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This course is designed as an introduction to the study of economics. Participants will be exposed to the economic way of thinking and learn about the functioning of a modern market economy.
The early part of the course focuses on microeconomic analysis including the behavior of consumers and firms. We analyze markets for goods and services and policy choices that affect these markets. The later part of the course moves on to macroeconomic concepts such as national production, employment, inflation and interest rates. We explore models that determine long-run growth and short-term fluctuations in national economies. We then discuss the role of government regulation, monetary policy, and fiscal policy.
Part 1
The Basic Core
The Competitive Equilibrium Model
Firms and Industries Changing Over Time
Deviations from Competition
Labor Markets
Key Economic Policy Issues
Financial and Capital Markets
Part 2
Macro Facts and Measures
Long Run Macro
Short Run Macro
Macro Policy Issues
International Economic Issues
Is a textbook required for this course?
No. There is a strongly recommended textbook, but it is not required. The textbook is Principles of Economics, Version 9.0 by John B. Taylor and Akila Weerapana. The online version can be purchased at https://catalog.flatworldknowledge.com/catalog/editions/principles-of-economics-9 for $44.95.
Will I receive Stanford credit for this course?
No, this course is not for credit.
Is there a deadline to complete the quizzes within the course?
The quizzes can be completed any time before the course end date.
