Author Archives: aje


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I am a UEFA qualified soccer coach and a non league scout.


  • 2005, Head Coach: The Royal Pigeons, Vienna Youth, u10s
  • 2003-2004, Team Manager: Ashville Colts, u10s
  • 2001-2004, Head Coach: Hills Soccer, Wirral


  • UEFA B Coaching Certificate
  • First4Sport Level ’2′ Certificate in Coaching Football
  • FA First Aid Certificate


I spent September 2011 – December 2011 as Fulbright Scholar-in-Residence at San Jose State University. This page provides a list of some of the public activities I took part in. Personal photos of the trip are at Flickr.

9/12 Meeting at Independent Institute, Oakland

9/21 “The problem with shock therapy is not enough volts: Why Russia needs more powerful oligarchs” David S. Saurman Provocative Lecture Series, San Jose State University

9/26 “Why Market Monopolies are OK”, Civil Society Institute, Santa Clara University

9/30 “Whistleblowing and the knowledge problem”, College of Business, San Jose State University

10/3 Attendee of the “Monetary Policy Workshop”, San Francisco Federal Reserve

10/7 “The Financial Crisis in the U.K.:  Uncertainty, Calculation, and Error”, Department of Economics Friday Workshop, San Jose State University

10/11 Fulbright Visiting Scholars Luncheon, Stanford University Faculty Club

10/11 Hoover Institution archives, Stanford University

11/10 “Why whistleblowing protection fails and what to do about it” Lucas Graduate School of Business, San Jose State University

11/16 “The role of ignorance in economic crises: The UK experience during the great recession” Cal State East Bay


This is just a list of textbooks that I’ve taught from, and like:


  • Principles of Economics, N. Gregory Mankiw
  • The Economic Way of Thinking, Paul Heyne, Peter Boettke, and David Prychitko
  • Modern Principles of Economics, Tyler Cowen and Alex Tabarrok


  • Microeconomics, Andrew Schotter
  • Advanced Macroeconomics, David Romer


  • Managerial Economics, Luke Froeb and Brian McCann
  • A Concise Guide to Macroeconomics, David Moss

Markets for Managers: A Case Method Seminar

For my textbook see here.

This proposed seminar is aimed at junior faculty teaching on general management programs. It shows attendees how to teach using the case method, and provides content for market-focused courses. If satisfactory progress is made attendees will then become licensed to utilise the classroom material in their own courses, and have access to ongoing support and follow up workshops.


  • Proposal for a Licensed Course – email me
  • Toward a Pedagogical Manuel – email me
  • Course Map


Day 1

Introduction to participant-centred learning

  • 9:00am – 10:30am | Session 1: A negotiation exercise
    • Malhotra, Deepak, “Hamilton Real Estate”, Harvard Business School Case Nos. 9-905-052 and 9-905-053
  • 11:00am – 12:30pm | Session 2: A classroom simulation
    • Holt, Charles A., and Sherman, R., (1999) “A Market for Lemons”, Journal of Economic Perspectives

The Case Method

  • 2:00pm – 3:30pm | Session 3: Competitiveness
    • Sölvell, Ö and Porter, M,  ”Finland and Nokia”, Harvard Business School case no. 9‐702‐427
  • 4:00pm – 5:30pm | Session 4: Public Finance
    • “Rovna Dan: The Flat Tax in Slovakia”, Harvard Business School case no. 9-707-043, March 2010

Day 2

Create your own teaching notes

  • 9:00am – 10:30am | Session 5: Prediction markets
    • Coles, Peter, Lakhani, Karim and McAfee, Andrew, “Prediction Markets at Google” Harvard Business School Case No. 9-607-088, August 20, 2007
  • 11:00am – 12:30pm | Session 6: Market-Based Management (R)
    • Weston, Hilary A., “Automation Consulting Services”, Harvard Business School Case No. 9-190-053, November 2000

Create your own cases

  • 2:00pm – 3:30pm | Session 7: La Marmotte
    • Evans, Anthony J., La Marmotte, January 2012
  • 4:00pm – 5:30pm | Session 8: TBD


Course Map

This is a list of 80 minute sessions that I regularly teach across various general management programmes. They are a combination of lectures (denoted with an *), cases, and simulations. Many of the Harvard cases have detailed Teaching Notes, but feel free to contact me if you’d like to see my own versions. Up to date versions of my own cases, are available here.

