Photo by CHUTTERSNAP on Unsplash

The gravity model, initially made popular by the cartographer E.G. Ravenstein in 1889, was originated to study the impact of country size and location on migration patterns.

In 1954, economists Walter Isard and Merton Peck expanded the gravity model to examine the impact of country size and location on international…

Photo by CHUTTERSNAP on Unsplash

In recent articles, I discussed both the benefits of trade and the concept of comparative advantage. As we know, a country has a comparative advantage in producing a good if the opportunity cost of producing that good is lower in that specific country than it is in other countries. …

Photo by Michael Dziedzic on Unsplash

Economists often focus on the externalities that occur between individuals. Externalities can be thought of as a cost or benefit that is imposed on a party without the party agreeing to incur that cost or benefit.

Two common externalities that we see in the real world are trespasses and nuisances…

Aaron Schnoor

Occasional Writer, Full-Time Student at Campbell University, and Editor of Exploring Economics

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