|A. Pre-course materials|
|B. Fanelli’s background information|
|C. Info for prioritization and implementation|
This course investigates how digital transformation relates to current issues relating to democracy and governance in an increasingly connected yet polarised world.
There are widespread concerns that social and political divisions are being exacerbated by information technology, and that this is having a profound impact on the capabilities and quality of both global and local institutions. In a similar way to how the advent of the printing press prompted the rise of democracy and the nation state, perhaps digital transformation is contributing to a similar disruption in governance.
Such trends are particularly relevant in regimes where statehood was not an internal process, and was adopted either through colonial or international activity. Rising populism and authoritarianism provides the social and political backdrop to our analysis of the broad impact of technology, and we will consider whether pluralist approaches may help to combat some of the emerging threats to liberal democracy.
Mandatory pre-course readings
- von Neumann, J., “Can we survive technology” Science and Society
- Ostrom, E., “Beyond Markets and States: Polycentric Governance of Complex Economic Systems” Nobel Prize Lecture, December 8th 2009
- Mergel, I., Edelmann, N., and Haug, N., 2019, “Defining digital transformation: Results from expert interviews” Government Information Quarterly, Volume 36, Issue 4
- Study on the impact of digital transformation on democracy and good governance, European Committee on Democracy and Governance (CDDG), September 6th 2021
- Money and Payments: The U.S. Dollar in the Age of Digital Transformation, Federal Reserve, January 2022
For a 40 point quiz to test your knowledge of the pre-readings see here.
Group workbooks [download here]
Course introduction [lecture handouts]
- Addiction [lecture handouts]
- What next for Wordle and its fans?, by Jane Wakefield, BBC News, February 2nd 2022
- The Facebook data breach wasn’t a hack. It was a wake-up call, Aja Romano, Vox.com, May 2018
- Democracy [lecture handouts]
- The great British Brexit robbery: how our democracy was hijacked, Carole Cadwalladr, The Observer, May 17th 2017
- A Global Political Realignment? Cato Unbound, Steve Davies, December 10th 2018
- Days of rage, David Zhines, Status 451, January 20th 2017
- Ethics [lecture handouts]
- Beard, S., Deep ethics: the long-term quest to decide right from wrong, 18th June 2019
- Blackman, R., and Ammanath, B., Ethics and AI: 3 Conversations Companies Need to Have, Harvard Business Review, March 2022
- Governance [lecture handouts]
- The myth of panic, Tanner Green, July 15th 2021
- Why a little knowledge is a dangerous thing”, Tom Chivers, unherd, September 9th 2020
- Do you believe in sharing? Tim Harford, Financial Times, August 13th 2013
- Dorsch, M.J., Flachsland, C., 2017, “A Polycentric Approach to Global Climate Governance”, Global Environmental Politics, Vol. 17, No. 2.
- Central banks and digital transformation [lecture handouts]
Optional background preparation
To understand some of the context for my construction of this course I recommend:
- The Coming Storm, BBC Sounds (7 part podcast documentary on the rise of QAnon)
- Four Hours at the Capitol, BBC (a documentary about the storming of the US Capitol building on January 6th 2021)
- Things Fell Apart, BBC Sounds (a documentary that looks at the different origins of the culture wars, which are defined as “the battle for dominance over conflicting values”, or the things we shout about on social media)
- Command and Control, PBS (a documentary looking at how close we came to a major nuclear accident)
I also prepared for this course with the following:
- Death by Conspiracy, BBC Sounds (an 11 part podcast documentary on Gary Matthews, who died from covid in January 2021 having been drawn to social media claims that it was a hoax. I listened to this as a parallel to The Coming Storm but it strayed too far into covid, media ethics, and psychology for me to incorporate it more fully in this course, which attempts to avoid those areas. I didn’t learn much about conspiracy theories aside from episode 9 which provided a good attempt to understand why our common conception is often misplaced. Ultimately I just found this sad.)
Famous documentaries about Facebook include:
Here is the Brexit movie mentioned in class:
- Can Facebook Survive?, Seriously, August 13th 2019
- Group report [download here]
- Individual One Pager
- This should be based on an article that you think is relevant for this course and that I should add for next year
- Here are instructions on How to Write a One Pager
- Individual MCQ final exam
- This relates to all lecture content and the readings from the content section
Resources for the public sector
If you wish to work in the public sector I recommend the following resources:
- Machine learning: An introduction for public servants – a free online bootcamp
- Ethics, transparency and accountability framework for automated decision making – a 7 point framework to help UK government departments with the safe, sustainable and ethical use of automated or algorithmic decision-making systems
- Dunleavy, P., Margetts, H., Bastow, S., and Tinkler, J., 2006, New Public Management Is Dead—Long Live Digital-Era Governance Journal of Public Administration Research and Theory, Volume 16, Issue 3, Pages 467–494
- Clarke, Amanda, Digital Government Units: Origins, Orthodoxy and Critical Considerations for Public Management Theory and Practice
This course introduces students to several important and contemporary issues that relate to economics. Having already covered the key insights from Micro and Macroeconomics, this advanced course goes deeper into the frontiers of the discipline. Students will challenge their understanding of complex and controversial issues and develop their perspective on how to become managers of the future.
