>Course description
This course is open to everyone who is interested in Economics. The course is suitable for anyone who is major in another subject, but who wants to broaden their minds. The course is taught in a non-technical way, that is the course introduces the students to how economists think by using case studies. With actual applications, students will learn the practical know-how of economic anaysis without the need to learn a bunch of economic theories and complicated mathematical techniques. Within this course, we will study microeconomics, macroeconomics, and also econometrics. Microeconomics is the study of individuals and macroeconomics is the study of aggregates. We also study econometrics, which is the study of how to test the validity of theoretical hypothesis: the counterpart of an experimental method in natural science.
>Aims
Economics is a very useful tool to understand most things in daily life: that's why both specialists and non-specialists should gain a basic knowledge of economics. Thinking like an economist will be a nice guide to make better decisions and predictions, and get to the correct answers to questions that we always ask ourselves.
Students can learn the intellectual framework to think like an economist about a range of issues. Specifically,
1) Know a set of simple analytical tools which economists frequently use.
2) Understand how the system works with a combination of the tools.
3) Suggest the simple solution when the system malfunctions.
This is what we call "thinking like an economist"
Microeconomics, Game theory, Macroeconomics, Econometrics
Specialist skills | ✔ Intercultural skills | Communication skills | Critical thinking skills | Practical and/or problem-solving skills |
Lecture(1hour)+Discussion(30min.)
Course schedule | Required learning | |
---|---|---|
Class 1 | Class guidance and introduction to the course | Mankiw(2014) Ch.1-3 Coyle(2009) |
Class 2 | Microeconomics | Mankiw(2014) Ch. 4-7 Becker/Posner(2010) |
Class 3 | Microeconomics | Adshade(2013) |
Class 4 | Microeconomics: Game theory | Dixit/Nalebuff(1991) |
Class 5 | Macroeconomics | Mankiw(2014) Ch.10 |
Class 6 | Macroeconomics | Mankiw(2014) Ch.11 |
Class 7 | Econometrics | Levitt/Dubner(2006) Levitt/Dubner(2011) |
Class 8 | Econometrics | Levitt/Dubner(2006) Levitt/Dubner(2011) |
This lecture is self-contained and requires no textbook.
>Course materials
PowerPoint slides are assigned to each topic and will be uploaded after the class. Students are expected to use these documents for review purposes.
>Reference
1) N.G. Mankiw; "Principles of Economics"; 7th edition 2014; South-Western College Pub
2) A.K. Dixit and B.J. Nalebuff; "Thinking strategically: the competitive edge in business, policitcs, and everyday life"; 1991; Norton
3) S.D. Levitt and S.J.Dubner; "Freakonomics"; 2006; Penguin Books
4) S.D. Levitt and S.J.Dubner; "Super Freakonomics"; 2010; Penguin Books
5) G.S. Becker and R.A. Posner; "Uncommon Sense: Economic Insights, from Marriage to Terrorism"; Reissue edition 2010; University of Chicago Press
6) M.Adshade; "Dollars and Sex: How Economics Influences Sex and Love"; 2013; Chronicle Books
7) D. Coyle; "The Soulful Science: What Economists Really Do and Why It Matters"; Revised edition 2009; Princeton University Press
Attendance and activities in class: 30%
Final exam: 70%
None required