An immersive summer course designed to introduce adult students to the fundamental principles of Economics, and how they apply to and impact our everyday lives.
A one-week programme, designed and taught by economics experts and residential in a college of the University of Oxford.Apply Now
This course will introduce students to a broad range of topics in both micro- and macro-economics.
Micro-economics focuses on firms, individuals and the interaction with government policies, whilst macro-economics takes a ‘big-picture’ view of an economy and examines the relationships between households, companies and governments and different types of markets such as the financial and labour markets.
Whilst this course is an introduction, it aims to rigorously instill a strong ‘economist mind-set’ in students. It will do this through the application of the most widely used and influential micro- and macro-economic models, placing these highly influential theories into the context of debates taking place today with a view to critically assessing their continuing relevance and adaptability in explaining economic behaviour in highly uncertain environments.
It will reassess the basic economic problems of choice, opportunity cost and resource allocation in the current global environment and use the core models at the heart of the micro-economic ‘canon’, such as supply and demand and elasticity, to analyse new, emerging and potential future trends in consumer, business and factor markets (such as the labour market). There will be a wide range of country and industry analyses provided in order to determine the extent to which these countries have the best fitting economic models and are utilising scarce resources as efficiently as possible. The course will round off with a discussion on the prospects and opportunities for economic growth in future years and critically assess the validity of existing growth models to meet the challenges identified on the course.
By the end of the course students will:
|Monday||Lecture 1: Studying Economics – the central economic problems of scarcity, choice and opportunity cost in the production and consumption of goods and services.
Microeconomic and macroeconomic issues – contemporary global challenges for individuals, firms, governments and policy makers.
|Seminar 1: The basic economic problem and resource allocation in the 21st century- contemporary challenges at both micro- and macro-economic levels|
|Tuesday||Lecture 2: Supply and Demand – the changing nature of buyer and supplier behaviour|
|Seminar 2: Elasticity of supply and demand in a fast changing world- practical exercisess|
|Wednesday||Lecture 3: Government and the economy at both micro- and macro-level levels. Market failure and government intervention|
|Seminar 3: Investigating the key economic indicators and policies, identifying trends and drawing conclusions through case analysis|
|Thursday||Lecture 4: Introducing Macroeconomics – aggregate supply and demand and the key macroeconomic challenges of economic growth, unemployment, inflation and the balance of payments in uncertain and unstable times|
|Seminar 4: Comparative global economic case study analysis – aggregate supply and demand|
|Friday||Lecture 5: Economic growth and sustainability in challenging times|
|Seminar 5: Presentations, course review and action planning|
1 x Written Assignment (500-750 words)
1 x Group Presentation
An intensive summer programme designed to introduce students aged 19+ to the principles of Macroeconomics.
An intensive summer programme designed to introduce students aged 19+ to the principles of Microeconomics.