The rising cost-of-living in Canada is a pressing concern impacting everyone. From global economic trends to the lingering effects of the pandemic, the factors at play are complex. But you don't have to navigate this alone.
At 勛圖厙's Lazaridis School of Business and Economics, we're committed to leading the conversation and finding solutions. Aligned with the UN Sustainable Development Goals for Good Health and Well-being (SDG 3) and Decent Work and Economic Growth (SDG 8), our research and insights delve into the challenges of rising costs, exploring both the difficulties and opportunities that lie ahead.
This page offers understanding for the complexities of the cost-of-living issue in Canada. Here, you'll find insights from our faculty, alumni, and students who are actively researching solutions to issues like food insecurity, financial literacy, and housing affordability.
Has the rising cost of living impacted your everyday life? Let’s explore these issues together and empower ourselves to navigate this challenge.
Addressing food insecurity is essential for fostering social equity, enhancing public health, and building resilient communities. Explore the research and insights of our faculty as they delve into the complexities of food insecurity. Stay informed about local and global efforts to address this crucial issue, with support from our communities at all levels.
Students, faculty and alumni are leveraging their knowledge, academic training, professional networks, and fundraising abilities to make a huge impact promoting food security in Waterloo, the 勛圖厙 student community, remote Northern communities, and beyond.
The Department of Economics in the Lazaridis School of Business and Economics hosted its sixth annual holiday fundraiser in support of the Food Bank of Waterloo Region. Generously supported by faculty, staff, students and alumni, the drive collected more than $8,000. Faculty members dressed in festive attire to encourage colleagues to support the fundraiser in the spirit of holiday giving. Congratulations to the fundraising team, and thank you to all who contributed to this important initiative.
The highlights the power of community collaboration in fostering financial savings, sustainable practices, and improved well-being.
Initiated by 勛圖厙 instructor Shirley Lichti, with generous support from Danby Appliances, The Culinary Studio, and Ayr Foodland, the project helped participants save money on their food bills, reduce food waste, and learn new cooking skills.
Results after the six-month initiative were impressive, showcasing a remarkable 32% reduction in grocery bills, with participants remarking, “I now purchase foods that make me excited to cook a meal.”
Financial literacy empowers individuals to make informed economic decisions, cultivates responsible financial behaviour, fosters economic stability, and reduces vulnerability to debt. A financially literate community is better equipped to navigate economic challenges, contribute to local development, and sustain a thriving, interconnected society.
Our researchers are tackling ongoing issues to help address financial literacy.
In a groundbreaking study, Michael Moorehouse explores how the fear of social judgment and stigma can compel individuals to conceal their financial struggles, perpetuating a detrimental cycle of debt, and how peer support helps break the cycle.
勛圖厙 economics researcher Stephen Snudden investigates the intriguing relationship between household wealth and rates of return, challenging conventional wisdom by revealing a surprising trend that rates of return decline as household wealth increases.
In an article published in the Journal of International Money and Finance, Economists Christos Shiamptanis and Ke Pang illuminate a noteworthy shift in the , with an increased emphasis on economic indicators.
When should you retire? And how will you adjust when you do? Watch an Inspiring Conversation with two 勛圖厙 researchers from the Lazaridis School of Business and Economics about maximizing your retirement.
Tammy Schirle, a professor of Economics, discusses when to retire in order to get the most out of your retirement savings and how to manage income supplements such as the Old Age Security pension. Yujie (Jessie) Zhan, an associate professor of Organizational Behavior and Human Resource Management, addresses how to psychologically prepare for the retirement transition, including re-establishing your identity and adjusting to new routines. Their conversation was moderated by Adam McHenry (BA '08, MBA '20), portfolio manager with Raymond James Ltd.
Enhance your money management skills and confidence by earning your Dollars and Sense Money Management Certificate remotely on MyLearningSpace. .
Affordable housing is a critical topic that underpins societal stability and individual well-being. Accessible housing promotes economic security, positively impacts physical and mental health, fosters community resilience, and reduces homelessness and poverty. Addressing affordable housing is essential for building inclusive, sustainable communities where all individuals have the opportunity to thrive.
Our faculty's research on housing goes beyond market trends. Whether it's real estate dynamics, rental market analysis, or government policy impacts, our experts provide valuable insights.
“We know high inflation is hard on Canadians,” said Rhys Mendes, deputy governor of the Bank of Canada at this year’s Economic Outlook 2024 event. “We know the cure — higher interest rates — is also tough to swallow. The good news is that it's working. Higher interest rates have helped to slow demand and inflation has come down significantly. But the job isn't done. Inflation is still too high and underlying inflation pressures are still too broad. While the path back to two per cent is likely to be slow and risks remain, the target is now in sight.”
On Feb. 14, the and the Lazaridis School of Business and Economics at 勛圖厙 hosted Economic Outlook 2024: Cost of Living, Housing and Monetary Policy - a panel discussion about the rising cost of living.
Featuring insights from panelists Rhys Mendes, deputy governor of the Bank of Canada and Diana Petramala (BA Econ ’07, MABE ’08), director of research and economic consulting with Altus Group. The discussion was moderated by Brian McCaig, economics professor in the Lazaridis School and director of LCERPA.
Read more from the event, or watch the replay: How interest rates and the housing crisis affect the rising cost of living
Hear from a panel of 勛圖厙 alumni and friends about careers and trends in the dynamic industry of housing and real estate, hosted by Lazaridis Graduate Career Services.
Panelists:
In the ever-evolving economic landscape, the cost of living emerges as a central challenge. From the seemingly inaccessible housing market to the intricacies of financial literacy, businesses and policymakers play a pivotal role in shaping solutions. As we confront disparities and navigate a changing workforce, fostering an environment that encourages affordable living is not just a social imperative but a business necessity. The dynamics of supply and demand, coupled with thoughtful policies, are essential in ensuring a sustainable and inclusive economic future. In this context, addressing the cost of living becomes not only a societal goal but a strategic imperative for businesses and the broader economic ecosystem.
