Study Economics with our Oxford Summer School 2017 | Students aged 16-18

Also available for students aged 13-15.

Class Summary

This course has been designed to introduce students who have little or no familiarity with Economics to key economic theory and its relevant impacts on so many aspects of our daily lives. It addresses basic economic theory while also looking at the way in which it is applied, to help students understand current economic issues, from unemployment to the benefits and disadvantages of the Eurozone.

Over two weeks, students will look at a range of topics in microeconomics, macroeconomics and international economics. In microeconomics, students will look at the basic economic problem of scarcity and choice, supply and demand, different models of market structure, the occurrence of market failure (e.g. due to the absence of markets for public goods, problems of information, and externalities), and the incidence and effectiveness of government intervention. In macroeconomics, students will learn about about policy objectives, the AD-AS model, and the operation of an independent central bank.  Finally, in international economics, students will learn about about trade, protectionism and exchange rates. A great deal of ground is covered in these two weeks, spurring students to take their new-found economic curiosity further once they leave Oxford.

The course aims to address the central range of topics studied by university-level economics students, as well as allow students to better understand the world around them and to appreciate the kind of work that economists and policymakers do on a day-to-day basis. This makes it the ideal preparation for students who are contemplating studying Economics at university, or making a future career for themselves in future in a field related to Economics.

The course encourages lively discussion and the sharing of personal experiences among students; with such a wide range of nationalities in attendance on our Broadening Horizons programme, students will have the advantage of learning about their classmates’ understanding of different economic systems around the world. As Economics is partly a political discipline, students can expect to participate in debates on the approach governments and other organisations should take to various thorny economic problems. Students will produce a short essay on any one of a broad spectrum of topics studied in the first week, and a presentation in which they will have the chance to work collaboratively in small groups.

Expectations/Prerequisites

The course, for most students, will introduce entirely new theories and concepts that have not been studied before. There are, therefore, no subject prerequisites. Students should be familiar with the latest global Economic news and current affairs.

Suggested Reading

There is an optional and very short introductory reading, which can be found here.