Note: For the session that starts in December 2014, you are welcome to join the course very late—right up to the last minute, as all deadlines are not until April 12, 2015.
This course offers an introduction to the functions of individual decision-makers—both consumers and producers—within the larger economic system. Emphasis is on the nature and functions of product markets, the theory of the firm under varying conditions of competition and monopoly, and the role of government in promoting efficiency in the economy.
Most people make the incorrect assumption that economics is ONLY the study of money. My primary goal in this course is to shatter this belief. During this course, we will be addressing the above questions as well as many more relating to:
love and marriage
My main goal is to show you the way economists think and how to use this analytical system to answer questions related not only to these and other important human issues, but to anything you end up doing with your life after this class. After all, as you will quickly find out, I believe that everything is economics!
This course will be broken up into 8 modules covering the following topics:
Module 1: Basic Concepts, Modeling, and Trade
Module 2: Supply and Demand
Module 3: Market Efficiency and Government Intervention
Module 4: Elasticity and Taxes
Module 5: Production and Costs
Module 6: Competitive Output
Module 7: Firms With Market Power
Module 8: Public Goods, Common Resources, and Externalities
MOOCs stand for Massive Open Online Courses. These arefree online courses from universities around the world (eg. StanfordHarvardMIT) offered to anyone with an internet connection.
How do I register?
To register for a course, click on "Go to Class" button on the course page. This will take you to the providers website where you can register for the course.
How do these MOOCs or free online courses work?
MOOCs are designed for an online audience, teaching primarily through short (5-20 min.) pre recorded video lectures, that you watch on weekly schedule when convenient for you. They also have student discussion forums, homework/assignments, and online quizzes or exams.
The videos tend to be under 10 minutes in length although some weeks there are quite a few videos. I like this style as well because each video can be focused on a specific topic or narrow range of topics. The biggest selling point for this course is when Prof. Vazquez goes out into the world and applies the concepts t
The videos tend to be under 10 minutes in length although some weeks there are quite a few videos. I like this style as well because each video can be focused on a specific topic or narrow range of topics. The biggest selling point for this course is when Prof. Vazquez goes out into the world and applies the concepts to real businesses. This includes a local farmer's market and a popular barbecue restaurant among others.
The quizzes themselves aren't extremely challenging but they are not trivial either. Some of the problems will require you to work out a problem but often they test your ability to recall concepts from the lecture. Since this is a principles course there isn't anything necessarily wrong with that and I believe that the applications section of the course makes up for it somewhat. There are also quite a few problems on some of the quizzes which I am a big fan of.
The one thing that I wish this course did was go into more depth with each topic.