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Economic Basics


A Beginner’s Guide to the Big Mac Index

What is the Big Mac Index? The Big Mac index was first used by ...
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Purchasing Power Parity (PPP) Explained

Quick Definition: Purchasing power parity is when the exchange rate is adjusted to allow ...
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Frictional Unemployment

Quick Definition: Frictional unemployment is the unemployment created with the movement between jobs in ...
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Economic News and Opinion


Premier League tickets – will prices ever stop rising?

The price of watching football in the UK has been the topic of much ...
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Should Economics be more mathematical?

This old argument of Qualitative Economics versus Quantitative Economics has always been controversial (we ...
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Pick your leader, Protect your system

Economists often assume government as a third-party agent, and is responsible for maintaining an ...
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Economic History


Forgotten Violent Actors: Privateers

Not nearly as famous as pirates, or as infamous as mercenaries, privateers have become ...
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The First and Second Bank of the United States – A History of Central Banking

The Hamiltonian banks The United States’ Federal Reserve is undoubtedly one of the most ...
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Opportunity Costs in Frederic Bastiat’s Broken Window

While in contemporary Economics the notion of opportunity costs is usually a foregone conclusion ...
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Economic Biographies


John Forbes Nash, Jr. (1928 – )

John Forbes Nash Jr. is an American mathematician and co-recipient of the 1994 Nobel ...
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John Maynard Keynes (1883-1946)

John Maynard Keynes (1883-1946) was a British economist most famous for a set of ...
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Milton Friedman (1912-2006)

Milton Friedman (1912-2006) was an American economist, famous for his writings that formed the ...
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Most Recent Articles


A Beginner’s Guide to the Big Mac Index

What is the Big Mac Index? The Big Mac index was first used by The Economist in 1986 as an informal guide to purchasing power parity (PPP). The basket of goods in this case is a Big Mac. It was chosen because McDonald’s is almost present in every ...
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Forgotten Violent Actors: Privateers

Not nearly as famous as pirates, or as infamous as mercenaries, privateers have become a largely forgotten phenomenon of the pre-modern world. Of course, this is a debatable opinion, since most history students would agree that privateering constituted a major element of global trade and military conflicts for ...
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Premier League tickets – will prices ever stop rising?

The price of watching football in the UK has been the topic of much discussion in the press recently, with many questioning why fans are being forced to spend so much money to watch their teams play. It has been clear for a long time that many supporters ...
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