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In most markets, scarcity corrects itself. When supply is low, prices rise, drawing in new suppliers. When demand shrinks, businesses close, and resources shift elsewhere. If a city lacks chefs, restaurant wages rise until cooking jobs become attractive again. If a town has too many hair salons, some shut down.Continue reading “Why Do Schools Stay Open When There Aren’t Enough Teachers?”

Introduction Economics is often described as the science of decision-making, yet its practitioners rarely agree on the best course of action. Perhaps it’s this diversity of thought that makes an economics degree so versatile—shaping leaders like Ronald Reagan, who leveraged his education from Eureka College to develop policies that remainContinue reading “Where Can an Economics Degree Take You Around the World?”

Co-organizer: CUHK Economics Rules: You write a referee report to critically argue why the key result of your selected CUHK Economics poster (1 only) isn’t correct. Submission deadline: Apr 30, 2025 (Wed) Eligibility: You must be a student of one of the secondary schools invited by CUHK Economics to 2025Continue reading “Some tips for CUHK Economics Research Centre Referee Report Competition 2025”

Promoting economics education has been one of our objectives. Many years ago, some members of the CUHK Department of Economics, CUHK Department of Curriculum & Instruction, and secondary school teachers collaborated and created a package of classroom games that support students’ learning. This package is called the ‘EconExperiments’.   AlthoughContinue reading “Introducing a Teaching Material Package – EconExperiments”

Success Breeds Success: The Decision Behind Hard Work Imagine this: you’re sitting down with a group of people, ready to work. Before anything begins, you pull a card from a deck. Maybe you’re lucky, and your card promises big rewards for your effort. Or maybe you’re unlucky, and no matterContinue reading “Success Breeds Success: The Decision Behind Hard Work”