Microeconomics will ground you in - surprise - basic microeconomics-how markets function, …
Microeconomics will ground you in - surprise - basic microeconomics-how markets function, how to think about allocating scarce resources among competing uses, what profit maximizing behavior means in industries with different numbers of competitors, how technology and trade reshapes the opportunities people face, and so on. We will apply economic ideas to understand current economic problems, including the housing bubble, the current unemployment situation (particularly for high school gradutes), how Google makes its money and why healthcare costs are rising so fast.
Applications ahead of Theory We present all the theory that is standard …
Applications ahead of Theory We present all the theory that is standard in books on the principles of economics. But by beginning with applications, we also show students why this theory is needed.
We take the kind of material that other authors put in “applications boxes” and place it at the heart of our book. Each chapter is built around a particular business or policy application, such as (for microeconomics) minimum wages, stock exchanges, and auctions, and (for macroeconomics), social security, globalization, and the wealth and poverty of nations.
Why take this approach? Traditional courses focus too much on abstract theory relative to the interests and capabilities of the average undergraduate. Students are rarely engaged, and the formal theory is never integrated into the way students think about economic issues. We provide students with a vehicle to understand the structure of economics, and we train them how to use this structure.
This web-based open textbook and course for Microeconomics for Business was created …
This web-based open textbook and course for Microeconomics for Business was created under a Round Eight ALG Textbook Transformation Grant. The text is a remix including newly-created textbook chapters and chapters from OpenStax Principles of Microeconomics.
Original chapters are also available for download in the repository.
Topics include:
Introduction to Economics Demand and Supply in Competitive Markets Elasticity of Demand and Supply Markets and Government Consumer Choice Production, Costs, and Profit Firms' Decisions under Perfect Competition Monopoly, Rent Seeking, and Antitrust Policies Firms' Decisions under Monopolistic Competition Market Concentration, Oligopoly, and Firms' Strategic Interaction
Minimum efficient scale (MES) is the quantity at which a firm’s long …
Minimum efficient scale (MES) is the quantity at which a firm’s long run average total cost curve stops falling, and the size of a firm’s MES relative to the size of the market has a strong influence on market structure— large MES is associated with more concentrated markets.
Another type of price control is a price floor, which is a …
Another type of price control is a price floor, which is a minimum legal price. A real world example of a price floor is a minimum wage. In this video we explore how a minimum wage might affect a perfectly competitive labor market. Created by Sal Khan.
The Biology 256 Laboratory course was designed to provide students with hands-on …
The Biology 256 Laboratory course was designed to provide students with hands-on access to modern techniques in human physiological analyses using the course-based research pedagogical approach. In this course, students will learn how to perform literature searches; generate research questions and hypotheses; design experiments; collect, analyze, visualize and interpret data; and present scientific findings to others. The Biol 256L curriculum offers a high-impact human physiology experience that fosters the critical thinking skills required to be a successful citizen in a modern world filled with misinformation.
Mathematics, as we all know, is the language of science, and fluency …
Mathematics, as we all know, is the language of science, and fluency in algebraic skills has always been necessary for anyone aspiring to disciplines based on calculus. But in the information age, increasingly sophisticated mathematical methods are used in all fields of knowledge, from archaeology to zoology. Consequently, there is a new focus on the courses before calculus. The availability of calculators and computers allows students to tackle complex problems involving real data, but requires more attention to analysis and interpretation of results. All students, not just those headed for science and engineering, should develop a mathematical viewpoint, including critical thinking, problem-solving strategies, and estimation, in addition to computational skills. Modeling, Functions and Graphs employs a variety of applications to motivate mathematical thinking.
A monopolist might be pretty happy about its extraordinary profits, but these …
A monopolist might be pretty happy about its extraordinary profits, but these come at a cost for society. In this video we explore the welfare implications of a monopoly market. Created by Sal Khan.
A monopolist's marginal revenue curve is always less than its demand curve. …
A monopolist's marginal revenue curve is always less than its demand curve. We explore why using a numerical example in this video. Created by Sal Khan.
Price discrimination is charging each consumer their entire willingness to pay. What …
Price discrimination is charging each consumer their entire willingness to pay. What if a monopolist can charge each buyer their entire willingness to pay? Learn about the effect of perfect price discrimination on output and deadweight loss in this video.
We've learned in previous lessons that a price control decreases quantity and …
We've learned in previous lessons that a price control decreases quantity and efficiency, but is that always the case? Learn about the surprising effect of a minimum wage on a monopsonistic labor market in this video.
In this video we expand our analysis of the prisoners' dilemma to …
In this video we expand our analysis of the prisoners' dilemma to better understand the concept and definition of a Nash Equilibrium. Created by Sal Khan.
This text is for an introductory level probability and statistics course with …
This text is for an introductory level probability and statistics course with an intermediate algebra prerequisite. The focus of the text follows the American Statistical Association’s Guidelines for Assessment and Instruction in Statistics Education (GAISE). Software examples provided for Microsoft Excel, TI-84 & TI-89 calculators. A separate document is provided on the website with examples in SPSS.
Students new to statistics are sure to benefit from this fully ADA accessible and relevant textbook. The examples resonate with everyday life, the text is approachable, and has a conversational tone to provide an inclusive and easy to read format for students.
This textbook incorporates the compilation of my notes over the years teaching introductory probability and statistics courses used to expand and enhance upon the open educational resource Statistics Using Technology by Kathryn Kozak, with some additional material adapted from OpenIntro Statistics by Diez, Barr, and Çetinkaya-Rundel. Both texts are licensed under CC BY-SA 4.0. This textbook, except for the cover art, is licensed under a Creative Commons Attribution-Share Alike 4.0 International License (CCBY-SA 4.0).
Review and content editing by Jennifer Ward. Recommended definition edits and glossary terms by Dr. Naghmeh Daneshi. Alternative text for images provided by Whitney Cave. Additional exercises from Whitney Cave and from MyOpenMath: https://www.myopenmath.com/. Copy editing by Walter Benson. Cover art by James Tadlock https://www.artstation.com/redhedron.
For instructors, there is a complete solution manual and two companion online homework courses. An adaptive learning system called Realizeit which has content from the text, videos and homework problems. A free MyOpenMath course with problems divided by chapter. Email Rachel Webb for more information.
In this survey text, directed at those not majoring in biology, we …
In this survey text, directed at those not majoring in biology, we dispel the assumption that a little learning is a dangerous thing. We hope that by skimming the surface of a very deep subject, biology, we may inspire you to drink more deeply and make more informed choices relating to your health, the environment, politics, and the greatest subject that are all of us are entwined in, life itself.
The eight-session subject uses literary narratives and poetry to study ethical issues …
The eight-session subject uses literary narratives and poetry to study ethical issues in medicine. Methodology emphasizes the importance of context, contingency, and circumstance in recognizing, evaluating, and resolving moral problems. Focus on developing the skills of critical and reflective reading that increase effectiveness in clinical medicine. Texts include short fiction and poetry by Woolf, Chekhov, Carver, Kafka, Hurston, Marquez, and Tolstoy. Instructor provides necessary philosophic and literary context followed by class discussion. Students keep a reading journal that examines the meanings of illness, the moral role of the physician, and the relevance of emotions, culture, faith, values, social realities, and life histories to patient care.
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