In preparation for LSE

RICHARD H. THALER is the father of behavioral economics—the study of how thinking and emotions affect individual economic decisions and the behavior of markets. He investigates the implications of relaxing the standard economic assumption that everyone in the economy is rational and selfish, instead entertaining the possibility that some of the agents in the economy are sometimes human. Thaler is Director of the Center for Decision Research at the University of Chicago Graduate School of Business. He is coauthor (with Cass Sunstein) of Nudge: Improving Decisions About Health, Wealth, and Happiness

Behavioural Economics:

Link 1

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Link 6

Link 7


Listen to:

Behavioural Economics: Common Mistakes in Daily Decisions
Speaker: Professor Dan Ariely
Chair: Professor Lawrence Phillips
This event was recorded on 17 March 2008 in the Old Theatre, Old Building
Why do smart people make irrational decisions every day? Why do we repeatedly make the same mistakes when we make our selections? How do our expectations influence our actual opinions and decisions? The answers, as revealed by behavioural economist Professor Dan Ariely of MIT, will surprise you.
Available as: mp3 (17 mb; approx 75 minutes)

19, 20, 21 November 2007, Lecture Series: The Psychology of Saving and Investment (1, 2, 3) presented by Professor David Laibson at London School of Economics and Political Sceince in UK (Audio file is downloadable).

March 28 and 29, 2007, Lecture Series,Topics in Experimental and Behavioral Economics, presented by Arno M. Reidle at Munich Univeristy.

March 2, 9 & 10, 2007, Behavioral and Experimental Economics, presented by Ernst Fehr (University of Zürich) Munich University.

September 27 & 28, 2007, Seminars on Implications of Behavioral Economics for Economic Policy, Federal Reserve Bank of Boston. Here is the text of president's speech by Janet L. Yellen, President and CEO, Federal Reserve Bank of San Francisco

• Introductory Articles concerning Behavioral Game Theory:

1. Progress in Behavioral Game Theory written by Colin Camerer
2. Behavioral Game Theory: Thinking, Learning and Teaching," written by Colin Camerer with Teck-Hua Ho and Juin Kuan Chong. (downloadable)
3. "Functional EWA: A one-parameter theory of learning in games." Includes 4 more data sets not in May 2002 version. Ho, Teck-Hua; Colin F. Camerer; and Juin-Kuan Chong. Nov. 2002. May 2002 version (downloadable)
4. Sophisticated EWA learning and strategic teaching in repeated games," written by Colin Camere with Teck-Hua Ho and Juin Kuan Chong. Journal of Economic Theory, May 2002, 104 (1), 137-188 (downloadable)

Basic Books in Behavioral Game Theory:

1. Behavioral Game Theory : Experiments in Strategic Interaction (The Roundtable Series in Behavioral Economics) by Colin F. Camerer

Trip to LSE

So, off we go. One final thing though - are you sure you have checked the conditions....about HOMEWORK.

David and Mary have outstanding Economics homework (Unit 2)
Several people were sent homework on ETHICS when we last went.

A few of you have yet to confirm...

Important notice to those going to LSE on Tuesday!

Looking at the list:

The following are going to the talk on China:

• Bibi
• David
• Lex
  
• Kirilll
• Sairan
• Mary
• Aidana
• Hai Long
• Rebecca

Of the above, Kirill, Long and David have missed at least one trip before. So how reliable are they?

Also would you rather go to this:

Poverty Free World: When? How? Annual Romanes Lecture 2008 Professor Muhammad Yunus, winner of the Nobel Peace Prize 2006. "Poverty belongs to poverty museums. Let's get ready to put it there once and for all." A manifesto for change delivered by the father of microcredit and one of the world's leading exponents of economic advancement.
5.45pm. Free entry
Sheldonian Theatre , Broad Street; Tel. 305305 .




or...

China After the Olympics (LSE)

MAKE SURE YOU COMMENT BEFORE MONDAY!

Trip to LSE - final list

The following are going to the talk on China:

• Bibi
• David
• Lex
  
• Kirilll
• Sairan
• Mary
• Aidana
• Hai Long
• Rebecca

I am surprised that others didn't want to go.

Oh well, it's up to you.

I think it will be really interesting.

China After the Olympics

Date: Tuesday 2 December 2008
Time: 6.30-8pm
Venue: Old Theatre, Old Building
Speakers: Professor Chris Hughes, Professor Athar Hussain, Martin Jacques, Professor Chen Jian, Mark Leonard
Chair: Professor Arne Westad

I said there will be further tasks.

