This is week two of my behavioral economics crash-course, where I’ll be giving a general overview of a few effects and biases that cause people to act irrationally. There’s so many more, some we’ll get to in later weeks, but…
This semester I was lucky enough to get into a special topic economics elective titled Behavioral Economics. As I’ve mentioned in the past, behavioral economics is one of the fields that I find most fascinating, and as this is the…
Mercantilism in the 18th century is one of the earliest systems of economic thought. Mercantilists were businessmen who were involved with domestic businesses and as such were protective of manufacturing and limited imports as much as possible, even going as…
Many people know economics is commonly referred to as the “Dismal Science,” but why is this? Thanks to my History of Economic Ideas class, I now know why! No, it’s not because economics is boring, as many people believe this…
One of the first things I learned in my intro economics class was that good intentions do not always equal good outcomes. I found this idea fascinating, especially when my professor presented an example of how some safety regulations can…
