EC1P1      Half Unit
Economic Reasoning

This information is for the 2025/26 session.

Course Convenor

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In this course, we discuss fundamental economic concepts and apply them to current events. The goal is to learn to think like economists by using economic theory to produce compelling arguments and economic data to distinguish and quantify them. Some examples are the measurement of economic well-being and inequality, the impact of immigration, the strengths and weaknesses of market economies in allocating resources, how to rationally make sense of irrational behaviour, which policies can promote innovation, and the meaning of risk and role of financial markets. Students will learn how to characterize the relevant aspects (measurement), how to use economic analysis to shed light on any social phenomenon (models), how to use data to measure the causes of these phenomena (empirics) and how to estimate the impact of policies and choose between them (policy).  

20 hours of lectures and 10 hours of classes in the Autumn Term.

There are weekly assignments and feedback will be given on one.

There is no set textbook for this course. Students are expected to engage with supplementary reading that will be provided for each topic as the course unfolds.

Students can complement their study of the course material by consulting, among others, the following books (though this is not a requirement and students need not purchase any books).

• Economics for the Common Good, Jean Tirole.
• The Armchair Economist, Steven E. Landsburg.
• Poor Economics, Abhijit V. Banerjee and Esther Duflo.

Exam (85%), duration: 120 Minutes, reading time: 15 minutes in the January exam period

Continuous assessment (15%)

The continuous assessment consists of a project, presented as a short video or poster on an economics topic, and of weekly assignments.