posted: 2012-12-20T23:00:00Z
date modified: 2024-07-01T21:55:06Z
employment type: onsite
language: en
keywords: economics
keywords: Survey
keywords: Christmas
keywords: Spending
keywords: Research
type: blog
disciplines: marketing
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Management
discipline labels: General Economics (JEL A)

Halloween Economics: Who Spends Money on What?
type: Article
title: Halloween Economics: Who Spends Money on What?
description: Halloween is a highly commercialized holiday in the US, with people of all ages celebrating and spending. Expected Halloween spending of US consumers in 2012 almost equals government expenditures of Kenya. According to surveys conducted annually by the National Retail Federation, in last five years total spending on Halloween in the US grew from $4.96 billion in 2006 to an expected $8 billion in 2012. After a significant drop in spending in 2009, consumers managed to bring it back up to the level of a previous year in 2010. The top expenditure in the 2012 Halloween budget is expected to be costumes ($2.87 billion), including costumes for adults ($1.4 billion), children ($ 1.1 billion) and pets ($37 million). Decorations and candy are the second and third most popular items ($2.36 billion and $2.33 billion accordingly). Interestingly, men are ready to spend more than women on every single Halloween-related item: men are going to spend an average of $90.11, whereas women budgeted $70.11. Data Source: National Retail Federation
disambiguating description: Halloween is a highly commercialized holiday in the US, with people of all ages celebrating and spending. Expected Halloween spending of US consumers in 2012 almost equals government expenditures of Kenya. According to surveys conducted annually by the National Retail Federation, in last five years total spending on Halloween in the US grew from $4.96 billion in 2006 to an expected $8 billion in 2012. After a significant drop in spending in 2009, consumers managed to bring it back up to the level of a previous year in 2010.
date posted: 2012-10-30T23:00:00Z
date modified: 2026-06-22T08:55:09Z
language: en
keywords: economics
keywords: Consumer Behavior
keywords: Spending
keywords: Holiday Economics
keywords: Expenditures
type: blog
disciplines: marketing
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: management
disciplines: generaleconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Management
discipline labels: General Economics (JEL A)

Google Economics
type: Article
title: Google Economics
description: In 2009 Wired.com, an IT magazine which frequently covers the inner workings of Silicon Valley, published an article on ‘Googlenomics’ or the Economics of Google, a concept pioneered by U.C. Berkeley professor Hal Varian, Google’s chief economist. Varian, has built his career by adapting and translating widely understood mainstream economics concepts for use in Google’s daily operations. He initially joined Google as a consultant in 2002. In 2010, Varian delivered one of the keynote lectures at the American Economics Association’s annual meeting, in which he spoke about the parallels between Henry Ford era assembly-line optimization and the data processing optimization that underlies most of Google’s production. Whereas early production in the 1900s was dominated by micro-innovations related to the optimal arrangement of interchangeable and constantly improving production factors such as gears, wheels, and energy sources, the e-economy in the early 2000s has come to be dominated by micro-innovations related to the optimal arrangement of protocols, programming languages, and software. Wired.com outlined both micro and macro-economic spheres of operation. In Google’s Macroeconomics, Google’s bottom line is affected by systemic factors and is analyzed via the calculation of multi-equation, multi-sector models, much like at a central bank, or in the macroeconomics classroom. At stake is how the fluctuation in numbers of internet users affects the demand for Google’s products and services in various sectors. It is this calculation that is apparently behind Google’s free access to its browser, its apps, and even its smart-phone operating system. In a line of logic reminiscent of monetary economic models, both the quantity of users and their “velocity” (user activity levels, rather than velocity of money in Google’s case) affect Google’s bottom line. Google’s microeconomics on the other hand, is about the optimal employment of Google’s resources in terms of huge pools of i…
disambiguating description: Google’s California headquarters is one of the more unusual places where you might find economists hard at work. While economists did not have a place at Google when it launched in 1998, by 2002 Google had begun to hire economists in advisory roles as the demand for Google’s ad space grew in size and complexity.