|1. Macro Trends||Lecture handouts|
|2. Macro Models||
|3. Money and central banking||
|4. Central banking and digital transformation||Lecture handouts|
|5. Prosperity||Pre class quiz
|6. Inequality||Pre class survey
and watch the full movie Parasite (2019), Bong Joon Ho
|7. Stagnation||Watch “Steve Jobs – iPhone Introduction in 2007”||Lecture handouts|
|8. Review||Submit review questions|
How can I improve my team effectiveness when facing complex business problems?
A 2-3 day course that leads participants through the 7 key stages of finding a solution using practical examples and plenty of team work.
Problem Solving and Decision Making is an intensive managerial programme that has been shown to be an enjoyable and successful way to improve team performance and productivity. The course provides practical skills and a management mindset rather than simply transfer knowledge. Participants are taken through the full problem-solving and decision-making cycle: from breaking down the issue, to prioritising and writing the action plan. They also practice communicating their proposal, an important and often overlooked aspect of the decision-making process. The course focuses mostly on experiential, proactive and practical learning: participants engage in individual and team problem-solving and decision-making, and receive constructive feedback to build on personal strengths and address limitations.
- Fanelli’s Pizza, July 2021
- An instructor pack containing the Handouts, Org Chart, Layout and Template spreadsheet is available on request. Download the Menu here.
- The Individual Notes
- The Group Worksheets // .pptx version
- Presentation Skills
- The Deck is programme dependent
For more on the Pyramid Principle:
- “The Pyramid Principle” by Ameet Ranadive, June 2013
- Minto, Barbara (2008) The Pyramid Principle: Logic in Writing and Thinking, FT Prentice Hall
For more content:
- Are You Trying to Solve the Wrong Problem? by Peter Bregman, Harvard Business Review, December 2015
How can I become more confident when faced with conditions of uncertainty? How can I contribute to an organisation that utilises effective heuristics?
This 1-2 day course provides a simple framework for how people make decisions. It shows how heuristics have the potential to enable effective judgments, but that they can also lead us to mistakes. It also provides a tool kit – the scenario method – to confront complex and uncertain situations. We will also understand what makes us us, and how this relates to personal and professional activities.
Case (must be read in advance)
- “Sun: A CEO’s Last Stand”, Business Week, July 26th 2004
- “Explained: Knightian uncertainty” by Peter Dizikes, MIT news office, June 2010
- Quassim Cassam’s review of Kay, J., & King, M., 2020 ‘Radical Uncertainty’
- “Can we measure uncertainty?” Kaleidic Economics, March 2013
- Evans, Anthony J.. “Projections Past and Future: Economic Imagination and the Financial Crisis 2007 – 2012.” Working Paper, Mercatus Center at George Mason University, August 2009.
And any 1 of the following articles:
- Wack, Pierre, 1985, “Scenarios: Uncharted Waters Ahead.” Harvard Business Review 63, 5: 73-89.
- Wilkinson, Laurence, 1995, “How to Build Scenarios” Wired Magazine
- Roxburgh, C., 2009, “The use and abuse of scenarios” McKinsey Quarterly
Part 1: Introduction
The course incorporates content from the following important books. Prior knowledge of these insights are valuable but not mandatory:
- Kay, J., & King, M., 2020, Radical Uncertainty, The Bridge Street Press (Chapter 1 serves as a useful reading on its own)
- Hanson, R., and Simler, K., 2018, The Elephant in the Brain, Oxford University Press
- Peters, S., 2012, The Chimp Paradox, Vermilion
- Kahneman, D., 2011, Thinking, Fast and Slow, Penguin
- ‘The Road to the Iraq War‘, Slowburn Season 5
Course outline: Economics for Managers (MIM) 2019/20
- Evans, Anthony J., 2014, “Markets for Managers: A Managerial Economics Primer“, (Wiley Finance)
- I also recommend the following :
Problem set: download here.
