The application to banks of public controls stricter than those on businesses in general, justified by concerns that bank failures may disrupt the economy more profoundly than other business failures.
An analysis of Base Erosion and Profit Shifting (BEPS), focusing on the multinational corporate strategies to minimize tax liabilities by shifting profits to low-tax jurisdictions.
A weighted average of prices or quantities, informed by the quantities or prices of the base period, fundamental in understanding price level changes over time.
The assertion that over time the size of the public sector will increase as a proportion of the economy, due to its relative labour intensity and inability to substitute capital for labor.
An approach to hypothesis testing that assesses which of two hypotheses, the null (H0) or the alternative (H1), is more likely to be correct, considering prior knowledge.
A policy that aims to benefit one country at the expense of others by mitigating economic issues internally, often worsening the issues for trading partners.
Understanding the behavioural theories of the firm that look into the objectives of individuals and groups within firms rather than rigid profit maximization assumptions.
A report on social security prepared by Sir William Beveridge during the Second World War, pivotal to the creation of the post-war welfare state in the UK.
Big Mac Index, a measure introduced by The Economist in 1986, compares exchange rates to the cost of a Big Mac in different countries, illustrating purchasing power parity theory.
An agenda of the Conservative-Liberal Democrat coalition government in the UK, launched in 2010, aimed at giving power to local governments and encouraging community involvement.
A fundamental equation in financial economics for valuing options, derived from a model of continuous trading and used to remove arbitrage opportunities.
The governing body of a company, responsible for appointing the company’s officers and making key strategic decisions. The board comprises executive and non-executive directors.