YEU l Youth Economists of Uzbekistan

📌🎓Free online courses in Economics by YEU Community! 1) Social and Economic Networks: Models and Analysis by Stanford University Course description: The course begins with some empirical background on social and economic networks, and an overview of concepts used to describe and measure networks. Next, we will cover a set of models of how networks form, including random network models as well as strategic formation models, and some hybrids. We will then discuss a series of models of how networks impact behavior, including contagion, diffusion, learning, and peer influences. 2) Microeconomics: When Markets Fail by the University of Pennsylvania Course description: Perfect markets achieve efficiency: maximizing total surplus generated. But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and to explore possible remedies including as antitrust policy, regulation, government intervention. Examples are taken from everyday life, from goods and services that we all purchase and use. We will apply the theory to current events and policy debates through weekly exercises. These will empower you to be an educated, critical thinker who can understand, analyze and evaluate market outcome 3) Understanding economic policymaking by IE Business School Course description: This is the first of the three courses part of the Globalization, Economic Growth and Stability Specialization. This course will employ a non-technical approach to analyze how governments use policy to influence a country's economy. Upon completing the course you should be able to discuss national debts and deficits, examine fiscal and monetary policy and their appropriateness to the situation of an economy, and anticipate the results of fiscal and monetary policies and structural reform on a country. These concepts will give you the tools to develop your own position in many current economic debates, such as fiscal stimulus vs. austerity, the merits of quantitative easing, the need for higher interest rates or the future growth path of many modern economies. For more opportunities 👉@yeu_community

📣📌Top Universities in Europe for Economics! 🎓 London School of Economics and Political Sciences (LSE), UK 🎓 University College London (UCL), UK 🎓 Bocconi University, Italy 🎓 Tilburg University, Netherlands 🎓 University of Zurich, Switzerland 🎓 Central European University (CEU), Austria 🎓 KU Leuven, Belgium 🎓 Aarhus University, Denmark 🎓 University of Cologne, Germany 🎓 Utrecht University, Netherlands For most of the international students applying for full ride scholarships, there is no safety school option in the US. European countries as Germany, Italy and others usually should be considered in case if a student is not able to pay some amount of their college fees in the US. Even though, in this list not all colleges have full financial support for international students, there are specific programs as Stipendium Hungaricum providing scholarships to afford your studies in these colleges. For more information, use the links we attached to each of these schools! For more opportunities 👉 @yeu_community

👋 Hi! Today we are going to learn about a part of economics named “International Economics” International Economics: Navigating the Global Marketplace In our rapidly evolving world, the interaction of nations, trade agreements, and economic diplomacy has become an intricate tapestry that demands our attention. Understanding the complexities and dynamics of international economic relations has never been more crucial. So let's embark on a journey of exploration into the captivating “world” of international economics. Embracing Globalization: Globalization has transformed the world into a tightly-knit economic ecosystem. Countries now find themselves interconnected through trade, investments, and capital flows. This interconnectedness offers remarkable advantages, fostering the potential for economic growth, innovation, and improved living standards. Yet, it also presents us with challenges to navigate, such as managing volatility, addressing economic imbalances, and striving for equality. Thus, finding the tenuous balance that allows sustainable progress is a profound task. International Trade: International trade involves the exchange of goods and services across borders, encompassing imports, exports, tariffs, quotas, trade agreements, and trade pattern determinants. David Ricardo's theory of comparative advantage highlights how countries can gain by specializing in goods with lower opportunity costs and engaging in trade with other nations. Exchange Rates: Exchange rates shape currency values, influenced by interest rates, inflation, capital flows, policies, and market expectations. They impact global trade, investments, and a country's competitiveness. These are just a few key aspects of international economics. The field is complex and dynamic, continually evolving with changes in the global economy and new challenges and opportunities arising from international economic interactions. Learning econ with @yeu_community

🔍📌Ideas for passion projects in Economics and Business related majors by YEU Community! 🔺 Crypto Case Study | In-Depth Market Research on Crypto-currency Businesses Cryptocurrency, or crypto for short, is a form of digital currency that uses cryptography for secure financial transactions and operates independently of a bank or government. Cryptocurrencies, like Bitcoin and Ethereum, are gaining popularity. With this independently organized project, you can gain a better understanding of finance focused crypto businesses from all around the world. Do your research and handpick a few companies to deeply study. Where did they go wrong? When and why did they thrive? What is their value proposition for customers? With crypto currently not doing so well and being associated with scandal, there’s opportunity for you to learn a lot throughout this process! 🔺 Analyze a Company or Compare Two Companies Learn the ins and outs of how a company functions! Pick either one or two companies of your choice to deeply analyze/compare! Learn to read and analyze a business by looking at a company’s 10-K (a document that outlines everything about a business) and seeing how they generate revenue and what costs they have. You can find a company’s 10-K usually by just googling the company’s name followed by “10-K.” You can also look through articles, the company’s websites, or even interviews with the leaders of the company to learn more about their product and company culture. If you’re comparing two companies, try to see if you can hypothesize why one company might be bigger / more successful than the other! For more opportunities 👉@yeu_community