Microeconomics I

  • Incentives matter*
  • Max U
    • Maximilian Untergrundbahn, January 2013
  • Incentive design
    • Incentive Design, February 2011
  • Understanding cost
    • Malhotra, Deepak, “Hamilton Real Estate”, Harvard Business School Case Nos. 9-905-052 and 9-905-053
  • Cost curves
    • La Marmotte, January 2012
  • Economies of scale
    • “Dogfight over Europe: Ryanair (A)” Harvard Business School case no. 9-700-115, November 21st 2007
  • Market equilibrium
    • Holt, Charles A. “Classroom Games: Trading in the Pit Market.” Journal of Economic Perspective. 10 (Winter 1996) 193-203
  • Markets in everything
    • “I’ve got debts, please buy my kidneys” The Times September 27th 2009
  • Price discrimination
    • An Economist’s Passage to India, February 2012
  • Price techniques
    • Wembley Stadium, July 2012
  • Competition and the market process*
  • CC Simulation
    • CC Simulation, March 2012

Microeconomics II

  • Game theory*
  • Oligopoly
    • Beckman, Steven R., “Cournot and Bertrand games” Journal of Economic Education, Vol.34, No.1, pp.27-35
  • Auctions
    • Hild, M., Dwidevy, A., and Raj, A., (2004) “The Biggest Auction Ever: 3G Licensing in Western Europe”, Darden Business Publishing
  • Capital theory*
  • Adverse selection
    • Holt, Charles A., and Sherman, R., (1999) “A Market for Lemons”, Journal of Economic Perspectives
  • Signalling*
  • Internal markets
    • Wessen, R.R. and Porter, D., “The Cassini Resource Exchange” Ask Magazine 16, Fall 2007, p. 14-18
  • Prediction markets
    • Coles, Peter, Lakhani, Karim and McAfee, Andrew, “Prediction Markets at Google” Harvard Business School Case No. 9-607-088, August 20, 2007
  • Corporate entrepreneurship
    • Weston, Hilary A., “Automation Consulting Services”, Harvard Business School Case No. 9-190-053, November 2000
  • Market-Based Management (R)
    • Finegan, J., “Pipe Dreams” Magazine, August 1994
  • The firm
    • Coase R.H., “The Nature of the Firm” Economica, New Series, Vol. 4, No. 16. (Nov., 1937), pp. 386-405
    • Hayek, F.A., “The Use of Knowledge in Society” The American Economic Review, Vol. 35, No. 4. (Sep., 1945), pp. 519-530

Macroeconomics I

  • Public finance
    • “Rovna Dan: The Flat Tax in Slovakia”, Harvard Business School case no. 9-707-043, March 2010
  • Monetary policy I*
  • Monetary policy II
    • “The Euro in Crisis: Decision Time at the European Central Bank” Harvard Business School case no. 9-711-049
  • Fiscal policy*
  • The Great Depression*
  • International economics
    • Josko Joras (A), December 2012
  • Signal extraction [WIP]

Macroeconomics II

  • Growth theory
    • Solow, R., (1956) “A Contribution to the Theory of Economic Growth” The Quarterly Journal of Economics, 70(1):65-94
  • Dynamic AD-AS model*
  • ISLM*
  • Behavioural finance
    • “Sun: A CEO’s Last Stand”, Business Week, July 26th 2004
  • EMH*
  • Banking crises
    • Diamond, D.W., and Dybvig, P.H., (1983) “Bank Runs, Deposit Insurance, and Liquidity”, Journal of Political Economy, 91(3):401-419
  • Currency crises
    • “Currency Crises” Harvard Business School case no. 9-799-088
  • Debt crises
    • Blustein, P., “And the Money Kept Rolling In” Public Affairs, 2005 (pp.39-60)
  • Transition I*
  • Transition II*
  • Public choice*
  • Global prosperity*
  • MPC Simulation
    • MPC Simulation, , December 2012
  • ECB Simulation
    • ECB Simulation, March 2011
  • Wiggle room
    • The Balkan Wiggle-Room Index, December 2012
  • Scenarios*

The Evans Rule

Once you have X publications make a list of your best Y articles. Put it on your website. The Evans Rule of Publications is to only publish future articles that you expect to replace ones on that list.

