In continuation with the college theme this week, I’m going to examine the rapidly falling admission rates to what people consider some of the best colleges in the world, especially in the United States. “Top tier” colleges, such as Stanford, the Ivy League, MIT, the University of Chicago, and other schools, have famously renown academic departments – and … More Econ in the News: Plummeting Admission Rates at Top Tier Colleges

Although there are more than 4,000 colleges in the United States alone, a select few have been able to build immense brand-name recognition, whether that be for athletics (University of Alabama), academics (MIT), or both combined (Stanford). These trademarks, worth billions of dollars, have led to confrontations between enterprising vendors selling college-inspired items and colleges who wish … More Econ in the News: The Power of a College Trademark

For students across the United States, the end of August signals the inception of the next school year. For retailers, that means one final rush for back-to-school supplies. The National Retail Foundation estimates that families with school-age children will spend an average of $630 this year on school-related supplies. This includes clothing (92.7%) , shoes … More Econ in the News: Back-to-School Spending

Venezuela has been suffering from major hyperinflation during the past few months, due to the current government printing the Bolivar currency so much that it is nearly worthless. After the inflation rate skyrocketed to 68%, the government ceased reporting inflation figures. This has led some economists to make use of unusual (and delicious) methods to track the hyperinflation. Miguel Octavio, a Miami-based financial … More Econ in the News: Arepas and Hyperinflation

            This week’s Econ in the News brings us to the murkier realm of North Korea. As markets increase in prominence, reports of taxes and bribes being imposed on these markets by the North Korean government have also increased in frequency. The result is something known in Korean as a “grasshopper market”, in which … More Econ in the News: Grasshopper Markets and Lotus Flower Capitalism

In Palo Alto, you hear a lot from student groups and activists about the increasing gentrification of San Francisco neighborhoods. The long-term implications of rising home prices were recently brought to light by a Business Insider article; because of the sky-high prices, teachers are being priced out of city schools. As the new school year dawns, San … More Econ in the News: When Housing Affects the Next Generation