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
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)
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
If these were too hard- going try: New ideas from dead economists Todd Buchholz
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)
Tim Harford The Logic of Life The Undercover Economist FT column
Robert H Frank Quirky questions with Economics in the answers
Diana Coyle Sex, Drugs and Economics Unconventional, but sound economics
Darrell Huff How to Lie with Statistics Sweep the truth under the carpet Recommended by chief examiner
Cento Veljanovski Economic Principles of Law Particularly interesting for economists applying for a law course…
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?
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…
Your preferences: You would pay £40 to see Amy – just! You would pay £50 to see BEP You choose Amy (as its a free ticket). What is the opportunity cost:
And the answer is: C £10. You forgo the consumer surplus of £10 that you would get at BEP
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 ……….
Does this mean: A You are all economic naturalists B You have jumped in too quickly into Economics and its time to start thinking like an Economist…