This is just a list of textbooks that I’ve taught from, and like:
- Mankiw, N.G., and Taylor, M. P., 2011, “Economics“, (Cengage Learning, 2nd edition)
- Cowen, T. and Tabarrok, A., 2012, “Modern Principles of Economics” (Worth, 2nd edition)
- Heyne, P., Boettke, P and Prychitko, D., 2013, “The Economic Way of Thinking” (Prentice-Hall, 13th edition)
- Begg, D., Fischer, S., and Dornbusch, R., 2008, “Economics“, (McGraw Hill, 9th Edition)
- Schotter, A., 2008, “Microeconomics: A Modern Approach” (Addison Wesley, International edition)
- Snowden, B., Vane, H., and Wynarczyk, P., 1994, “A Modern Guide to Macroeconomics“, (Elgar)
- Romer, D., 2011, “Advanced Macroeconomics” (McGraw Hill 4th edition)
- Froeb, L.M., McCann, B.T., Ward, M.R., and Shor, M., 2014, “Managerial Economics: A Problem Solving Approach” (Thomson South-Western, 3rd edition)
- Moss, D., 2014, “A Concise Guide to Macroeconomics: What Managers, Executives, and Students Need to Know” (Harvard Business School Press, 2nd edition)
And don’t forget: Markets for Managers!
This proposed two-day 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.
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
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: Workshop
Please get in touch if you would like further information.
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
The study has been published by the journal Simulation and Gaming.
Images by Soapbox
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.
Students in the Pre-Masters Year of the ESCP Europe Masters in Management program took part in the trial run on March 22, 2011, which involved only the PIIGS countries. The key results were the following:
- Portugal was able to cut its debt in half, primarily because so much of that debt was held by Spain.
- Ireland reduced its debt by 99.74%, mostly through deals with Spain and Portugal. It was able to make use of trading period 3 by moving short- and medium-term debt into long-term debt.
- Italy had a weak bargaining position, as it began with the worst debt position (a high concentration of short-term debt). After reducing debt by 50% in period 1, it was unable to make further gains.
- Greece reduced its debt by 11% but mostly because it had little exposure to the other PIIGS countries. It was unable to make any trades after period 1.
- Spain managed to eliminate all of its debt obligations to the other PIIGS countries, although it owed significant amounts to Britain, France, and Germany. Spain found that it could deal with everyone at the table quite equally.
Main data sources
Resources for instructors
If you would like to replicate this simulation in your classroom, download this 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!
For more details or media enquiries please contact Anthony J. Evans.
This article intends to walk through a process for collecting and presenting data. It will include some basic commands in Excel and Powerpoint. The slide deck below provides a step-by-step guide. You should follow it in order to complete the set tasks.
You will need the following to get started:
1. Replicate the following PDF file: “aje_data_chart.pdf”
2. Replicate the following PNG image:
Resources on powerpoint:
Resources on data visualisation:
Some examples of good data visualisation: