This course provides rigorous introduction to core microeconomic issues in economic development, focusing on both key theoretical contributions and empirical applications to understand both why some countries are poor and on how markets function differently in poor economies. Topics include human capital (education and health); labor markets; credit markets; land markets; firms; and the role of the public sector.

Why are some countries rich and others poor? This fundamental question has been on the mind of economists since Adam Smith wrote "The Wealth of Nations" in 1776. This is a full course that covers all the major issues and developments in the field of development economics. Unlike typical college courses, we will take you to the frontier of the discipline, covering recent research as well as more established material. This course is non-technical and is accessible to a beginner. If you pass the final exam, you will earn our "Development Economics" certificate on your profile.

This course emphasizes dynamic models of growth and development. Topics covered include: migration, modernization, and technological change; static and dynamic models of political economy; the dynamics of income distribution and institutional change; firm structure in developing countries; development, transparency, and functioning of financial markets; privatization; and banks and credit market institutions in emerging markets.
At MIT, this course was team taught by Prof. Robert Townsend, who taught for the first half of the semester, and Prof. Abhijit Banerjee, who taught during the second half. On OCW we are only including materials associated with sessions one through 13, which comprise the first half of the class.

Short Description:
The Local Development and Local Opportunities book is one of the first of its kind, in particular in the context of development of the small Anatolian cities. The book, on one hand, discusses opportunities offered by the small Anatolian cities; and on the other hand, shares new proposals for potential development programs.

Long Description:
The Local Development and Local Opportunities book is one of the first of its kind, in particular in the context of development of the small Anatolian cities. The book, on one hand, discusses opportunities offered by the small Anatolian cities; and on the other hand, shares new proposals for potential development programs. The book, as the last in a series of new academic activities between 2016-2018, is related to development concerns in a self-organized small city in the Eastern Anatolia.

Word Count: 4270

(Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)

This class surveys developmental entrepreneurship via case examples of both successful and failed businesses and generally grapples with deploying and diffusing products and services through entrepreneurial action. By drawing on live and historical cases, especially from South Asia, Africa, Latin America as well as Eastern Europe, China, and other developing regions, we seek to cover the broad spectrum of challenges and opportunities facing developmental entrepreneurs. Finally, we explore a range of established and emerging business models as well as new business opportunities enabled by developmental technologies developed in MIT labs and beyond.

The unifying theme of this course is best captured by the title of our main reference book: "Recursive Methods in Economic Dynamics". We start by covering deterministic and stochastic dynamic optimization using dynamic programming analysis. We then study the properties of the resulting dynamic systems. Finally, we will go over a recursive method for repeated games that has proven useful in contract theory and macroeconomics. We shall stress applications and examples of all these techniques throughout the course.

This course focuses on dynamic optimization methods, both in discrete and in continuous time. We approach these problems from a dynamic programming and optimal control perspective. We also study the dynamic systems that come from the solutions to these problems. The course will illustrate how these techniques are useful in various applications, drawing on many economic examples. However, the focus will remain on gaining a general command of the tools so that they can be applied later in other classes.

This course introduces the theory of relative prices in a market system, consumer choice, marginal analysis, and the allocation of productive resources among alternative uses in a market economy. Other topics may include market power and price discrimination, public finance, the labor market and environmental policy.

Course Outcomes:
1. Discuss the role scarcity plays in defining economic choices and how individuals, companies and nations resolve these issues.
2. Describe and apply marginal principle, principle of opportunity cost, principle of diminishing returns, comparative advantage, and elasticity.
3. Analyze the relationships between production costs and cost curves.
4. Explain the mechanics of supply and demand and apply the supply and demand model to evaluate markets.
5. Discuss the efficiency and equity of both competitive and noncompetitive markets and how both are impacted by government intervention.
6. Explain, compare and contrast, and apply in context each of the basic market structures - i.e. perfect competition, monopoly, oligopoly and monopolistic competition.

This course introduces the determination of levels of national income, employment and prices, and the basic causes of fluctuations in the business cycle, the banking system, monetary policy and financial intermediation. Other topics may include international trade and international finance.

Course Outcomes:
1. Discuss the role scarcity plays in defining economic choices and how individuals, companies and nations resolve these issues.
2. Describe and use economic data to evaluate the three basic macroeconomic problems: recession, unemployment, and inflation.
3. Discuss and apply the concepts of economic growth and business cycles to the macro economy.
4. Demonstrate how Gross Domestic Product (GDP) and Real GDP are calculated and explain the uses and limits of both.
5. Discuss and apply the aggregate-demand and aggregate-supply model to analyze short run and long run national economic conditions and the effectiveness of macroeconomic policy.
6. Apply the concepts of comparative and absolute advantage to explain the benefits of trade.

Application of economic theories to various aspects of professional and collegiate sports. Topics covered include the economic impact of sports on a local community, wage discrimination, the economics of publicly and privately funded stadiums, alumni giving, academics, broadcasting, and building a fan base.

Covers the study of the economic system as a whole, including the level of employment and diversity in income, fiscal and monetary policies, and the role of government in the economy. Also covers the economics of resource issues related to market failure and sustainability.

Covers the study of economic elements of supply and demand analysis. Also covers an examination of market structures, market allocation and externalities, labor markets and income distribution, and decision making by the individual firm.

