Economics Transition Work 2020

It’s important that you begin to think like an Economist!

Here’s what that journey should look like:

Economics 1

To that end please take a look at some of the resources below that challenge you to think of the Economic impacts of various situations.

Here is a link with various activities and information for your transition:

Below is an article that suggests so far $7 trillion has been spent by governments on fiscal stimulus -
What do you think the impacts might be on taxation in the future? How will we pay for this? Taxes go up? Impacts on Aggregate Demand / Economic Growth? Will this lead to inflation? Unemployment?

Think like an economist - 6 things that are booming in the lockdown -

Economics Reading List

1. 23 Things They Don't Tell You About Capitalism (Ha-Joon Chang) – challenges conventional thinking
2. Age of Discovery: Navigating the Risks and Rewards of Our New Renaissance: (Ian Goldin & Chris Kutarna)
3. Alibaba: The House that Jack Ma Built (Duncan Clark) – The rise of the Chinese corporate giant
4. Almighty Dollar (Dharshini David) – follows the journey of a single $ to show how the global economy works
5. Capitalism Without Capital: The Rise of the Intangible Economy (Haskel and Westlake)
6. Capitalism: 50 Ideas You Really Need to Know (Jonathan Portes) – compact and excellent reference material
7. Choice Factory (Richard Shotton) – a story of 25 behavioural biases that influence what we buy
8. Doughnut Economics (Kate Raworth) – challenges much of orthodox thinking in the subject
9. Drunkard’s Walk (Leonard Mlodinow) – a brilliant history of Maths with lots of relevant applications
10. Economics for the Common Good (Jean Tirole) – applied micro from a recent Nobel prize winner
11. GDP: A Brief but Affectionate History (Professor Diane Coyle) – really good on the GDP / well-being debate
12. Grave New World: (Stephen King) – Former head of Econ at HSBC looks at the fracturing global economy
13. Great Economists: How Their Ideas Can Help Us Today (Linda Yueh) – perspectives on contemporary issues
14. Growth Delusion: The Wealth and Well-Being of Nations (David Pilling) – antidote to gospel of GDP
15. Inequality (Anthony Atkinson) – a superb book on one of the defining economic/political issues of the age
16. Inner Lives of Markets: How People Shape Them—And They Shape Us (Sharman and Fishman)
17. Limits of the Market: The Pendulum Between Government and the Market (Paul De Grauwe)
18. Misbehaving: The Making of Behavioural Economics (Richard Thaler) – a truly superb biography
19. Plundered Planet: How to Reconcile Prosperity with Nature: (Professor Paul Collier) – development classic
20. Poor Economics: Rethinking Ways to Fight Global Poverty (Banerjee & Duflo) – development economics
21. Positive Linking – Networks and Nudges (Paul Ormerod) – good introduction to network economics
22. Rise and Fall of Nations: Ten Rules of Change in the Post-Crisis World (Richir Sharma)
23. Risk Savvy - How to make good decisions (Gerd Gigerenzer) – the world of heuristics and risk management
24. Ten Great Economists (Philip Thornton) – biographical background, well worth a read
25. The Box - How the Shipping Container Made the World Smaller and the World Economy Bigger, (Levinson)
26. The Everything Store: Jeff Bezos and the Age of Amazon (Brad Stone) – a great business page turner
27. The Great Divide (Professor Joseph Stiglitz) – one of the classic critiques of globalisation
28. The Great Escape (Professor Angus Deaton) – a broad sweep of economic history and poverty reduction
29. The Undoing Project: (Michael Lewis) – Tracks the birth of behavioural economics, Kahneman and Tversky
30. Thinking Fast and Thinking Slow: (Professor Daniel Kahneman) – the classic Kahneman epic on psychology
31. Upstarts: How Uber and Airbnb are changing the world (Brad Stone) Follow up to his work on Amazon
32. What Money Can't Buy: The Moral Limits of Markets (Michael Sandel) – Pure PPE bliss