EconomicsWithAneesh

What will Reeve's be doing on Wednesday? I think a logical way of approaching this would be to understand what the current state of the economy looks like and the opportunities and threats that Reeves faces. So what better way is there to judge than by doing a swot analysis of the UK economy? It'll be some nice interview prep too lol. I'll probably start off with some key indicators such as her black hole deficit and potentially may move onto some niche areas. THIS IS UNFINISHED IM SORRY- It took way longer than expected to write this, currently spent like 3 hours. Strengths: Nov 2025 PMI at 50.2 suggests slight expansion. OBR fiscal projections unexpectedly improved in recent weeks, reducing the expected scale of tax rises from £30-40bn → about £20bn . Households still hold unusually high savings from the COVID period, which can support consumption if confidence stabilises. Ik Mr Lay wouldnt really think this matters but despite volatility, the FTSE remains historically hi...

  The 2025 Nobel prize for econonmics has been awarded to three indaviduals, Philippe Aghion, Peter Howitt and Joel Mokyr, who have, over decades, attempted to explain humanity's unprecedented progress over the past two centuries. There work not only is incredibly relevant to the current AI technological replacement of labour but extremely relevant to the Y13 micro course, especially with some of the content that we are covering in class at the moment. What enabled technological to compound on itself so rapidly? Pre-industrial period, there was alot of knowledge on HOW things work, how to produce steel and other products, but not WHY. This was more of a trial and error approach, and hence why investment in technologies was quite low. Advancements were made in terms of the "HOW?" Innovation and the impact on economic growth? Economic policy such as the through patents improved growth as innovators are somewhat protected In the past, creative destruction may not have been s...

  As someone who wants to be an Economist, the insight day as Frontier was the one of the closest things I've done thats similar to what I hope to be doing in a few years time. This was a really well organized insight day programme where we learned about the structure of an economics consultancy firm and even learned some really interesting theory from Y2 micro that we havnt covered in class yet and small bits of Y1 uni content such as differences in differences curves, and a quick look at cost-benefit analysis. It was really encouraging to see that there were also so many people working at the firm that were very passionate about economics and I really felt like I had found my people.  Quick summary of what we did: Introduction to Frontier and an overview of the different teams and projects they work on.  Workshops on real-world economic problems where we worked in small groups to analyse data and make recommendations.  Case study session that involved applying econ...

 (Unfinished- will try getting it done by next week but here are the notes I took:) What’s in a u? Expected utility theory is a foundational model in economics for how people make decisions under uncertainty (when outcomes are risky). classical view risk aversion comes from a place of finishing marginal utility. 1 million sure for sure is better than a 50/50 for 2 million or 0. The utility to buy what we have with the million is better than what we can with the second million decision theorist Yaari- horses of different colours. How to measure risks treat utility as a yardstick and compare such that it can be traded with money/commodity. marginal rate of substitution curvature or u star cara transformation why do billionaires buy insurrance? time random lottery, you don’t know when you are going to be paid   relating economics and psychology:   economics use choice based basis on nearing risk, through mainly the economics domain. Pysocholhy uses surveys through different ...

Anti Trust in America. FTC lawsuit against Amazon for abusing monopoly power. Huge thing for antitrust law. After US civil war, private companies were becoming huge. Large companies called trusts where a couple of small companies combined together: wine trust, barb wire trust, sugar trust...etc Standard oil (around the 1900s)-  John Dean Rockefeller, one of the richest people on the planet. Many court copies of the cases were gone, Rockefeller had huge power. Something dark to his story: a small group of railroads got together with oil refiners, essentially colluding. He conquered industry by using the railroad power. Standard oil had unfair competitive power. 24/38 refineries were bought just by Rockefeller. He owned so much of the industry, he could just set prices. Rosavel saw this and files a lawsuit. Restraint of trade, sheer size of standard oil made it great but needed to be split up. They broke up but these companies were broken up but still co-operating with eachother...

  Prosperity through growth: A brilliant talk. Absolutely amazing. Having never really seen much of a pro-free market perspective of macroeconomics at school, this was a refreshing lovely new perspective. Undoubtly Dr Laffer is an amazing speaker, but there were also moments that I simply also didnt agree with. For instance, his view that central banks should not be operationally independent didnt really make sense. IMO central banks should be operationally independent so that they can make MP decisions based on economic conditions rather than political pressures. Independence then helps maintain price stability, credibility, and long-term economic stability...  His ideas about how amazing trump really is were also prone to scepticism. Often saying his policy's are prone to data and "numbers" which didnt really coincide with what I thought about his tariff calculation a couple months ago. However, nonetheless it was a really good talk and below are my notes. Primary focus...