She cries Nov 16, 2021 She cries. Because she likes reading, when it rains. Even on a beautiful summer day. She cries. Because tears are more familiar. Even in a warm embrace of her lover....
Activism Oct 20, 2021 Why is activism taking over? If you look around, almost everybody is trying to be an activist. Most fields including but not limited to entrepreneurs, academics, government officials, religious groups...
Week 9 Principles of Economics Microeconomics Oct 18, 2021 Labour markets Marginal product of labour The increase in a firm’s revenue created by hiring an additional labourer. Declines with more labour. Firms hire as long as wage < marginal...
Week 8 Principles of Economics Microeconomics Oct 18, 2021 Profit maximization Costs and profit maximization under competition Profit is the main motivation for firms actions. In competitive industry firms maximize profits by choosing price and quantity. Competitive firms Similar...
Week 7 Principles of Economics Microeconomics Oct 18, 2021 Externalities Costs of trade Private cost - Paid by the consumer or the producer. External cost - A cost paid by bystanders, by people other than the consumer or the...
Week 6 Principles of Economics Microeconomics Oct 18, 2021 Trade Benefits Trade makes people better off when preferences differ. Value to buyer > value to seller for a trade to happen. Specialization - boost productivity by creating skilled labour...
Week 5 Principles of Economics Microeconomics Oct 18, 2021 Price Ceiling Price ceiling - Maximum price allowed by law. Effects of price ceiling Shortages Bad quality Lines and search costs Deadweight loss Misallocation of resources Shortages Bad Quality Main...
Week 4 Principles of Economics Microeconomics Oct 18, 2021 The price system Free markets are governed by the invisible hand of pricing. Free markets consist of very large number of strangers who need to collaborate with each other for...
Week 3 Principles of Economics Microeconomics Oct 18, 2021 Tax and subsidy Commodity taxes It is a tax on good. Who pays the tax does not depend on who writes the check. Who pays the tax does depend on...
Week 2 Principles of Economics Microeconomics Oct 18, 2021 Elasticity A demand curve is elastic when an increase in price reduces the quantity demanded by a lot. (and vice versa). Flatter curve. A demand curve is inelastic when an...