Examining the link between psychology and economics — Behavioral economics is an approach to economics that incorporates insights from psychology, sociology, and other social sciences to understand how people make economic decisions. This sector of economics seeks to explain why people often make irrational or suboptimal choices, and how these behaviors can affect economic outcomes. How is Behavioral Economics Different Than Normative Economics?

A few tips for navigating the ups and downs of the stock market — For many years, aspiring investors learning about the stock market would read that “mutual funds are the safest option.” And for over a decade, such wisdom reaped high rewards. That all changed within the past year. Mutual funds, once Wall Street’s darling of safety, suddenly began to perform poorly. For…

And what’s the big deal when the Fed raises rates? — The Federal Open Market Committee (FOMC), the monetary policy-making body of the Federal Reserve, will meet later today to discuss possible increases to the federal funds rate. Just one year ago, the federal funds rate sat at 0.5%. …

It’s the third bank failure in two months. What happened? — First it was Silicon Valley Bank. Then, two days later, it was Signature Bank. Now, two months after Silicon Valley Bank and Signature Bank shuttered their doors for the final time, First Republic Bank has failed. It’s the third U.S. bank failure in two months. If you include Credit Suisse…

Examining the causes and types of monopolies — A common overstatement by the U.S. media is to refer to large companies as “monopolies.” While large companies can be monopolies, the term has been overused to such a point that many Americans think every large company is a monopoly. …

Do the ads actually help a company’s bottom line? — The Super Bowl is any advertiser’s dream. With nearly 100 million viewers tuning in to watch the big game in 2022, the opportunity for companies to reach a large audience is high. …

Author’s note: this article was written by ChatGPT. Additional spaces between sentences were added to facilitate in the reading experience, but no content was changed. The following prompt was given to create the article: “Explain how ChatGPT is an example of technology versus labor in economics. …

ChatGPT, the AI language model launched by OpenAI in 2022, has created a frenzy of headlines and press releases within the past three months. The chatbot is exceptionally well-developed, capable of creating text from prompts within just a few seconds. It’s already clear that the software will change content creation…

Explaining Comparative Advantage Comparative advantage is a concept in economics that refers to a country’s ability to produce a particular good or service more efficiently than another country. …