date posted: 2012-10-22T22:00:00Z
date modified: 2026-06-22T08:48:53Z
language: en
keywords: Google
keywords: Googlenomics
keywords: economics
keywords: Econ Job Market
keywords: Economists Employed
type: blog
disciplines: marketing
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: management
disciplines: generaleconomics
disciplines: businesseconomics
discipline labels: Marketing
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Management
discipline labels: General Economics (JEL A)
discipline labels: Business Economics (JEL M)

Nobel Prize in Economics 2012: Winners Announced
type: Article
title: Nobel Prize in Economics 2012: Winners Announced
description: The Scientific Background compiled by the Economic Sciences Prize Committee of the Royal Swedish Academy of Sciences reads: “This year’s prizewinning work encompasses a theoretical framework for analyzing resource allocation, as well as empirical studies and actual redesign of real-world institutions such as labor-market clearinghouses and school admissions procedures.” The detailed information on this year’s prize and its scientific background can be found here. If you want to congratulate Alvin A. Roth personally, you can do so in his personal blog Market Design.
disambiguating description: “You can’t be an economist without noticing all the interesting things about how the economy works, it is natural to be interested in it and I have had the privilege to be able to study it” said Alvin A. Roth answering questions during the unexpected 4am call from Sweden. Together with Lloyd S. Shapley, Roth was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel – more commonly known as the Nobel Prize in Economics – “for the theory of stable allocations and practice of market design”. During the award speech the field was described as being “…about economic engineering, [and] how to design certain markets where the traditional market mechanism is expected to not work well.”
date posted: 2012-10-14T22:00:00Z
date modified: 2026-06-22T08:47:28Z
language: en
keywords: Lloyd S. Shapley
keywords: Economics Events
keywords: economics
keywords: Sveriges Riksbank Prize
keywords: Nobel Prize 2012
keywords: Alvin A. Roth
type: blog
disciplines: economichistory
disciplines: marketing
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: management
discipline labels: Economic History (JEL N)
discipline labels: Marketing
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Management

The 100th Anniversary of the Birthday of Milton Friedman
type: Article
title: The 100th Anniversary of the Birthday of Milton Friedman
description: Educated in the United States (BA 1932 Rutgers; MA 1933 Chicago; PhD 1946 Columbia), the majority of Friedman’s work focused on price theory, monetarism, and monetary history. He was a leading figure at the Chicago School of Economics, promoting free market economics and neoclassical price theory during his career as a professor at the University of Chicago. His school of thought was contrary to the dominating Keynesianism, and struggled to gain acceptance early in his career. But his theories gained traction most notably during the period of Stagflation in the US in the 1970s. Many have written far more in-depth overviews of Friedman’s influence in 20th century economics and policy than I could ever endeavour to, so, instead, I am just going to point out a few interesting facts about him: - In 1967 he served as the president of the American Economic Association. - It is well known that he won the Nobel Memorial Prize in Economics in 1976, but he was also awarded both the National Medal of Science and the Presidential Medal of Freedom in 1988. - His Nobel Prize was “for his achievements in the fields of consumption analysis, monetary history and theory and for his demonstration of the complexity of stabilization policy.” - He retired from full time teaching at the University of Chicago in 1977 but continued to publish as a Senior Research Fellow at Stanford’s Hoover Institute until his death in 2006. - Together with his wife, Rose, he published Free to Choose in 1980, based on a 10-episode television seriesfilmed in 1978 outlining their stance on economic and social policy. The book was voted top non-fiction that year and has been a best seller ever since. The television series can be found in its entirety online for example here. - The Cato Institute named a biannual prize after him in 2002. The ‘Milton Friedman Prize for Advancing Liberty,’ is awarded biannually to “an individual who has made a significant contribution to advancing human freedom.” - Milton Friedma…
disambiguating description: On November 16, 2006 the world lost one of the most influential economists of the twentieth century. Today, July 31, 2012, Milton Friedman would have celebrated his 100th birthday, which makes it perhaps a fitting time to stop for a moment and recall some of his contributions to the field.
