Economic News
Minimum wage in the UK increases by 6.2%
As of Wednesday this week, national minimum wage in the UK has increased by 6.2% for those aged 25 and above. This now means that any minimum wage worker over 25 will now be paid […]
Economic News
Consumer and Business Behaviour
Who ordered pizza? Everyone it seems! Papa John’s sales in the US are expected to be up 5.3% this quarter
With three out of four Americans now under some kind of lockdown, that is around 245 million people who now need to cook for themselves every day. Whilst many may be embracing their kitchens and […]
Consumer and Business Behaviour
The factory of the world is firing up again: China records strong growth in manufacturing activity for March
Whilst economies around the world are still on their knees, China seems to have picked itself back up again, after emerging from the worst of Covid-19’s destruction across the country. In battling the virus throughout […]
Economic News
The cost of the coronavirus so far: $7 trillion and counting
Since the outbreak of Covid-19 in January this year, governments and central banks around the world have been spending trillions of dollars in order to keep the global economy afloat. The scale of the economic […]
Consumer and Business Behaviour
Orange juice is the new king of commodities: prices set to soar!
As consumers around the world look for any way they can to fend off the deadly coronavirus, drinking copious amounts of orange juice has emerged as one of the most popular strategies. Packed full of […]
Aggregate Demand and Supply
US senate announces a $2 trillion fiscal stimulus
In response to the economic fallout from the spread of Covid-19 in the US, the Senate has passed a bill which will free up $2 trillion to be used for a coronavirus relief package. Since […]
Balance of Payments
As the dollar surges on global exchange markets, the pound drops to its lowest value on record
Using a measure called the broad effective exchange rate, a measurement of a currency’s value against a basket of their major trading partners, the pound has crashed to its lowest level on record. The pound […]
Basic Economic Concepts
Coal: the world’s dirtiest and most damaging fossil fuel has now become the most expensive!
As students of economics, these really are crazy times we are living through! From governments paying private sector wages to 0% interest rates, to toilet paper shortages, the latest to add to this list is the environment’s least […]
Consumer and Business Behaviour
Not even a cheeky Nando’s can help you through this crisis: Nando’s and McDonald’s to close all UK restaurants!
McDonald’s has announced that as of Monday evening it will close all 1,270 of their UK based restaurants until further notice. Employing around 135,000 people across the UK, this is going to put a huge […]
Aggregate Demand and Supply
We’ve heard about the toilet paper, but what else are people panic buying?
Since the deadly outbreak of Covid-19, there have been cases all over the world of panic-stricken consumers rushing to supermarkets and filling their trolleys with everything they can get their hands on. We’ve mainly heard […]
Aggregate Demand and Supply
UK government to step in and pay people’s wages
In yet another unbelievable day of economic policy in action, the chancellor of the exchequer, Rishi Sunak, announced yesterday the latest measures to protect people’s income, keep businesses alive, and encourage spending in the economy. […]
Aggregate Demand and Supply
Interest rate in the UK has been cut to lowest in history – what a time to be studying economics!
For the second time in a week, the Bank of England has cut interest rates in an attempt to rescue the UK economy from the jaws of a coronavirus induced crash. In an unprecedented move, […]
Consumer and Business Behaviour
Hundreds of thousands of extra workers to be employed by online delivery companies
It’s not all doom and gloom! Well… it is mostly. But with all the negative economic news in the last few weeks, here is a more positive story to tell. With the coronavirus now a […]
Consumer and Business Behaviour
Apple faces a record US$1.2 billion fine for fixing prices in France
In a huge show of strength against the so-called anti-competitive practices of US tech companies, the French competition watchdog has fined Apple a record US$1.2 billion. US tech companies have been under intense scrutiny in […]
Aggregate Demand and Supply
Now this is monetary policy: US Federal Reserve is throwing everything it’s got at the coronavirus
In an unprecedented move today, the US federal reserve, which controls and coordinates American monetary policy, has announced a cocktail of measures to combat the economic fallout from the coronavirus which utilises almost every weapon […]
Consumer and Business Behaviour
Bookies will lose billions as no sport means no bets are placed!
