Lecturer: Dr Prodromos Vlamis
Prodromos Vlamis (Ph.D Finance Cambridge-UK (defence Dec. 2004), M.Phil Land Econ. Cambridge-UK 2000, M.Sc Econ. York-UK 1996, B.A Econ. Athens-Greece 1995)) is the Harold Pollman (Post-Doctoral) Research Fellow in Real Estate Finance and Economics at Harvard University, USA, for 2004-2005. He is also Fellow of the Cambridge European Society, Affiliate of the Centre for Economics & Policy of
the Institute for Manufacturing, University of Cambridge and member of the Economic Chamber of Greece.
Previously, he worked as a Teaching Assistant at the Athens University of Economics and Business in the undergraduate and postgraduate programs (1996-1999) and the University of Cambridge (2000-2002). He also served as a Temporary Lecturer in Finance at the Department of Land Economy of the University of Cambridge (2002-2003). Since 2002 he has been working as a Lecturer in Economics for the International Programmes Department of the Pembroke College, University of Cambridge.
His research throughout the years has been sponsored by a number of companies and institutions; the Harold Samuel Fund, the Cambridge European Trust, the Cambridge Political Economy Society Trust, the British Foreign Office, the PriceWatehouseCoopers, the Quatercentenary Fund of the Emmanuel College, University of Cambridge and the Harold Pollman Fund.
His research interests include Credit Risk Analysis, Property Finance and Applied Econometrics
The aim of the course is to prepare students for first year undergraduate degree schemes in particular for economics, Business Economics and Financial Management. In Economics, this means introducing students to some of the basic principles and tools of economic analysis, as detailed on the syllabus (see below). It should be emphasized however, that particular importance is attached to the development of intuitive reasoning and the application of the techniques and models encountered. No prior knowledge of economics is required.
Teaching is by means of lectures plus tutorial classes for the period of the course. The lectures aim to present the material, while the tutorials aim to solve problems and discuss the material presented in the lectures. Problem exercises and topics to be discussed will be distributed throughout the course. These do not form part of the course assessment, but students are required to work through these for their better understanding of the topics covered.
Performance Evaluation
Final Exam on essay type questions: 70%
Seminar discussion and lecture participation: 30%
Syllabus
2) Unemployment Problem
a) Types of unemployment
b) Costs of unemployment
3) Inflation, Expectations and Credibility
a) Causes of inflation
b) Ways to combat inflation
4) The financial environment: financial markets overview
a) Stock Exchange Market
b) Fixed Income Market
5) European Union
a) The evolution of integration: from the EEC to the EU
b) The European Union legislative and executive institutions
Seminar Essay Titles
“The persistently high rates of unemployment in many European countries during the 1990s are hard to reconcile with the notion of a unique rate of unemployment.” Discuss this statement with special reference to the causes and possible cures of the unemployment problem in Europe.
M.Artis (1998), “The Unemployment Problem”, Oxford Review of Economic Policy, vol.14, no 3
Discuss the following statement: “The stock market: a quick way to riches”.
Present and critically discuss the UK Financial system.
Main Text
1) D.Begg, S. Fischer and R. Dornbusch (2003), “Economics” 7th ed. McGraw-Hill.
Additional Reading
2) Brealey R and S. Myers (2003), Principles of Corporate Finance, McGraw-Hill International Book Company, 7th edition.
3) Hitiris T. (2003), European Union Economics, 5th ed. Pearson Education.
4) Griffiths, A. and S. Wall (1997), Applied Economics, 7/e, 1997, Longman.
5) Lipsey, R.G. and K. Chrystal (1995), Positive Economics, 8/e, Oxford University Press.