Oxford University Business Economics Programme

summer 2022 Fundamental Economics: Economics for Business Success

Online lecture series available from 30 May

 

enhanced programme: Residential week, July

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Fundamental Economics: Economics for Business Success

The Oxford University Business Economics Programme is an internationally respected executive programme, hosted by the Department of Economics and currently celebrating its 70th year. 

Our summer 2022 programme ‘Fundamental Economics: Economics for Business Success’ is designed to give managers at all levels a foundation in economics which they can use to develop impactful business strategies in today’s challenging economic climate.  

To offer you as much flexibility as possible, delegates can choose between our enhanced programme option, which includes an intensive week of in-person tutorials and networking opportunities in Oxford, or an online-only option.

Under the enhanced programme, you will be given access to 20 online lectures delivered by our world-class faculty in June, and hosted for a week of intensive tutorials and networking opportunities in Oxford from 11-15 July. Your intensive tutorial week includes 18 hours of small-group tutorials, a number of structured collaborative projects and case study exercises, and networking opportunities over formal dinners and team building activities. The enhanced programme fee is £12,500, which includes accommodation at Keble College, all meals, and group activities.

The online-only programme option gives you access to the same lectures and learning resources, and you’ll also benefit from a six-week period where our tutors will be on hand to answer questions about the lectures. The online-only course fee is £1,950, and the lecture material and learning platform will be available to you for three months.

Whichever option you choose, our summer programme will provide an invaluable learning experience that will allow you to focus and explore economic theory and its real-world application, so you can better understand the challenges and choices that today’s businesses face, and their impact on the wider world. 

 You can read more about the course syllabus and structure, and register by following the link below, or by contacting the OUBEP Team oubep@economics.ox.ac.uk 

Which Programme option is right for you?

enhanced Programme includes Residential tutorial week 11-15 July

If you would like to experience the city of Oxford and meet our expert tutors in person, then this option is for you. 

The enhanced programme combines 20 online lectures with a 5-day residential tutorial week in Oxford. The lectures, available six weeks ahead of the residential week, will cover 10 distinct topics. During this period you will have the opportunity to chat with our tutors online and complete short activities, so that you feel well-prepared for your week in Oxford. 

Enhanced programme fee:
£12,500.00 (includes all lectures and accommodation costs)

Online (Lectures Only) available from 30th may

 

If you are unable to attend the full programme, we have this new flexible option to view all our lectures online from the comfort of your own home or office.

Thelectures-only programme provides you with the same 20 online lectures covering 10 distinct topics as the full programme. You will be given access to the lectures for three months, and also benefit from a six-week period, starting on Monday 30 May, where drop-in sessions with the programme tutors will be available. 

Online lectures only fee:
£1,950.00 (includes tutor online drop-in sessions and all online activities)

Topics and Lectures

Topics and
Lectures

1.

(Missing) markets

Can economics help us understand the current climate crisis? The short answer is yes! In certain situations, markets may “fail” or even be “missing” altogether. Prices of goods/services may not reflect the “true” social costs. Pollution and global warming are examples of such market failures. In these lectures, we introduce the basic concepts of markets, when and how they may fail and what remedies may be used to help.

Lectures:

  • The basics of supply and demand
  • Missing markets and saving the planet

2.

Market power

How can businesses strike the right balance between volume and profit margins and how does this trade-off depend on market competitors? What happens when there are no physical resource constraints, e.g. for information-based products? Our next two lectures guide you through the basic rules you need to apply when choosing between scale and price. We also demonstrate how these rules can change depending on the economic environment.

Lectures:

  • Exploiting market power
  • Pricing, product differentiation and market positioning

3.

Strategic reasoning

Understanding the competitive landscape is crucial when entering a new market. But what if your competitors are aware of your offering and take an offensive stance? Should you still proceed, or will the threat make the post-entry battle unprofitable? Here we provide the basics of game theory and apply them to familiar market entry scenarios.

Lectures:

  • Basics of game theory
  • Future play and market entry

4.

The power of information

What happens when you and your customers do not have the same information? From used car sales to financial markets and complex insurance – there is a hierarchy of understanding. Market participants often know more than others about asset valuations and underlying performance, and in these lectures, we show you the power of information and signalling. We also discuss how to elicit – otherwise unobserved information – by a clever design of contracts.

Lectures:

  • Screening and signalling
  • Corporate finance
  • Contract design

5.

Auctions: How to bid and when it’s better to
lose than win

Should you always celebrate when you win in an auction? This lecture will explore to what extent auction design shapes incentives of bidders and the outcomes for the auctioneer. How do you design an auction that raises as much revenue from participants as possible? We will discuss applications of auctions across a variety of contexts from procurement to search keywords.

Lectures:

  • Auction design

6.

