Recommended texts for Economics modules

2016-17 version
We advise against purchasing textbooks until the start of term, as we are
acquiring a number of free E-books for certain modules, and book bundle deals
to lessen the cost for students.

We appreciate that many of you wish to get a head start on your reading prior
to the start of term. The Sussex Campus Library is open if you wish to hire out
textbooks, once you receive your Sussex Student ID Library card.

We also recommend attending the Library Induction sessions during Welcome

Week as you will learn how to navigate the Sussex Library

Year 1

Introduction to Economics

- Custom Edition (2014) of Begg, D., Fischer, S., Dornbusch, R and Vernasca, G. (2011),
Economics, 10th Edition, McGraw-Hill.

If you have a good background in A-level economics (or equivalent), then you may prefer:

- Lipsey, R. and Chrystal, K.A. (2004), Principles of Economics, Tenth Edition, Oxford
University Press.

Contemporary Economic Issues

Introduction to Mathematics for Finance and Economics

For those who have A-level Maths or equivalent:

- Renshaw, Geoff (2012), Maths for Economics, 3/e, Oxford University Press.

For those without A-level Maths or who are less confident with the subject:

- Jacques, Ian (2012), Mathematics for Economics and Business. Addison-Wesley (7/e).

Microeconomics 1

- Perloff, J. (2013) Microeconomics with Calculus, 3rd edition (Pearson/Addison-Wesley).

This has comprehensive web materials, interactive exercises etc, which are only accessible to
people who buy the book or buy an access code. Each copy of the book comes with an
electronic access pack so you are strongly recommended to register on the myeconlab
website: www.myeconlab.com
 The following are good alternatives:

- Varian, Hal R (2006), Intermediate Microeconomics A Modern Approach. Seventh

edition. Norton. This book is slightly more technical

- Perloff, J. (2015), Microeconomics. Seventh edition. Pearson Addison Wesley. The only
difference between this book and the recommended textbook is that less emphasis is
placed on maths. Students with serious allergic reactions to formulas should use it.

Macroeconomics 1

- Burda, Michael and Charles Wyplosz (2013) Macroeconomics: A European Text, 6th
edition, Oxford: Oxford University Press.

(Please note: John Smith's bookshop on campus is offering a student deal for this book if
bought together with the core text used in Microeconomics 1).

Macroeconomics 1 will cover chapters 1 to 6 in Burda and Wyplosz. Other chapters will be
covered in Macroeconomics 2 (Autumn Term, year 2).

Introduction to Statistics

- Barrow, M. (2013), Statistics for Economics, Accounting and Business Studies, 6th
edition, Prentice Hall.

Year 2

Macroeconomics 2

- Burda, M. and Wyplosz, C. (2013) Macroeconomics: A European Text, Sixth Edition,

Oxford University Press

There are a significant number of changes in the sixth edition relative to the fifth, so the
purchase of past editions is not advised.

Additional readings will be provided on Study Direct as the course progresses

Microeconomics 2

- Perloff J. (2013) Microeconomics with Calculus 3rd ed (Pearson/Addison Wesley), as for

Microeconomics 1

Some additional supplementary, mostly available on the internet, will be suggested as we go

along, and will be on the Study Direct website.

Introduction to Econometrics

- Wooldridge, J.M, Introductory Econometrics: A Modern Approach, 5th ed. Thomson

South Western.

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 Or

- C. Dougherty, Introduction to Econometrics, 4th edition (Oxford University Press)

Applied Maths for Economists

Comprehensive lecture notes are on SyD but the following text may also be useful:

- Sydsaeter, K et al. (2008), Further Mathematics for Economic Analysis. FT Prentice Hall.

Advanced Macroeconomics

- Burda, M. and Wyplosz, C. (2013) Macroeconomics: A European Text, Sixth Edition,

Oxford University Press
- Olivier Blanchard, Francesco Giavazzi and Alessia Amighini, Macroeconomics: A
European Perspective (2nd edition, referred to below as BGA).

Advanced Microeconomics

- Varian, Hal R., Intermediate Microeconomics: A modern Approach, 9th, 8th or 7th edition,
W. W. Norton & Company (henceforth referred to as VRN)

Also good for some topics (though limited in scope for others) are:

- Perloff, Jeffrey M., Microeconomics with Calculus, 3rd, 2nd or 1st edition, Pearson. (PRLF)

- Estrin, Saul, David Laidler, and Michael Dietrich, Microeconomics, 5th edition or earlier,
Pearson (henceforth referred to as ELD)

PRLF and ELD are somewhat less technical than VRN. Should you decide to purchase a
textbook, then you are advised to go for VRN.

