Brief Introduction
The course discusses complex economic processes in straightforward terms so that they can be understood without the use of mathematicsCourse Summary
This course introduces students to the basics of real-world economics and its applications. Students will learn about the principles of demand and supply, market equilibrium, and government intervention in markets.Key Learning Points
- Gain a foundational understanding of economics and its applications in the real world.
- Learn about the principles of demand and supply, market equilibrium, and government intervention in markets.
- Develop critical thinking skills by analyzing real-world economic issues.
Related Topics for further study
Learning Outcomes
- Understand the principles of economics and how they apply to real-world issues.
- Develop critical thinking skills by analyzing economic problems.
- Apply economic concepts to make informed decisions.
Prerequisites or good to have knowledge before taking this course
- Basic understanding of algebra
- Familiarity with basic economic concepts
Course Difficulty Level
BeginnerCourse Format
- Online
- Self-paced
Similar Courses
- Principles of Microeconomics
- Introduction to Macroeconomics
Related Education Paths
Notable People in This Field
- Paul Krugman
- Nouriel Roubini
Related Books
Description
Course description
The course discusses complex economic processes in straightforward terms so that they can be understood without the use of mathematics. The focus is on real-world applications of economics in contrast to academic blackboard economics, which relies excessively on assumptions, theorizing, and abstract models of the economy. We apply the concepts we learn to contemporary controversial topics such as minimum wage legislation, the function of unions, and why the free market overcharges for health care. We explore why Noble Prize winning economists such as Paul Krugman and Joe Stiglitz are so critical of the current economic situation for its dizzying inequality, its endemic underemployment, humongous trade and government deficits, stagnating wages, and lack of inclusive growth that is unable to provide a decent life for so many millions of its citizens. Mainstream economists do not have the answers to the challenges of globalization and technological unemployment because they are unable to think creatively about new institutional structures that would enable us to transition to a full-employment, high quality-of-life economy. In contrast, this course weaves ideas from psychology, sociology, and political science into a common-sense economic perspective in order to explore these issues. We also discuss the achievements of Nobel Prize winning economists Robert Shiller, Daniel Kahneman, and Richard Thaler in the fields of behavioral economics and behavioral finance. The course includes concepts from both microeconomics and macroeconomics.
Summary of User Reviews
Foundations of Real-World Economics course by Harvard Online Learning has received positive reviews from users. Many users appreciated the practical approach of the course that helps them understand real-world economic scenarios. Overall, users found the course to be helpful in gaining a better understanding of economics.Key Aspect Users Liked About This Course
The practical approach of the course was appreciated by many users.Pros from User Reviews
- The course provides a practical approach to economics that makes it easy to understand real-world scenarios.
- The course content is well-organized and easy to follow.
- The course uses real-world examples and case studies to explain economic concepts.
- The instructors are knowledgeable and provide excellent guidance throughout the course.
Cons from User Reviews
- The course may be too basic for advanced students or those with prior knowledge of economics.
- The course may not be suitable for those looking for a theoretical approach to economics.
- Some users found the course to be too short and wished it was longer.
- The course may not provide enough support for those who struggle with economics concepts.
- The course may be too expensive for some users.
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