opportunity cost - Economics Students Society of Australia

opportunity cost

A collection of 10 posts

The cost of Free

The cost of Free

With O-week in full swing be prepared to be constantly bombarded with goody bags, merchandise and free stuff in general. Many businesses are already leveraging the power of free as a marketing and sales tool. It is now common practice for new food outlets to offer free food to draw

Free Parking? No Such Thing

Free Parking? No Such Thing

Cost complaints about university parking systems typically stem from the misconception that university administrations exist to fulfil every need of students while little regard is given to the economic choices that the university must make. It is better to acknowledge that a university is primarily run as a business. In

What we can and should do about IS

foreign affairs

What we can and should do about IS

The savage murder of American journalist James Foley was, for many people, their introduction to the Islamic State (IS). For others who were already aware of this group, it was the killing that vastly ramped up the pressure on political leaders in the West to take action. In the following

Is learning a foreign language worth it?

Is learning a foreign language worth it?

The prime reason I learned German in high school was because it was compulsory. The second reason was the opportunity to break down the communication barrier with over 80 million people. It was only after I travelled to Germany after high school that I realised hundreds of millions of foreign

Why the AFL is killing Australian sport

Every Victorian knows who Lance ‘Buddy’ Franklin is, who Nathan Buckley is, and who James Hird is. Even non-supporters know these names, because AFL is so ingrained in Victorian culture and lifestyle that is almost impossible to avoid them. However if you ask an average Victorian who James Horwill is,

To gym, or not to gym

To gym, or not to gym

It is no startling revelation that people of the modern age are larger than their counterparts from only a few decades ago, and I’m not talking vertically. Cutely chubby, big-boned, and pleasantly plump – there is certainly no shortage of terms we use to describe the surge of our waist

behavioural economics

Should you read this?

Good choice! What caused you to click through though? Was it a conscious decision? Also, if you think it was an intentionally conceived action, how do you actually know? While you may not have spent several minutes comprehensively analysing the costs and benefits of reading this article in order to

What’s in a name?

What’s in a name?

Economists analyse the oft-quoted remark on the ironic significance of names in the famous soliloquy “What’s in a name … a rose by any other name would smell as sweet”. This is a poetic illustration of the argument that it is not the name of things that matter but rather

What Economics Can Teach Us About Batman

What Economics Can Teach Us About Batman

In The Batman Handbook, Scott Beatty sagely advises that to be as good a crime fighter as the world’s greatest detective, you need to ‘Learn everything you can in every discipline, no matter how obscure’. His list of essential subjects, however, does not include economics. This is a tragic

economic theory

Economics is for the People

By Collin Li When an economic debate descends into something along the lines of “the economy exists in order to benefit the people – not the other way around,” you should reply: But what is an economy other than many millions of people interacting daily? Let’s not understate the reach