Corona-Crash and the global economy

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / August 8, 2023 / Global Crises, Behavioral Economics, Economic Blog, Economics of Pandemics, Financial Markets, Globalization, Health Economics, International Economics, Macroeconomics, Markets, Microeconomics

Corona-Crash and the global economy Read Post »

The Corona Crash in March 2020 significantly impacted the global economy, with many businesses forced to shut down and millions of people losing their jobs. Looking back, the stock market experienced a sharp decline, and many industries, including travel, hospitality, and entertainment, were hit hard. The pandemic caused a decrease in consumer spending, as people were either unable or unwilling to leave their homes. This led to a reduction in demand for goods and services, which in turn caused many businesses to suffer. The unemployment rate skyrocketed, and many people struggled to make ends meet. Financial Markets adjust to Corona-Crisis […]

Corona-Crash, COVID-19, Economic Crisis, Economic of Pandemics, English, Financial Crisis, Financial Markets, Global Economy, Global Health Shocks, Globalization, Health Economics, International Economics, Macroeconomics, Market Crisis, Microeconomics, Pandemic, Stock Markets

Opportunity Costs

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / August 7, 2023 / Foundations of Economics, Behavioral Economics, Economic Consultancy, Economics

Opportunity Costs Read Post »

One of the most critical concepts in economics is the concept of opportunity costs. It is the most fundamental issue of economics as a social science and explains the decision-making and behavior of economic subjects (or agents). Economic agents are private households, firms, and the government as a public household. While explaining the economic concept of opportunity costs, focus on why people choose to do, consume, or even spend time and resources on what they do. How do you make your choices and decisions? 1. Introduction: Definition of Opportunity Costs How can we define opportunity costs? Opportunity costs are costs

Basics of Economics, Costs, decision-making, economic concept, economic lectures, Economics, English, Freiburg im Breisgau, Marginal Rate of Substitution, Marginal Rate of Technical Substitution, mental accounting, non-monetary opportunity costs, opportunity costs, relative advantage, relative costs, specialization, University

Impact of the Coronavirus Pandemics on the Economic Policy Adjustments in Germany and in the USA

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / March 27, 2020 / Economic Blog, Economic Consultancy, Economic Research, Economics of Pandemics, Global Crises, Globalization, Health Economics, International Economics, Macroeconomics, Microeconomics

Impact of the Coronavirus Pandemics on the Economic Policy Adjustments in Germany and in the USA Read Post »

How are Governments courageously dealing with the Coronavirus-Pandemic and the Corona-Crisis? Worldwide politicians are reacting very differently. Reactions to the pandemic have now become a war between optimism and pessimism. While some politicians realize how serious the current health crisis will be, others are busy procrastinating about an optimistic future. Early birds catch the worm and can navigate through the health crisis, taking leadership on flattening the pandemic spread of the Coronavirus.

Competition, Corona-Crash, Coronavirus, Economic Consultancy, Economic Crisis, Economic Policy, Economic policy adjustments, Economic risks, Economic Shocks, Economic shutdown, English, Global Economy, Global Health Shocks, Globalization, Health Economics, Health risks, Optimism, Pessimism, Qualitative macroeconomic policy objectives, Quantitative macroeconomic policy objectives

How do Pandemics contribute to Innovation?

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / March 17, 2020 / Globalization, Economics of Pandemics, Health Economics, International Economics, Macroeconomics, Markets

How do Pandemics contribute to Innovation? Read Post »

How do pandemics contribute to innovation globally? The Coronavirus has caused the Corona-Pandemic disease COVID-19 to ravage human health around the globe. But are we at the edge? Will health scientists find solutions to this pandemic? How can the Coronavirus Pandemic contribute to innovation? Will medical researchers discover the healing vaccine to combat the coronavirus? Behavioral solutions have already been implemented to curb the virus’s spread. Social distancing is now a global model of behavior that should lead to lower infection rates, while society aims at finding a technological solution soon. The world needs quick-testing kits, vaccines, containment technologies, and

Competition, Corona-Crash, Coronavirus, English, Germany, Health Economics, Innovation, Pandemic, Patent, Property rights, United States of America

Synergy between Health and Economics: Oil-Price-Crash or Corona-Crash

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / March 13, 2020 / Economic Blog, Behavioral Economics, Economics of Pandemics, Financial Markets, Foundations of Economics, Global Crises, Globalization, Health Economics, Macroeconomics, Markets, Microeconomics

Synergy between Health and Economics: Oil-Price-Crash or Corona-Crash Read Post »

Health shocks can also cause economic shocks (ceteris-paribus). The coronavirus pandemic is one of the health shocks that might unravel another global economic shock. Why is that the case? Fact number one, health is a basic human need. Consequently, the satisfaction the health needs requires human decision-making in all economies. Decision-makers face the challenge of managing the synergies between health and economics amid a health shock. How is the Scenario?

