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ProfSpeak | Business Ideas and Resources

Reflections on Contemporary Business Issues in the Digital Age

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take a virtual study abroad trip by reading about Germany
take a virtual study abroad trip by reading about Germany

May 16, 2022 by Anne Barthel

Bitten by the Travel Bug?

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game theory is often applied to studies of nuclear weapons

May 9, 2022 by Eric Hoffmann

The Best Offense is a Good Defense

Welcome

Economics

As a foundational social science that guides business decisions, economics studies how individuals and firms allocate scarce resources, how consumers and firms interact in the market place and the resulting economy as a whole.

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economics, game theory, Valentine's Day

The Economics of Love

When I saw that my next blog post was going to post on Valentine's Day, I asked myself the question: "What can economics tell us about love?" I know, I

February 14, 2022

budgeting, credit report, financial health, personal finance

Three Financial Health Tips For the New Year

Evaluating your personal finances on an annual basis is a great way to assess your financial health. We all have different values and goals that

January 31, 2022

How useful is the supply and demand model? Photo by Artem Beliaikin from Pexels

economics models, Nash equilibrium, perfect competition, supply and demand

The Supply and Demand Model is Wrong

We’ve all heard economists and analysts utter the expression, “It’s all simple supply and demand!” when trying to explain some market phenomenon. Maybe

January 3, 2022

Nobel Prize medal. The 2021 Prize in Economics was awarded for work to prove causal relationships in economics research.

causal relationships, economics, natural experiments, Nobel Prize, research methods

The Quest for Causality

The 2021 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded jointly to David Card “for his empirical contributions to

November 15, 2021

The Nash equilibrium is the most common way to define the solution of a non-cooperative game involving two or more players.

economics, game theory, Nash equilibrium, price

Nash Equilibrium: Seeing the Forest Through the Trees

Around the 1940s and 1950s, a defining moment in the development of economic thought was underway, led by academics such as Paul Samuelson and John

October 4, 2021

choosing the right data visualization tools is important

data analysis, data visualization, graphs

Data Visualization Gone Wrong

Charts and graphs are a great way to bring data to life and they can help the reader understand what the data is telling us. However, choosing the wrong

September 16, 2021

View of the airplane wing. It is no secret that airlines sell tickets for the same flight at different prices. This is a pricing strategy called price discrimination.

airlines, price discrimination, pricing

Same Product, Different Price?

When booking a flight for the first time recently in what felt like years, I couldn't help but notice how quickly ticket prices were changing. This led

August 5, 2021

Demand for electric automobiles is growing

auto industry, consumer, electric vehicles, EVs, gasoline

A New Line of Business: From Gas to Electric

This past spring, I was in the market to buy new lawn equipment. I did what most consumers do, and I researched online and found several stores were

July 29, 2021

economics, happiness, Money, utility, wealth

Money and the Pursuit of Happiness

Economists love to talk about money. Everywhere you look, you see economists in news columns or on television chiming in. They offer projections about

July 12, 2021

The Successes and Failures of Homo Economicus

After a long day of work, you decide to stop off at your favorite pub for a peaceful respite, only to find a tremendous pool tournament just getting

May 31, 2021

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Categories

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Latest Posts

  • Bitten by the Travel Bug?
  • The Best Offense is a Good Defense
  • Financial Literacy For One Month—And a Lifetime
  • The Use of Chatbots Within Organizations

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