Courses tagged with "Taking derivatives" (363)

Economics is traditionally divided into two parts: microeconomics and macroeconomics. The main purpose of this course is to introduce you to the principles of macroeconomics. Macroeconomics is the study of how a country’s economy works while trying to discern among good, better, and best choices for improving and/or maintaining a nation’s standard of living and level of economic and societal well-being. Historical and contemporary perspectives on the roles and policies of government are part of the mix of interpretations and alternatives that surround questions of who or what gains and loses the most or least within a relatively small set of key interdependent players. In the broadest view, that set consists of households, consumers, savers, firm owners, investors, agency and elected officials, and global trading partners in which some wear many hats and face price considerations at two levels. Consider one distinction between macroeconomics and microeconomics though prices are taken into account in bot…

Economics is traditionally divided into two parts: microeconomics and macroeconomics.  The purpose of this course is to provide you with a fundamental understanding of the principles of macroeconomics.  Macroeconomists study how a country’s economy works and try to determine the best choices to improve the overall wellbeing of a nation.  Typical topics include inflation (the overall level of prices), employment, fiscal policy (government taxing and spending), and money and banking (interest rates and lending policies).  Individuals and firms need to consider how macroeconomic events will affect their own prosperity.  To better define macroeconomics, consider its distinction from microeconomics.  Imagine you are attempting to figure out how the price of a certain good has been determined.  Microeconomics would focus on how supply and demand determine prices, while macroeconomics would study the determination of prices at all levels.  To test particular policies and ideas, or to find out the causes of…

This course is designed to introduce you to the study of Calculus.  You will learn concrete applications of how calculus is used and, more importantly, why it works.  Calculus is not a new discipline; it has been around since the days of Archimedes.  However, Isaac Newton and Gottfried Leibniz, two 17th-century European mathematicians concurrently working on the same intellectual discovery hundreds of miles apart, were responsible for developing the field as we know it today.  This brings us to our first question, what is today's Calculus?  In its simplest terms, calculus is the study of functions, rates of change, and continuity.  While you may have cultivated a basic understanding of functions in previous math courses, in this course you will come to a more advanced understanding of their complexity, learning to take a closer look at their behaviors and nuances. In this course, we will address three major topics: limits, derivatives, and integrals, as well as study their respective foundations and a…

In this course, you will look at the properties behind the basic concepts of probability and statistics and focus on applications of statistical knowledge.  You will learn about how statistics and probability work together.  The subject of statistics involves the study of methods for collecting, summarizing, and interpreting data.  Statistics formalizes the process of making decisions, and this course is designed to help you use statistical literacy to make better decisions.  Note that this course has applications for the natural sciences, economics, computer science, finance, psychology, sociology, criminology, and many other fields. We read data in articles and reports every day.  After finishing this course, you should be comfortable evaluating an author's use of data.  You will be able to extract information from articles and display that information effectively.  You will also be able to understand the basics of how to draw statistical conclusions. This course will begin with descriptive statistic…

Math for Economists will help you assemble a toolkit of skills and techniques to solve fundamental problems in both macroeconomics and microeconomics.  The material covers both precalculus and calculus concepts and should help you identify the best approach to solving problems.  For example, an economist may be called upon to determine the right mix allocation of capital to a production process.  The tools in this course will help you evaluate the options and select from the best alternatives.  Advanced courses in economics typically utilize mathematical techniques beyond basic calculus; so, gaining practice in fundamental skills can serve as a good basis for further study.  Of note, this course applies precalculus and calculus; this is different from “applied math,” which economists typically use to refer to probability and statistics. This course begins with a survey of basic optimization tools and then applies them to solve problems over several periods in time.  These optimization tools descri…

This course is designed to extend your knowledge of the basic microeconomic principles that will provide the foundation for your future work in economics and give you insight into how economic models can help us think about important real world phenomena.  Topics include supply and demand interaction, utility maximization, profit maximization, elasticity, perfect competition, monopoly power, imperfect competition, and game theory. Microeconomics is the study of rational choice behavior on the part of individual consumers and firms.  In general, economists are interested in how market mechanisms solve extremely complex resource allocation problems.  This course presents a logical and coherent framework in which to organize observed economic phenomena. Several economic "models" are developed and analyzed in order to help explain and predict a wide variety of economic (and sometimes, seemingly non-economic) phenomena.  Microeconomic theory is based on the notion that individuals (and firms) have well defin…

In this course, you will build on and apply what you learned in the introductory macroeconomics course (ECON102 [1]).   You will use the concepts of output, unemployment, inflation, consumption, and investment to study the dynamics of an economy at a more advanced level.   For example, now that you understand the relationship between supply and demand in general terms, you will be asked to examine the effects that short-run and long-run price changes have on full employment and output.  As the course progresses, you will gain a better appreciation for how policy shifts and changes in one sector impact the rest of the macroeconomy (whether the impacts are intended or unintended).  You will also examine the causes of inflation and depression, and discuss various approaches to responding to them.  By the end of this course, you should be able to think critically about the economy and develop your own unique perspective on various issues. Remember that macroeconomics attempts to explain the role of gover…

