Ten Words to Understand the Economy



Overview

The economy plays an important part in most people's lives, but it is a big thing that is hard to understand, and that often works in unexpected ways. In this course, we will unravel some of the mysteries by studying ten basic economy-related concepts: the economy (what it is), money, growth, markets, government, bureaucracy, labour (and consumption), capital, globalisation, and the (economic) good.

The readings are mostly very straightforward and the approach will be informal and conceptual, with few numbers and no equations. There will be a mix of explanatory lectures and class discussion, with the goal of helping students recognise the concrete consequences of abstract ideas.

The underlying theme will be ethical: how are modern economies good? How are they bad? 

Programme details

Courses starts: 25 Apr 2024

Words of the week: 

Week 1: The economy

Week 2: Money

Week 3: Growth

Week 4: Markets

Week 5: Government

Week 6: Bureaucracy

Week 7: Labour

Week 8: Capital

Week 9: Globalisation

Week 10: The economic good

Digital Certification

To complete the course and receive a certificate, you will be required to attend at least 80% of the classes on the course and pass your final assignment. Upon successful completion, you will receive a link to download a University of Oxford digital certificate. Information on how to access this digital certificate will be emailed to you after the end of the course. The certificate will show your name, the course title and the dates of the course you attended. You will be able to download your certificate or share it on social media if you choose to do so.

Fees

Description Costs
Course Fee £257.00
Take this course for CATS points £10.00

Funding

If you are in receipt of a UK state benefit, you are a full-time student in the UK or a student on a low income, you may be eligible for a reduction of 50% of tuition fees. Please see the below link for full details:

Concessionary fees for short courses

Tutor

Mr Edward Hadas

Edward Hadas is a Research Fellow at Blackfriars Hall, Oxford. His Human Goods, Economic Evils: A Moral Look at the Dismal Science was published in 2007. He writes regularly on economics and finance from an ethical perspective for Reuters Breakingviews.

Course aims

To help students understand the key factors that make modern economies work the way they do.

Course objectives:

  • To explain the different ways that some important economic words are used.
  • To develop a basic understanding of modern economies' goods, bads, and trade-offs.
  • To recognise some common misconceptions about the economy.

Teaching methods

The class will be primarily lecture, with ample time for discussion. I am particularly interested in the students' economic anecdotes and experiences, which often exemplify broader principles. 

Learning outcomes

By the end of the course students will be expected to:

  • be able to use the ten words knowledgeably; 
  • be able to explain the basic workings of modern economies;
  • have thought about what economies can and should do for the common good of societies;
  • appreciate that bureaucracies are in some ways very good and in some ways pretty bad.

Assessment methods

Students wanting academic credit will be expected to submit a 500 world preliminary essay and a 1500 word final essay on a topic that is related to the course material and agreed with the instructor. 

Students must submit a completed Declaration of Authorship form at the end of term when submitting your final piece of work. CATS points cannot be awarded without the aforementioned form - Declaration of Authorship form

Application

To earn credit (CATS points) for your course you will need to register and pay an additional £10 fee per course. You can do this by ticking the relevant box at the bottom of the enrolment form or when enrolling online.

Please use the 'Book' or 'Apply' button on this page. Alternatively, please complete an enrolment form (Word) or enrolment form (Pdf).

Level and demands

No previous study of economics is required for this class. Exposure to academic economics, sociology or philosophy might be helpful, but students with no or limited relevant academic experience will not be at any disadvantage. 

Students who register for CATS points will receive a Record of CATS points on successful completion of their course assessment.

To earn credit (CATS points) you will need to register and pay an additional £10 fee per course. You can do this by ticking the relevant box at the bottom of the enrolment form or when enrolling online.

Coursework is an integral part of all weekly classes and everyone enrolled will be expected to do coursework in order to benefit fully from the course. Only those who have registered for credit will be awarded CATS points for completing work at the required standard.

Students who do not register for CATS points during the enrolment process can either register for CATS points prior to the start of their course or retrospectively from the January 1st after the current full academic year has been completed. If you are enrolled on the Certificate of Higher Education you need to indicate this on the enrolment form but there is no additional registration fee.

Most of the Department's weekly classes have 10 or 20 CATS points assigned to them. 10 CATS points at FHEQ Level 4 usually consist of ten 2-hour sessions. 20 CATS points at FHEQ Level 4 usually consist of twenty 2-hour sessions. It is expected that, for every 2 hours of tuition you are given, you will engage in eight hours of private study.

Credit Accumulation and Transfer Scheme (CATS)

Terms & conditions for applicants and students

Information on financial support