date posted: 2012-07-30T22:00:00Z
date modified: 2026-06-22T08:33:06Z
employment type: onsite
language: en
keywords: economics
keywords: Great Economists
keywords: 20th Century
keywords: Milton Friedman
keywords: Keynes
type: blog
disciplines: economichistory
disciplines: economics
disciplines: macroeconomicsmonetary
disciplines: socialscience
disciplines: economicthoughtmethodology
discipline labels: Economic History (JEL N)
discipline labels: Economics
discipline labels: Macroeconomics and Monetary Economics (JEL E)
discipline labels: Economics and Social Sciences
discipline labels: Economic Thought & Methodology (JEL B)

To Open Access or Not?
type: Article
title: To Open Access or Not?
description: The Directory of Open Access Journals (DOAJ) defines ‘Open Access’ as “journals that use a funding model that does not charge readers or their institutions for access,” which encompasses both ‘self-archiving’ and ‘gold access’ publishing. The former is done by an author uploading their work on a website accessible to the public whereas the latter is a model whereby the author pays to submit their article to an established journal which will then be accessible to the public. The first and foremost issue in the fight against ‘Open Access’ is the journal industry, which stands to lose everything. A spokesperson from Elsevier went as far as pointing to stagnant library budgets and increasing global investment in R&D as a potential cause of the gap between information available and information affordable to libraries, a situation thus out of the journal industry’s control. In addition to journals, the cost of creating an accessible and financially viable open access space for high quality articles is not a cheap endeavour. The Finch Report – commissioned by the British Government – estimated GBP38m per year in publishing fees alone just during the transition period plus the additional funds (approx. GBP15m) to extend journal licencing and upgrade infrastructure. The numbers are certainly dependent on the model chosen, in that a gold access model would at least generate some income whereas self-archiving may or may not. To further this argument, the scientific journal ‘Nature,’ which already offers a gold access subscription,references the hard cost of editors, peer-review organizers, and online storage, which all play an expensive role in the publication of academic articles. They estimate the cost in an entirely open access situation to be as much as $10,000 per article in major (scientific) journals. The second issue is quality. Published journals have stringent guidelines for peer-reviews to ensure every published article is of a certain academic quality, which is not…
disambiguating description: ‘Open Access’ has been a bit of a buzzword in academic circles over the last couple of years. Its rise to popularity has come from a combination of factors including the increased price to access academic journals, as well as increased access to the internet, which has had the effect of speeding up the rate at which information travels.
date posted: 2012-07-19T13:55:00Z
date modified: 2026-05-12T10:32:42Z
language: en
keywords: Peer Reviews
keywords: Open Access
keywords: Scientific Journals
keywords: Research
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)

Why study Economics in a Foreign Language?
type: Article
title: Why study Economics in a Foreign Language?
description: While gaining proficiency in English remains the priority, economists` regard toward languages is changing. Progressive Economics explains in its article Language Economics: Why Santorum’s Argument Doesn’t Translate that globalization has driven economists´ attention not only to the increased flow of goods, but also to the increased flow of migration and the cultures and languages that comprise them. No matter which foreign language one chooses to learn, researchers at the University of Chicago have proven that economists benefit from studying in a non-native tongue. Their research shows that thinking through a problem in a foreign language helps one to make more rational decisions. Learning a foreign language teaches one to reduce emotional involvement and thus increases the likelihood of taking favorable risks. This is credited to a ‘’distancing mechanism” created during the learning process. Peter Cullen, expert in Content and Language Integrated Learning (CLIL) and lecturer at the University of Urbino, commented on the power of this ability, explaining how learning a second language allows the brain to benefit from a duality and improves the process of thought itself, which is „particularly important given that none of our economies really function in entirely mono-lingual contexts“. He defined the current global economy as an “integrated system of connected localities, regionalities and national-supernationalities which functions across many languages and their respective formal and informal institutional cultures.” With over 6700 spoken languages, which ones should economists study? Russian, Chinese and Arabic, though rising in popularity, can seem too difficult to learn for some, but a reignited interest emerging among economists for European languages, especially Spanish, French and German, has led to the creation of some hybrid programs all over the world. The aim of programs such as the IEML (International Economics and Modern Languages), the FLIE (Foreign…
disambiguating description: With English being considered the “must-have language”, is there a need for economists to learn a foreign language, or does it concern only those who work or want to work in the business field in a non-English speaking country?
