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Tim

Life as Vice chairman of Asset | Economics

Dear reader,

This week it is my honor to be able to tell you guys a bit about what it means to be the Vice Chairman of Asset | Economics. But let me first introduce myself. My name is Tim van Doorn (22 years old) and I am currently finishing my BSc. Economics. I was born in the beautiful southern town of Roermond and have been doing committee work at Asset | Economics for 3 years before I became the Vice Chairman of Asset | Economics.

What is a Vice Chairman?

The title of Vice Chairman might seem a bit vague to you, because of that I think it is useful if I explain this a bit. First of all, everybody at Asset uses the name Vice instead of Vice Chairman. The main reason for this is because Vice Chairman sounds a bit too formal for the tasks and responsibilities that come with my function. Because of that I will only use the term Vice in this article!

The main responsibilities of a Vice entail the contact and wellbeing of our members. This goes for both active and passive members. I do about 2 or 3 conversations with the active members per year to make sure everyone feels at his/her place at our lovely study association. So if a member has any complaints about the board, their committee, their fellow members or something in their personal life they can share this with me and I will make sure we do something about it (100% confidentiality of course)!  You could say that I am the main contact person of our board for all members. Because of this, I try and maintain a good contact with all of the active members which is one of the main aspects of my function that I love.

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The economics of valentine’s day

The one day in the year, when couples have the right to be clingy and the singles are allowed to complain about being single. I’m talking about Valentine’s day of course. Besides the day being about celebrating the people you care about, it is also one of the days that make a lot of economic profit. In this article, I will tell you some more about that.

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‘Cracking the luxury code with Millennials’ (part I)

‘Nobody knows what luxury is anymore’ – Marc Bain

Gucci, Chanel, Louis Vuitton, Hermes, Rolex, Tiffany, Dior, Armani, Prada, and Balenciaga are at the top of the list of the most luxurious online brands, thanks to their high ranking in share of search interest, web traffic, social media audience and social media engagement (Luxe Digital). Yet, the classical definition of luxury goods has been reshaped by these brands in such a way that ‘the concept of luxury is getting blurry, making it less clear where it begins and ends.’ 

Goods for which demand increases more than proportionally as income rises, and are a contrast to “necessity goods”, where demand increases proportionally less than income do not fully represent the concept of luxury as it is currently harder to define, and designers and businesses are ready to capitalize on the ongoing transformation in the fashion industry.

Why are luxury goods in the fashion industry different now?

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The effects of Brexit

Two years ago, the majority in the UK voted for Brexit. The negotiations between the UK and the rest of Europe are still in full swing. These negotiations are about the terms on which the UK will leave Europe. In the time that they have been negotiating, a lot has happened in the economy of both the UK and the rest of Europe. In this article I will line up these consequences that have already taken their effect and will also discuss the consequences that are yet to happen.

Everything you need to know about Monetary Policy Decisions

Last Thursday, the ECB published yet another monetary policy decision. Given that the ECB and its monetary policy are one of the cornerstones of our economy, it’s surprising how little attention there is – both in the media as in class -for the monetary policy decision and the press conference in which the policy is announced – in fact, the only mentioning of the monetary policy of the ECB was in June this year, when the ECB announce to quit – in a considerable amount of time – the quantitative easing.

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Future of Fossil Fuels From Thin Air

Fighting  for the environment can be done in multiple ways. Reducing the cost or accessibility of renewables is one way – energy sell-back, subsidies, and new technologies. More recently, EU decided to tackle 10 biggest single-use plastics within their jurisdiction, hoping to “deliver tangible results [..] before the elections in May 2019”. Those methods concentrate on avoiding future build-up of pollution.

However there is another aspect that needs to be focused on: repairing the damages already caused. It’s uplifting hearing about another country running solely on renewables for X days in a row, or the fact that biggest ocean pollutants are being phased out of our lifestyles but reduction of the build-up is also important . New ocean cleaning initiatives, carbon sucking towers, reforestation are all methods to combat the pre-existing depreciation of our planet. In all of this, a peer reviewed article from Carbon Engineering from a week ago gave another promising opportunity in carbon elimination through Direct Air Capture (DAC)*.