The Oz-onomics Podcast

Is gift-giving inefficient?

Podcast created by: Samantha Calinski and Joshua Caban

Are you one of the many to receive a gift you were unsatisfied with? The concern with gift giving is the chance of preference mismatch. Thus, there is a possibility that the gift will not match the preferences of the recipient. So, is it better if we just give cold cash? In this podcast, we discover how gift giving could lead to inefficiency. Furthermore, suggestions to reverse this cycle are offered. Gift certificates, guilty pleasure gifts, and cold cash are solutions to the inefficiencies of gift giving. Also, the giver’s relationship to the recipient is researched to impact the gift value. Therefore, don’t give your significant other cash for their birthday. The closer the bond to the recipient, the greater the value for the gift. Overall, holiday spending can be effective if the buyer does research beforehand and learns the recipient's preferences.

Betting Markets vs. Polls

Podcast created by:  Patrick Thomann, Jordan McCombie, and Austin Davis 

In this episode, we explore why betting markets often outperform traditional polls in predicting election outcomes. Through historical analysis, real-world examples, and insights into how financial incentives drive better forecasting, we break down how platforms like Polymarket and PredictIt are reshaping political prediction. Tune in as we contrast the fading reliability of polls with the dynamic accuracy of election betting markets.

Value-Added Voyage

Podcast created by Meagan Munroe and Tyler Krompier.

This podcast episode, Value Added Voyage, explores the economic policy transformation of the Bahamas, focusing on the country's transition from a tariff and customs-based tax system to a Value Added Tax (VAT) model introduced in 2015. The episode talks about the historical context, policy rationale, and economic impacts of VAT implementation on government revenue, trade, and fiscal stability. Through comparative case studies and data analysis, the podcast examines the broader implications of VAT reform, including its effects on inflation, business compliance, informality, and public perception. Drawing on both macroeconomic data and personal reflections, the episode also discusses how these reforms may offer key lessons for other developing and developed economies evaluating tax reform strategies.

Why are Scandinavian Countries so Rich and Happy?

Podcast created by: Munkhdelger Myagmar and Drake Pierce

Our podcast dives into the economic and social roots of happiness in Scandinavian countries, exploring what makes nations like Denmark, Finland, Norway, and Sweden consistently rank at the top of global happiness charts. Using research from the World Happiness Reports, academic studies, and policy comparisons, we look at how factors like strong welfare systems, social trust, equitable education, environmental quality, and good governance contribute to national well-being. We also discuss economic paradoxes, like how GDP growth doesn't always mean greater life satisfaction, and examine whether these Scandinavian models can be adapted elsewhere. With data from Eastern Europe, the U.S., and Japan, we contrast different systems and ask: can other countries build societies where happiness is more than just a side effect of prosperity?

 

 

The Energy Shift: Building a Resilient Economy

Podcast created by: Meagan Munroe, Tyler Krompier

This podcast explores clean energy and economic resilience, challenging the common misconception that environmental sustainability comes at the cost of economic growth. Hosts Tyler and Meagan examine how renewable energy sources such as wind, solar, geothermal, and hydro-power offer both environmental and financial benefits. The episode discusses the economic challenges of transitioning from fossil fuels, including market failures and investment risks, and highlights the important role of government policy in shaping incentives. Featuring case studies from Uruguay and Iceland, this episode analyzes how countries with varying resources have successfully implemented renewable strategies to achieve energy independence, lower costs, and foster innovation. It also addresses regional disparities, structural challenges, and investor confidence, emphasizing that thoughtful, stable planning can create equitable and prosperous clean energy transitions.

Caught in the Crossfire

Podcast created by: Munkhdelger Myagmar and Drake Pierce

This podcast episode explores the underreported impact of the U.S.-China trade war on smaller ASEAN economies such as Vietnam, Myanmar, Indonesia, and others. While the global spotlight remained on the economic titans, ASEAN nations deeply integrated into global value chains navigated both challenges and opportunities stemming from trade diversion, foreign direct investment shifts, and political uncertainty. Drawing on research including computer simulations and bilateral trade studies, the episode highlights Vietnam's emergence as a manufacturing hub, the risks of overdependence on China, and the broader implications for regional policy. Through a comparative lens, the discussion underscores the need for strategic diversification, infrastructure development, and multilateral cooperation as ASEAN economies reshape their roles in a fragmented global trade environment.

The Underground Economy's Effect on Real Markets

Podcast created by: Austin Davis, Jordan McCombie, and Patrick Thomann

Austin, Patrick, and Jordan discuss the underground economy, emphasizing its vastness and complexity. They explain that it includes activities like unreported tips, off-the-books hires, and street vendors, collectively amounting to trillions of dollars globally. The underground economy can constitute up to 3% of GDP in some countries. During the COVID-19 pandemic, informal work expanded as a survival strategy. The hosts highlight the ethical dilemmas, tax implications, and unfair competition issues posed by the underground economy. They also discuss potential solutions, such as simplified licensing and tax forgiveness programs, and the challenges of eliminating it entirely.