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Tag Archives: economy
Money Mondays: International Economics
So far this semester we’ve talked a lot about economics in terms of a single country. However, the economies of other countries have an effect on our economy, as well. One way this is obvious is by looking at exchange … Continue reading
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Tagged economics, economy, international
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Money Mondays: Gross Domestic Product
The Gross Domestic Product, or GDP, is probably one of those acronyms that you’ve heard a lot but don’t really understand unless you’ve taken an economics course. According to Investopedia, GDP is “the monetary value of all the finished goods … Continue reading
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Tagged economics, economy, GDP, gross domestic product
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Money Mondays: Unemployment
One often-discussed economic topic is that of unemployment. If you ever listen to the news, you’ve probably heard someone mention the unemployment rate. “This is the number of unemployed persons divided by the number of people in the labor force” … Continue reading
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Tagged economics, economy, labor market, unemployment
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Money Mondays: Monetary Policy
A few weeks ago we talked about the roles of the Federal Reserve, one of which is to develop monetary policy. This is managed by the Federal Open Market Committee, also known as the FOMC. The FOMC “[determines] the size … Continue reading
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Tagged economics, economy, federal reserve, monetary policy
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Money Mondays: Inflation
Last week we discussed the Federal Reserve System, which is responsible for managing the economic health of our country. There are a number of factors the Fed must consider when creating effective monetary policy. One such factor is inflation, which … Continue reading
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Tagged economics, economy, inflation, purchasing power
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Money Mondays: The Federal Reserve
The Federal Reserve, also called the Fed, is the central banking system in the United States. The Fed is responsible for printing national currency, issuing savings bonds and Treasury bills, regulating domestic and foreign member banks, and engaging in monetary … Continue reading
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Tagged economics, economy, federal reserve
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Money Mondays: Competition
A few weeks ago we talked about supply and demand, and how there is an ideal equilibrium between the two. This equilibrium exists because of competition in the marketplace. According to Investopedia, “Under perfect competition, there are many buyers and … Continue reading
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Tagged adam smith, competition, economics, economy, invisible hand
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Money Mondays: Cost-Benefit Analysis
Last week we talked about opportunity cost, or the cost of choosing to do or buy one thing rather than another. Think back on some of the big decisions you’ve made, such as choosing a college. When you made that … Continue reading
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Tagged cost benefit analysis, decision making, economics, economy
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Money Mondays: Opportunity Cost
Two weeks ago we talked about supply and demand. Whenever you buy something (playing a role in demand), you give up the opportunity to buy something else. Alternatively, whenever you decide to do something with your time (such as watch … Continue reading
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Tagged economics, economy, opportunity cost
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Money Mondays: Market Equilibrium
Last week we talked about supply and demand. This week we’ll focus on the relationship between those two concepts. The Law of Supply and Demand, illustrated by the graph below, states that there is an equilibrium between supply and demand. … Continue reading
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Tagged demand, economics, economy, market equilibrium, supply
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