1. Studying Economics in TCD
Professor Carol Newman
Head of Department of Economics

3. Two fundamental questions….
What prompted the start of this sustained increase in living standards?
Why did it happen in some countries at certain times and not at all in others?
“The consequences for human welfare involved in questions like these are simply staggering: Once one starts to think about them, it is hard to think about anything else.”
(Robert Lucas)

4. What is Economics?
Economics is the study of how society manages its scarce resources
Scarcity - Wants >> Resources
Choices have to be made
Uncertainty and market failures makes those choices difficult
Incentives can be used to help with those choices (e.g. taxes, subsidies, regulations…)
Economics is the science of decision making.
Who will work?
What goods and how many of them should be produced?
What resources should be used in production?
At what price should goods be sold?

5. What is Economics? Two sub-fields
Microeconomics: the study of how households and firms make decisions and how they interact with markets
Macroeconomics: the study of economy-wide phenomena including inflation, unemployment, inequality, poverty and economics growth.
Economics explores questions such as:
Why are some countries poor while other countries are rich?
Why do some people have so much more than others?
Is it possible to pursue economic growth and still protect the environment?

6. Economics: Why? Very general discipline Relevant for very many careers
Platform for business:
Finance –debt or equity?
Strategy – high price or low price?
Platform for professions such as investment banking, law or accounting
Policy analysis
Micro – what type of development programmes work?
Macro – what type of borrowing/lending restrictions should be in place?
Careers: Government Economic and Evaluation Service, Central Bank, ECB, EU Commission, IMF, World Bank, EPA, Consultancy, Banking, Regulators (CER, ComReg), Media, Teaching, and more

7. Economics Skills?
Excellent mix of real world observation and abstract reasoning
Quantitative and qualitative skills
Different pathways (technical, policy, finance, development… )

8. Economics in TCD: How?
ESS/BESS (Business, Economics, Political Science, Sociology)
PPES (Economics, Philosophy, Political Science, Sociology)
Joint Honours – Geography, History, Mathematics, Philosophy, Sociology and Modern Languages (German & Spanish)

9. Economics in TCD: Points in 2018
BESS TR *
PPES TR
TSM TR001 Economics - 509* to 565
Geography, History, Philosophy, Sociology, Modern languages: 509
Mathematics: 565
Mathematics O4/H6/GCSE B

10. Economics in TCD: Why?
Commitment to providing a supportive and stimulating teaching environment for all students
Research-led education exposing students to leading academics, the latest knowledge and ideas with an emphasis on analytical skills and creative thinking
Research excellence on issues of global societal and economic importance in fields such as:
International Development International Macroeconomics
Energy Economics Economic history
Political Economy Urban Economics

11. Economics in TCD: Why? 4 years
Third year (half or full) opportunities abroad
International reputation
Staff background (Harvard, LSE, EUI, Oxford, Trinity)
Tutorial system
Tutor system
Student activities (Student Economic Review, Debates, Trinity Economic Forum)

12. Economics at TCD: What?
1st: Introduction to Economics, Mathematics and Statistics, Introduction to Economic Policy
2nd: Intermediate Economics, Economy of Ireland, Mathematics and Statistics
3rd: Economic Analysis, Money and Banking, European Economy, Economics of Less Developed Countries, Investment Analysis, Economics of Policy Issues, Industrial Economics, Mathematical Economics, Econometrics
4th: Economic Theory, World Economy, Development Economics, Economics of Financial Markets, Quantitative Methods, International Economics, Economic and Legal Aspects of Competition Policy, Applied Economics, History of Economic Thought and Ideology, Topics in Political Economy

13. Thank You