date posted: 2012-06-19T22:00:00Z
date modified: 2026-05-12T10:20:23Z
language: en
keywords: economics
keywords: Economics in Foreign Language
keywords: Languages
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Three Economists Go Hunting
type: Article
title: Three Economists Go Hunting
description: Image Credit: Elena Agosti for INOMICS (original image, commissioned)
disambiguating description: Three Economists go out hunting
date posted: 2012-06-06T22:00:00Z
date modified: 2026-06-22T08:30:54Z
employment type: onsite
language: en
keywords: Jokes
keywords: economics
keywords: Comics
keywords: Humour
keywords: economists
type: blog
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
disciplines: finance
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)
discipline labels: Finance

The Economics of Language
type: Article
title: The Economics of Language
description: Which languages should be taught, aiming at what level of proficiency, for what reasons, and at what cost; these are some questions that this specific field of study analyzes with an economical approach. In particular, most of the economics of language belongs to the micro-economic level. One of its focus’ is on the effect of language on income, for example showing that the simple fact that belonging to a certain language group may result in a wage rate disadvantage. Some empirical studies have been conducted in order to prove the existence of significant language-based earning differentials, for example between anglophones and francophones in Canada, between migrant workers (Gastarbeiter) and native Germans in Germany, or between three language communities in Switzerland. Another core topic in this discipline is the effect of language on markets for language-related goods and services, such as language courses, textbooks, translation services, etc. In fact, the analytical concepts of supply, demand and market for any good/service also apply to language goods. However, the most useful application of the economics of language is its contribution to the analysis of language policy, a hot topic in a world where the knowledge of several languages is becoming increasingly important. Looking at advantages and drawbacks, the economics of language identifies and measures the elements of benefits and costs that characterize language policy options. It provides a consistent framework for the selection, design, and evaluation of language education policies, and it affects particularly university governance. As pointed out by Grin a lot of university departments in non English-speaking countries are facing a dilemma while designing study programs: 1) Should teaching and research operate in a variety of languages, even if this means resisting the trend towards doing more through the medium of language of wider circulation such as English? 2) Should teaching and research, on the …
disambiguating description: In between the common subdisciplines of economics like international or financial economics, lie many much smaller specializations, for example the economics of language. The term “economics of language“ is defined by François Grin, to be “the paradigm of mainstream theoretical economics and uses the concepts and tools of economics in the study of relationships featuring linguistic variables, it focuses principally, but non exclusively, on those relationships in which economic variables also play a part”.
