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Policonomics

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In this week's LP, we’ll start learning about exchange rate regimes, starting with the ones with highest monetary policy independence, and moving to less independent regimes.

http://www.policonomics.com/lp-exchange-rate-regimes/

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Exchange rates can be understood as the price of one currency in terms of another currency. However, just like for goods and services, we must take into account what determines that price, since governments can influence it, and even fix it. Exchange rate regimes (or systems) are the frame under ...
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Policonomics

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In this week's Learning Path we’ll take a look at a few economic models that explain, at least to some extent or in some given context, inflation and unemployment,

http://www.policonomics.com/lp-inflation-unemployment3/

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Inflation and unemployment can be very harmful to the economy, and so governments will always try to control them by implementing economic policies. However, knowing how a problem originates is always helpful when trying to fix it. This is the reason why economists have created an incredible ...
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In this week's Learning Path, we’ll learn about the Phillips curve and how expectations have made it evolve.
http://www.policonomics.com/lp-inflation-unemployment2/
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There is a relationship between inflation and unemployment that can be easily analysed. Governments around the world take this relationship very seriously, since there will always be a trade-off when implementing economic policies aiming either at reducing unemployment or keeping inflation at ...
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In this week's Learning Path, the first in our series on inflation and unemployment, we’ll learn about what these two concepts are, and how to tackle them.

http://www.policonomics.com/lp-inflation-unemployment1/

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Inflation and unemployment are probably, along with GDP, two of the most used economic indicators of how well a country is doing. Inflation measures increases in the price levels, which can hurt the economy in multiple ways when not under control. Unemployment measures the percentage of people ...
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In this week's Learning Path, we’ll learn to analyse an open economy from a purely economic point of view, looking at their net exports and their Balance of Payments.

http://www.policonomics.com/lp-open-economy/

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Nowadays, pretty much every country in the world is considered to be an open economy. This means that the country will trade with the rest of the world, these exchanges being measured in terms of net exports. When analysing open economies, it is important to understand a few things about the ...
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In this week's Learning Path we’ll learn about basic concepts needed in the study of macroeconomics, starting with the analysis of closed economies.

http://www.policonomics.com/lp-closed-economy/

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When we study macroeconomics, the easiest and first approach is to analyse closed economies. These are defined as countries that are self-sufficient and autartik, meaning they do not trade with other countries, and rely only on what they produce. There is a widely used analogy by Economics ...
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Policonomics

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New videos!

Today, we uploaded our first 3 videos on Game Theory. This series will have 9 videos, which will cover the basic games, and how to analyse them. From Nash equilibria, to the elimination of dominated strategies, get ready to learn about games!

Here's the first video in our series, on the Strategic form, and the use of game matrices:

https://www.youtube.com/watch?v=ulrj8Xmc7cw&list=PLr3ti8G3MCuqN5CeQA1nD8EfImE_-ds_A&index=1

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New video!

This video shows how to look for a subgame perfect equilibrium. We start by explaining what subgames are, then look for a Nash equilibrium, and finally look for the subgame equilibrium.

https://www.youtube.com/watch?v=8fCEfbx5ECE

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New video!

This video shows how mixed strategies work. By using mixed strategies, we will be able to understand how to solve the game known as battle of the sexes.

https://www.youtube.com/watch?v=xTQm2mNOVQY

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Policonomics

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New video!

This video explains how the battle of the sexes work. We explain how, by searching for a Nash equilibrium, we won't be able to solve the game.

https://www.youtube.com/watch?v=vOBBfmYIH3o

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Policonomics

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New video!

This video explains how dominant strategies work, and how to reach a Nash equilibrium. We start by analysing dominant strategies, then explain what the Nash equilibrium is. Finally, we show an example of elimination of dominated strategies.

https://www.youtube.com/watch?v=5Kkz0feflSE

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We just uploaded our fourth video to our series on Game Theory. It's about the Battle of the Bismarck Sea, we hope you find it interesting!

https://www.youtube.com/watch?v=2DDYtd5FDUk&list=PLr3ti8G3MCuqN5CeQA1nD8EfImE_-ds_A&index=4

If you like it, spread the word! Thanks for watching, The Policonomics Team
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Policonomics: economics made simple
Introduction
Policonomics is an online dictionary about economics and its relation with politics. We know there are many websites that may seem alike on the Internet, simple economics dictionaries. However, we believe that the way in which the information is shown, or the fact that Internet users want to avoid excessive or misleading information, is just as important as the information sought.

Because of these beliefs, we decided to create a user-friendly dictionary, where what you were looking for is presented in a simple, concise way. Someone should be able to get the information he or she seeks and nothing more. Our definitions are presented in a brief and reliable way, so you don’t have to look further to get what you need. Along with this information, you will find in the blink of an eye useful tools that will allow you to deepen the knowledge of what you were looking for, such as graphs, timelines, or related articles and Learning Paths. All this, without any irritating popups or any kind of advertising that may affect your navigation experience.

Policonomics was created for you to get the information you seek rapidly, as well as having the possibility to go further, but only if you consider it necessary. We want you to consider this an easy-going, user friendly and reliable dictionary. 

Learn, and enjoy.