"Price discrimination can never be in the
consumer's interest" - a Discussion with Examples
Written in 'Advanced Microeconomics' (EC3001; 1. Semester 2001/2002); mark: 16 (compared to Hamburg: 1,7);
Comments: Should have concentrated more on cases where price discrimination can be
in consumer's interest. Section 3.1 (for example) shows case where price discrimination
is detrimental to consumers.
Does the phenomenon of "exchange rate overshooting" imply that a fixed
exchange rate regime is inherently more stable than a floating exchange rate regime?
Written in 'Money and Macro' (EC3002; 2. Semester 2001/2002); mark: 18 (compared to Hamburg: 1,3);
Comments: no comment.
The significance of Ricardo's contribution
to the classical model. In particular, the notions of Ricardian rent and Ricardo's
development of the theory of value.
Written in 'Classical and Neoclassical Economic Thought' (EC3009; 1. Semester
2001/2002); mark: 14 (compared to Hamburg: 2,3);
Comments: An essay topic that is testing the writer's
ability to digest and restate the most technical of the classical writers. Value
theory discussion was very slight in comparison to rent discussion. For example, it
misses discussion of Ricardo's own dissatisfaction (except for a few words) with
the technical difficulties he himself caused as he pushed labour theory of value to
a limit. What about the different types of capital, which were mentioned, but need
to be expanded.
A Careful Explanation of the Differences
Between the Basic Macro Models Used by the Following: 'Classical' Economists as
identified by Keynes, the Neoclassical Economists Who Debated With Keynes's
Followers in the 1940s and 1950s, and the Keynesian Economists of the 1950s
and 1960s
Written in 'Modern Economic Thought' (EC3010; 1. Semester 2001/2002); mark: 13 (compared to Hamburg: 2,3);
Comments: Discussion of neoclassical view of adjustment of aggregate demand in IS-LM
framework, and discussion of Keynes IS-LM model are missing.
Gross National Product vs. Sustainable
Measurement
Written in 'Environmental Economics' (EC3105; 1. Semester 2001/2002); mark: 16 (compared to Hamburg: 1,7);
Comments: Missing is: Theoretical foundations of GNP (Weitzman), more discussions
of substitution assumptions and problems, and inclusion of survey results on
happiness.
In what sense is there a pensions "time bomb"? In the light of the
answer, how best might the problem be addressed?
Written in 'Public Finance' (EC3112; 2. Semester 2001/2002); mark: 19 (compared to Hamburg: 1,0);
Comments: This essay has all of the relevant elements in it. There is nothing obviously missing.
This is a very polished piece of work. The structure is excellent and it is both very well
researched and well written. There are very few points where the argument is not clear.
Evaluate the success of UK monetary policy under (a) the "new monetary
framework" from 1993 to May 1997, and (b) the period of Bank of England interest rate control
since May 1997.
Written in 'Monetary Policy' (EC3124; 2. Semester 2001/2002); mark: 17 (compared to Hamburg: 1,7);
Comments: You could have done a bit more on credibility, by looking more systematically at
inflation expectations and at long-term interest differentials. Good.
"Research Joint Ventures are valuable only
to their members and not to society as a whole." - a Discussion.
Written in 'Economics of Innovation' (EC3125; 1. Semester 2001/2002); mark: 17 (compared to Hamburg: 1,7);
Comments: Excellent Essay but some of the technical material could have been
referred to rather than be reproduced.
What influence has game theory had on the reformulation of key concepts in industrial
organisation? An Illustration by reference to theories of oligopoly.
Written in 'Topics in Economic Theory I: Microeconomics' (EC4306; 1. Semester 2002/2003); mark: 14 (compared to Hamburg: 2,3);
Comments: A broader range of economic games is missing. The interpretation of industiral organisations
is rather narrowly in terms of classical oligopoly models. Industrial analyses is more than this as Shy
illustrates.
The Diamond Model. How does this Overlapping Generations Model explain the basic
questions about growth?
Written in 'Topics in Economic Theory II' (EC4307; 2. Semester 2002/2003); mark: 19 (compared to Hamburg: 1,0);
Comments: The essay is well structured.
Unemployment in the EU
Written in 'Contemporary Issues' (EC4308; 2. Semester 2002/2003); mark: 20 (compared to Hamburg: 1,0); The
task was to discuss the following quote of Romano Prodi, President of the European Commission. This quote is
taken from his speech on "Investment in knowledge - the way forward" at the European Parliament - Plenary
session - 14/01/2003. "Without computers in our schools, without first-rate, life-long education and training
to give us a skilled, flexible workforce and keep older workers in the labour market (...), none of our
targets [of the Lisbon strategy] are achievable."
Comments: -.
The Roles of 'Adverse Selection' and 'Moral Hazard' in Theories of Credit Rationing.
With a Variant of C. Wilson's Model of 'Adverse Selection' in the Credit Market.
Written in 'Financial Intermediation and Financial Systems' (EC4406; 1. Semester 2002/2003); mark: 18 (compared to Hamburg: 1,3);
Comments: A discussion of the empirical evidence on the existence of credit rationing is missing.
The Impact of Information Technology on the Growth of Cities. A Discussion with
Reference to the Possible Spatial Development in Germany.
Written in 'Urban Economics' (EC4421; 2. Semester 2002/2003); mark: 19 (compared to Hamburg: 1,0);
Comments: Excellent introduction, well balanced and going a good hope for the rest (section 3 awards). In
proportional terms it is perhaps a bit long. The discussion of the German urban system is balanced and
well-developed. Perhaps a bit remote in relation to IT? Zipf's law usually is formulated as Pr=F(Rank).
Excellent use of supplementary material: well referenced, well researched, well done.
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