Economics Terms A-Z
An asset is ANY resource that produces positive economic value for its owner - its owner being its owner as a result of a past event, most likely a transaction. There are two classes of assets, tangible and intangible, which are themselves made up of subclasses. Of the tangible variety, most commonly you’ll hear about current and fixed assets. Current assets refer to things that can be consumed, exhausted or sold, such as cash, stock, and marketable securities. Whereas fixed assets are assets that are trickier to convert into cash, like land, buildings, equipment and machinery.
In contrast, intangible assets lack any physical form; they are ethereal. As a result, their value can be harder to gauge, which can contribute to the occasional discrepancy between a company's value according to its own books, and its value as per market capitalisation. Examples of intangible are: patents, trademarks, goodwill, copyright, and trade names.
- A Blueprint for Success
Tips for a Successful PhD Application
Whether you are applying to a structured program like those typically found in the United States, an independent research PhD like those in much of Europe and elsewhere, or a hybrid of the two, the first step is to gather your thoughts (and paperwork) in an effort to convince the admissions board that you are the most qualified and motivated candidate for the position. Regardless of location or discipline, your application will almost certainly include a personal statement, transcripts, copies of your previous degrees and letters of recommendation.
- Study Advice
Why do a PhD?
If you're an economics student currently doing your undergraduate or Master's degree, you might be considering doing a PhD at some point. The idea of dedicating another three years or more of your life to original research is both exciting and terrifying, and the experience of actually doing it can be both exhilarating and harrowing. Taking the step towards doing a PhD is a big decision, and one that shouldn't be made without the proper research and consideration. Once taken, however, it can be an extremely valuable experience and one that can set you up nicely in the future.
- INOMICS Salary Report 2020
How COVID-19 has Affected Economists in the Global North and South
The damage wrought by COVID, far from equalising, has been pointedly prejudiced. While the virus itself may struggle to differentiate between people, the world in which it operates has no such problem. Indeed, its structures have ensured COVID’s disruption of employment has fallen unevenly across regions - the experience of economists a case in point.