In our european project “Circular Economy as a tool to develop an innovative eco-inclusive social entrepreneurship educational pattern for youth" cofunded by Erasmus+, the partnership developed a competency framework and report combining data and information from 6 partner countries, designed to inform Young people and Youth workers interested in Social Entrepreneurship through Circular Economy, including 7 key competences to embark on a Social Entrepreneurship endeavour through Circular Economy models.

All languages versions are available and downloable here: https://ecocircleproject.com/results/

We are now developping a course on circular economy that you will find very soon online!

The partnership is composed by:
- CDE Petra Patrimonia
- APS Polygonal
- Smartup N.B. Systematic Management S.L.
- MEUSkills
- Stichting Social DNA
- Olemisen Balanssia RY
- Mednarodni institut za implementacijo trajnostnega razvoja

This course will provide you with a basic understanding of the principles of microeconomics. At its core, the study of economics deals with the choices and decisions we make to manage the scarce resources available to us. Microeconomics is the branch of economics that pertains to decisions made at the individual level, such as the choices individual consumers and companies make after evaluating resources, costs, and tradeoffs.

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 the interaction of supply and demand, utility and profit maximization, elasticity, perfect competition, monopoly power, imperfect competition, and game theory.

Macroeconomics examines the fundamentals of the American economy as it relates to social welfare. Emphasis is on basic economic concepts and theories as they affect domestic and international markets. This course integrates behavioral social sciences to present solutions to real-world problems. Macroeconomics includes measurements of GDP, fiscal and monetary policy. Textbook

The book for this course is Macroeconomics OpenStax which was created by Rice University.

Videos

Images for videos come from the following sources with voice over from Professor Richard Gosselin at Houston Community College who is solely responsible for their content. There are 179 videos for the macroeconomics course with an average run time of about five minutes each. They were produced using three sources - desktop screen capturing via Screenflow which is a product of Telestream, as well as One Button Studio and the Learning Glass for live in-person mini-lectures filmed in a studio. Nearly all the video have been closed-captioned for the hearing impaired using professionals rather than automation. There are also downloadable transcripts embedded for each video and a download feature for users. Houston Community College footed the expense of the closed-captioning service. I would like to thank the college administration as well as Ruben Duran, Senior Media Developer at the college for assisting with this.

OpenStax Macroeconomics, Second Edition

Principles of Economics is adapted from a work produced and distributed under a Creative Commons license

(CC BY-NC-SA) in 2011 by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries Publishing through the eLearning Support Initiative. This adaptation has reformatted the original text and replaced some images and figures to make the resulting whole more shareable. This adaptation has not significantly altered or updated the original 2011 text. This work is made available under the terms of a Creative Commons Attribution-NonCommercial-ShareAlike license.

Test Bank

The original test bank provided by Open Stax provided 1158 questions, 955 were multiple choice and 203 were short answer questions. Under this grant there were no additional short answer questions added however, there are now 1418 questions in the new test bank which is the result of adding 260 questions of the following variety - multiple choice, fill in the blank, numerical questions, multiple drop-down questions, multiple-response questions, matching and formula questions which present each student with different values and parameters. Images in the test bank, unless otherwise noted are licensed under the Creative Commons and most are the product of unknown authors.

Review PowerPoint Slides

These were provided by Intellus Learning Open Courses

This work is licensed under a Creative Commons Attribution 4.0 International (Links to an external site.)Links to an external site. License. The material for these slides and the image come directly from Macroeconomics OpenStax, Second edition.

Discussion Questions

These were authored by Richard Gosselin at Houston Community College and are licensed under the Creative Commons. There are over 70 discussion questions available.

Flash Card Powered by Quizlet

These were authored by Richard Gosselin with a couple of exceptions. They are based on the terms in Macroeconomics, Second edition. They are also licensed under the Creative Commons and are freely distributable. There are 21 such quizzes, one for each chapter.

Excel Exercises and Videos

26 Excel assignments were created including practice assignments and videos to assist students with basic features of Excel which help them create a file, save data, sort data, create tables, line graphs, bar graphs and pie chart and much more.

Short Description:
A collection of essays on current economic problems, created by students in SUNY Oswego's Eco 405 - Seminar in Economic Theory and Policy class during the spring 2021 semester.

Long Description:
This volume contains six essays written collaboratively by students in SUNY Oswego’s Eco 405 – Seminar in Economic Theory and Policy class during the spring 2021 semester.

Word Count: 65887

(Note: This resource's metadata has been created automatically by reformatting and/or combining the information that the author initially provided as part of a bulk import process.)

This course provides a review of physical, chemical, ecological, and economic principles used to examine interactions between humans and the natural environment. Mass balance concepts are applied to ecology, chemical kinetics, hydrology, and transportation; energy balance concepts are applied to building design, ecology, and climate change; and economic and life cycle concepts are applied to resource evaluation and engineering design. Numerical models are used to integrate concepts and to assess environmental impacts of human activities. Problem sets involve development of MATLABĺ¨ models for particular engineering applications. Some experience with computer programming is helpful but not essential.

Economics can explain many of life’s big questions. Problem is, it can sometimes provide multiple, even conflicting, answers. So which answers are the “right” ones? There’s only one way to find out: Econ Duel! In this fun series from Marginal Revolution University, you’ll have a chance to hear from leading economic thinkers as they debate the big questions discussed in the news, in our schools, and around the dinner table.

Introduction to econometric models and techniques, simultaneous equations, program evaluation, emphasizing regression. Advanced topics include instrumental variables, panel data methods, measurement error, and limited dependent variable models. May not count toward HASS requirement.