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. This is how markets work—orContinue reading “Why Do Schools Stay Open When There Aren’t Enough Teachers?”
Category Archives: Economic Research Centre
Where Can an Economics Degree Take You Around the World?
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 remain hotly debated today. For thoseContinue reading “Where Can an Economics Degree Take You Around the World?”
Some tips for CUHK Economics Research Centre Referee Report Competition 2025
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 2025 poster session Prize: Amazon couponContinue reading “Some tips for CUHK Economics Research Centre Referee Report Competition 2025”
Introducing a Teaching Material Package – EconExperiments
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’. Although the curriculum is based onContinue reading “Introducing a Teaching Material Package – EconExperiments”
Success Breeds Success: The Decision Behind Hard Work
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 matter how hard you work, theContinue reading “Success Breeds Success: The Decision Behind Hard Work”
Economic Insights into Norway’s Disability Insurance Welfare System
Disability insurance (DI) isn’t just a policy challenge – it’s a delicate balancing act. Governments must ensure those truly unable to work are supported, while also keeping the system efficient and preventing misuse. But how can we determine who qualifies for aid, especially when it comes to invisible ailments like chronic pain or mental healthContinue reading “Economic Insights into Norway’s Disability Insurance Welfare System”
Why Math: The Invisible Hand Shaping Economics
At its core, economics is about making sense of the world—how we allocate resources, make decisions, and how those decisions ripple through societies. Yet, to truly understand the complexities of economics, one tool stands out as indispensable: mathematics. It’s not just a support structure; it’s the very backbone that holds much of the discipline together.Continue reading “Why Math: The Invisible Hand Shaping Economics”
Economics in Action: Museums Where Learning is Fun for Everyone
We often drift to art, history, or science exhibits when we think of museums. However, economics, a subject that shapes our daily lives, can also be experienced hands-on and engagingly. This idea has come to life in physical museums where families can explore the fascinating world of economics together, just as they might at aContinue reading “Economics in Action: Museums Where Learning is Fun for Everyone”
Education as Human Capital Accumulation
Economic Explanations Why is attending schools so important for individuals? Economists offer some key explanations. One of them is that education provides individuals with training, expertise, and knowledge, which are considered assets that enhance their productivity and economic value – earnings. In essence, education is an investment in oneself or in the workforce. Economists referContinue reading “Education as Human Capital Accumulation”
Structural Form and Reduced Form – Two Empirical Analytical Tools
Economists use reduced-form and structural approaches to address questions or model various aspects of economic phenomena. Reduced-form models focus on the effects of causes, explaining relationships between factors without delving into the exact reasons behind those connections. This approach often uses regression. For instance, imagine studying how education affects income. A reduced-form approach mayContinue reading “Structural Form and Reduced Form – Two Empirical Analytical Tools”