In fact there is just one:

If, on the day of the trip, any of the above are behind with any of their homeworks (see 'Homework' section) then they will not be allowed to go.

Easy!

It was surprising that no-one wanted to go to this

No-one has said they want to go to this either - which is very surprising. Here is a brief summary:

"If you’re an aspiring entrepreneur aiming to start or expand a business, then there’s only one date for your diary this November: Business Start-Up 2008. We’ve been at this for nearly a decade now, every year bringing the cream of the entrepreneurial crop together under one roof. Business Start-Up is the UK’s biggest and most vibrant exhibition for those starting or expanding in the world of business. And we’re here to help, because we know what a big, bad place it can be.

There is something for everyone, whether you’re simply playing with the idea of starting a business or are half-way through expanding. Either way, come and take full advantage of everything our 200 experienced and innovative exhibitors have to offer, including advice on everything from book-keeping and finances to websites and marketing.

Also, hear first-hand from the entrepreneurs who have already been through the starting and expanding process. Learn about the secrets, shortcuts, successes and pitfalls of business from our live speakers, including James ‘Dragons’ Den’ Caan, David Gold and Caprice."

http://www.bstartup.com/

This will be in 12 days time. If interested, put your name here by Tuesday mid-day.

New Event at LSE: China after the Olympics

China After the Olympics

Date: Tuesday 2 December 2008
Time: 6.30-8pm
Venue: Old Theatre, Old Building
Speakers: Professor Chris Hughes, Professor Athar Hussain, Martin Jacques, Professor Chen Jian, Mark Leonard
Chair: Professor Arne Westad

Whether we think sport and politics should or should not be mixed, it is clear that in the case of the Beijing Olympics the two have never been more closely intertwined. But how has the Olympics impacted on China? Has it improved or worsened China's image in the world? And how will it effect its future relations with the West?

Chris Hughes is the senior lecturer in the Department of International Relations at LSE. Athar Hussain is director of the Asia Research Centre. Martin Jacques is a visiting research fellow in the Asia Research Centre, LSE. Chen Jian is the Philippe Roman Chair in History and International Affairs at LSE. Mark Leonard is the executive director of the European Council on Foreign Relations.

This event is free and open to all with no ticket required. Entry is on a first come, first served basis. For more information, email events@lse.ac.uk or phone 020 7955 6043.

As before if anyone wants to go then they must pass a series of tasks.

Tasks

1. Show their interest by putting their name here. This must be done by TUESDAY.

I will then seek permission to take people. If succesful then there will be further tasks in relation to previous events at LSE.

Podcasts, Transcripts and Webcasts
Your chance to read event transcripts, listen to podcasts and watch videos of past events at LSE
Information about upcoming webcasts on LSE Live

LSE - the final list

Those who passed all three stages:

Elvira
Rebecca
Sairan
David
Anastasia
Mary

and that's it...

Navigating Global Economic and Financial Change

Date: Tuesday 11 November 2008
Time: 6.30-8pm
Venue: Sheikh Zayed Theatre, New Academic Building
Speaker: Mohamed A El-Erian
Chair: Professor Willem Buiter

The global economy is experiencing a number of consequential transformations that impact long-standing economic and financial relationships. The resulting change goes well beyond the emergence of a new destination for the global economy; it is also reflected in what is an inevitably bumpy journey that is prone to a series of market accidents and policy mistakes.

In his presentation, Mohamed A. El-Erian will discuss the nature of the transformations. He will detail the drivers, and illustrate how they relate to the unusual developments being experienced by international markets. He will conclude by identifying some of the retooling challenges that confront investors, firms, governments, and the multilateral system.

Mohamed A. El-Erian is co-CEO and co-CIO of PIMCO. He was previously the President and CEO of Harvard Management Company, and a member of the faculty of Harvard Business School. He obtained masters and doctorate degrees from Oxford after completing his undergraduate studies at Cambridge. He is the author of a recent book featured on the New York Times and Wall Street Journal bestsellers lists: When Markets Collide: Investment Strategies for the World of Global Economic Change (July 2008, McGraw Hill).

This event is free and open to all with no ticket required. Entry is on a first come, first served basis. For more information, email events@lse.ac.uk or phone 020 7955 6043.

The event is on a first come first served basis so we will have to be early up there - this means leaving Oxford around mid-day I suspect.

