How Economics Can Improve Your Daily Life Standard Chartered

Leo Migdal

-Dec 7, 2025, 10:53 PM

how economics can improve your daily life standard chartered

Economic principles can help you make better decisions. Here’s how. Manpreet Gill Chief Investment Officer of Africa, Middle East and Europe I was recently asked to run a session on the basic principles of economics for a group of university students. This got me thinking: why would such a group of diverse individuals – most of whom were not studying economics – be interested in economics? Their focus areas likely ranged from choosing between academic courses, dividing time between work and friends or taking their first step on their own career ladders.

How could economics help them? For someone like me who spends much of his day obsessing over how policy or growth or inflation data impacts investments in stocks, bonds or commodities, it is easy to find many reasons why... Important financial choices don't just happen in trading rooms — they unfold in our daily lives. Deciding how much risk to take in a portfolio, when to borrow, or how to balance career and lifestyle trade-offs, all draw from the same principles. Economics offers a clear framework for these decisions. By focusing on what we gain, what we give up, and how incentives shape outcomes, we can bring clarity to both financial strategy and everyday life.

In this Wealth Insights piece, Manpreet Gill, CIO, Africa, Middle East and Europe, shares how applying timeless economic principles can help us navigate uncertainty, allocate resources wisely, and make choices that stand the test... Learn how economics can sharpen your approach to wealth and life decisions. Explore our latest Wealth Insights by Manpreet Gill: https://lnkd.in/eJiPi5wg As global financial leaders gather in Washington, D.C. this week for the World Bank and IMF Annual Meetings, the need for reform has never been more urgent. This new Foreign Policy brief, as part of the Global Governance Reimagined series, takes a deep dive into how the international financial architecture, built decades ago, is failing to solve the world’s most pressing...

This brief analyzes how international financial institutions can be reformed to address today's pressing challenges—from climate change to rising debt—and better serve global development needs. This is a critical conversation for anyone in development, policy, and global economics. Read the full analysis and expert contributions here: https://lnkd.in/dcj9A3Kv #WBGmeetings #IMFmeetings International financial institutions were built to move money, but too often, they moved that wealth and its benefits in ways that denied prosperity for those who needed it most. In part three of the Foreign Policy Global Governance Reimagined series supported by Ford Foundation, field leaders speak to that truth, and to the need for change that is not cosmetic but structural. The brief calls for shifting IFI voting power toward the Global South, redesigning debt frameworks to serve as ladders rather than shackles, and advancing new capital models, fairer lending, and Southern-led banks that answer...

More at the brief: https://lnkd.in/etUy_Xww As global financial leaders gather in Washington, D.C. this week for the World Bank and IMF Annual Meetings, the need for reform has never been more urgent. This new Foreign Policy brief, as part of the Global Governance Reimagined series, takes a deep dive into how the international financial architecture, built decades ago, is failing to solve the world’s most pressing... This brief analyzes how international financial institutions can be reformed to address today's pressing challenges—from climate change to rising debt—and better serve global development needs. This is a critical conversation for anyone in development, policy, and global economics.

Read the full analysis and expert contributions here: https://lnkd.in/dcj9A3Kv #WBGmeetings #IMFmeetings The The World Bank Group and International Monetary Fund annual meeting is in full swing this week. For those who enjoy reading economic and policy papers, it can feel like being a child in a candy store 🧁 . However, skimming through various abstracts and press releases can lead to confusion due to mixed messages, vague insights, and cumbersome recommendations. For instance, googling "investment in emerging markets" can leave one feeling either overly optimistic or utterly depressed. Clearly the confusion is not solely the institutions' fault; rather, it reflects the unpredictable reality we face today.

Bundling markets like China, Argentina, and the Democratic Republic of the Congo only adds to the complexity. Here are my recommendations for investors, entrepreneurs, and policymakers navigating this landscape: 🤗 Embrace uncertainty, as it will be part of our global reality for the foreseeable future. 📎 Stick to the fundamentals: long-term trends such as population structure, productivity, and institutional capacity provide a clearer view of the future of emerging markets. 🧘♀️ Don't overlook positive scenarios; they are possible. To put things in perspective, I've asked Gemini to identify the key discussion topics based on the annual meetings' official agendas of 2025, 2024 (the last one before Trump's election), 2023, and 2015. While some changes are evident, key fundamental issues continue to take center stage.

What are your thoughts on the WBG/IMF annual meetings? I was recently asked to run a session on the basic principles of economics for a group of university students... This article explores how fundamental economic principles can significantly improve daily decision-making, from personal finance to career choices. It highlights key concepts like trade-offs, opportunity costs, and the benefits of specialization, drawing insights from Gregory Mankiw's Ten Principles of Economics. Read the complete article from The Standard Business Teachers in Homa Bay County are protesting their transfer by the Teachers Service Commission (TSC) to the Social Health Insurance Fund (SHIF) after the TSC ended its contract with Minet Kenya on December 1,...

