University Carlos III of Madrid, Madrid, Spain Programs available: Master in Industrial Economics and Markets The objective of this Master's is to produce experts through solid training in three key areas: Industrial Organization, Business Economics, and Quantitative Economic Analysis. It is a two years program. The first year consists of courses on Microeconomics, Quantitative Economic Analysis, Finance, and Business Economics, which all the…

Introduction This Post focuses on masters in economics. For students with interest and aptitude in both social sciences and mathematics, economics can be the ideal subject to combine these skills. …

1. Obtain a four-year bachelor’s degree — Prospective economists must obtain a bachelor’s degree after graduating from high school. While an economist can have a variety of undergraduate degrees (e.g., accounting, finance, or mathematics), majoring in economics is clearly the best option for someone serious about the topic. There are two types of bachelor’s degrees in economics…

Introduction — The Neoclassical Growth Model (NGM) is more than just a growth model. It provides us with a powerful tool to think about a number of questions in macroeconomics, which require us to think dynamically. So let’s now put it to work! We will do so in a simple but important…

A wealthy nation isn’t synonymous with a developed one It’s difficult to determine how best to quantify the difference between developed and developing countries. Although gross domestic product (GDP) is one of the most well-known values for assessing economic health, several other metrics can also be used to gauge a…

The Basic Model of Labor Market Signaling Human capital is viewed as an input in the production process. The leading alternative is to view education purely as a signal. Consider the following simple model to illustrate the issues. There are two types of workers, high ability and low ability. The…

The Solow growth model is predicated on a constant saving rate. Instead, it would be much more satisfactory to specify the preference orderings of individuals, as in standard general equilibrium theory, and derive their decisions from these preferences. This will enable us both to have a better understanding of the…

Trade makes people better off, but how? In this post, we discuss the importance of specialization and division of knowledge. Specialization leads to improvements in knowledge, which then lead to improvements in productivity. …

The Balassa-Samuelson effect is why Mr. John always get a haircut when visiting a developing country like Somalia 🇸🇴 Goods that can be easily shipped sell for roughly the same price everywhere. There are differences due to taxes and transportation costs and such things, of course, but there is no…