About the content
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. 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.
- 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
Good understanding of basic (univariate) calculus.
Bing Professor of Neuroscience, Behavioral Biology and Economics
California Institute of Technology
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