The basics of behavioural economics

What are the key behavioural biases and how do they affect your approach to pricing policy and marketing strategy? How can you motivate employees that care about reciprocity and fairness? In this special topic lecture, we will explore how psychology and economics interact, and how understanding this interplay will help you decide the best way to incentivise your customers and your workforce.

Lectures:

  • The basics of behavioural economics

7.

The macroeconomy

How do we measure Gross Domestic Product (GDP)? What does it tell us about the macroeconomy? What other indicators help us understand the health of our economy? And what role does the intermediation of financial resources play in this regard? These lectures provide an insight into the macroeconomy and how it works.

Lectures:

  • GDP and beyond
  • The role of the financial sector

8.

Saving the economy from recessions

What is Quantitative Easing and how is it different from the other “conventional” tools that central banks can use to help prop up economies? Will the large-scale fiscal responses to the COVID-19 recession lead to unsustainable national debts? These lectures explore the potential answers to these questions using basic, yet powerful, frameworks so you can understand why economies experience booms and recessions.

Lectures:

  • Central banks, inflation targeting and quantitative easing
  • Fiscal policy and debt sustainability

9.

Globalisation, nationalism and supply chains

How did COVID-19 change the trade-off between globalisation and nationalism when it disrupted global supply chains? Who benefits and who loses when the USA and China enter a trade war? In these lectures, we discuss the rationale behind free trade and we study the winners and losers from trade liberalisations. We also touch upon the magnitude and importance of global supply chains and what happens to trade policy when they are disrupted.

Lectures:

  • The basics of international trade
  • Globalisation and supply chain disruptions
  • Winners and losers of trade liberalisation

10.

Inequality, entrepreneurship and economic
growth

Why does inequality within and across countries persist and what drives economic growth? How can entrepreneurship and startups affect the macroeconomy? In this final series of lectures, we will develop your understanding of economic growth and inequality in the current environment. We will also demonstrate how important entrepreneurship and startups are for growth and highlight concerns around the barriers and disruptions that startups face, such as those during the Great Financial Crisis or the COVID-19 pandemic.

Lectures:

  • Growth within and across countries
  • Entrepreneurs, startups and innovation

Programme Tutors

The core programme is curated and delivered by the department of Economics’ leading academics whose tutoring experience and cutting edge research make the programme insightful, engaging and unique to OUBEP.

Abi Adams_Prassl

Abi Adams-Prassl

Director of External Engagement

Abi is an Professor at the Department of Economics at the University of Oxford. She has published in leading journals in Economics, Law, and Computer Science, and is on the editorial board of The Review of Economic Studies, one of the leading economics journals globally. She has raised over £2.5million in research funds for a range of projects on the impact of technology of work and the justice system, and on understanding gender inequality in the labour market and beyond. She was awarded the Economic & Social Research Council’s Outstanding Impact on Public Policy Prize and was selected as an initial leader of the Oxford Policy Engagement Network.

Alongside her University work, Abi is currently a Specialist Advisor to the UK Parliament Women & Equalities Select Committee and advises a range of stakeholders on empirical analysis relating to strategic litigation in the realm of public law and human rights.

Abi Adams_Prassl

Alex Teytelboym

Director of OUBEP

Alex Teytelboym is an Associate Professor in Economics within the Department of Economics in Oxford, a Tutorial Fellow at St Catherine’s College, and a Senior Research Fellow. At the Institute for New Economic Thinking (INET) at the Oxford Martin School.

His main research interests lie within market design (e.g. matching markets and auctions) and network economics. He is interested in the applications of economic theory to many policy areas, including environment, energy and refugee resettlement.

Abi Adams_Prassl

Petr Sedlácek

Senior Tutor for OUBEP

Petr is a macroeconomist with a particular interest in the vast heterogeneity among workers and firms. He is fascinated by the question of how worker and firm heterogeneity interacts and how it shapes and is shaped by, the aggregate economy. His research combines empirical analysis of micro-level and aggregate data for macroeconomic questions and theoretical and quantitative models with heterogeneous agents.

Petr is the senior tutor for OUBEP and as such curates the academic programme and content for all seminars and the summer programme.

The Oxford University Business Economics Programme aims to provide a unique combination of high-calibre academic tuition, industry-leading speakers, and a diverse group of delegates, in order to influence future leaders and inspire effective critical thinking.

We create opportunities to explore economic theories, and apply those theories to solve problems and create strategic impact.

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Programme fees

Enhanced Programme: £12,500.00 (Includes all lectures and accommodation costs)

Online lectures only: £1,950.00 (includes tutor online drop-in sessions and all online activities)

For more information email us: oubep@economics.ox.ac.uk 

The OUBEP summer school programme is facilitated by the Department of Economics