The lari depreciation caused a significant decrease in sale and rental prices in dollar terms. Rental prices slightly increased in August and September before the start of the new academic year. The commercial market turned out to be more resistent to the effects of currency depreciation.

ISET welcomes Professor Stephan von Cramon-Taubadel as a Visiting Professor at ISET until September 18th. Prof. Cramon-Taubadel is teaching Agricultural Economics I, an elective 3-credit course for second-year students.

There is a distant rumble in the regional economy – one with a particularly Persian flair. Iranian commerce and exports are about to enter an unrestricted world market as part of the deal negotiated between Western partners and Iranian leadership over its nuclear enrichment program. If Iran can meet the terms of the agreement, sanctions on its exports and imports will be lifted within the next year.

In August 2015, the average cost of cooking one standard Imeretian Khachapuri reached 3.49GEL, which is 11.4% higher month-on-month (compared to July 2015), and 7% higher year-on-year (compared to August 2014). Two factors combined in August to push the Khachapuri index upwards. On the one hand, the Index is up due to a seasonal decline in the supply of cheese – the main (and most expensive) khachapuri ingredient.

There are standard economics courses and then there are those taught by Daniel Levy. Professor Levy is a dynamic and engaging teacher who turns the dismal science on its head (while standing on a chair) and transforms the study of economics into a true adventure. This teaching talent was on full display last in early September as Professor Levy lead ISET students through a "Competitive Bazaar Simulation”.