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.

Risk-Sharing and the Corona Pandemic

By / / Behavioral Economics, Economics of Pandemics, Global Crises, Globalization, Health Economics, Health risks

Risk-Sharing and the Corona Pandemic Read Post »

How can risk-sharing help resolve the Corona Pandemic? Corona Pandemic is a global health risk that all economies face together. However, the more each country seeks to solve the COVID19 crisis independently, the more all countries seem to lose control of the situation at society’s global, national, and local levels. The Corona Pandemic is a Global Health Shock The Corona Pandemic is a global health shock with a globally differentiated local impact that hit every corner of this earth. We can describe the impact of COVID-19 as an asymmetric shock on households, firms, and sectors within and across the world. […]

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Production Technology in Economics

By / / Foundations of Economics, Business Administration, Economics, Macroeconomics, Mathematics, Microeconomics

Production Technology in Economics Read Post »

Production technology in economics refers to the sum of all knowledge and capabilities of the society to combine scarce resources to produce final goods for consumption. This concept covers all industrial processes and exchanges within the value chain. The production function is the mathematical interpretation of production technology. Important concepts include the return to scale, the marginal product of inputs, and the change of marginal productivity. These concepts are also applied at both microeconomic and macroeconomic levels. The understanding of production technology requires some mathematical background.

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Rational Decision under Uncertainty

By / / Foundations of Economics, Behavioral Economics, Economics, Economics of Pandemics, Health risks, Leadership and Management, Personal Finance

Rational Decision under Uncertainty Read Post »

How would an individual make a rational decision under uncertainty? This article explains how economists characterize decision-making under uncertainty. Economic models always focus first on decisions under certainty and then introduce uncertainty later in the learning process. The focal point here is how this affects the rationality of agents’ decisions to use scarce resources. 1. Introduction to Rational Decision under Uncertainty We are all faced with daily situations where we have to make decisions that will lead to different outcomes immediately or later. Such decisions occur under uncertainty of results. Economic theory explains this problem in the models of decision-making

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Accounting Obligation in Germany

By / / Financial Accounting, Economic Blog, Economic Consultancy

Accounting Obligation in Germany Read Post »

What is the accounting obligation in Germany for all merchants? This article presents a general description and interpretation of Sections 238 and 239 of the German Commercial Code. Are you planning to start a business in Germany? Familiarize yourself with the legal accounting obligations applied in the German jurisdiction. Accounting Obligation – Section 238 German Commercial Code According to Section 238 of the German Commercial Code, all merchants have an accounting obligation in Germany. That means every merchant must keep books of account. The books of account should show all their commercial transactions. It should also show the status of

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Scarce Resources in Economics

By / / Foundations of Economics, Economics, Globalization, Macroeconomics, Microeconomics, Sustainability

Scarce Resources in Economics Read Post »

What are the scarce resources in economics, and why should society understand what they are? In your economics class, students should clearly understand the concept of scarcity and how it relates to economics. All the students want to know is why labor, capital, natural resources, human capital, and all other forms are scarce in all economies or the world. Time is also a scarce resource captured by labor, natural resources, wealth, and human capital investments. 1. What are Scarce Resources in Economics? So what is the meaning of scarce resources? Scarce resources in Economics are all kinds of inputs of production processes needed by

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Motives of Money Demand and Supply

By / / Macroeconomics, Economics, Foundations of Economics, Monetary Economics

Motives of Money Demand and Supply Read Post »

What are the motives of money demand and supply? Most of us participate daily in the money market as demand or even as suppliers without perceiving it. So why do we hold or withdraw money? Let us dig deep into the questions surrounding the functions of money and the motives of money demand in this article. Let us start by defining what money is. What is Money and its Funktions? Whoever wants to understand what money is should first look at the functions of money. Much of macroeconomic literature explains the money functions using three phrases: Learn how to describe

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Basic Arithmetic Operations in Mathematics

By / / Algebra, Mathematics, Quantitative Methods

Basic Arithmetic Operations in Mathematics Read Post »

Which basic arithmetic operations in mathematics do you know? In this article, we would like to summarize the basic arithmetic operations. These are addition, subtraction, multiplication, division, powers, roots, exponents, and logarithms. You can apply all these basic arithmetic operations in all fields of study (mathematics, economics, business administration …, etc.) and everyday life. 1. Introduction to the Basic Arithmetic Operations of Mathematics Without the basic arithmetic operations of mathematics, there is no logic and no foundation to abstract everyday life using numbers. What we perceive every day, we can summarize with numbers. But how can we review everyday phenomena

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Basic Rules of Summation

By / / Algebra, Economic Blog, Mathematics, Quantitative Methods

Basic Rules of Summation Read Post »

What are the basic rules of summation (axioms) in mathematics (algebra), and how do we apply the algebraic rules? In this article, we will explain the basic calculation rules. First, we will look at the commutative, associative, and distributive laws of summation. You will also learn about the neutral and the inverse element of counting the sum of numbers. You will need this knowledge in general mathematics, business mathematics, statistics, and everyday life. 1. Introduction to Basic Rules of Summation The axioms (basic rules) of summation are mathematical arguments of logical algebra. Every day we are confronted with mathematical problems

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Studying Economics in Freiburg

By / / Study in Germany, Economics, Freiburg im Breisgau

Studying Economics in Freiburg Read Post »

Studying economics in Freiburg is a fascinating experience for both locals and international students from all over the world. In this article, I would like to share some experiences and tips on organizing your studies in Freiburg. Why Study Economics in Freiburg? Although the Covid19-Pandemic has changed the university landscape, you might want to enjoy living at the foot of the black forest. You will find a multicultural city called Freiburg, which might inspire you to fall in love with a mix of urban life, suburban and country life, for those who love nature. Before we get lost in the

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