Quantitative and model-based introduction to basic ideas in economics, and applications to a wide range of real world problems. This course provides a quantitative and model-based introduction to basic economic principles, and teaches how to apply them to make sense of a wide range of real world problems.
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Examples of applications include predicting the impact of technological changes in market prices, calculating the optimal gasoline tax, and measuring the value of new products. This is a real Caltech class. It will be taught concurrently to Caltech and on-line students. This has two implications. On the costs side: the class is challenging, makes extensive use of calculus, and will demand significant effort. On the benefit side: successful completion of the class will provide you with an in-depth understanding of basic economics, and will permanently change the way you see the world.
What you'll learn:
- Understand, apply, and analyze calculus-based economic models
- Translate economic principles to the investigation of a wide range of real world problems
- Elaborate on an in-depth understanding of basic economics and its applications