This course is designed to provide you with a simple and straightforward introduction to econometrics.  Econometrics is an application of statistical procedures to the testing of hypotheses about economic relationships and to the estimation of parameters.  Regression analysis is the primary procedure commonly used by researchers and managers whether their employments are within the goods or the resources market and/or within the agriculture, the manufacturing, the services, or the information sectors of an economy. Completion of this course in econometrics will help you progress from a student of economics to a practitioner of economics.  By completing this course, you will gain an overview of econometrics, develop your ability to think like an economist, hone your skills building and testing models of consumer and producer behavior, and synthesize the results you find through analyses of data pertaining to market-based economic systems.  In essence, professional economists conduct studies that combine…

As a student of economics, you must study the history of economic thought to understand why individuals, firms, and governments make certain choices. Economists try to answer three basic questions: what to produce, how to produce it, and for whom. The history of economic thought represents a wide diversity of theories within the discipline, but all economists address these three basic questions. As you learn more about the history of economic thought, you may realize that policies presented as great innovations today are founded upon centuries-old writings. You will learn that without a clear sense of the discussions and debates that took place among economists of the past, the modern economist lacks a complete perspective. By examining the history of economic thought, you will be able to categorize and classify thoughts and ideas and will begin to understand how to think like an economist. Economics is both a social science and a business subject; accordingly, economic thinking affects everything from art t…

This course is designed to provide you with a thorough understanding of the importance of money, banking, and financial markets of a developed economy.  Money, financial institutions, and financial markets have emerged as instruments of payments for the services of factors of production, such as labor and capital.  The use of money facilitates business in a market by acting as a common medium of exchange.  Of course, as that market expands and develops on a national and international level, the importance of money, banking, and other financial markets expands to accommodate innumerable exchanges. This course will allow you to examine not only the origins and nature of money, but also the institutions and markets that have evolved to enable the exchange of goods and services worldwide.  It will provide you with the opportunity to examine the instruments and strategies assisting production, distribution, and consumption.  Also, this course will help you develop an appreciation for important concepts in e…

In economics, the term "labor" refers to workers.  As a factor of production, labor earns wages for the services that it renders.  As such, students of labor economics have traditionally set out to understand wage formation, the level of employment, and all elements that go into the making of a wage relationship.  Over the years, the social and economic contexts in which labor markets operate have become increasingly complex; nowadays, labor economics is no longer limited to the study of wages.  Modern labor economics instead seeks to understand the complex workings of the labor market by studying the dynamics between employers, employees, and their wage-, price-, and profit-making incentives.  In other words, modern labor economics explores the outcomes of the labor market under the assumption that workers strive to maximize their wellbeing and firms strive to maximize profits.  It also analyzes the behavior of employers and employees and studies their responses to changes in government policies and/or…

This course introduces major theories of economic development and to place them in a historical context. In his contributory introduction “Economic Growth, Economic Development and Human Development” in The Development Economics Reader (2008), edited by Giorgio Secondi and published by Routledge, Secondi defines economic development as the “branch of economics that studies relatively poor countries.” In the same book, Mahbub ul Haq, writing under the title “The Human Development Paradigm,” suggests that the “basic purpose of development is to enlarge people’s choices,” which is in line with the views expressed by the Nobel laureate Amartya Sen. Whether development is simply studying poor countries or expanding people’s choices in poor countries, one of the essential requirements is that there must be a means for making the choices available. This means that economic development must include growth, but growth can take place without economic development. Without economic growth, the choices…

Public Finance rests at the intersection of two disciplines: Public Economics and Public Choice.  Public Economics deals with issues of social optimality: how much of a good (or ill) does a society desire (or tolerate), and how do we incentivize producers and consumers to attain that amount?  Public economics concerns itself with externalities, which are costs that are borne by persons not involved in a market transaction.  There are both positive and negative externalities; public economists want to know how we get more of the good and less of the bad.  Public choice is the field of economics that looks into the behavior of voters, politicians, and bureaucrats and studies how they choose given different policy institutions. The field of Public Finance studies the interaction between these two disciplines, asking questions like: How do the incentives of the political actors shape the policies they craft?  How does that in turn affect the outcomes in the marketplace?  Alternately, students of Public Fi…