As a Junior Faculty member X=Y. If there is a “publish or perish” culture then Y->X. However the Evans Rule applies to those wishing to make a tradeoff between quantity and quality. As you develop more autonomy over your publication goals, Y can fall. Note that this doesn’t mean your best “hits” – it is your subjective judgment about the quality of the paper, regardless of where it is published.

For me X=20 and Y=8. Here are my selection (in chronological order):


EU Debt Write Off

This page presents the results of a simulation conducted by students at ESCP Europe Business School. The aim was to uncover the amount of interlinked debt between Portugal, Ireland, Italy, Greece, Spain, Britain, France, and Germany; and then see what would happen if they attempted to cross cancel obligations.

The results were astounding:

  • The countries can reduce their total debt by 64% through cross cancellation of interlinked debt, taking total debt from 40.47% of GDP to 14.58%
  • Six countries – Ireland, Italy, Spain, Britain, France and Germany – can write off more than 50% of their outstanding debt
  • Three countries – Ireland, Italy, and Germany – can reduce their obligations such that they owe more than €1bn to only 2 other countries
  • Ireland can reduce its debt from almost 130% of GDP to under 20% of GDP
  • France can virtually eliminate its debt – reducing it to just 0.06% of GDP

For more information download the full report: The Great EU Debt Write Off (.pdf)

Images by Soapbox

The idea

The idea is very simple – if Portugal owes Ireland €0.34bn of short term debt, and Ireland owes Portugal €0.17bn, we can write off Ireland’s obligations and leave Portugal with a reduced debt of €0.17bn.If you are both a debtor and a creditor you do not need money to settle claims. Rather than require additional funds to deal with choking debt, why not write it off?
The diagrams above show the before and after situation, based on analysis done by students. The simulation itself took place on May 17th 2011 and involved three separate trading rounds.

Main data sources

Resources for instructors

If you would like to replicate this simulation in your classroom, email me for a zip file. It includes:

  • All of our data (including sources and notes)
  • The starting positions for each country
  • The results table to provide real time information to students
  • A summary sheet for students to complete each round
Please let us know how you get on!

Further reading

Media coverage


For more details or media enquiries please contact Anthony J. Evans.

MBA Library

1. The Economic Way of Thinking

  • Schwartz, Peter. (1997) The Art of the Long View: Planning for Future in an Uncertain World, John Wiley & Sons
  • Koch, Charles. (2007) The Science of Success, Wiley

2. Cost and choice

3. Market exchange

  • Klemperer P., (2004) Auctions: Theory and Practice, Princeton University Press

4. Prices and economic calculation

  • Fisman, R., and Sullivan, T., The Org: The Underlying Logic of the Office, Twelve Books

5. Competition and the market

  • Mathews, John (2007) Strategizing, Disequilibrium and Profit, Stanford University Press
  • Dixit, A.K., Nalebuff, B.J. (1993) Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life, W.W. Norton

6. Capital theory and recalculation

7. Public finance

  • Ferguson, Niall, (2002) The Cash Nexus: Money and Politics in Modern History, 1700 – 2000 ,Penguin

8. Monetary theory

  • Whalen, C.R., (2010) Inflated: how money and debt built the American dream, Wiley

9. Fiscal policy

10. International economics

  • Blustein, P., (2006) And the money kept rolling in (and out), Public Affairs
  • Yeager, L., (1954) Free trade: America’s opportunity Liberty Fund.

11. Behavioural economics

  • Poundstone, William (2010) Priceless: The Hidden Psychology Of Value Oneworld
  • Kindleberger, Charles (2000) Manias, Panics, and Crashes: A History of Financial Crises Wiley Investment Classics (4th Ed)
  • Ookstaber, Richard, (2007) A Demon of Our Own Design: Markets, Hedge funds, and the Perils of Financial Innovation Wiley
  • Thaler, Richard (1994) The Winners Curse Princeton University Press
  • Taleb, Nassem (2001) Fooled by Randomness W. W. Norton & Company

12. Globalisation and prosperity

  • Bauer, Peter (2000) From Subsistence to Exchange Princeton University Press
  • De Soto, Hernando (1989) The Other Path Basic Books
  • Aslund, Anders (2007) How Capitalism was Built: The Transformation of Central and Eastern Europe, Russia, and Central Asia Cambridge University Press
  • Skidelsky, Robert (1996) The Road from Serfdom: The Economics and Political Consequences of the End of Communism New York: Viking Penguin