Corona-Crash, Coronavirus, COVID-19, Economic Research, Economic Shocks, Economics, English, Financial Crisis, Financial Markets, Global Economy, Global Health Shocks, Globalization, Health, Health Economics

Understanding Macroeconomic Policy Objectives: Magic Square and Hexagon Explained

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / February 21, 2020 / Economic Blog, Behavioral Economics, Foundations of Economics, Macroeconomics

Understanding Macroeconomic Policy Objectives: Magic Square and Hexagon Explained Read Post »

Six macroeconomic policy objectives exist in an economy that are systematically pursued. These six objectives are symbolized by the magic square and the magic hexagon frameworks, which encapsulate the national economy’s four quantitative and two qualitative goals. The overarching intention of these economic policy measures is to optimize the overall societal and economic welfare of the economy. This framework categorizes and prioritizes the diverse economic policy goals and measures essential for achieving a balanced and prosperous economy. Much of macroeconomic analysis focuses on the four quantitative goals, but the analysis of qualitative macroeconomic objectives has gained momentum as climate change

Basics of Economics, economic lectures, Economic order, Economic welfare, English, magic hexagon, Magic square, Qualitative macroeconomic policy objectives, Quantitative macroeconomic policy objectives, Social welfare

Future of Sustainable Cooling Systems

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / January 21, 2020 / Economic Blog, Cooling Systems, Technology

Future of Sustainable Cooling Systems Read Post »

ABB has the patent (No. PCT/EP2013/064008) with the topic “Discharge of heat from the electrical switch house on the crane”. The inventors are Bo Edmundsson and Horst Schneider. In the electrical switch house (E-House) there are heat generating as well as sensitive components. In order to guarantee operational safety, the heat generated must be efficiently extracted from the electrical building.

Automated Cranes, CO2-Emissions, cooling capacity, Cooling Systems, Crane Systems, Data Centers, Efficiency, electrical switchgear buildings, English, Heat Discharge, Heat Exchanger System, Heat removal, HES System, Innovation, operational safety, Patent, Port technology, Sustainability, Technology

What is Econometrics?

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / January 10, 2020 / Econometrics, Foundations of Economics, Scientific Writing

What is Econometrics? Read Post »

Econometrics is part of the economic as a science, which deals with the statistical (empirical) modelling of economic theories (hypotheses) in order to explain, confirm or disprove economic theory empirically.

Albert-Ludwig-University of Freiburg, causality, data analysis, data analyst, Econometrics, economic models, economic theory, empirical models, empirical research, English, exam preparation, External Validity, hypothesis, internal validity, inverse causality, statistics, tutoring, University

The Technique of Scientific Writing in Economics

By James E Njoroge, M. Sc. (VWL) - Economic Coach, Consultant and Lecturer / November 21, 2019 / Economic Blog, Freiburg im Breisgau, Scientific Writing

The Technique of Scientific Writing in Economics Read Post »

Since I started training individual students from several economic faculties in German Universities about the technique of scientific writing, they asked me where they could find some inspiration to get an appropriate topic for their Bachelor and Master thesis. Depending on the regulations of your university, the supervising professor or lecturer may suggest a specific topic (area of research). Another alternative, the lecturer may give you handouts as an inspiration (starting point) for your research and expect that you will define your own specific research question and then consult with them to fix the final topic. Before you spend a

Bachelor Thesis, Creative Thinking, Economic Topics, Economics, English, Freiburg im Breisgau, Master Thesis, Mind-Maps, Scientific Writing, Spontaneous Thinking, Student, Student life, Study, Teaching, Technique of Scientific Writing in Economics, University, Writing skills

Corona-Crash and the global economy

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Opportunity Costs

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Impact of the Coronavirus Pandemics on the Economic Policy Adjustments in Germany and in the USA

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How do Pandemics contribute to Innovation?

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Synergy between Health and Economics: Oil-Price-Crash or Corona-Crash

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Future of Sustainable Cooling Systems

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What is Econometrics?

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The Technique of Scientific Writing in Economics

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English

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