1. Leeds University Business School Welcome to Leeds University Business School The Economics Programmes Kevin Reilly Economics

2. 2 Who Dr Kevin Reilly, Senior Lecturer in Economics Teaching: Economics for Management, Research Skills and Econometrics Research: Labour Supply, Gender Pay Gap, Determinates of Crime, Foreign Direct Investment etc.

3. 3 A Typical Economics Offer The typical offer for the Economics programmes is AAB. We require that you were awarded an A at GCSE Mathematics or took AS level Mathematics.  Why: Evidence tells us that students with this profile are successful.

4. 4 A Size Issue You Need to Think About University of Leeds has 35,000 students; the Business School has 1,500 undergraduate students and Economics admits 120 to 130 Single and Joint Honours students each year. This is the second largest university in the United Kingdom.  Cost: Large lectures and a potentially relatively anonymous experience.  Benefit: High quality faculty.

5. 5 Faculty MemberResearch/Teaching Interest Professor G. FontanaMonetary Economics Professor V. PerotinComparative Economics Professor M. Sawyer (retired)Macroeconomics Professor S. ShinEconometrics Dr. A. BrownEconomic Philosophy Dr. M. CarterBusiness Economics Dr. K. ChauduriEconomic Development Dr. D. CoffeyIndustrial Economics Dr. Q. OutramEconomic History Dr. K. ReillyLabour Economics Dr. D. SpencerEconomic Thought/Labour Economics Dr. J. TonerTransport Economics Dr. L. HuEconometrics Dr. A. SmithTransport Economics Dr. L. ZanchiEducation/Labour Economics

6. 6 Why Study Economics? A way of understanding the choices made by individuals, firms and other organizations. A way of understanding the unintended consequences of individual actions. An important component of public policy discourse. A large component of transferable skills: (A) Quantitative skills, (B) Analytical Skills and (C) Critical Reasoning. Employability

7. 7 Why Economics at Leeds University Business School? We offer a choice of Single Honours Economics degrees A reasonably flexible structure that can accommodate changes in the student’s interest. A relatively diverse perspective on economic problems. Successful graduation rates: –66 per cent achieve a 2.1 degree or higher; –95 percent achieve a 2.2 degree or higher. Harold Speight Prize: £5,000 to the graduating Economics student with the highest average mark. Good employment and further study record of recent graduates.

8. 8 Single Honours Degree Programmes in Economics 1.BSc Economics: Standard degree with widest range of options. 2.BSc Business Economics: Economics of the firm focus to the programme. 3.BSc Business & Financial Economics: Financial Economics focus to the programme. 4.BA Economics with Transport Studies: Economics and Transport focus to the programme.

9. 9 Joint Honours Degree Programmes in Economics 1.BA Economics and Management Studies and BA Economics and Geography: Standard Joint Honours degree that combine Economics with either Management or Geography. For these two degree programmes your home department will be the Business School. 2.BA Joint Honours Economics and Modern Languages {e.g. French, Chinese, etc.}; BA Joint Honours Economics and Arts/Social Science {e.g. Politics, History, etc. excluding Geography}; and BSc Joint Honours Economics and Science {e.g. Mathematics, Statistics, etc.}. For all these degree programmes your home department will not be the Business School

10. 10 Economics in a Business School The Benefit: We are able to call on the resources in other Departments within the School to offer an enriched Economics degree. Have modules that take a Business Economics perspective (e.g. Business Economics, Economics and Corporate Strategy, Transnational Corporation, etc.) The Cost: We tend to hire individuals who can interact with our Business School colleagues.

11. 11 Flexibility in Degree Structure Within the Economics Degree Programmes you can easily switch between the programmes between Year One and Two. The only constraint is performance (it must be average or better) and choice of options in Year One (Year One Tutor there to advise you).

12. 12 Non-Standard Economics Component We take seriously teaching you the standard economics paradigm but we have been praised by our External Evaluator for exposing students to non-standard ideas. For example: Post-Keynesian Economics, Endogenous Money, Marxist Economics, etc.

13. 13 Value Independent Research by Undergraduates Put a large stress on a final year dissertation that allows the student to research a topic they are interested in. You will be required to take modules in both the first and second year that prepare you to do independent economic research. Externals have praised the quality of these dissertations.

14. 14 Well Established Work Placement and Study Abroad Programmes Work Placement Programme: Students have had year long placements at Consultancy Firms KMPG, The Treasury, Work and Pensions, Bank of England, etc. Study Abroad Programme: Students can spend a year at a university in Europe, North America and Asia.

15. 15 Questions?

16. 16 Thank You for Listening Have a Good Day

17. Leeds University Business School Welcome to Leeds University Business School Introductory Economics Lecture Kevin Reilly Senior Lecturer in Economics

18. 18 Who Dr Kevin Reilly, Senior Lecturer in Economics Teaching: Economics for Management, Research Skills and Econometrics Research: Labour Supply, Gender Pay Gap, Determinates of Crime, Foreign Direct Investment etc.

19. 19 Definition of Economics Economics: The social science that studies the choices that individuals, businesses, governments and entire societies make as they cope with scarcity and the incentives that influence and reconcile those choices. Microeconomics: The study of choices that individuals and businesses make, the way those choices interact in markets and the influence of governments. Macroeconomics: The study of the performance of the national and global economies.

20. 20 Some Standard Popular Economic Questions  Is globalization a benefit or a problem?  Do the technological advances in the “new economy” bring benefits to all?  How has terrorism changed our economic lives?  Are we all (individuals, businesses and governments) borrowing too much and creating too much debt?  Are the world’s water resources being managed properly?

21. 21 The Economic Questions 1.How do choices end up determining what, how and for whom goods and services get produced?  What?  How?  For Whom? 2.When do choices made in the pursuit of self-interest also promotes the social interest?  Self-interest.  Social Interest.

22. 22 How Economists Analyze These Questions 1.Choices and Trade-offs 2.What, How and For Whom Trade-offs 3.Choices Bring Change 4.Opportunity Cost 5.Choosing at the Margin 6.Responding to Incentives 7.Human Nature, Incentives and Institutions

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24. 24 Questions?

25. 25 Thank You for Listening Have a Good Day