The simple prisoner’s dilemma

The simple prisoner’s dilemma

Game theory is an area of Economics that is increasingly used to explain many situations where strategic thinking and action is involved.  It is “the formal study of decision-making where several players must make choices that potentially affect the interests of the other players”  (von Stengel & Turocy).  It is an area study which has led to …

Fight of the Century

Fight of the Century

One of the major topics that we need to understand in macroeconomics is the distinction between Keynesian and Neo-Classical ideas, and how these different ideas lead to different conclusions about what policies governments should pursue.  Below is the second of the Keynes ‘v’ Hayek videos we have watched.

The Girl Effect 2

The Girl Effect 2

We have already seen the short animation produced by The Girl Effect, and below is a newer short animation that has been produced.  There have also been a number of more recent news articles relating to gender inequality and empowering women to aid development.  The BBC has a slideshow narrated by an 18 year old …

The Boy who harnessed the wind

The Boy who harnessed the wind

William Kamkwamba is a Malawian boy, who at the age of 14 built a windmill to power his family’s home.  This is not only an inspirational story of a young boy who was proactive in helping his family to try to escape poverty and hunger, but also a great example of appropriate technology being used …

The Girl Effect

The Girl Effect

When we are looking at economic development, one of barriers we look at is gender inequality, and how improvements for females in terms of health, education etc. can lead to a multiplied effect over time.  This can be a major driver of economic development and is now something that is looking to be improved upon. …

Permits to pollute

Permits to pollute

The issue of tradable permits, or cap-and-trade schemes is a important one at the moment, and it is a relevant solution to negative externalities of production in the microeconomics section of the course.  The basic idea is to set a limit (cap) on the amount of pollution and then divide this up into permits that …

The luckiest nut in the world

The luckiest nut in the world

This video is a good explanation of the potential impacts of trade upon the developing world and the policies of organisations such as the IMF and World Bank.  Remember that it is important to have case study examples for the exam. Please upgrade your browser

Keynes ‘v’ Hayek

Keynes ‘v’ Hayek

The website Econstories.tv has produced a rap video about the arguments of Keynes and Hayek. It gives a good summary of the two and also shows the conflict between their ideas (a potential issue for evaluation). The website also has the lyrics (and song download) and further information about the 2 economists. Please upgrade your …