What’s the use of economics?
Earlier this year, the Bank of England and the Government Economic Service sponsored a conference to discuss the teaching of economics in the light of the recent crisis. In this article Diane Coyle describes plans to take this initiative forward.
News from the Economics Network
Economics Graduates’ Skills and Employability by Dr Inna Pomorina
Welfare compensation for unemployment in the Great Recession
New research by Mariña Fernandez Salgado (University of Essex); Francesco Figari (University of Insubria and ISER University of Essex); Holly Sutherland, Alberto Tumino (ISER University of Essex) analyses the extent to which tax-benefit systems provide an automatic stabilisation of income for those who became unemployed at the onset of the Great Recession.
The ‘1981 statement by 364 economists’ revisited
Thirty years ago, when cuts in public expenditure were once again at the centre of a controversial policy to reduce the level of public sector borrowing, 364 economists famously signed a letter of protest to The Times. Professor Robert Neild was one of its authors.
In (partial) defence of fiscal austerity
Recent issues of this Newsletter have included articles somewhat critical of current austerity policies. In this contribution John Fender, University of Birmingham, puts a partial defence.
RES Conference Report
The Society’s Annual Conference took place this year at the University of Cambridge from 26th-28th March. This report was compiled by Sam Fleming, Economics Editor of The Times.
Understanding Oil and Commodity Prices
The Money, Macro and Finance Research Group held a workshop, jointly organised with the Bank of England and the Centre for Applied Macroeconomic Analysis (ANU), at the Bank of England on 25 May 2012, entitled Understanding Oil and Commodity Prices. This report was compiled by Professor Simon Price.
HMRC/HMT/ESRC Joint Research Programme
Tax Policy and Operations in the Context of Economic and Societal Change
About 18 months ago the ESRC/HMRC/HMT jointly funded seven research projects on tax administration. Gareth Miles, reports on the results.
The Public Responsibilities of the Economist
The Tanner Lectures on Human Values are given at selected universities around the world. This year's lectures, 'On the Public Responsibilities of the Economist', were given at Brasenose College, Oxford, on May 18-19 by Diane Coyle. This is an edited version of the first of those lectures.
The Competitive Position of Dutch Schools of Economics
Since English universities began charging substantial fees to undergraduates, there has been considerable interest in the possibility of English students studying elsewhere in the EU. The Netherlands is one popular destination. In this article Professor Ivo Arnold, Vice Dean and Professor of Economic Education, Erasmus School of Economics, Rotterdam, explains the situation from a Dutch perspective.
Studying economics in the Netherlands - A student view
Paul Balenski, a UK postgraduate student of economics, shares his experience of living in Rotterdam and studying at Erasmus University.
Economics education after the crisis by Diane Coyle
In February, the Government Economic Service and the Bank of England hosted an event which explored economics teaching and learning in UK universities in the wake of the financial crisis. The following articles give two views on the conclusions reached by the discussion. The second also includes student views as reported in the Economics Network annual survey.
Australia doing it tough?! Structural change noise obscures cyclical story
Nigel Stapledon argues that the popular view of Australia’s recent current performance is distorted by a confusion over cyclical and structural changes.
Hyperbolic Disasters! From an address by Ray Rees,
In November 2011 the CESifo Prize Fellowship was awarded to Professor Sir Partha Dasgupta, a past-president of the Society at Spatenhaus, Munich. This is an edited version of the address given by Ray Rees to mark the occasion.
On the Side of the Angels? Economists, Protest and Positional Rents, by David Collard
At a time when rewards to top bankers and others are subject to popular protest, David Collard, at the University of Bath, argues that economists should be less keen to defend the status quo by showing more awareness of the role of economic rent in the setting of higher level rewards.
Pro Bono Economics - an update by Sue Holloway
In the 146th issue of the Newsletter, July 2009, we highlighted an initiative by Martin Brookes and Andrew Haldane to launch this service whereby professional economists could make their skills available to charities on a ‘pro bono’ basis. Sue Holloway, Managing Director of Pro Bono Economics has sent us this update.
The Economics Network, Shaping tomorrow's economics graduates, by Ashley Lait
The Network has spoken to a number of UK departments to find out about changes in teaching practice. These conversations showed that universities are focusing on two key areas: developing students’ critical skills and employability; and improving the learning experience and assessment process.
The Adam Smith Tartan, by Robert Wright
The Scottish Economics Society has created a new corporate tartan that honours the great Scottish economist and philosopher, Adam Smith. This note was prepared by Robert Wright, a past President of the Society and Keeper of the Tartan.
A haircut every year, by Thomas Colignatus
Governments in the European Union suffer under high rates of interest. Components of interest are: (1) the risk free rate like Germany has; (2) the liquidity premium that we can determine from, say, the difference between Germany and Holland or Finland; (3) the risk of default that applies to Greece; and (4) stigma that consists of irrational factors that become rational since they are rewarded. Thomas Colignatus1 suggests a new rule helps to reduce (4) and to prevent it developing into (3).