On November 9, Daniel Levy, a professor of economics at Bar Ilan University, Emory University and a member of ISET’s International Faculty Committee, presented his paper ‘‘The real thing’: nominal price rigidity of the nickel Coke, 1886-1959“ (co-authored by his colleague Andrew Young) to ISET professors, students and researchers.

Prof. Levy’s interesting topic and entertaining presentation kept the audience of the conference hall totally engaged throughout the seminar.

We have all noticed that prices usually change; that's fundamental to how economies work. And yet in 1886, a bottle of Coke cost a nickel. It was also a nickel in 1900, 1915 and 1930. In fact, 70 years after the first Coke was sold, you could still buy a bottle for a nickel. Three wars, the Great Depression, hundreds of competitors — none of it made any difference for the price of Coke. Why not?

ISET has earned a reputation of academic excellence, and all those who walked through the institute’s doors as students and left as graduates have either found meaningful employment or gone on to study abroad at some of the world’s best universities. Yet aside from educating its students in the technicalities and intricacies of economics, ISET also endeavors to instill values and standards amongst its students.

Ecological issues are frequently raised in public discussion in Georgia, not least because the air quality of Tbilisi is a current topic of contention and the city’s green zones are perceived to be at risk from construction projects. Most poignant of all, the country’s famous Borjomi forest was ravaged by wildfires during the summer, and the region will not fully recover for many years.

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