History
The major industrialization campaign in China during the late 1950s and early 1960s led by Chairman Mao and the CCP to transition from an agrarian society to an industrialized society.
What is the Great Leap Forward?
This theorem states that under certain conditions, perfectly competitive markets lead to Pareto-efficient equilibriums.
What is the First Welfare Theorem (FWT)?
This famous central banker was credited with ending stagflation during the early 1980s.
Who is Paul Volcker?
The current range of the federal funds rate
What is 3.50-3.75%?
This is the primary mandate of the ECB.
What are stable prices?
This country is currently the largest debtor of the IMF and has received more IMF bailouts than almost every other country; it experienced a massive sovereign debt crisis from 2001 to 2002.
What is Argentina?
In a simple Solow growth model, long-run economic growth is primarily driven by this.
What is technology/technological progress?
This economist is the first one to have proposed the permanent income hypothesis.
Who is Milton Friedman?
This is the largest M&A deal in media history (+100 points if can give the valuation)
This former Vice President was legally designated 'Acting President' by the Venezuelan Supreme Court following the January 2026 extraction of her predecessor.
Who is Delcy Rodriguez?
This US government institution was established by the Dodd-Frank Act of 2010 with the important role of protecting consumers from fraudulent activity by financial institutions.
What is the Consumer Financial Protection Bureau (CFPB)?
This type of macroeconomic model uses aggregate macroeconomic data and combines utility optimization by agents with rational expectations with stochastic shocks to assess dynamics in equilibrium.
What is a Dynamic Stochastic General Equilibrium (DSGE) model?
This labor economist is most famous for writing (jointly with economist Alan Krueger) on how minimum wage increases do not lead to subsequent job reduction, using a diff-in-diff analysis on fast food restaurants in Pennsylvania and New Jersey as a case study.
Who is David Card?
Name of the operation that resulted in the capture of Nicolas Maduro
What is Operation Absolute Resolve?
As this nation’s property crisis deepened in 2025, a lack of liquidity caused a crash in its domestic art market, as collectors could no longer use real estate as collateral for high-end auctions.
What is China?
This famous US legislation in 1933 created the Federal Deposit Insurance Corporation and introduced deposit insurance for accountholders in banks.
What is the Glass-Steagall Act/US Banking Act?
The relation that gives the real interest rate as the difference between the nominal interest rate and expected inflation: real interest rate = nominal interest rate – expected inflation.
What is the Fisher equation?
This French economist pioneered the development of general equilibrium theory in economics and also has a famous "Law" named after him.
Who is Léon Walras?
According to ADP, this is the sector that experienced the most distress in November.
What is manufacturing?
This nation's economy stagnated throughout late 2025 as its industrial core struggled with high energy costs and a structural decline in its automotive sector.
What is Germany?
What is the Washington Consensus?
An economic tool used to punish activities that generate negative external effects in order to correct an inefficient market outcome.
What is a Pigouvian tax?
These two economists were most famous for revolutionizing macroeconomic modeling through their RBC framework as well as thoroughly exploring the implications of rules-based vs discretionary monetary policy.
Who are Finn Kydland and Edward Prescott?
This is the market favorite to become the next chair of the FOMC.
Who is Kevin Hassett?
This project aims to create the world's largest single market by connecting 54 nations and eliminating 90% of internal tariffs.
What is the African Continental Free Trade Area (ACFTA)?