Economics 271
The British Economy:  Structures and Policies
Fall 2007

Instructor:            Jean Shackelford
Required Texts:

August 20 - 22-- Sawyer - Introduction to the UK Economy and Current Economic Conditions

August 27- – Sawyer:  Chapter 1 – The UK Economy in Context

August 29 -- Sawyer:  Chapter 2 – The Structure of the Economy

Sept. 3-- Sawyer:  Chapter 4 --Fiscal Policy and the Budget

Sept. 5 – Sawyer: Chapter 4 continued

Sept. 10 – Sawyer:  Chapter 3 – The UK and the European Union

Sept. 12— Sawyer Chapter 3 Continued & Reports on "The EU at 50"

Sept . 17—Scotland’s economy – (Devolution and elections)

Sept. 19 – To Edinburgh - While we are on the road duringthe program excursionto Scotland, please continue reading the newspaper and clipping or taking notes about economic events in the UK—or economic events that are of concern to the UK.  This is a good time to organize and catch-up on this project.

From your clipping project, produce a “Headline News” report.  This may be done on you own or in collaboration with others in the class.  (Note your contributions with your initials.)  Include the headlines that you find interesting or important to discussions of the UK economy and a brief 2-3 sentence “story.” 

Sept. 24—Sawyer: Chapter 7--Balance of Payments and International Trade

Sept. 26— Continue Chapter 7 - Exam Overview

October 1— Examination –Sawyer Chapters 1,2,3, 4 and 7
                       Includes class discussion and projects, handouts and outside reading assignments

October 3—To Paris and Fall Break

October 15— Britain the EU and the World Economy - Updates and Reports from the field

October 17  -- Sawyer: Chapter 5--Public Expenditure

October 22 – Guest Lecturer – Rima Horton “Health and Education Policies”

October 24 – Sawyer:  Chapter 6--Money, Finance and Monetary Policy

October 31—Visit to Bank of England

I.  Bank of England-Directions -Wednesday October 31st, Meet at the Bank of England’s Bartholomew Lane Entrance
(exit at Bank Street tube station—Central Line from Totenham Court—follow map.)
After our scheduled talk by a Bank staff member, you are expected to tour the Bank of England Museum on your own. The Museum  takes about 45 minutes to tour.  If you don’t tour it on the 31styou will need to return at another time.

II.  Bank of England Assignment
During your visit to the Bank of England you will visit the museum and hear a presentation about the Bank.   If there is an opportunity, you will probably want to raise questions that you might have about the operation and function and policy making of the Bank.  Remember the Bank of England functions like the Fed in the US—so be equally impressed!  You might ask questions about the current role of the Bank, current policy, about aspects of its history, about decision making and the interaction with the treasury.

After your visit to the Bank and the Museum, draft a 2-page essay on some aspect of the Bank that interests you.  This may include policy, intergovernmental relations or UK money.  If you can’t think of a topic, please write your essay on the Bank’s development from a commercial bank to the central bank of the UK.  Use information from the presentation and the museum in your essay for examples and explanations

November 5  -- Financial Services Authority

November 7 – Sawyer Chapter 8 - Industrial Structure

November 12 – Sawyer, Chapter 8 Continued, Begin Chapter 9 –Mainly Regulation

November 14 – Sawyer: Chapter 9 Continued  e

Noverber 19 - Soverign Funds

November 21 – LEHMAN BROTHERS - 2:30 - 25 Bank Street

November 22 -(Thanksgiving)

November 26  -Chapter 10 Employment and Unemployment

November 28 – Sawyer: Chatper 12 Environmental and Transport Policy

The following three web sites refer to government agencies and departments concerned with environmental issues

Two international agencies concerned with environment policies are:

And two non-governmental organisations:


December 5 –  Final Examination