Econs At Work

"The individual benefits as an individual from his ability to deny the truth even though society as a whole of which he is a part. Suffers."- So lets quench you thirst to understand this quote in this episode on the 'tragedy of the commons'.

You might have eaten kinder joy? Can you buy a kinder joy with just the creamy, chocolate balls and not the toy that comes inside for free, you wouldn't prefer that right because who wants to lose something? So here we describe and talk about this behaviour of yours in this episode of prospect theory.

What would happen if you shared currency with your neighbouring country? What would be the possible benefits and drawbacks of this? And are there some real life examples of this Optimum currency area theory? We are here to solve all these burning questions for you.

We are here to talk about the afoul result, which occurs when a government implements an expansionary fiscal policy-'the crowding out effect'. So to all the budding economics who are intrigued by this phenomena, then you are in the right place.

'Stability leads to instability. The more stable things become and the longer things are stable, the more unstable they will be when the crisis hits'- Hyman Minsky. So today we discuss about this quote in depth related to the financial income hypothesis.

Want to know the true source of uncertainty that lies in the intentions of others? So we talk and uncover the famous ‘Game Theory' for you in this episode.

You might remember the time when the Weimer government backed off in Germany when they were not able to pay the reparations and that caused sudden hyperinflation? So, we talk about all the content related to this logic in this episode of the Shock therapy.

So how do consumers safeguard their income according to the long term? Ever wondered about it and how it happens when we never know it's happening? So we cover every detail about the permanent income hypothesis for you in this episode.

We are seeing technologies taking a step further everyday right? Or newer innovations baffling us. So we are here today to take a deep dive into the concept of creative destruction.

Can fair voting ever take place? Beginning with the simple answer- no. So here we are to explain you all about the Arrow's impossibility theorem and this reasoning.

Everyone has a luxurious want right? Like owning a Mercedes-benz or having an Apple macbook pro. So, we explain this behaviour of yours and how it leads to the contradiction to the law of demand, the snob value status.

What set of policies are recommended when an economy wants to work towards a free market, and also wants to bolster economic growth? So here we bring forth to you the famous Washington consensus.

Ever heard about the impossible trinity in economics and how it impacts a country's policymaking? So, we are here to energize you with the Policy Trilemma!

Wages!!! Very close to an employee's heart. No employer can ever think or try to reduce one's wages. Want to know why? listen to this intriguing episode where we talk about the Sticky Wage Theory.

Your teacher might have given you the leverage of your deadline and still, you procrastinated and didn't manage to do your work? This behavior of yours can be correlated with the theory “Principal-Agent Problem”. Want to know how? Listen to this episode and dive deeper into this behavior of yours through Economics.

The quote ‘I Hate paying taxes but I love the Civilization they give me' aptly describes our thinking. Increasing tax rates have always been a demotivating factor to the working population. Want to know how? Listen to this episode where we talk about the Laffer Curve.

This episode features the Heckscher- Ohlin theory wherein we try to cover all the spheres that are possibly associated with it and try to clear out all your doubts regarding this theory.

Do higher prices always lead to you losing your job, hmmmmmmmm, something to think about? Well, don't worry as we have got you covered. Listen to this episode wherein we dig deep into the Phillips Curve which would help you clarify this question.

A 'bubble' in economics? Ever wondered about it and what it looks like? So we have got you covered with the investor's psyche that frames this bubble. From types, causes, stages, and real-world examples of this concept, you have never been so knowledgeable.

"Riches to rags" this phrase not only applies to humans, but to resource wealthy countries too. In this episode, we cover the paradox of Resource Curse, where we explore various aspects of this phenomenon. With tons of real-world examples, we make it as coherent for you as possible.

Ever worried about how future taxes will impact you and you reduced your spending? In this episode, we will talk about a theory that explains this behavior of yours. So sit back and get ready to expand your knowledge....

Ever wondered what the Neo-Malthusian theory was about? In this episode, we will be covering various aspects revolving around this theory including the assumptions, advantages, limitations, checks, graphs, brief about similar and contrasting theories. Through this podcast, we aim to broaden and widen your horizon regarding economics.