Everyday economics from the University of Puget Sound
In this final Sound Economics episode, Betina Elijah and Vale Discuss the Avian Flu, the FRED, and the worldwide matcha shortage. Thank you for listening! The Big Mac Index https://www.statista.com/statistics/274326/big-mac-index-global-prices-for-a-big-mac/
In This week’s episode. Vale, Betina, and Elijah discuss online shopping, sports’ economic impact on development, and the holiday season’s economics. Enjoy the podcast and your break!
In November, Millions of supporters from almost 20 countries participate in Movember, a month-long process of raising money for men’s health issues such as Prostate Cancer, Testicular Cancer, and Mental Health. People like Myself shave off all of their facial hair and then grow a “Mo,” a mustache, for the entire month of November while raising funds for this charity. As Movember is very important to me, I have participated in this month of charitable giving since 2021 and intend to do so for the rest of my life. As an Econ student, charitable giving from NGOs, like Movember, classified Continue reading Modeling Charity Through Public Goods Models
Eli and Betina discuss Marijuana legalization costs and benefits as well as the economic impact of the conflicts in the Middle East.
Dr. Bruce D. Mann, a beloved Economics professor at the University of Puget Sound, passed away on October 1st at the age of 78 from leukemia. This post is my attempt to highlight Dr. Mann’s remarkable life and contributions to his university and county. Bruce graduated from Antioch College with a BA in Economics before spending two years in Iran with the Peace Corps. He then received his PhD in Economics from Indiana University and started his lifelong career teaching at UPS in 1974. I was lucky enough to be in Dr. Mann’s 300-level microeconomics class before his passing, where Continue reading The Life of Dr. Bruce Mann
This last weekend, the 2023 Nobel Prize winners for Peace, Literature, Chemistry, Physics, Medicine, and Economics all received prizes commemorating Alfred Nobel’s death on December 10th. While not technically one of the main categories envisioned by the late scientist, the Prize for Economics is a memorial prize paid for not out of Alred’s estate but a Swedish bank. Regardless of the validity of the actual Nobel, the prize has acted as an esteemed Prize in economics, given to the likes of Milton Freidman, his protege Robert Fogel, and now the 77-year-old Harvard economist and historian Claudia Goldin. Goldin is not Continue reading The Work of Claudia Goldin: Gender Pay Gap and The Nobel Prize.
In most social sciences, religion has been viewed as a fleeting force in everyday life. In the view of Sociology, religion is a tie to a primitive past, and as people become more educated, religion disappears. In Political Science, religion is seen as a deteriorating force as countries develop into more democratic societies with higher levels of self-expression and belief. Yet both of these disciplines contradict increasing data from the developed world. In fact, in the U.S. alone, 43% of Americans identify as religious, and 33% identify as spiritual. According to a Harvard Economic Study, despite Sociology’s view of religion Continue reading Modeling Religion Through Economics
In my last few articles, I have discussed some of the benefits of raising the federal minimum wage and why we should regulate the federal minimum wage outside of politics. While I have clarified my stance, hearing perspectives from the other side of the aisle is essential. As an economics student who likes to get the complete picture of any issue I am discussing, it would be a disservice to you, the reader, and Myself if I did not fully flesh out this contentious issue. In this article, I will address the issue of Unemployment and the minimum wage. When Continue reading Does Raising the Federal Minimum Wage Reduce Jobs?
In my last blog post, I discussed the possible benefits of raising the federal minimum wage to 15 an hour. I noted that this is a critical discussion to have, and it is also very complicated. Given the issue’s complexity, many people, politicians, and protestors don’t have a complete picture. Instead, individuals rely on the political or physical benefits the minimum wage discussion brings directly to them rather than fully understanding all sides of the issue. While I am by no means different from these people, I hope that this particular blog post will convince you to look at the Continue reading Depoliticising the Federal Minimum Wage
In my last blog post, I discussed the frustration of tipflation, pointing to a real living wage as a solution. And so, it is paramount that we discuss the Federal minimum wage and the benefits of raising it. Last changed in July of 2009, the Federal minimum wage has remained at a meager $7.25 an hour. But more concerning, The Federal minimum wage is not tied to inflation, meaning Congress must manually raise the wage with a new policy every few years. When we look at the 2007 Federal wage adjusted for inflation, the minimum wage has decreased by 28% Continue reading Raise the Wage: A Discussion on The Benefits of Raising the Federal Minimum Wage