date posted: 2012-05-10T22:00:00Z
date modified: 2026-05-12T10:18:12Z
employment type: onsite
language: en
keywords: economics
keywords: Economics of Language
keywords: Language Policy
type: advice
disciplines: othereconomics
disciplines: economics
disciplines: socialscience
disciplines: othergenerallinguistics
discipline labels: Other Special Economics Topics (JEL Z)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Other/General Linguistics

Growth of Econ Research in China
type: Article
title: Growth of Econ Research in China
description: US Institutions still Dominant As well as the headline ranking, anyone interested can use the sandbox ranking to define which years, countries or journals should be taken into account. Sorting the data by country and year, and based on contributions to all of the 62 journals sampled, the unsurprising dominance of US scholars in the field is confirmed pretty quickly. US Overtaken in Economics Research Output! More interesting is the convergence in the published contributions between scholars in the US and their counterparts elsewhere. In 2005 economists at US institutions accounted for 51.9% of contributions. By 2008 this had dropped to 47.9%, before recovering slightly to around 48.4% in 2010 and 2011. In dropping below the 50% mark, the rest of the world can be said, with but a tip of the tongue in one’s cheek, to have caught up in terms of annual contribution to the academic literature in economics. The increased output from scholars based in Europe, whose contributions accounted for almost 36% in 2011, up from less than 33% in 2004, accounts for much of this shift. BRIC: Up? Looking just at the BRIC countries, still minnows when placed in the context of the USA and Europe, the gradual advance in the share of contributions made to international journals, especially of China and Brazil, can be seen more clearly. Academics at Russian and Indian institutions on the other hand, seem to be struggling either to produce quality research, or at least to get published. Tempting job offers at American and European universities for top graduates from these countries might be a factor in this. Rise of China The academic rise of China is much discussed, with the PhD output across all subjects now surpassing the USA in terms of number of graduates (see this article in Nature from April 2011 for a nice overview). In terms of contribution to international economics literature, Chinese institutions are still some way behind their American and European counterparts. Quite interesti…
disambiguating description: The Tilburg University Economics Ranking Sandbox For anyone that doesn’t know it, the Tilburg University Economics Ranking, which ranks economics departments based on contributions to articles published in any one of 62 (mostly English-language) economics-related journals, is well worth a look.
date posted: 2012-05-04T16:12:51Z
date modified: 2026-06-22T08:27:00Z
employment type: onsite
language: en
keywords: economics
keywords: Research Output
keywords: china
keywords: Research
type: blog
disciplines: internationaleconomics
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: International Economics (JEL F)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Free Education to Replace Skyrocketing Tuition Fees?
type: Article
title: Free Education to Replace Skyrocketing Tuition Fees?
description: In response to this, many cheap(er) and free options have sprung up to tackle the question of learning for those who either cannot afford or do not want to pay the ever increasing fees. One tool that is consistent in this effort to circumnavigate fees is the Internet. By cutting the tradition costs of infrastructure, institutions can offer similar services for a cheaper cost. Also evident is the idea of crowdsourcing education. Below is a short list of some of the free alternatives from institutes, both new and old, to tackling the rising prices of education. 1) University of the People: According to their website, UoPeople is “the world’s first tuition-free online university dedicated to the global advancement and democratization of higher education.” UoPeople is structured as an online university offering undergraduate degrees (non-accredited) in Business and Computer Science, with additional courses in Arts and Sciences including Intro to Economics, Intro to Stats, and Statistical Interference. With some big name partners who knows whether or not this will be a model that will continue for both them and copycats in the future. 2) MIT Open Courseware: MIT has taken a different approach towards alleviating some of the costs of higher education by offering all of their courseware free to the world. While their ‘About Us’ makes it very clear that this courseware does not grant any degrees or other credential from MIT, it does provide supplementary information for those interested in brushing up or getting some background on a subject. 3) Both Yale and Harvard offer a similar programs: Yale Open Courses and Harvard Open Courses where they have videos of a number of their professors teaching popular entry level courses. 4) Open Culture: With the tag line: ‘The best free cultural & educational media on the web,’ I was curious to see what they had to offer. I came across and entire section called ‘Economics: Free Courses.’ The website links to iTunes, Youtube and downloa…
disambiguating description: The cost of education varies enormously depending on what one studies and where. In the last few years, there has been plenty of hype about the ‘Higher Education Bubble,’ brought to the attention of the media by the Economist last year. This phenomena seems to be particularly prominent in the business-oriented fields worldwide and as an overarching situation in the US.
date posted: 2012-04-26T16:08:16Z
date modified: 2026-06-22T08:25:55Z
employment type: onsite
language: en
keywords: Free Lectures
keywords: Resources
keywords: Free Courses
keywords: economists
type: blog
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)

Economics: It's not just about the money?
type: Article
title: Economics: It's not just about the money?
