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EconIR WEB’s most recent posts:

Russian Aggression in Georgia and Ukraine: Powerful and Worrying Parallels

Introduction Ever since Ukraine was attacked on 24 February, the Georgian people have expressed their full support for the besieged country through protests, volunteering, donations, etc. Ukrainian flags can be seen hung on every balcony, window and door in the downtown area, the suburbs, and so on. Every evening, thousands gather in the city center […]

Sanctions imposed on Russia: a big change to daily life

Introduction This year, on the 24th of February, the world witnessed the Russian invasion of Ukraine. After rising tensions, the Russian Government decided to start the ‘special military operation’ which has since claimed thousands of lives. As a result of this conflict, many countries were quick to impose strict economic sanctions on Russia, which have […]

Political Stability Continues to Rock Haiti

Background Information Haiti’s political climate has been nothing short of troubled essentially since its independence. A result of a weak economy brought on by 17th-century colonial tactics and compounded by numerous natural disasters, Haiti is home to one of the most corrupt and turbulent governments in the world. It is this climate that gave rise […]

Evaluating the effectiveness of a tax on a good with an inelastic demand

Introduction Price elasticity of demand (PED) refers to the responsiveness of quantity demanded to a change in price. A type of price elasticity of demand is inelastic PED. Inelastic PED displays a low responsiveness of quantity demanded to a change in price (Inelastic PED = % change in price / % change in quantity demanded). […]

Turkey’s Financial Setback

What happened? Istanbul: State data revealed that the annual inflation rate in Turkey has surged to a 20-year high of 48.7% despite months of assurances by President Recep Tayyip Erdogan that the soaring figures were just temporary and that his government could ease the pain on Turks weighed down by rising living costs. Turkish citizens […]

Bottleneck Recession in Germany: when will the situation improve?

Introduction It is no surprise that the COVID-19 pandemic has damaged many of the world’s biggest economies. Last year in Germany, however, economists started predicting something called a “bottleneck recession”. Many of the materials that German firms need for production of goods are in short supply, hence harming the supply chain of the economy. But […]

Novak Djokovic’s Australian Open Controversy

Who is he? Novak Djokovic is a Serbian professional tennis player. He is currently ranked as world No. 1 by the Association of Tennis Professionals. He has won 20 grand slams till now. What is the Story Behind him Being Deported? Let’s have a look at this timeline to understand how the events unfolded. November […]

Georgia’s Ambitions for a Regional Transit Hub

Introduction Since the dawn of time, Georgia has remained at the crossroads of Europe and Asia. It lies in the Caucasus and is the only country in the region that has access to the sea. The government of Georgia has realized the full potential of turning Georgia into a transit powerhouse.  Over the past few […]