1. Consumer behaviour and basic review
1b. Course Introduction & Administration
2. Cost functions and price discovery
2b. Comparative Statics +
3. Asymmetric information
3a. Adverse selection +
Akerlof, G.A., (1970) “The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism”. Quarterly Journal of Economics 84(3):488–500 (£)
4. Strategic behaviour
4b. Oligopolistic competition +
5. REVIEW SESSION ON MICRO PROBLEM SET
6. National income accounting
7. Monetary policy
8. Fiscal policy
9. International economics
9a. Foreign exchange +
Evans, A.J., “Josko Joras (A)”, December 2012
Instructions: Complete questions 1, 2 and 3
9b. Dynamic AD-AS recap +
10. REVIEW SESSION ON MACRO PROBLEM SET
Sessions marked with an asterix (*) have a lecture handout available in advance.
Readings marked with a (£) sign means that you may need library access.
A + sign provides a link to a page of additional resources.
- Evans, Anthony J., 2020 “Economics: A complete guide for business“, London Publishing Partnership
1. Principles of demand and supply
1a. Value creation*
1b. Cost curves*
Evans, A.J., “La Marmotte”, January 2012
Instructions: Complete Exhibit 1 and provide suggestions for the two key decisions
2. Markets and prices
Hild, M., Dwidevy, A., and Raj, A., (2004) “The Biggest Auction Ever: 3G Licensing in Western Europe”, Darden Business Publishing (£)
Discussion question: What are the alternatives to auctions?
2b. Equilibrium assignment
3. Industry and supply decisions
3a. Economies of scale
Rivkin, J.W., “Dogfight over Europe: Ryanair (A)” Harvard Business School case no. 9-700-115, November 21st 2007 (£)
Discussion question: What are some sources of economies of scale? How do they apply to British Airways in 1986?
3b. CC Simulation
CC Simulation, February 2014
Discussion question: Is the market for airport services in the UK competitive?
4. Price discrimination
4a. Read through the following Twitter thread: https://twitter.com/anthonyjevans/status/993918866186297349
Choose one of the tweets and use it as the basis to apply some microeconomic theory. Make assumptions and perform calculations where necessary.
5. Corporate Applications
5a. Prediction markets
Coles, Peter, Lakhani, Karim and McAfee, Andrew, “Prediction Markets at Google” Harvard Business School Case No. 9-607-088, August 20, 2007
5b. Corporate entrepreneurship
Weston, Hilary A., “Automation Consulting Services”, Harvard Business School Case No. 9-190-053, November 2000
Sessions marked with an asterix (*) have a lecture handout available in advance, which can be downloaded.
This course provides a thorough and contextual perspective on various forms of macroeconomic policymaking. In addition to looking at how monetary and fiscal policy can be used to manage the domestic economy, we will take an international approach to various forms of economic crisis. By the end of this course students will be able to critically engage with some of the key indicators that may help to predict a currency crisis, and relate this to famous historic cases. We will look at the role played by international institutions during sovereign debt crises, and gain experience at identifying, summarising, and communicating relevant data.
- Evans, Anthony J., 2020 “Economics: A complete guide for business“, London Publishing Partnership
|Pre class activities|
|Before the course begins you should watch this video pass this quiz.|
|Day 1: Macro policy decisions|
|1. Monetary policy (+)
2. Fiscal policy (+)
|Day 2: Countries in crisis|
|3. International economics (+)
4. Currency crises (+)
5. Debt crises (+)
6. Macro Policy Workshop (+)
|Day 3: Applications|
Feedback and summary
How can I use data to understand my organisations situation and performance?
From 2006 – 2010 I taught a Quantitative Methods course at ESCP Europe. I enjoyed it immensely and got great feedback from students. Since then I’ve continued to gather material but realise that no-one gets to see it. So I’ve created an online course.
The course should be of use to anyone with an interest in an MBA level education, and I have attempted to supplement my own presentations with links to some exceptional online resources.
The rest of this page contains some further resources and links.
- Davenport, Thomas H., “Competing on Analytics“, Harvard Business Review, Jan 1st 2006
- If you want to start at the very beginning then take my Numeracy Skills Bootcamp, which covers Fundamentals of Mathematics, some Practice Tests, and a discussion of Gender Differences & Mathematics. I also suggest my content on Collecting and Presenting Data.
I hope you find the online course useful, but I am also a fan of the old fashioned way. The course ties in to the following textbook:
- Curwin, J, and Slater, R., 2013, Quantitative Methods for Business Decisions, Cengage Learning, 7th Edition (££)
It is a very good one: well written, full of examples, and plenty of opportunities to test yourself. You could do a lot worse than simply order it now and then work your way through it.
I’m also intrigued by “Calculus Made Easy“, by Silvanus Thompson. It’s antiquated in format but highly directed toward simplifying concepts and engaging with the reader.
