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From AS to A2 part 2

From AS to A2 part 2. Rachel Cole. Summer Reading. WIDER READING (1). Newspapers and journals: The Economist Sunday Times (David Smith) Times Sunday Telegraph (Liam Halligan) Independent on Sunday Independent esp. Monday & Thursday (Hamish McRae) Observer (William Keegan)

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From AS to A2 part 2

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  1. From AS to A2 part 2 Rachel Cole

  2. Summer Reading

  3. WIDER READING (1) Newspapers and journals: • The Economist • Sunday Times (David Smith) • Times • Sunday Telegraph (Liam Halligan) • Independent on Sunday • Independent esp. Monday & Thursday (Hamish McRae) • Observer (William Keegan) • Guardian esp. Monday (Larry Elliot) • The Financial Times

  4. WIDER READING (2) Books: Why not try: • Thinking Strategically: Dixit and Nalebuff (especially useful for Oxbridge games theory) • Key ideas in Economics R & D Dransfield (Nelson Thornes)

  5. And to stretch your mind • Adam Smith – Wealth of Nations • Karl Marx – the Communist Manifesto • David Ricardo – Principles of Political Economy • The Great Crash: JK Galbraith (Penguin) • Globalisation books (both sides): Joe Stiglitz, Martin Wolf

  6. If these were too hard-going try: • New ideas from dead economists Todd Buchholz

  7. WIDER READING (3) Newer books • Freakonomics: Steven Levitt & Stephen Dubner • The Truth about Markets: John Kay • Foundations of Corporate Success: John Kay (E & M applicants should read this) • The Dragon and the Elephant: David Smith (Profile Books)

  8. Tim Harford • The Logic of Life • The Undercover Economist • FT column

  9. Robert H Frank • Quirky questions with Economics in the answers

  10. Diana Coyle • Sex, Drugs and Economics • Unconventional, but sound economics

  11. Darrell Huff • How to Lie with Statistics • Sweep the truth under the carpet • Recommended by chief examiner

  12. Cento Veljanovski • Economic Principles of Law Particularly interesting for economists applying for a law course…

  13. WIDER READING (4) • Read articles/books critically …. • Is there an opportunity cost? • Which economic concepts can be applied? • What analysis is relevant? • What information is missing? • How do you rate the evaluation?

  14. Opportunity costs • There are two concerts on tonight in Bristol: • Amy Winehouse £40 • Black Eyed Peas £40 • You win a free ticket to see Amy…

  15. Your preferences: • You would pay £40 to see Amy – just! • You would pay £50 to see BEP • You choose Amy (as it’s a free ticket). What is the opportunity cost:

  16. Remember the concept of consumer surplus….

  17. A £50 • B £40 • C £10 • D £0

  18. And the answer is: • C £10. You forgo the consumer surplus of £10 that you would get at BEP

  19. How did we do? • 270 university students 7% correct • 199 professional economists 22% correct • Monkeys get 25% • You who have studied economics for just one year but have had a good think about it put ……….

  20. Does this mean: • A You are all economic naturalists • B You have jumped in too quickly into Economics and it’s time to start thinking like an Economist…

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