EC4004, Economics for Business 2016

This is the module page for EC4004, Economics for Business, 2016


Module Outline

Book Review Guidelines

Problem Set 1

Problem Set 2

Economic Reasoning Assignment

Lecture Notes. Links go live a day or two before the lecture itself.

Lecture by lecture breakdown, following sections and sub-sections in Bowles, Foley and Halliday (BFH) and Carlin and Soskice (CS)

Week  1



Lecture 1. Introduction, expectations, prerequisites, assessment details, and policies, Review of Basic Micro & Macro concepts from 1st year.

Lecture 2. Society, Social coordination problems, the fisherman’s dilemma. (BFH, 1.1-1.4)

Week 2 Lecture 3. Society, Social coordination problems, Pareto comparisons and efficiency, social coordination failures (BFH, 1.5-1.7).

Lecture 4. People and Preferences. (BFH, 2.1-2.4). The Investor & Public Games

Week 3 Tutorials Begin.

Lecture 5. Constrained optimisation (BFH, 3.1-3.4) Feasible frontiers & indifference curves.

Lecture 6. Constrained optimisation (BFH, 3.5-3.8) Price and offer curves.

Week 4 Lecture 7. Property and Exchange (BFH, 5.1-5.2). Allocations, The Edgeworth Box.

Lecture 8. Property and Exchange (BFH, 5.3-5.5). Institutions and power.

Book Review Due Friday of Week 4 by 5pm on Turnitin

Week 5 Lecture 9:  Coordination failures (BFH, 6.2-6.7)

Lecture 10. Specialisation, exchange, market demand (BFH, 7.1-7.3)

Week 6 Lecture 11. Competition, rent-seeking, market demand (BFH, 9.1-9.2)

Lecture 12. Uncertainty and risk (BFH, 4.2-4.6)

Problem Set 1 Due Friday of Week 6 at 5pm on SULIS.

Week 7 Lecture 13. Jobs, Unemployment and Wages (11.1-11.5)

Lecture 14. Jobs, Unemployment and Wages (11.5-11.7) [Open Day: Lecture podcast] Open Days.

Week 8 Lecture 15. Macroeconomic modelling: demand side (CS, 1.2)

Lecture 16. Macroeconomic modelling: supply side (CS, 2.1 - 2.2)

Week 9 Lecture 17. The three equation model: set up (CS, 3.1-3.3) [Bank Holiday: Lecture podcast]

Lecture 18. The three equation model: usage (CS, 3.1-3.3)

Week 10 Lecture 19. Expectations, the Phillips Curve, the Lucas Critique (CS, 4.2-4.5)

Lecture 20. Money, Banking, the macroeconomy (CS, 5.2-5.5)

Problem Set 2 Due Friday of Week 10 at 5pm on SULIS.

Week 11 Lecture 21. The Financial Sector and Crisis (CS, 6.2-6.5)

Lecture 22. Growth, fluctuations, and innovation: Solow (8.2-8.4)

Week 12 Lecture 23. Endogenous and Schumpeterian Growth: (8.5-8.8)

Lecture 24. The Eurozone (12.3-12.5)

(Economic Reasoning Assignment due Friday week 12 at 5pm to Turnitin)