Economics Humour

For students who are getting examination stress, here are some economics jokes to lighten up your day!

I’m a walking economy,” a man was overheard to say.
“My hairline’s in recession, my waist is a victim of inflation, and together they’re putting me in a deep depression.”

An economist is someone who gets rich explaining others why they are poor.

A woman hears from her doctor that she has only half a year to live. The doctor advises her to marry an economist and to live in South Dakota. The woman asks: will this cure my illness? Answer of the doctor: No, but the half year will seem pretty long.

Economics is the only field where there can be 2 Nobel Prize winners saying opposite things.

The First Law of Economics – Every economy tends to remain at full employment equilibrium unless acted upon by an economist

The Second Law of Economics – For every economist, there is an equal and opposite economist.

Fun Video on Market Failure – Externalities

Here is an interesting and funny video on Externalities in production:

Huck the Duck and Fin the Fish

To Bail or not To Bail – That is the Question

Bailouts often present a moral dilemma. If the bailout is not given, the collapse of the firm could have drastic consequences both locally and globally – the so-called “Too big to fail” syndrome. If the government chooses to bail out the firm, there is no guarantee that the firm will use the bailout funds prudently and be responsible enough not to commit the same error again. It might even promote more risky behaviours as firms think that they can always rely on the government to bail them out should they run into trouble.

The recent bailout given to Greece by the EU is yet another example. Will it lead to more responsible fiscal spending by the government and to what extent will the auterity measures materialise?