description: On Facebook, for example, we got 3 very different and equally interesting answers from INOMICS followers: 1) “In order to de-ideologize (sic) economic reasoning.” 2) “The jobs you can get are interesting, fun, and you can actually make a difference!” 3) “I studied economics to help further my background in logistics.” To get a further look, I approached the world of YouTube where I found a plethora of videos about why one should study economics. Here are some of the more prominent answers that I have come across thus far: To figure out and explain how the world works To understand the modern market economy To understand how and why financial crises occur Because it is applicable to everything To solve poverty To create an informed opinion To have the foundation to start my own business ‘Economics means success’ Opens a lot of doors for future careers in policy and government It is a good background for careers in finance and, of course, to make money! *You can find all of the videos from which these quotes are pulled on our YouTube channel at: http://www.youtube.com/user/INOMICSvideos Do you have a particular reason as to why you chose economics? Please leave it in the comment section below! Photo Credit: Saulo Cruz
disambiguating description: The move from high school to university or college can be a daunting one, often made more difficult by the question ‘what am I going to study.’ This is naturally influenced by personal interests, past experiences, parents, friends, and teachers, but when it comes down to it, it is the student that has to decide what is interesting for them. I have taken a troll around the Internet to see what people have to say in favour of studying economics and come up with some interesting answer.
date posted: 2012-04-13T15:57:01Z
date modified: 2026-05-12T10:17:05Z
language: en
keywords: economics
keywords: Finance
keywords: Economics Courses
type: advice
disciplines: economics
disciplines: socialscience
disciplines: generaleconomics
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: General Economics (JEL A)

Can you sell a $20 Bill for $200?
type: Article
title: Can you sell a $20 Bill for $200?
description: The big twist is that while the winner pays up and wins the $20, the loser still has to pay his last bid and get nothing. This addition changes the entire dynamic of the experiment as soon as the betting comes down to the last two people – both of whom are going to have to pay up, but only one of whom is going to get anything for it. This brings us to the purpose of the experiment: that point when students realize that they are no longer playing to win, but rather, they are playing not to lose. The $204 for a $20 bill is the extreme, albeit true, example of what happens when people get so scared of losing that they do the irrational and continue throwing money into the pot instead of cutting their losses before it gets out of control. It would be great if this only happened in this one, fairly harmless (except for the poor sod who paid $204 in an effort to try and save his pride), example, but, as many people know, this kind of behaviour sneaks into all sorts of corners in our lives both personal and academic. I guess this leads the question: can we avoid it? Or are we stuck waiting for the next slip? In an effort to explain this phenomenon referred to as ‘Sway,’ Ori Brafman, co-author of “Sway:” The Irresistible Pull of Irrational Behaviour in an interview with Alvaro Fernandez of the Huffington Post, defined it as “why perfectly rational people make irrational choices.” Unfortunately for most of us, however, the answer to the aforementioned question is no, we cannot avoid it. It is a phenomenon that affects just about everyone in every walk of life. Have you ever been in this position? Can you sense it coming on and when do you realize that you are too far in? Photo Credit: 401K
disambiguating description: Every year, Max Bazerman, a Harvard Business School professor runs the exact same experiment with his students. In short form, he auctions off a $20 bill but places strict rules on how the betting can take place regulating who pays, and who wins.
