An introduction to macroeconomics and microeconomics

We will look at the functioning of markets and consider how equilibrium prices and quantities are determined in a variety of cases. We will consider when markets allocate resources efficiently and if they don’t what causes the market failure. Topics will include externalities, monopoly power, imperfect information, public goods and the tragedy of the commons. This then leads to questions of the role of government and we will consider the effectiveness of government policy in a variety of areas, such as health care, education, housing and food.

The Financial Crisis – we will look at the biggest financial event in decades that affected countries, firms and consumers across the world. We will discuss the background to the financial crisis and gain an understanding of the factors that created such a volatile banking system. By looking at some key markets, such as housing, construction, stocks and shares, we will analyse the impact of the financial crisis on the wider economy, consumers, investors and firms. We will bring in some key macroeconomic variables, such as interest rates and discuss government policy in countries around the world, thinking about their effectiveness in try to stabilise a vulnerable global economy.

An introduction to game theory

One of the biggest areas in economics is that of game theory and it is an area that can be applied to countless situations. Game theory is all about strategy and strategic thinking. Every day we have decisions to make and engage in economic interactions that involve some kind of trade. Understanding game theory can help consumers, firms, governments and society to make effective decisions. We’ll consider key concepts such as the Prisoner’s Dilemma and the Nash Equilibrium using applications to a variety of areas.

An introduction to behavioural economics

Behavioural economics is one of the fastest growing branches of the discipline. We analyse how behavioural economics begins to move away from traditional theories and models, by relaxing some of our traditional assumptions. By doing this, behavioural economics looks to explain how agents actually behave in practice and what factors can sometimes explain seemingly irrational behaviour. The course will expose students to several major topics in behavioural economics and will look to link theory with empirical applications. We will analyse the role of behavioural economics in the context of both consumer and firm behaviour.

An introduction to environmental economics

In this session, we will discuss the harmful impacts of air pollution on health and human capital. We will put hands-on and analyse real world data on air pollution, specifically in the UK, to get a sense of how economists use their tools and knowledge to inform policy making.

Finance in the 21st Century (including cryptocurrencies)