Why I can Listen to Music on my Phone – The Invisible Hand of the Music Industry

Society has a tendency to overlook just how complicated the world we live in is. Just take something simple like being able to listen to a song on your phone. For this service to be available there needs to be an artist willing to make the music, a sound engineer willing to make equipment so... Continue Reading →

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Introduction to Econometrics – Music Econometrics

Econometrics is one of the most important tools in an economist’s arsenal. Econometric techniques allow economists to test hypotheses in economic theory in the real world and see if they are correct or not. Econometrics is the application of data analysis to economics, the word “Econ” refers to economics and “metrics” refers to quantitative measurement.... Continue Reading →

Stopping Prejudices in Music

U2 recently wrapped up their world tour in Dublin’s 3 arena. At a time like this surly Bono and the boys must find themselves reflecting upon their incredible careers to date. Not only are they by far the most successful band to ever come out of Ireland, but also one of the most successful bands... Continue Reading →

How the 2008 Financial Crisis Made Aloe Blacc Rich – Positive Externalities and the Financial Crisis

The 2008 financial crisis was one of the toughest economic shocks to the world economy in history. Unemployment, homelessness, and poverty became very prevalent problems in even the World's most developed countries. While the effects of the crisis were devastating for most people, there were some benefits which came out of the financial crisis. Now whether... Continue Reading →

Underrated Songs – A Look at Graphs

Economists are forever using graphs to try and illustrate concepts visually. The most famous example of this is probably the supply & demand graph, but graphs can be used to illustrate pretty much anything. This blog has posted many entries explaining various concepts in economics but hasn’t yet utilised a graph. Even though graphs aren’t... Continue Reading →

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