date posted: 2012-03-05T15:27:26Z
date modified: 2026-06-22T08:06:23Z
employment type: onsite
language: en
keywords: Irrational Behavior
keywords: Harvard Business School
keywords: Behavioral economics
type: blog
disciplines: microeconomics
disciplines: economics
disciplines: socialscience
disciplines: business
disciplines: management
disciplines: generaleconomics
discipline labels: Microeconomics (JEL D)
discipline labels: Economics
discipline labels: Economics and Social Sciences
discipline labels: Business
discipline labels: Management
discipline labels: General Economics (JEL A)

How To Deal With Nervousness During Presentations At a Conference
type: Article
title: How To Deal With Nervousness During Presentations At a Conference
description: Advance Preparation The very best way to keep your nerves under control is to have practised your entire presentation from beginning to end beforehand, at least once. A few days before your presentation, recruit a friend or two to sit with you and be your audience. You can practise in an empty lecture hall or classroom if one is available and if that will help you to feel more comfortable. But it's also fine to practise at your house, or even in a cafe or bar if you bring a laptop with you. Run through your whole presentation, including slides, and take note of any areas where you struggled to find the right words or weren't sure what topic to speak on next. That way, you can know which specific topics or slide you need to remind yourself of. However, it's important not to over-rehearse. You don't need to have your entire presentation memorised, and in fact doing so will only make your presenting style appear stilted and unnatural. You should be familiar with the material you're presenting (and if your presentation is about your research, you are likely to already be as familiar with the material as you need to be), and be able to anticipate some questions or criticisms that your audience might have. But remember that you are already an expert in this area – hence why you're presenting on it at a conference. There's no need to attempt to cram lots of extra information into your brain the day before a presentation; rather, let the knowledge that you already have guide you in how you present. Immediately Before You Present One issue that is almost bound to arise when you present, and can be very stressful, is problems with the computer, projector, or slides which you have prepared. Between different file formats, different laptop adaptors, and the difficulty in getting video or sound effects to work correctly in your presentation space, there is a lot that can go wrong. The best way to deal with this is to make sure you've tested out all of the equipment earlier in th…
disambiguating description: You've been accepted to give a talk at a conference, you've worked on your presentation, and you're ready to go – now you just need to keep your nerves under control! It's very common to struggle with nervousness when presenting, so consider these tips to help you deal with this.
date posted: 2011-10-30T23:00:00Z
date modified: 2026-05-12T10:06:26Z
language: en
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description: The Vienna Graduate School of Finance (VGSF) is a center of excellence for finance. Located in Vienna (Austria), it was founded by the Institute for Advanced Studies (IHS), the University of Vienna, and the WU (Vienna University of Economics and Business). These three institutions joined forces, and their expertise, to create a hub in Vienna aiming to produce internationally recognized research and provide a competitive PhD education. VGSF offers a structured, full-time PhD program in Finance. We offer a stimulating learning and research environment and financial support to outstanding students from around the world. Our faculty includes professors and junior faculty from IHS, the University of Vienna, and the WU. They are distinguished professionals, in their area of research, who publish in prominent journals. VGSF regularly invites leading scholars to teach courses and to present their current work. Our graduates can look forward to a rewarding career at leading academic institutions. For further information: www.vgsf.ac.at/phd-structure www.vgsf.ac.at/application www.vgsf.ac.at/faculty www.vgsf.ac.at/placements
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description: Utrecht University is an international research university of the highest quality and the alma mater of many leading names, academics and scientists who have made an important contribution to the quality of society. FACULTIES Utrecht University boasts seven faculties and three teaching institutes. FACULTIES Each faculty consists of a number of departments. Each department coordinates the research and teaching programmes of a specific field of science. Scientific staff are appointed at department level. Faculty of Geosciences Faculty of Humanities Faculty of Law, Economics and Governance Faculty of Medicine Faculty of Science Faculty of Social and Behavioural Sciences Faculty of Veterinary Medicine TEACHING INSTITUTES University College Roosevelt University College Utrecht Centrum voor Onderwijs en Leren (website in Dutch) WORKING AT UTRECHT UNIVERSITY At Utrecht University, we work together towards a better future for all of us. With our more than 6,000 members of staff, we provide socially relevant research and high-quality education. The university is an actively involved and committed part of our society, with the added value of an open mind about societal issues. We cooperate with other (international) universities, trade and industry, the authorities, the cultural sector and societal organisations. Working at Utrecht University means working at the best university in the Netherlands. At Utrecht University we strive to: Provide an unambiguous, challenging and sound work environment for all our staff; a work environment which boasts an open and transparent culture that puts quality before quantity; Encourage the personal and professional development of all our members of staff, scientific as well as support and administrative staff, and to provide a perspective that fits the developments within and outside of our organisation. Read more about working at Utrecht University STUDYING AT UTRECHT UNIVERSITY Utrecht University stands for broad and interdisciplinary edu…
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The Review of Economics and Statistics
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