How to get to LSE

LSE
Houghton Street
London WC2A 2AE
England UK

Tel: +44 (0) 20 7405 7686

This is another course you all should attend.

Trip to LSE - update

I wrote:

2. Write a 300 word blog about the work of Mohamed A. El-Erian. You will find resources about him on the internet. If there is ANY copy and Paste then you don't go. This has to be done by Tuesday lunch-time

Lotfi - not completed task 2
Elvira - completed task 2
Rebecca - not completed task 2
Sairan - still a bit to go on task 2
Kirilll - not completed task 2
Mary - completed task 2
Aidana - still a bit to go on task 2
Bibi - some way to go on task 2
David - not completed task 2
Anastasia - still a bit to go on tsk 2

So, on current performance just 2 of you with maybe 4 more. You have until mid-day Tuesday and then task 2 closes.

3. The third task will be given to you this week.

Anyone who does not comply with these tasks in the timespan given will not be allowed to go - and if that means no-one goes then so be it

The third task will be given tomorrow.

Most people have not completed task 2 so the group will be very small. I have to give in final names on Thursday.

Once I give those in there can be no changes.

Trip to LSE - just 10

The lucky 10....

Lotfi
Elvira
Rebecca
Sairan
Kirilll
Mary
Aidana
Bibi
David
Anastasia


But first there is a task you must do - fail to do it and you don't go.

Remember also the tickets are first come first served so I have to make sure you all get in - which means we leave in the morning.

There are THREE elements to the task:

1. So of the nine of you, you must all confirm you're interested in going. This you do by posting acknowledgement here. This you do by mid-day Monday

2. Write a 300 word blog about the work of Mohamed A. El-Erian. You will find resources about him on the internet. If there is ANY copy and Paste then you don't go. This has to be done by Tuesday lunch-time

3. The third task will be given to you this week.

Anyone who does not comply with these tasks in the timespan given will not be allowed to go - and if that means no-one goes then so be it. If you do comply and we go you will get so much more out of the visit if you have done the preparation.

Trip to LSE: Tuesday 11 November 2008

OK here are the details:

Navigating Global Economic and Financial Change

Date: Tuesday 11 November 2008
Time: 6.30-8pm
Venue: Sheikh Zayed Theatre, New Academic Building
Speaker: Mohamed A El-Erian
Chair: Professor Willem Buiter

The global economy is experiencing a number of consequential transformations that impact long-standing economic and financial relationships. The resulting change goes well beyond the emergence of a new destination for the global economy; it is also reflected in what is an inevitably bumpy journey that is prone to a series of market accidents and policy mistakes.

In his presentation, Mohamed A. El-Erian will discuss the nature of the transformations. He will detail the drivers, and illustrate how they relate to the unusual developments being experienced by international markets. He will conclude by identifying some of the retooling challenges that confront investors, firms, governments, and the multilateral system.

Mohamed A. El-Erian is co-CEO and co-CIO of PIMCO. He was previously the President and CEO of Harvard Management Company, and a member of the faculty of Harvard Business School. He obtained masters and doctorate degrees from Oxford after completing his undergraduate studies at Cambridge. He is the author of a recent book featured on the New York Times and Wall Street Journal bestsellers lists: When Markets Collide: Investment Strategies for the World of Global Economic Change (July 2008, McGraw Hill).

This event is free and open to all with no ticket required. Entry is on a first come, first served basis. For more information, email events@lse.ac.uk or phone 020 7955 6043.

I am going to organise this for all A level students at EF BUt the ONLY people I will take will be those who show their interest by putting their name in the comments box. The reason for this is simple.

If you put your name in the comment box then it shows me you read the blog and - I hope - are a serious student.

I will be giving a list of names to Ian in about 2 weeks time and the trip will then be formally organised. I am HOPING there will be a bus provided but if not then we go by coach. You would have to pay for your own transport.

The ONLY people allowed to go will be people who sign up here.

If no-one signs then it's simple - we don't go. (There will be no advertisng)

The event is on a first come first served basis so we will have to be early up there - this means leaving Oxford around mid-day I suspect.

Example of what it may be like:

Do NOT forget...

Firstly there's the ECONOMICS HOMEWORK

Then there's the BUSINESS STUDIES HOMEWORK

Also you should go to some lectures at London School of Economics - they are open to the public and would be an excellent experience.

Also remember to visit this...