Tom SpencerTHE guesstimate question is a usual type of question that you can expect to be asked when interviewing for a position at a consulting firm. Here is one to test your mettle. The Hospital Bed Question The question is this: How many hospital beds are required in New York city to provide for all of its pregnant […]
IN THE WAKE of the global financial crisis, there has been a backlash against the mainstream school of economic thought, of which Greg Mankiw is a proponent. Mainstream economists did not predict the global financial crisis and notable commentators, including Steve Keen, single out the narrow minded and simplistic ideas put forward by mainstream economists as the […]
Economics is about decision making in situations of scarcity ECONOMICS is the study of how individuals, firms and government make decisions to manage scarce resources. What does this mean exactly? Professor Greg Mankiw teaches economics at Harvard University and is the author of a popular economics text book called Principles of Economics which is used at many Ivy League […]