EFA

Inflation is a potential problem for any economy. So one of the key goals of economic policy is to keep inflation low and stable. Britain's best-known measure of inflation is the Retail Prices Index (RPI).

Economics, as my pet parrot and brilliant economic advisor Maynard knows all too well, is all about supply and demand. And “aggregate demand” is the subject of the 46th item in our series, Economics for Amateurs (EFA).

Over the past year, the term exit strategy has entered the vocabulary of economics. But what exactly is such a strategy? This is the topic of the 45th item in our regular Economics for Amateurs (EFA) series.

Economics has quite a few ugly terms, but among the best (that is, worst) at the momement is the concept of "deleveraging". But what is this exactly? That is what we discuss in Economics for Amateurs, part 44.

Elasticity of demand is a key concept in economics. It is a measure of the responsiveness of demand for goods or services to other changes. Here we look at income elasticity of demand. Economics for Amateurs, part 43.

The terms "gross" and "net" are often used in economics to refer to key economic variables. But what exactly do these terms mean? This is the subject of the 42nd item in our Economics for Amateurs (EFA) series.

I've got something I have to confess. It's very embarassing, but I'm sure I'll feel better when I've told you. You see, the thing is...wait for it...I absolutely love percentages. Part 41 in our Economics for Amateurs (EFA) series.