EAL: Economics as an Alien Language

This year's exam papers are a true mix of the good, the bad and the utterly confusing. Looking at the papers with a wide-angle lens, coverage/depth was excellent and there were no egregious examples of peripheral and non-core issues aimed at with the questions. And, once again, as in every exam since 2013, theory of the firm was 100% avoidable – which is either good or bad, depending on the whether you lean towards being able to strategically target revision ...

Price discrimination online

Most of you students are pretty 'switched on' in terms of what we old people still marvel at; the Internet. You have never lived in a world without internet - which is pretty much what my dad said (he was born in 1928) to me about TV. No, relax, this is not going to be some sort of rant about taking things for granted or any sentence starting with "...young people today..." I am a big fan of technology and ...

Ever more kinked…

I have just revised oligopolies in theory of the firm (ToF) for HL students in IB2. I introduced the kinked demand curve a bit differently this time: I outlined the premises carefully, drew the market equilibrium point in a diagram and then asked the students to carefully obey the PED conditions of '...if I lower my price and the other firms follow...' in drawing the demand curve. This gave an entirely different outcome than most textbooks! I also played a game ...

Eternal City

As the recently passed away Yogi Berra would say: "No matter where you go, there you are!" Undersigned has just moved from Shanghai to Rome (the one in Italy, not USA) and after some three months of living out of suitcases, I now have a place to put my collection of watches. Yes, home it is. I've been here a few weeks and am overcome by how incredibly lovely the Romans are! Warm humour and generosity of spirit are defining characteristics ...