With airlines tiptoeing on the edge of collapse, empty hotels filing for bankruptcy, and restaurants forced to shut their doors for the last time, the financial impact of the coronavirus is not holding back. As more countries […]
Aggregate Demand and Supply
Welcome to the bear market: global stocks have had their worst day since the crash of 1987
As the spread of the coronavirus continues to wreak havoc, stock markets around the world have continued their freefall. The Dow Jones, one of the world’s most trusted indices and a strong indicator of global […]
Aggregate Demand and Supply
Now is the time to borrow: Bank of England slashes interest rates to 0.25%
In an attempt to combat the economic fallout caused by the outbreak of the coronavirus, the Bank of England has taken the extreme measure of cutting interest rates from 0.75% to 0.25%. Monetary policy of […]
Consumer and Business Behaviour
Korean Air forced to ground 80% of flights
Korean Air, the largest airline in South Korea, is currently fighting for survival after the outbreak of the coronavirus has forced them to ground thousands of flights. As of writing this article, South Korea has […]
Consumer and Business Behaviour
Lobster for dinner? This luxury treat is now selling at bargain prices!
Lobster, a seafood delicacy which is usually only eaten on special occasions, has seen its price slashed by over 50%. This is great news for American families who can have a luxury dinner at bargain […]
Consumer and Business Behaviour
Crude Oil takes a 30% dive as Saudi Arabia gears up for a price war
The world awoke to the largest drop in oil prices in 29 years today as Saudi Arabia, the world’s second largest oil producer, seemingly instigated a price war against Russia. The huge drop in […]
Economic Growth
Lebanon is forced to default on debt as a financial crisis consumes the economy
The Prime-minister of Lebanon has announced that the country in Western Asia is to default on a huge debt repayment of US$1.2 billion which was due to be paid on March 9th. The Lebanese economy […]
Consumer and Business Behaviour
Free public transport for everyone in Luxembourg!
As of March 1st, 2020, all public transport in Luxembourg is now free. Yes, you read it right. All free! This is the latest measure taken by the government of the tiny European nation in […]
Basic Economic Concepts
Paper gold: could the price of toilet paper be about to skyrocket?
With growing concerns over the spread of the coronavirus in Australia, supermarkets and other retailers have been stockpiling supplies of toilet paper over fears that they may face a sudden shortage. In response to the […]
Basic Economic Concepts
Is Germany’s ice wine production the latest victim of global warming?
For the first time in years (perhaps ever!), a warm winter in Germany has led to all German vineyards unable to produce the expensive and popular alcoholic drink known as ice wine. Ice wine is […]
Consumer and Business Behaviour
Coronacrisis in Japan: hotel is forced to file for bankruptcy
A hotel in Japan which is popular amongst Chinese tourists has been forced to file for bankruptcy following a sharp fall in demand. The outbreak of the novel coronavirus has led to a huge decrease […]
Consumer and Business Behaviour
Here is ten thousand HK dollars… Help kickstart our economy!
In an unprecedented move to help boost the ailing Hong Kong economy, the financial secretary Paul Chan has announced a HK$10,000 cash handout for all permanent residents aged 18 or above. This creative fiscal policy […]
Economic News
Falling phosphate exports from the disputed territory of Western Sahara
Moroccan phosphate exports have fallen to an eight-year low from the disputed territory of Western Sahara with exports in 2019 almost half of that in the previous year. In 2018, the North African country exported […]
Aggregate Demand and Supply
At what cost should the UK balance its budget?
All eyes are on the UK’s new chancellor, Rishi Sunak, who will soon be announcing the government’s budget for the coming year.  Since 2010, the UK government has been aggressively cutting public expenditure in […]
Aggregate Demand and Supply
Corona Credit Crunch for many Chinese businesses
With millions of people in self-imposed quarantine across China and severe travel restrictions, small and medium sized businesses could be on the verge of collapse. Since the outbreak of the deadly coronavirus in January, businesses […]
Economic News
Can the economically inactive fill the staff shortages in the UK?
The British Home Secretary has suggested the training and upskilling of the economically inactive in order to fill the large staff shortages in British businesses across the UK. According to Patel, there are over 8.45 […]
Basic Economic Concepts
When supply outstrips demand: American wine at its lowest price in 20 years!
