Curriculum The Economics of Gifts and Giving
The Economics of Gifts and Giving
Why gifts matter economically: what gifts are, reciprocity and the gift economy, the deadweight loss of gifting, cash versus gift cards, festival retail, weddings and dowry, taxes on gifts, corporate gifts and ethics, regifting and experiences, charity, and a recap.
- Why Economists Study Gifts Gift-giving moves huge amounts of money and reveals how norms, trust and social ties shape economic behaviour beyond simple buying and selling. 📄 Read-aloud
- Reciprocity and the Gift Economy Anthropologists like Marcel Mauss described gifts as creating obligations to give, receive and return, forming the basis of many societies' exchange systems. 📄 Read-aloud
- The Deadweight Loss of Christmas Economist Joel Waldfogel argued that in-kind gifts destroy value because recipients value them less than the giver paid. 📄 Read-aloud
- Cash Versus Gift Cards Versus Things Different forms of gifts have different costs, signals and uses, from envelopes of cash at weddings to vouchers and personalised items. 📄 Read-aloud
- Festival Season and the Retail Boom Diwali, Eid, Christmas and other festivals drive a large share of annual retail sales, with e-commerce and brands running major promotions. 📄 Read-aloud
- Weddings, Dowry and Gift Exchange Wedding gifts and transfers can support couples, but they can also turn into pressure and, in the case of dowry, a harmful and illegal practice. 📄 Read-aloud
- The Economics of Gifts and Giving: Checkpoint 1 Quick checkpoint - five questions on the economics of gifts and giving. 5 questions
- Taxes and Gifts: What the Law Says Gifts from relatives are generally tax-free, but gifts from non-relatives above a threshold are taxable, and gift deeds involve stamp duty. 📄 Read-aloud
- Corporate Gifts, Bribery and Ethics Gifts to clients and officials can build goodwill but can cross the line into bribery, so firms and governments set limits. 📄 Read-aloud
- Regifting, Sustainability and Experience Gifts Regifting, second-hand gifts and experiences are growing as people worry about waste and clutter. 📄 Read-aloud
- Giving to Charity: Altruism and Incentives People give to charity out of concern for others, warm glow and social pressure, and tax deductions encourage donations. 📄 Read-aloud
- Gifts and Giving: Recap A recap of the economics and social meaning of gifts. 📄 Read-aloud