The Royal Economic Society Annual Conference 2018

The remarkable and prestigious Royal Economic Society is one of the most important associations which promotes the study of the humanitarian science by providing news, resources, support, competitions and events. This charity was incorporated in the Royal Charter in 1902, the notorious club of British founded societies related to academics, from then it is the …

What the IB economics syllabus doesn’t teach you: An insight into the field of behavioral economics

If you open up the first few pages of an IB economics textbook, you will doubtless come across the word “rational”, in the context of explaining how economic agents (buyers and sellers, households and firms) interact. The assumption is, in the course of the two years of an IB economics student’s studies, that us humans …

Asymmetric information in economics and Moral Hazards

  In the world of economics, there are numerous variables that may affect markets, however, one of the most significant in terms of influencing the allocative efficiency of markets is information asymmetry. The concept is quite simple it supposes that in markets the buyer and the seller have imperfect knowledge of the products which they …