The price of wine is dropping fast in the US as a result of changing patterns in consumer behaviour. Where wine was once the popular choice of alcoholic beverage for many young Americans, demand has […]
Aggregate Demand and Supply
Consumers in Israel are consuming their way to economic expansion
An unexpected surge in economic growth at the end of 2019 was very good news for the Israeli Prime Minister Benjamin Netanyahu who will soon be battling in a national election. GDP increased by 4.8% […]
Consumer and Business Behaviour
Facebook CEO to agree to paying more taxes overseas
Despite an ongoing US$9 billion court case in the US over tax evasion, the CEO of Facebook Mark Zuckerberg has stated that the social networking company will be willing to pay more taxes outside of […]
Aggregate Demand and Supply
Global defence spending increasing in an uncertain world
Defence spending across the world increased significantly in 2019 according to a report by the Institute of Strategic Studies (ISS). The data collected by the ISS for 2019, shows that world-wide defence spending increased by […]
Economic Growth
Study suggests that one-third of all plant and animal species could be extinct by 2070
A recent report by a team of US scientists at the University of Arizona has suggested that owing to the climate crisis, the world could see a dramatic extinction of over a third of all […]
Aggregate Demand and Supply
When high levels of demand come back to bite: inflation in Ghana continuing its upward trajectory
The inflation rate in Ghana, as measured by the consumer price index, ended at 7.9% in 2019. In a recent research study in the west African nation, prices are expected to continue their rise throughout […]
Aggregate Demand and Supply
Interest rate in Pakistan to stay at a mighty 13.25%!
Pakistan’s high interest rate of 13.25% is unlikely to be changed anytime soon according to analysts in the country. Monetary policy, which involves the government’s manipulation of the interest rate, has been the favoured tool […]
Consumer and Business Behaviour
American productivity bounces back in the fourth quarter of 2019
After a dismal 0.2% decline in productivity in the third quarter of 2019, American workers bounced back through October to December, recording an increase in productivity of 1.4%. This comes from a recent report from […]
Aggregate Demand and Supply
US government to increase spending on Artificial Intelligence and Quantum Computing
Reports from inside the Whitehouse have suggested that the Trump administration is set to announce huge increases in spending on Artificial Intelligence (AI) and Quantum Computing for their 2021 budget proposal. The research and development […]
Consumer and Business Behaviour
Is Argentina the best place to buy a house this year?
For the last two years, a dark cloud has been over Argentina as they contend with a serious economic crisis. The South American Country, and third largest economy on the continent, has been in a […]
Consumer and Business Behaviour
The more you honk the more you wait: Mumbai’s innovative solution to impatient honkers!
Local government in Mumbai have come up with an inspired plan to cut noise pollution across the city. Fed up with honking drivers waiting at the city’s junctions, traffic lights have been installed with listening […]
Balance of Payments
Kenya and the US look set to sign a free-trade deal despite Trump’s attacks on global trade
Under President Trump, the US stance towards global trade has become increasingly protectionist, with billions of dollars of tariffs placed on goods from countries all over the world, engagement in a devastating trade war with […]
Consumer and Business Behaviour
Oil prices make a 2% comeback after a 5-day slump
After 5-days of significant loss, oil prices made a comeback on Wednesday with prices increasing by just over 2%. Reports suggest that the 2% jump, reflecting greater confidence in the market, could be a result […]
Balance of Payments
Supply of Malaysian Palm Oil fallen to two-year low
Palm oil, which accounts for over 5% of Malaysian exports, has seen a dramatic decrease in stock levels with the figure for January at its lowest since June 2017. The low stock level has been […]
Consumer and Business Behaviour
Chinese economy could take a US$60 billion hit following the deadly coronavirus outbreak
The economic impact of the coronavirus is still a guessing game at the moment, but one thing is for sure: it is going to be big. The impact on the services sector alone has already […]
Consumer and Business Behaviour
Egypt the largest FDI recipient in Africa in 2019
In the latest World Investment Report by the United Nations Conference on Trade and Development (UNCTAD), it was announced that Egypt held on firm to its position as the most attractive country for foreign direct investment (FDI) […]
Balance of Payments
Korean exports continuing to plummet
The value of Korean exports in January has decreased for the 14th straight month, with the Asian nation posting an export figure of US$43.35 billion, a 6.1% fall from the previous year. One reason for the […]
Balance of Payments
Unemployment levels in Hungary at a record low!
Hungary, a land-locked country of 9.7 million people nestled between Austria and Romania, is not a country which receives a huge amount of global attention. So here is an article for you Hungary, home to […]
Consumer and Business Behaviour
Stock prices surge for companies working on a coronavirus vaccine!
Following the deadly outbreak of the coronavirus in Wuhan, China, a number of companies and academic institutions around the world are racing against the clock to find a vaccine that can combat the virus. For […]