Economics in Action

The University of East Anglia has put together a very shiny YouTube video in which students and staff discuss the advantages of a degree in Economics.

Why will a £10 note buy you £10 worth of stuff?

After all, it’s just paper…right?

If there is anyone who should know, it’s Andrew Bailey, because if you look at the bank notes in your pockets and wallets, his signature will be on all of them. Robert Peston, the BBC ‘s business editor, went to the Bank of England to chat to the man who makes the money we use. He examines how we got into the recent financial crisis and what you can do to protect yourself.

You can find it Here

In this fun video, chocolate enthusiast James Ward describes how he visited more than 140 locations in London checking the price and sale condition of Cadbury’s Twirl chocolate bars. One of his slides includes the economist Adam Smith, and Ward sees his Twirl project as providing consumers with the information they need for the market to function smoothly. With his Google Map, you can save yourself as much as 10p by locating the cheapest Twirl on your street.

Ward even generated some statistics from his data, although he admits his correlation of shop name and Twirl availability is “worthless”. No one can accuse him of taking himself too seriously.

“Fear the Boom and Bust” a Hayek vs. Keynes Rap Battle

Econstories.tv is a place to learn about the economic way of thinking through the eyes of creative director John Papola and creative economist Russ Roberts.

In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis.

Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there’s a “boom and bust” cycle in modern economies (as you do) and good reason to fear it.

Get the full lyrics, story and free download of the song in high quality MP3 and AAC files at www.econstories.tv

Discuss and enjoy guys!

Economics is a subject in its own right but it is well known for incorporating other disciplines including sociology, philosophy, politics and maths. Maths in particular is integral to economics.

For some reason maths isn’t often seen as the fascinating subject it is. It allows us to build bridges, measure stars, play hopscotch, make cars, cook; the list seems endless. Economics uses maths to frame and test its theories.

The Radio 4 show More or Less which “is devoted to the powerful, sometimes beautiful, often abused but ever ubiquitous world of numbers” asked well-known guests and contributors to say why they love numbers. The short films include Konnie Huq, Vince Cable and Rick Edwards.

Economist or rock star? Maybe it’s not either/or after all. This group of economics postgraduates at UCLA have made an amazing rap video paying tribute to Daft Punk and the drive for statistical significance. Come for the beats, stay for the academics-versus-robots battle at the end.

Stronger from ticoneva on Vimeo.

This was a follow-up to the same group’s earlier “(I Can’t Write No) Dissertation”.

We’re pleased to be able to bring to you an online video called “A Double Take on Presentation Skills”, made by a lecturer and her students at Oxford Brookes University. It shows how (and how not) to develop team work and presentation ability in an economics course. Students can pick up some tips, not just about speaking to an audience but also about studying in a university; how you have to know what you’re talking about, but on the other hand you’re encouraged to interpret the ideas your own way, rather than just repeat what’s in the books.

Kudos to Judith Piggott and her students for their bravery in showing how cringe-inducing it is when things can go wrong.

We have now converted all eleven of our student films to MP4 format for use with iPods and other personal video players. The films have also been remastered to improve colours and contrast, making them even more suited for the small screen.

Made by groups of economics students from a variety of different universities, the films show different perspectives – sometimes serious, sometimes hilarious – on the usefulness of economic concepts.

Three short (i.e. 2 or 3 minute) videos from the BBC TV series “Trust Me, I’m an Economist” have found their way online, seemingly to promote the book by presenter Tim Harford. In part one, he gives free advice to someone who wants to be a gangsta rapper. In part two, he uses second-hand cars as examples of a problem called asymmetric information. In part three, he uses airport queues as an analogy for the stock market.

Films from our student film challenge are online. They can be viewed online or downloaded in better quality. Two of them show economics superheroes in action saving the world. Two more of them look at the university experience and why economics is a rational choice. Another film shows how various principles and concepts from economics apply to daily life. Thanks to all our student film-makers!