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Knowing When to Stop: The Law of Diminishing Returns

As we approach finals, the law of diminishing returns seems to be an apt topic relating to productivity. You’ve perhaps heard the phrase, “Work smarter, not harder.” It might seem like a nice aspirational goal, but how much truth is in a tagline on an office poster?  The law of diminishing returns is a fundamental concept of economics, usually applied...

Economics Cost of WWI in Britain

In the eternal debate over the United Kingdom’s role in the world, a chronology of Britain’s relative decline in global status is usually constructed over the last 70 years since the Second World War. For better or worse, the Lend-Lease Act, the Suez Crisis, and the entry into the European Economic Community are often used as examples of Britain’s...

Resume Builders

Three ways to use your winter well if you don't have an internship There are a myriad of reasons why you might not be planning on doing an internship, a work shadowing experience, or a similar professional scheme this winter break: lack of means to support yourself in a city for a month, familial obligations, or even just plain burnout...

Weekly Wrap-Up

The trade war between the US and China continues. The US criticised China’s “empire and aggression” in Asia. Nothing new here.  UK-exposed stocks, including RBS, tumbled, as Brexit uncertainty grows. The UK and EU agreed on a draft exit treaty, determining Britain’s departure from, and future relationship with the EU. Yet the draft has a long way to go before it...

Weekly Wrap-Up

The trade war between the US and China continues. The US criticised China’s “empire and aggression” in Asia. Nothing new here.  UK-exposed stocks, including RBS, tumbled, as Brexit uncertainty grows. The UK and EU agreed on a draft exit treaty, determining Britain’s departure from, and future relationship with the EU. Yet the draft has a long way to go before it...

Shark Tank Lingo: Demystifying Mr. Wonderful’s Creative Deals

“I’m Out. Take it behind the barn and shoot it”, says Kevin O’Leary, aka Mr. Wonderful. In its nine years running, Shark Tank has attracted followers not limited to aspiring entrepreneurs. The personality clashes between the sharks, their famous quotes, and the occasional pitches that make the audience grasp, all make Shark Tank a thrilling show to watch. With...

Tools for the Future: What the Careers Centre Can Offer You

As the weather begins to chill and the leaves start to change color, every St Andrews student recognises the change of season—internship season that is! Although many summer internship applications won’t be due until closer to spring, positions are beginning to open and it’s crucial to start early. For undergraduate students who might be entering a sector of the...

St Andrews Economists: An Interview with Dr. Paul Egan

Far along the Scores, deep within the charming walls of Castlecliffe, resides Dr. Paul Gerard Egan. Dr. Egan, an associate lecturer, joined the School of Economics and Finance in January 2015 after completing his PhD in economics at the University of Limerick in Ireland. In addition to giving lectures, Dr. Egan is an avid researcher. Just after completing his...

Climate Change and the Hard Questions Posed

The world is ending. But, policymakers are asking, how expensive will it be to prevent, or to cope with? Such are the hard economic questions posed by the latest bone-chilling report released by the International Panel on Climate Change (IPCC). Even at the brink of Armageddon, budgets must still be drafted, investments must be hedged, and inflation kept stable. To put...

2018 Nobel Prize in Economics Awarded to Yale Professor William Nordhaus and NYU Professor Paul Romer

On 8 October, the Royal Swedish Academy of Sciences named Yale’s professor William D. Nordhaus and NYU School of Business’ professor Paul M. Romer as this year’s winners of the 50th Sveriges Riksbank Prize in Economic Sciences, in Memory of Alfred Nobel. The official press release states that it was awarded to Prof Nordhaus "for integrating climate change into...