EconomicsToo

 This short post is to direct you to listen to a cracking podcast on the fs podcast, with Shane Parrish and his fascinating and wide ranging conversation with Robert Cialdini. Robert is a professor of psychology and author of one of the most insightful explorations into the art and science of persuasion, ‘Influence’.  A great listen, found via this link or through your favourite podcast app   https://fs.blog/knowledge-podcast/robert-cialdini/

This is an essay shared with us by Ee Jenn, a Year 12 economist at Garden International School KL, which has been entered into an economics essay competition. It has been a while since we have posted and following the recent pandemic and a period of online-learning, we are now back in school and wanted to get this blog back up and running so we can share some of the thoughts, ideas and wonderful work from within our community.  We wish Ee Jenn the best of luck with the essay, and hope you enjoy reading it as much as we did... How relevant is economics during a pandemic and in what way might economists make things better? The economy is socially embedded in modern society. Almost every individual is an economic agent, impacted by the decisions of economists, corporations and legislators – economic crises spillover into the everyday lives of individuals; vice versa, seemingly un-economic environmental crises like natural disasters or pandemics have proven to have detrimental economic...

It's always great to showcase outstanding work undertaken by our students and what follows below is an essay by Rachel Gibbons. She is a current Year 13 Economist at GIS and entered this essay into the  John Locke Institute Essay Competition, 2018... The John Locke Institute Essay Competition invites students to explore a wide range of challenging and interesting questions beyond the confines of the school curriculum and Rachel  was delighted to hear her essay on the gender/wage gap was shortlisted and received the award of High Commendation . As with all students, Rachel is open-minded and loves feedback, so feel free to pass on any comments about her arguments in the essay...enjoy! It has been said that a company may hire a woman for four-fifths of what a man would earn, to do the same job and do it just as well. If this were true, why would any profit-maximising employer choose to hire any men at all? Is there another explanation for the perceived gender wage gap? ...

Books provide the perfect mentors and teachers; they have the power to deliver directly to us the teachings, knowledge and wisdom of the many greats who have lived. Books literally have the power to change lives and I imagine that few of the most successful people throughout history would say they didn’t read or would struggle to share a book or two that they believed contributed significantly to their success... Link to image  source It is getting to that point in the academic year when Year 12, and Year 13 students in particular are starting to think about specific reading in preparation for their university applications and courses. Many have come to me looking for the (mostly economics) books that will set them apart, give them the insight to help them get ahead with their studies and to obtain application for the theory they are learning as well as to have something interesting to write about in their personal statements...we’ve been growing and developing a bookcase i...

It is always great to hear how students are getting on as they progress through life, moving on to bigger and better things... Many of our students at GIS go on to study at some of the world's best universities and it was wonderful to hear from Jia Yi Lim, who recently moved from Malaysia to the USA and is now settling into life at Harvard University. When in Year 13, Jia Yi was over-the-moon to have received offers from Harvard, Stanford and Cambridge ...having only made 3 applications! Harvard was chosen in the end, but it was certainly a decision which took considerable time, a lot of thought and careful deliberation. In only her first semester at Harvard, Jia Yi is loving life. Having been fortunate enough to have taught her A Level Economics as well as enjoy watching her debate and witnessed her incredible community service work ( Project Smile ), I thought I knew what Jia Yi was capable of. However, her contributions so far at Harvard, as I am sure you'll agree, a...

This Guardian article reports on the IMF Fiscal Monitor that has said raising taxes on the richest would have a net positive impact on the economies of wealthy nations. The report states that higher taxes on the wealthy would reduce inequality and would not lead to a slow down in growth...as long as the tax was not excessively progressive, that is! Inequality remains one of the most serious issues the planet faces; some economic theory suggests that a more progressive tax system is the solution. Greater tax would be levied on the rich which is then distributed to lower income earners in the form of goods and services (merit and public); this may be in the form of cheaper healthcare or education. However, progressive taxation has been out of fashion since the 1980's. Why is this the case? Joseph Stiglitz shares some insightful reasons in "The Price of Inequality" (2012) and expresses that 'government capture' by corporate and wealthy interests means that those...

The summer provides AS students the perfect opportunity to set themselves apart from other students and to get ahead, making their life that little bit easier for the A2 year. This might be in terms of being prepared for the A2 course but also for the all important university applications process, and the subsequent interviews... One excellent way students will set themselves apart is through reading. Universities say they want to see applicants reading relevant books that show they have an interest in the subject they wish to study. Imagine applying to do an economics degree having not read any books! It is not just about reading anything, it is about what you have read. So, to help you we have tried to provide you with some reading at various levels that should enable you to choose the appropriate books for you this summer. Don't forget, being up to date in terms of news and opinion is also critical so make sure you check out the further reading recommended in...