What can the Big Mac tell us about our economy?2018-08-01
McDonald’s is celebrating Big Mac’s 50th anniversary by giving away MacCoins, which customers can use to buy a Big Mac in 50 countries. The idea of creating this burger currency, according to the company, originated from the “Big Mac Index,” which The Economist has used since 1986 to compare real currencies across the globe.
Because McDonald’s has more than 36,000 restaurants in more than 100 countries, the price of its top-selling burger, locally produced in more than 80 countries, has been used to indicate the purchasing power of a country’s economy.
What does burgernomics tell us about our economy?
Dr. Simon Medcalfe is a professor of economics and finance at Augusta University and is available to discuss:
• How the Big Mac Index is calculated
• What the latest Big Mac Index says about the U.S. dollar and the U.S. economy
• Why the Big Mac has been called the nearly perfect commodity for currency comparison
Medcalfe has published academic articles in the areas of sports and health economics and economic education as well as contributed to labor economics and entrepreneurial finance textbooks.
Contact us to schedule an interview with Dr. Medcalfe or learn more about his expertise.