I believe that a good way to prepare for a subject is to read a book that is captivating. Something that stimulates your interest and encourages you to dig deeper. There are lots of bestsellers that have attempted to communicate mathematical ideas to the educated layperson. My favourite 6 are these:
- Mlodinow, L., 2008, The Drunkard’s Walk: How Randomness Rules Our Lives, Pantheon (£)
- Taleb, N.N., 2001, Fooled by Randomness, Random House (£)
- Bodanis, D., 2001, E=MC^2, Pan Books (£)
- Sing, S., 1997, Fermat’s Last Theorem, Fourth Estate (£)
- Bernstein, P., 1998, Against the Gods, Wiley (£)
- Wheelan, C., 2013, Naked Statistics, Norton (actually, I’ve not read this one yet, but I’ve heard it’s good) (£)
Other online courses
The University of Bristol Medical school has a lovely Research Methods & Statistics online course. Introductory Statistics, an online course by Andy Field. It is full of some excellent tutorials that are presented with a unique style. The New York Times have made their course on data skills publicly available, there’s a link here. A thorough course designed for incoming PhD students is the Princeton Sociology Summer Methods Camp 2019.
I also love this course: Calling Bullshit in the Age of Big Data.
There are also lots of proper online courses to choose from. The only one I have direct experience of is this:
If you really need to develop your QM skills then I would recommend you follow the HBS one instead of mine. However I found it pretty dull and failed to complete it. I’m hoping that by providing a mixture of content you will find mine more enjoyable.
Examples of bitemporal charts (especially good on economic forecasts)
Software and misc.
Daniel Kunin has a wonderful website called “Seeing Theory“, which allows users to visualise basic concepts in statistics. I’ve integrated links into the course below.
I believe that the best way to internalise the key concepts in this course is to conduct a replication exercise. These have become increasingly common as ways to apply the concepts covered, and test a students knowledge retention. To be honest though I am yet to find any really good examples of statistical tests that companies have utilised, and for which the underlying data set is available.
In their textbook, “Modern Principles: Macroeconomics”, Tyler Cowen and Alex Tabarrok present a good exercise to replicate a Solow Model. My (flawed) attempt to combine two of their problem sets is here:
- Solow 1502.pdf (email me for discussion)
Whilst I continue to look for potential replications, one option is to focus on some controversial statistical debates. These are also good ways to go deeper into the theory, and fully appreciate the link between theory and practice.
- Crime and abortion
- “Crossing continents” BBC Radio 4, December 21st 2006
- Freakonomics video
- Donohue, J.J., and Levitt, S., (2001) “The Impact of Legalised Abortion on Crime”. Quarterly Journal of Economics, Vol. CXVI, Issue 2., pp.379-420
- “Oops-onomics” The Economist, December 1st 2005
- Foote, C.L., and Goetz, C.F., “Testing Economic Hypotheses with State-Level Data: A comment on Donohue and Levitt (2001)”. Federal Reserve Bank of Boston working paper. November 2005
- Levitt, S., “Abortion and crime: who should you believe?” Freakonomics Blog, 15th May 2005
- Sudden Infant Death syndrome
- Breast cancer
- “Dodgy numbers“, The Remittance Man, April 14th 2014
- Sovereign debt crises
- “The 90% Question” The Economist, April 20th 2013
- Other links
You should now be a savvy consumer of statistical analysis and passionate about good data management. I recommend that you treat yourself to the following tome:
- Gleick, J., 2012 , The Information, Fourth Estate (£)
Thank you for visiting.
Last updated: June 2019
Course handouts: download here.
1. Value Creation* +
Textbook reading: Chapter 1
2. Understanding cost* +
Textbook reading: Chapter 2
3. Auctions +
Hild, M., Dwidevy, A., and Raj, A., “The Biggest Auction Ever: 3G Licensing in Western Europe”, Darden Business Publishing, 2004 (£)
Discussion question: What are the alternatives to auctions?
Extra activity: The Dutch flower auction
Textbook reading: Chapter 3
4. Adverse Selection +
5. Prediction markets +
Coles, Peter, Lakhani, Karim and McAfee, Andrew, “Prediction Markets at Google” Harvard Business School 9-607-088, August 20th 2007 (£)
Prediction Markets, February 2016
Textbook reading: Chapter 4
6 & 7. Monetary policy* +
8. Fiscal policy* +
Textbook reading: Chapter 9
9. Macro Policy Workshop +
Extra activity: Choose your own financial crisis
10. Behavioural economics* +
“Sun: A CEO’s Last Stand”, Business Week, July 26th 2004 (£)
Textbook reading: Chapter 10
Day 3 & Day 4 See Business Ethics.
Note: Sessions marked with an asterix (*) have a lecture handout available in advance, which can be downloaded. Cases marked with a pound sign (£) are available through the Programme Office. Follow the + links for additional resources.