Data on Chinese / U.S. balance of payments. [Economics playlist: Lesson 17 of 20]

Describes a simple business, leading to a discussion on inflation/deflation. It also touches on income statements. [Economics playlist: Lesson 1 of 20]

Continues the description of the cupcake business, inflation/deflation, and the income statement. [Economics playlist: Lesson 2 of 20]

Uses a spreadsheet to show why prices decrease when utiliation is low and why prices increase when utilization is high. [Economics playlist: Lesson 3 of 20]

Discussion of the floating exchange effect on China. [Economics playlist: Lesson 19 of 20]

Discussion of the floating exhange effect on the U.S. [Economics playlist: Lesson 20 of 20]

Discussion of floating exchange resolving trade imbalance. [Economics playlist: Lesson 11 of 20]

Continues the discusion of inflation and capacity utilization. [Economics playlist: Lesson 5 of 20]

Reviews President Obama's Stimulus Package and whether the stimulus is large enough to offset the demand shock created by the contraction of credit. [Economics playlist: Lesson 6 of 20]

A review of the China / U.S. currency situation [Economics playlist: Lesson 14 of 20]

Simple analysis of cost per job saved from stimulus. [Economics playlist: Lesson 9 of 20]

Analyzes unemployment data to show that real unemployment is worse than the headline numbers show. [Economics playlist: Lesson 7 of 20]

Presents an understanding of how the headline unemployment rate (U-3) is calculated. [Economics playlist: Lesson 10 of 20]

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.

This course examines the growing importance of medicine in culture, economics and politics. It uses an historical approach to examine the changing patterns of disease, the causes of morbidity and mortality, the evolution of medical theory and practice, the development of hospitals and the medical profession, the rise of the biomedical research industry, and the ethics of health care in America.

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.

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.

An introduction to current macroeconomic concerns with particular emphasis on medium-run economic fluctuations, economic crises, and the role of asset markets. Topics include the explanation of high chronic unemployment in some nations, the source of modern liquidity crises, the origin and end of speculative bubbles, and the factors that lead to substantial periods of economic stagnation.