Author: Liam

Categories
Resources

Apps

Recently, our team reviewed several apps recommended for students interested in economics and politics. Below are summaries of the ones we enjoyed the most. Make sure to check them out and tell us in the comments what you think of them!

fxTrade

Initially the app was made for investors but for our purpose it contains a demo mode which is a great way to practice trading in real time! It challenges your knowledge and unexperienced people might have to do some research in order to crack the code. After a while it can become addicting as your balance is in constant fluctuation and your aim is to always stay in the positive side, getting more money!

Oanda Currency Converter

The main purpose of this App is to establish a general idea of converting currency. The application of this tool is limited but it is a great and simple way to understand and compare the value of the worlds fluctuating currencies. Ontop of that, it offers the option to add percentage rates which are actually offered by banks and credit companies.

Yahoo Finance

Anyone who is interested in the world of business knows that Yahoo is a leading resource. This app combines real-time information on the stock market with financial news. You can even track specific stocks which you are interested in! It might be overwhelming as this application is geared towards investors but it is a great way to gain insight.

Khan Academy

An useful app for learning Microeconomics and Macroeconomics as well as Statistics and History, which are relevant for your future Economics or International Relations studies! Moreover, you can prepare for SATs and APs which will help your application to the American University (read more about it on our University section page). The app provides you with lectures(videos and documents), quizzes and practice tests. Khan Academy also allows you to track you development and schedule personalised practices! Personally, it is my favourite and the most enjoyable way to study!

P.S. You can study for different subjects and educational systems, however, the programs in the App are mostly relevant for American education and prepare you for the exams in the US

Categories
News

The US Election Of 2020

After a nail-biting election, Joe Biden has been named President-Elect. Today, his lead continued to increase in the state of Pennsylvania, giving him 20 additional electoral points and making him surpass the needed 270. President Trump has called for re-counts which have little to no merit as Biden carries states with margins of thousands that won’t be affected by a recount. Pennsylvania is vital in re-establishing the Blue Wall which the Democrats lost in 2016. All trends continue to show a clear Biden lead in the states of Arizona, Nevada, Georgia and Pennsylvania. If Biden manages to win all those states, he will have the same electoral number as Trump did when he beat Hillary Clinton in the 2016 elections. Major news outlets such as CNN and the BBC have called Biden the new incoming president. This election marks a key turning point in history as Kamala Harris will be the first female and first colored Vice-President, while Joe Biden will be the oldest President of the USA. Traditionally, the sitting President calls the newly elected one, but as of today Trump has not called Biden. The Biden-Harris team will have its first public speech at 8 PM EST on the 8th of November. The following months will be crucial for them as they have the task of somehow uniting a split America. Biden might have won the popular vote by approximately four million, yet around 70 million Americans still voted for Trump. After the winning announcement, celebrations of joy erupted throughout America. However, these celebrations are being overshadowed by the coronavirus outbreak; America had its highest increase in the number of cases reported in 24 hours (132,797) on the 6th of November. As the election draws to a close, it will be interesting to see how the world reacts, specifically looking at the markets.

To read more about the election press the following links:

NBC News

CNN

BBC

Categories
Analysis News

The 2020 Nobel Prize in Economics

On the 12th of October, american economists Paul Milgrom and Robert Wilson were awarded the 2020 Nobel Prize in economics. The two professors are based at the University of Stanford and were recognized for their work in auction theory. This new theory describes new formats for auctioning many interrelated objects on behalf of a seller motivated by doing good for society rather than simply achieving the highest price possible. These formats were used in 1994, when US authorities wanted to fairly privatize radio broadcasting stations throughout the country. The new development is all about avoiding the ‘winner’s curse’, this phenomenon has the tendency for the winning bid of an auction to exceed the true worth of the item.

For more information, follow these links:

Nobel Prize Webpage

https://www.nobelprize.org/prizes/economic-sciences/2020/summary/
Categories
News

2020 Nobel Prize in Economics

On the 12th of October, American economists Paul Milgrom and Robert Wilson were awarded the 2020 Nobel Prize in economics. The two professors are based at the University of Stanford and were recognized for their work in auction theory. This new theory describes new formats for auctioning many interrelated objects on behalf of a seller motivated by doing good for society rather than simply achieving the highest price possible. These formats were used in 1994, when US authorities wanted to fairly privatize radio broadcasting stations throughout the country. The new development is all about avoiding the ‘winner’s curse’, this phenomenon has the tendency for the winning bid of an auction to exceed the true worth of the item.