Essays on topical issues, latest developments in UK and global economies, and answers to readers questions
Applying economics in everyday lifePosted on July 20, 2017
At the start of the academic year, I always feel a little pressure to justify the study of economics. Students come up asking things like, should they do economics or history? It’s hard to know what to say, but to get people excited about economics, it’s good to try and think how economics can be …...More
UK Inflation Rate and GraphsPosted on July 18, 2017
Current UK Inflation Rate CPI inflation rate: 2.6% (headline rate) CPI – D7G7 at ONS (page updated 18 July 2017) Source: Raw data General inflation tables | CPI annual % change D7G7 at ONS Other measures of inflation (CPIH) CPI including owner occupiers’ housing costs – 2.6% (CPIH – L550) Factory gate prices (Output prices) …...More
Fairness and ReciprocityPosted on July 14, 2017
In behavioural economics, studies have suggested individuals value the concept of reciprocity. If people are kind to us, we have a greater tendency to respond in kind – behaving more altruistically than self-interest theory suggests. Reciprocity can also work in a negative sense, with agents willing to ‘punish’ those who abuse the ‘rules of the …...More
A selection of e-books available from economicshelp.org. Includes NEW syllabus for AS and A Level Economics.