In addition to the core textbooks, we will occasionally dip into other relevant books and
journal articles. For the components relating to international trade, the following textbook
will be used:

- Krugman, Paul R., Maurice Obstfeld, and Marc Melitz, International Economics: Theory
and Policy, 9th edition (or other edition), Pearson (henceforth referred to as KO)

Applied Economics Topics

TBA

The World Economy

Preliminary reading:

- David S. Landes (2006) Why Europe and the West? Why Not China? Journal of
Economic Perspectives, Volume 20, Number 2, Spring 2006, Pages 322

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 No single set text but the following will be useful:

- Begg, D. S. Fischer and R. Dornbusch, (2011) Economics, 10th edn, McGraw-Hill, HN

100 FIS (referred to below as BFD). Good background economics in case you are rusty.

- Berend, Ivan, An Economic History of Twentieth Century Europe, Cambridge University

Press, 2006. Elementary background

- Rondo Cameron and Larry Neal, A Concise Economic History of the World From
Palaeolithic Times to the Present, 4th edition, Oxford University Press, 2002. HP 000
Cam. Elementary background

- Nicholas Crafts and Gianni Toniolo, Economic Growth in Europe since 1945, Cambridge
University Press, April 1996 HQ 33500 (Eco). Good, but now dated in temporal
coverage, background on economic growth.

- Peter Gourevitch, Politics in Hard Times: Comparative Responses to International

Economic Crises (Ithaca: Cornell University Press,1986) HY 11210 Gou

- Randy Charles Epping, A Beginners Guide to the World Economy 3rd edition (New
York: Vintage Books, 2001) HZ 13000 EPP. Elementary background

- Eichengreen, Barry (2007) The European Economy Since 1945, Princeton University
Press HQ 150 (EIC). A conventional economic history, very good on 1945-73, plenty of
macroeconomics and policy

Applied Statistics for Finance and Economics

- P.Newbold (Fourth Edition), Statistics for Business and Economics, 8th Edition (Prentice
Hall International Editions).

Europe in the International Economic Order

There is no textbook for a course such as this, but there are many books on the international
trade system and websites, especially:

- www.voxeu.org
- http://ec.europa.eu/trade/

- Bernard Hoekman, Petros C. Mavroidis: The World Trade Organization: Law,

Economics, and Politics (Global Institutions), 2007, Routledge.

The international financial system moves so fast that any books not purely of a historical
nature become fast out of date, so we must rely on electronic sources. Here is an excellent up
to date downloadable one with short chapters:

- Rebalancing the Global economy: A Primer for Policymaking, eds. Stijn Claessens,
Simon J Evenett, Bernard Hoekman 23 June 2010.
http://www.voxeu.org/index.php?q=node/5219

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 A good book to read as stimulating background reading is:

- Paul Krugmans Pop Internationalism, MIT, 1996, written by one of the worlds best-
known economists for a non-specialist audience.

Finance for Development

No single text book but useful websites are:

- UNDESA, Financing for Development, available at: http://www.un.org/esa/ffd/

- World Bank, Financial and Private Sector Development, available at:

http://web.worldbank.org/WBSITE/EXTERNAL/TOPICS/EXTFINANCIALSECTOR/0,,
menuPK:282892~pagePK:149018~piPK:149093~theSitePK:282885,00.html

- OECD, Development Co-operation Directorate, available at: http://www.oecd.org/dac/

- CGAP, Consultative Group to Assist the Poor. Digital Financial Services:

http://www.cgap.org/topics/digital-financial-services

- Financial Inclusion: http://www.cgap.org/

- World Economic Forum, E15 Initiative, available at:

http://www.weforum.org/reports/the-e15-initiative-strengthening-the-global-trade-and-
investment-system-in-the-21st-century

- IMF Finance & Development, Quarterly Magazine, available at:

http://www.imf.org/external/pubs/ft/fandd/2015/12/index.htm

Year 3

Statistics for Economists

- Barrow, M. (2013), Statistics for Economics, Accounting and Business Studies, 6th
edition, Prentice Hall.

Further Statistics

- M W Mendenhall, D Wackerly and R Scheaffer, Mathematical Statistics with

Applications, 7/e, PWS-Kent.

If you are looking to brush up on material you covered in your previous statistics module, a
practical text is:

- T.H.Wonnacott and R.J.Wonnacott, Introductory Statistics for Business and Economics,

John Wiley.

This is at a more basic level but covers most of the course material. There are lots of second-
hand copies of this book on Amazon.

