If you only read one essay today…
…make it Why I Am Not an Austrian Economist, by Bryan Caplan.
I used to have a half-interest in Austrian Economics. The idea that utility is unquantifiable always made me slightly uncomfortable with the seemingly-quantified way in which neoclassical microeconomics uses it. It had not occurred to me that whilst the simple charts and graphs we [...]
In: business · Tagged with: austrian economics, economics, essay, microeconomics
Things You Should Know: Relative Prices.
I’ve decided to add a new category to this blog: Things You Should Know. As you’d expect, it’s going to be about useful bits of information that I think everyone should know. I’ll try to add a new post every time I talk to someone who doesn’t know something that they should and also when [...]
In: Things You Should Know · Tagged with: economics, relative prices
Bracketed Tax: A Guide.
Today I learned that not many people (even those around me who study business) actually know how much they get taxed, or how the Australian taxation system works. I’ve heard statements like “if you earn over $80,000, you’ll get taxed 40%, but under $80,000 you only get taxed 30%”.
If this was correct, a person [...]
In: business · Tagged with: brackets, economics, excel, tax
There’s no such thing as a… wait, what?
New York businessmen, as far as I can tell, are a special bunch. They love big words, big gestures and big paychecks. Unfortunately, in these tough economic times even the New Yorkers find their incomes reduced and as a result their lavish culinary expenditure has been curbed.
Only through extreme cleverness and guile can these sharply-dressed [...]
In: business · Tagged with: economics, expense a steak, marketing, new york
Plotting Marginal Cost Curves in Excel 2007: A Guide.
What follows here is a simple, illustrated guide to creating marginal curves in Excel 2007. As any economist (even those in-training, like myself) know, marginal curves have to be plotted halfway between two discrete points on the x-axis. It’s simpler than it sounds. Click through for the illustrated instructions!
In: business · Tagged with: 2007, cost curve, economics, excel, how to, marginal