This course surveys major topics and theories in the field of Industrial Organization.  As part of the applied microeconomics structure, Industrial Organization uses the basic tools of microeconomic theory and game theory to study the structure and behavior of firms and their strategic interactions with one another in the marketplace.  Industrial Organization also studies the impact that those interactions have on market structure and welfare. Different kinds of market structures (perfect competition, imperfect competition, monopoly, oligopoly, and so forth) present different scenarios in which firms strive to acquire and use market power for their strategic advantage.  While perfect competition and monopoly are two market structures on opposite ends of the spectrum, imperfect competitionwhere a limited number of firms attempt to manipulate their rivals or consumersis a more realistic set-up.  This course will emphasize market structure analysis and the strategic behaviors of competing firms, including…

This course will provide you with an analytical framework for the study of international trade.  Historically, international trade has played a critical role in enabling countries to grow, develop, and become economically powerful.  Through international trade in goods and services, the economies of different countries are more closely linked to one another now than ever before.  At the same time, the world economy is more turbulent now than it has been in decades.  Keeping up with the shifting international environment has become a central concern in business strategy and national economic policy.  This course uses the same fundamental methods of analysis deployed in other branches of economics, as the motives and behavior of individuals and firms remain the same whether they are in the context of international trade or domestic transactions.  You will learn, however, that international trade introduces an entirely new and different set of concerns as well. This course will cover a broad array of rel…

Effective writing skills are important for you to succeed in your studies at the collegiate level, as well as for your future career. This course is designed to improve your writing ability, which is necessary for entrance into English Composition 1, as well as for your ongoing success in other academic subjects. Pre-College English coursework focuses on active reading and analytic writing, with emphasis on organization, unity, coherence, and adequate development; an introduction to the expository essay; and a review of the rules and conventions of standard written English. In Unit 1, you will learn the basics of active reading and how active reading is paramount in your success as a student and beyond. You will also learn how to identify the main idea in a piece of literature, and how to create a topic sentence that conveys the main idea in your own writing. You will discover the benefits of prewriting, and will learn prewriting techniques that can be used at the onset of any writing project. In Unit 2, you…

No matter what career you pursue, you must be able to communicate effectively and clearly if you want to be successful.  This course will enhance your ability to do so by sharpening your critical thinking and writing skills.  We will begin with a unit designed to change the way in which you think about writing.  First, you will learn to think of writing not as a solitary act but as a conversation between yourself and an audience.  In this light, writing becomes a dynamic, interactive, and creative rather than a rote practice.  You will also begin to value writing as a process an admittedly difficult one  rather than a product.  You will come to see that writing is an act of discovery rather than a recitation of prefabricated ideas. Because this course is designed specifically for students in a university setting, the second unit will focus on academic writing.  We will learn how to respond to an assignment or test question by using the “PWR-Writing” or “Power-Writing” Method (PWR: Pre-write…

The ability to research topics and incorporate information from your sources into your work is an important skill both in college and on the job.  This course will reinforce the concepts you practiced in English Composition I by introducing you to basic research concepts and techniques.  It will also give you a chance to put these new concepts and techniques to work as you develop a final research paper.  We will begin by looking at how to build research into an effective writing process.  First, you will learn to think of researching not as a requirement for getting a good grade on a paper but as a valuable tool that can make your writing more powerful and convincing.  You will learn how to build research into your writing process so that you can add persuasive power to your finished work.  Through rigorous practice of the fundamental techniques, you will come to see that, like writing itself, research is an act of discovery rather than a search for prefabricated ideas. The intent of this course is t…

This course will introduce you to the history and practice of English as a scholarly discipline with the goal of preparing you for your future endeavors as an English major. It has been designed to familiarize you with the various tools that scholars have devised in order to facilitate the study of literary expression in English, from critical frameworks to close reading techniques. After an introductory unit outlining basic approaches to literary analysis, we will embark upon a genre study, devoting each of the four remaining units to a different genre of writing: poetry, the novel, drama, the rhetorical essay, and the critical essay. In each of these units, we will review a general history of the genre, read a representative sample or set of samples, learn genre-specific critical terms and theories, and apply what you have learned to essays of your own. By the end of this course, you will have developed strategies that will enable you to understand, analyze, and critically respond to works in any genre at a…

The medieval period, or the Middle Ages, spans about a thousand years between the fall of the Roman Empire, which occurred around 500 CE, and the beginning of the European Renaissance, which was a bit later in England around 1500 CE. The idea of a period called the Middle Ages was a product of later thinkers who contrasted the explosive creativity and cultural transformation of the Renaissance with the seemingly subdued work of earlier centuries. Many saw this earlier period as less intellectually and culturally valuable. It is worth noting that contemporary historians often refer to the Renaissance as the Early Modern. The ideas, values, and tastes of this period are more in alignment with our own, and it is easy to appreciate and identify with them more than with those of earlier times. Nonetheless, the Middle Ages produced artistic works that not only reveal the culture and thought of that age, but also link strongly with artistic representations from later ages, including our own. Many fundamental ideas…