Daily Life Economics

Tag: economy

  • Three books you should read if you like economics

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    dailylifeecon
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    List three books that have had an impact on you. Why? Books have a special way of shaping our thinking, and for those of us who see economics in everyday life, some stories and lessons stay with us long after we’ve turned the last page. Here are three books that have made a lasting impression…

  • Fear from the Lens of Economic Theory

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    dailylifeecon
    in

    What fears have you overcome and how? Fear can be viewed through the lens of behavioural economics as a deviation from rational decision-making. Let’s consider a common example: the fear of financial uncertainty, particularly when making career or investment decisions. From an economic standpoint, this fear is closely tied to loss aversion, a concept introduced…

  • Can we have it all? A economics perspective

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    dailylifeecon
    in

    What does “having it all” mean to you? Is it attainable? From an economist’s perspective, “having it all” can be interpreted through the lens of utility maximisation—a core concept in economics that refers to how consumers allocate scarce resources (like time, money, and energy) to satisfy unlimited wants and needs. In theory, the more a…