This transition has left many teachers unable to access essential medical services, citing the new system’s restrictive nature with only one available hospital in their area. French President Emmanuel Macron concluded his three-day state visit to China, emphasizing the need for deepened cultural exchanges and mutual understanding between the two nations to foster cooperation and address global challenges. ) How economics can improve your daily life Economic principles can help you make better decisions. Here's how. By Manpreet Gill I was recently asked to run a session on the basic principles of economics for a group of university students. This got me thinking: why would such a group of...

read full story Answer for your question of the article will be displayed here ... I was recently asked to run a session on the basic principles of economics for a group of university students. .fade-out-overlay { position: absolute; top: -80px; left: 0; width: 100%; height: 60px; z-index: 1; background: linear-gradient(to bottom, rgba(255, 255, 255, 0), rgba(255, 255, 255, 1)); } .paywall-container { position: relative; max-width: 100%; margin: 0... Subscribe to our newsletter and stay updated on the latest developments and special offers! Pick your favourite topics below for a tailor made homepage just for you

While economics may seem detached from the practical realities of software development, data science, or network engineering, understanding its core principles offers significant advantages in navigating the complexities of the modern, technologically driven world. This article explores how the study of economics can directly impact your day-to-day life, providing a framework for improved decision-making, enhanced economic literacy, and a more nuanced understanding of macroeconomic forces. Improved Decision-Making in a Data-Driven World Economics provides a rigorous framework for analyzing information and making informed decisions, skills that are directly transferable to tech-related fields. The core concepts of optimization and resource allocation, central to economic theory, are crucial for efficient software development, infrastructure management, and strategic technology investments. Financial Planning & Investment: Economic models, particularly those concerning asset pricing and risk management, are essential for making informed investment decisions.

For instance, understanding the Efficient Market Hypothesis (EMH) can temper expectations regarding short-term gains and promote a more long-term, diversified investment strategy. Recognizing the influence of quantitative easing (QE) on asset inflation can inform decisions related to real estate or cryptocurrency investments. Career Choices and Skill Acquisition: The labor market can be analyzed using supply and demand principles. Understanding the demand for specific skill sets (e.g., cybersecurity specialists, machine learning engineers) and the supply of qualified candidates enables strategic career planning. Investing in training and education within high-demand fields offers a significantly higher return on investment. Economic forecasting models can also assist in predicting future job market trends.

I was recently asked to run a session on the basic principles of economics for a group of university students. This got me thinking: why would such a group of diverse individuals – most of whom were not studying economics – be interested in economics? Their focus areas likely ranged from choosing between academic courses, dividing time between work and friends or taking their first step on their own career ladders. How could economics help them? For someone like me who spends much of his day obsessing over how policy or growth or inflation data impacts investments in stocks, bonds or commodities, it is easy to find many reasons why... For most individuals not in the economics or finance domains, though, Economics professor Gregory Mankiw’s Ten principles of economics offers up ten very good reasons why economics matters.

Mankiw’s first principle acknowledges that we face trade-offs in most decisions we make. The university students, for example, must choose how to divide their time between studying and heading out with friends, or whether to start professional work after an undergraduate degree or pursue an advanced degree. In my own field, investors must choose whether to direct their savings in low risk but lower-yielding deposits or to potentially higher-return but higher-risk stocks. Have you ever stopped to contemplate how economic principles manifest in everyday life? It may seem like a stretch to link the complex theories of economics to daily decisions, but the connection is surprisingly relevant. Economics isn’t just about graphs, stock markets, or government budgets.

The basis of economic thinking is to understand how choices are made given limited resources. Every day, each person makes choices about how to allocate their time, money, and other resources. By applying economic thinking, individuals can improve decision-making, maximize benefits, and mitigate costs. This article delves into the fascinating ways that economic thinking applies to the myriad decisions faced on a daily basis. From budgeting household expenses to allocating time efficiently, economic concepts offer valuable insights and strategies. Understanding economic principles allows people to approach decisions systematically and rationally.

Rather than impulsive decisions driven by emotion or habit, economic thinking emphasizes critical evaluation of costs, benefits, trade-offs, and opportunity costs. These skills are not exclusive to economists or business professionals but are applicable and beneficial for everyone. Thus, this article aims to provide a comprehensive overview of how economic thinking can be harnessed to make wiser, more informed everyday life decisions. The objective is to take the seemingly abstract economic concepts and unravel them to reveal their practical, accessible application in various life scenarios. Opportunity cost is a cornerstone concept in economics that directly impacts daily decision-making. Every choice involves a trade-off.

When deciding to purchase a product, work late, or take a trip, individuals implicitly choose one option over the available alternatives. Understanding opportunity cost clarifies these choices. Opportunity cost involves the value of the next best alternative foregone when a decision is made. In personal finance, consider the decision to spend $50 on dinner out. The opportunity cost might be the grocery items that $50 could buy for home meals, or that $50 being invested or saved for future use. A lucrative job opportunity that requires relocation also presents an opportunity cost, such as leaving behind family or a familiar community.

How Economics Can Improve Your Daily Life Standard Chartered

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