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Understanding Global Markets

No single text book. Relevant articles available via SyD

European Economic Integration

- R Baldwin & C Wyplosz, Economics of European Integration, 5th ed

Financial Economics

Required textbook:
- Bodie, Zvi, Alex Kane, and Alan Marcus, Investments, Irwin McGraw-Hill, 10th Edition,
2014.

Optional textbook (for the portion on corporate finance):

- Brealey, Richard A., Stewart C. Myers and Franklin Allen, Principles of Corporates
Finance, Irwin McGraw-Hill, 9h Edition, 2008.

In addition, the following books are recommended for side reading. The first two are semi-
academic but very lucid and accessible texts. The last three are bestseller accounts of major
financial crises, penned in thoroughly enjoyable story telling style:

- Siegel, Jeremy, Stocks for the Long Run, McGraw Hill, 5th ed., 2014.

- Malkiel Burton, A Random Walk Down Wall Street, W.W. Norton, 10th ed., 2012.

- Lewis, Michael, The Big Short, Penguin, 2011.

- Sorkin, Andrew Ross, Too Big to Fail: Inside the Battle to Save Wall Street, Penguin,
2010.

- Lowenstein, Roger, When Genius Failed: The Rise and Fall of Long Term Capital
Management, Fourth Estate, 2002.

Labour Economics

- Borjas, G.J., Labor Economics. (London: Irwin/McGraw-Hill).

Another useful textbook is:

- Ehrenberg, R.G. and R.S. Smith, Modern Labor Economics: Theory and Public Policy.
(Reading, Mass.: Addison-Wesley).

Environmental Economics

- R. Perman, Y. Ma, M. Common, D. Maddison and J. McGilvray (2011): Natural

Resource and Environmental Economics (4th edition), Pearson Education Ltd, Edinburgh.

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Monetary Theory and Policy

No one recommended text book but the following may all prove useful:

- M.Burda/C.Wyplosz (2013), Macroeconomics: a European Text: 6th edition

- N.G.Mankiw (2010), Macroeconomics, 7th edition.

- O.Blanchard, A. Amighini and F. Giavazzi (2010), Macroeconomics: a European

perspective, Prentice Hall.

If you want something interesting to do before term, read the brilliant book by Anat Admati
and Martin Hellwig 'The bankers' new clothes', ebook available online via the library
catalogue

Public Economics

- Jonathan Gruber (2013 4th Ed.). Public Finance and Public Policy. Worth Publishers.

You will note that this book is fairly United States centered, which is why we will
complement the textbook with some selected readings from the following three books:

- Howard Glennester (2003 2nd Ed.). Understanding the Finance of Welfare: What
welfare costs and how to pay for it. The Policy Press.

- Nicholas Barr (2012, 5th Ed.). Economics of the Welfare State. Oxford University Press.

- Jean Hindriks and Gareth D. Myles (2006). Intermediate Public Economics. MIT Press.

These books are available at the library. In addition, to complement the public finance
centered textbook, well also use readings from the following political economy / public
choice centered book:

- Kenneth A. Shepsle. Analyzing Politics: Rationality, Behavior and Institutions. W. W.

Norton & Company

Statistics for Economists Project

No set text

Applied Economics Dissertation

No set text

Applied Econometrics

The main text book for this course is:

- J.M.Wooldridge, Introductory Econometrics: A Modern Approach, Fourth Edition

(International Student Edition).

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International Trade

There are a number of good textbooks covering international trade. The textbook I
recommend for this course is:

- Feenstra, R & Taylor, A, International Trade, 3rd ed., Worth-Macmillan, (2014).

Henceforth.

Other good textbooks which you might also want to look at are, given below. It is strongly
recommended that you purchase one of the books, and the library should have multiple
copies.

- Paul R. Krugman and Maurice Obstfield, International Economics: Theory and Policy,
ninth (or 10th) edition. Addison-Wesley and Pearson Education. This is a popular textbook
but not very concise.

- James R. Markusen, James R. Melvin, William H. Kaempfer and Keith E. Maskus (1995),
International Trade: Theory and Evidence. McGraw Hill.

- L. Alan Winters (1991), International Economics. 4th Edition. Routledge. Though

somewhat out of date, the core theory is very well covered and is extremely concise.
Some students like that, some find it harder to read.

Development Economics

No set text

Climate Change Economics

Lectures will closely follow the textbook:

- R. Tol, Climate Economics: Economic Analysis of Climate, Climate Change, and Climate
Policy.

Global Economic History

No set text, see SyD

Behavioural Economics

- Angner, E (2016) A Course in Behavioral Economics, 2nd ed. Palgrave Macmillan