A prophecy and a flight from the Indonesian Rupiah – Part I

September 10, 2013

A prophecy and a flight from the Indonesian Rupiah – Part I The well-known statement “I think, therefore I am” has a bit more philosophical depth than I am willing and able to deal with so I shall simply use it as a diving board out into the skewed version I often use...

Singapore seeks answers to rising food prices

October 24, 2012

As the world population is growing and urbanization is speeding up, this  happens at a cost. More and more often we read in the news about rising food prices, and not only- we can feel it by the faster speed with which our pockets get empty. According to the United...

Global Food Prices on the Rise, UN says

October 6, 2012

UN Food and Agriculture Organization is concerned about the prices of food which are  again on the rise and are reaching levels similar to the levels in 2011 when high food prices and food shortages caused riots in countries in the Middle East and northern Africa....

Housing Search Trade-Off: Price vs. Commute Time

September 29, 2012

A good way to look at the concepts of “scarcity” and “opportunity cost” is to consider the price of rent of a flat near your school/work and the time that it takes to commute every day in case you live not so close to your school/work to avoid...

Pricing nature’s freebies

September 20, 2012

Another underlying theme in Economics is the theme of “opportunity cost”. Very often we see someone throwing a small waffle warp on the street instead of in a bin. And it may seem like an unimportant act, so does it really matter? I am living in China at...

US warns of new Sudan-South Sudan conflict over border

September 7, 2012

Here we are at the start of the school year again. The excitement is all over the place and those who just start their IB Economics course will come across concepts such as ‘scarcity’, ‘needs’ and ‘wants’. Scarcity of resources to...