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  • To proceed to the next level you must first consult with IvyTies: can you survive?

To proceed to the next level you must first consult with IvyTies: can you survive?

    IvyTies
    By IvyTies
    To proceed to the next level you must first consult with IvyTies: can you survive?

    In the U.S., a college degree is seen as a sure means to avoid flipping burgers the rest of your life. But can burgers help you decide which college to go to? You can now use the Ivy Survival Metrics to figure out one of the biggest issues for international students: the cost of studying abroad.

    Ivy Survival Metrics allows you to compare the power of your budget at home with the country where you would like to study. By using The Economist’s lighthearted “Big Mac Price Index,” our system uses the standard price of a Big Mac burger to provide you with an indication of the costs of living across different countries—the ones where McDonalds sells burgers, that is.

    Don’t worry, though, as you don’t need to be an economics professor to understand how it works. The index was first designed to show how overvalued or undervalued a currency is, but we are using it to compare the cost of living in different countries because the price of a basket of goods and services, which is identical across national borders, is an effective way to measure the purchasing power of a country’s residents. In this case, the Big Mac is the “basket”

    To use Ivy Survival Metrics, select your home country. and you will see the price of a burger both in your home country and in the country of the college that you are interested in in your own currency, whatever it is euros, yuan, peso, dong or rupee.

    Using Thailand as an example, the current burger of a McDonalds Big Mac® is 99 baht in Thailand, while it is 154.95 baht in the U.S.—about a 50% increase. So a Thai student wishing to move to America can expect things to be about 50% more expensive. We will update this index every January and July as the world’s economies keep changing.

    While Burgernomics is a fun approach to currency exchange rates, we can assure you that it is still worth taking seriously. Since the index was introduced in 1986, it has appeared in many economic textbooks and has been used in numerous academic studies. The inventors even calculated a gourmet version for those who find Big Macs a little difficult to stomach.

    Bad puns aside, we want to see our members survive, so make sure you check out the new Ivy Survival Metrics feature on the right side of your screen. We always welcome feedback, so send us an email, or post something on our social media profiles, and we will be sure to get back to you.

    Thank you for your interest in Ivy Ties and we hope your burger is well-priced!