📣Unveiling Behavioural Economics: The Intricacies of Decision-Making ❗️This field explores the hidden influences that shape our financial choices, going beyond the assumption of rationality in traditional economics. Instead, it acknowledges prejudices, emotions, and heuristics that impact decision-making. Cognitive Biases: Unconscious Mental Shortcuts We're prone to cognitive biases, like confirmation bias (seeking confirming information), loss aversion (fearing losses more than gains), and anchoring effect (relying on initial information). These biases affect our judgments and choices. Nudging Behaviour: Harnessing Behavioural Insights Behavioural economists employ "nudges" to gently influence behaviour. Default options, framing information differently, and leveraging social norms are examples. Nudges help individuals make better decisions without restricting choice. Behavioural Economics in Practice Behavioural economics finds applications in public policy, marketing, finance, and education. Governments use behavioural insights to design policies, marketers create effective campaigns, and finance professionals understand investor behaviour. Education benefits from optimizing learning environments using behavioural principles. Embracing Human Behaviour's Nuances Behavioural economics highlights the complexities of decision-making and our susceptibility to biases. By acknowledging these biases, we can design interventions that nudge individuals towards choices aligning with their long-term goals. Let's explore this captivating field, appreciating the dance between the human mind and economic forces, unlocking the secrets to more effective decision-making. Embrace the beauty of behavioral economics for a better future. learning econ with @yeu_community

👋 Today we are going to talk about some top schools to study economics, their ranking, acceptance rate, and financial aid they provide 📣Top Liberal Arts colleges for Economics 🎓Williams College 📌Ranking - #10 College for Economics Acceptance rate - 9% Need aware, but meets 100% demonstrated need of every student Website 🎓Swarthmore college: 📌Ranking - #11 College for Economics Acceptance rate - 6-7% Admitted students receive 100% financial aid for full tuition, fees, room, board (meal plan), academic supplies and personal expenses! Website 🎓Pomona College: 📌Ranking - #15 for Economics Acceptance rate - 6-7% Meets 100% demonstrated need of students! Website For more opportunities 👉 @yeu_community

📣📌Amazing opportunity by YEU Community! 🔺Jerome Fisher Program in Management & Technology Summer Institute (M&Tsi) – Penn Engineering and Wharton, University of Pennsylvania For ambitious high school seniors and a small group of incoming high school juniors enthusiastic about learning how to integrate management principles with technical concepts, M&Tsi is a challenging and exciting summer program. The other great thing about this program is that it offers a full Penn college-course credit for students who complete it successfully! Students attend courses and guest lectures by Wharton and Penn Engineering faculty members and other field experts. Then, they must create a prototype and go-to-market strategy for their high-tech firm, present it, and get feedback from Penn faculty members, seasoned entrepreneurs, and industry innovators. 📍Location: Residential, University of Pennsylvania campus ❗️Application deadline: February 1, 2023 (Priority) Please note: All International applicants and students seeking scholarship funding are strongly encouraged to apply by the Priority Deadline. April 1, 2023 (Final) Program dates: July 9 – July 29, 2023. Eligibility: High school seniors and rising high school juniors For more opportunities 👉 @yeu_community

Hi 👋 Have you missed our informative posts? Today we have got a new one for you. 👇 ❗️Those who are with the inclination to delve deep in economics theories to understand them better may encounter the one named as the “Game Theory”. While one might initially imagine this theory as being imbued with advanced mathematical formulas and intricate concepts, its complexity is exaggerated, and it can be in fact perceived with an ease, once intended so. Surprisingly, the so-called game theory is not foreign to us and it happens frequently in our simple daily lives, yet we fail to notice it. 📖 Theoretically, the Game Theory includes 3 components: Players, Strategies, and Playoffs (sometimes referred as outcomes). In a scientific interpretation, it is stated as the study of the ways in which interacting choices of economic agents produce outcomes with respect to the preferences (or utilities) of those agents, where the outcomes in question might have been intended by none of the agents. (Stanford Encyclopedia Mar 8, 2019). Yet, if we pronounce it in a much fun way, we can conclude on it being a simple game where the varying choices of the players may affect the final outcome. Now, imagine! You and your friend have committed a crime and now of you have been arrested. Before the court makes its final verdict, both of you are interrogated and asked to confess. So now the climax part chips in. You can either choose to confess or not. The same is true for your friend. Yet, the problem is that both of you are not aware of each other’s choice. Both of you are imprisoned for 10 years in a case when you both confess. If one of you confesses and the other does not, the one who confessed is set free, while the one who remained silent is imprisoned for 20 years. Lastly, remaining silent would lead both of you to be imprisoned for 5 years. In this case, you both employ assumptions about what your friend may choose and try to find the safest option of all. Regarding the safest option in the above-scenario, we wait the answers in the comments. Which one do you think is the safest ❓ learning econ with @yeu_community