Author name: James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer

I am the Managing Director and Founder of Evansonslabs Consulting and Coaching. I have an M.Sc. in Economics and founded my first startup in 2015. As an Economic Consultant and Business Coach, I teach at public and private Universities and Colleges in Germany. I am also involved in community projects that promote entrepreneurship and youth learning. During the pandemic, I started teaching students using digital tools and focused on integrating digital solutions in startups in Germany. In 2016, I launched my second startup, ERGO Hauptagentur James Njoroge, in Freiburg im Breisgau. As a seasoned finance consultant and insurance agent, I confidently assist clients in discovering optimal coverage options that align with their unique needs. Furthermore, I possess the expertise to make sound investment decisions that guarantee long-term and sustainable returns.

Importance of Social Interaction

By / / Personality, Behavioral Economics, Diversity, Economics, Foundations of Economics, Globalization, Leadership and Management, Social Life, Sustainability

Importance of Social Interaction Read Post »

Social interaction is fundamental for human well-being and societal evolution. It cultivates relational growth, community spirit, and support mechanisms, promoting empathy, understanding, and communication. Yet, individuals often require help navigating social environments, particularly in the digital age. As such, participation plays an indispensable role in personal and communal development. Additionally, understanding social conflicts stemming from differing ideas, beliefs, and status can lead to a more peaceful, equitable society.

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Democracy and Autocracy

By / / Economic Policy, Behavioral Economics, Economics, Public Policy

Democracy and Autocracy Read Post »

This article compares democracy and autocracy, two forms of governance with contrasting ideologies and implications. Democracy, a system of government where power is distributed among the people, values citizen participation, representation, and safeguards individual rights and freedoms. Conversely, an autocracy concentrates power within a single ruler or a small group and often suppresses political participation and individual rights. Each system has unique strengths and weaknesses relating to decision-making processes, power distribution, political participation, and the protection of rights and freedoms.

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Competitive and Complete Markets

By / / Markets, Economics, Financial Markets, Foundations of Economics, Macroeconomics, Microeconomics

Competitive and Complete Markets Read Post »

Let us discuss the nature of competitive and complete markets in economics. A competitive market is characterized by multiple buyers and sellers who have no control over market prices. Conversely, a complete market involves trade in all possible goods with no future price uncertainty. While both types feature many market participants, they differ substantially regarding certainty about future prices. Markets play a crucial societal role, contributing to efficient resource allocation and allowing freedom of choice. However, market failures like externalities and information asymmetry drive the need for appropriate regulation.

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Preferences and Utility Theory

By / / Microeconomics, Behavioral Economics, Business Administration, Economic Blog, Economics, Foundations of Economics, Markets

Preferences and Utility Theory Read Post »

Preferences and utility theory are critical concepts in microeconomics, explaining household decision-making behavior. Preferences refer to how households make choices necessary to satisfy their needs when comparing bundles of goods. Utility theory uses mathematical concepts to express these preferences and elucidate household satisfaction levels. Rational preferences must meet completeness, transitiveness, continuity, convexity, and monotonousness. Various preferences exist, including substitutes, complements, perfect and imperfect substitutes, and perfect compliments. Preference and utility theory ultimately help derive the formal opportunity costs of alternatives in household theory.

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Social Order in Society

By / / Economics, Economic Policy, Globalization, Public Policy, Scientific Writing

Social Order in Society Read Post »

Social order, a dynamic, complex system enabled by various societal processes, encompasses diverse dimensions such as economic, social, political, and technological aspects. This article discusses the economic order, and elucidates the definitions of social and economic orders from an economist’s perspective. It also examines the relationship between societal subsystems, individual interactions, and social order. Furthermore, digital and government orders are explored, including their potential drawbacks, within the context of resource allocation, market failure, and social welfare.

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Corporate Financing

By / / Finance and Investments, Business Administration, Economic Blog, Financial Accounting, Financial Markets, Leadership and Management

Corporate Financing Read Post »

Corporate financing is how companies can obtain funds to invest in their projects. Respectively, there are different ways to raise funds for a business. This article elaborates on the overview of the types of financing available to firms in their financing decision. 1. Introduction to types of corporate financing What types of business financing do you know? Why do businesses need funding? Firms need access to scarce resources to implement their production plans and achieve profitability goals (rationale from economics and business administration). Consequently, that requires that they coordinate cash flows in each business period. Hence, companies can, on the

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Elasticity in Economics

By / / Foundations of Economics, Economic Blog, Economic Policy, Economics, Microeconomics, Public Policy

Elasticity in Economics Read Post »

Elasticity in economics represents the sensitivity of economic parameters like demand, supply, and prices, among others, to changes in affecting factors. It includes price elasticity of demand, which assesses demand changes if prices increase, and income and cross-price elasticity in household theory. Additionally, direct and indirect price elasticity of demand are derived mathematically. Also, firm and market theories apply elasticity to assess the price sensitivity of input demand, production, firm supply, and market representation.

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Demand in Economics

By / / Foundations of Economics, Behavioral Economics, Economics, Markets, Microeconomics

Demand in Economics Read Post »

Demand in economics refers to the quantity of a good that consumers wish to consume under certain conditions. Price levels, income, consumer preferences, and market structures influence it. Economics students must understand the nature of individual household demand and aggregate market demand and its implications in various market situations such as monopsony, oligopoly, and perfect competition. Price and income elasticity, optimality conditions, and social interactions are crucial in shaping demand.

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Merry Christmas 2021

By / / Life Coaching, Announcements, Economics of Pandemics, Love, Personality, Social Life

Merry Christmas 2021 Read Post »

“Merry Christmas 2021!” we will all say to our loved ones on Christmas. Yet it is another year celebrating Christmas amid a global COVID19 pandemic, but we must be optimistic, have hope and faith. You are probably looking for the best Christmas presents for your loved ones. But should we be thinking about material gifts or gifts for the soul? What is all about Christmas? Christmas is about the birth of Jesus: Merry Christmas 2021 For many Christians worldwide, Christmas is about the birth of Jesus of Nazareth, Son of Joseph and Mary, in Bethlehem. It is a season of

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