This lesson is a summary of thoughts of why Fractional Reserve Banking is a subsidy to banks and allows them to arbitrage the yield curve. [Banking, Money, Finance playlist: Lesson 24 of 24]

This catalog contains educational content originally curated by Boundless. In collaboration with the Boundless team, Lumen Learning imported these OER courses to the Lumen Platform, to ensure they remain freely available to the education community after Boundless ceased operations. Lumen maintains the Boundless content in the same condition it was provided to us. Courses may contain issues with formatting, accessibility, and the degree to which content remains current, accurate, and complete.

Table of Contents
Principles of Economics
The Market System
Introducing Supply and Demand
Economic Surplus
Consumer Choice and Utility
Elasticity and its Implications
Market Failure: Externalities
Market Failure: Public Goods and Common Resources
Production
Competitive Markets
Monopoly
Monopolistic Competition
Oligopoly
Inputs to Production: Labor, Natural Resources, and Technology
Challenges to Efficient Outcomes
Taxes and Public Finance
Income Inequality and Poverty
Introduction to Macroeconomics
Measuring Output and Income
Economic Growth
Inflation
Unemployment
Inflation and Unemployment
Aggregate Demand and Supply
Major Macroeconomic Theories
Fiscal Policy
The Monetary System
Monetary Policy
The Financial System
Current Topics in Macroeconomics
International Trade
Open Economy Macroeconomics
Economic Crises
Interest
Health Care Economics
Natural Resource Economics
Agriculture Economics
Immigration Economics

This catalog contains educational content originally curated by Boundless. In collaboration with the Boundless team, Lumen Learning imported these OER courses to the Lumen Platform, to ensure they remain freely available to the education community after Boundless ceased operations. Lumen maintains the Boundless content in the same condition it was provided to us. Courses may contain issues with formatting, accessibility, and the degree to which content remains current, accurate, and complete.

There are several hundred thousand Brownfield sites across the country. The large number of sites, combined with how a majority of these properties are located in urban and historically underserved communities, dictate that redevelopment of these sites stands to be a common theme in urban planning for the foreseeable future. Students form a grounded understanding of the Brownfield lifecycle: how and why they were created, their potential role in community revitalization, and the general processes governing their redevelopment. Using case studies and guest speakers from the public, private and non-profit sectors, students develop and hone skills to effectively address the problems posed by these inactive sites.

This is the first edition of the open text book Building a Competitive Investment Climate on First Nation Lands. This textbook is for students who are First Nation and tribal government employees or students who would like to work for or with First Nation and tribal governments. The purpose of this textbook is to help interested First Nation and tribal governments build a competitive investment climate. Work began on this text book in early 2012 with a generous grant from the Donner Canadian Foundation. Financial support was also provided by the First Nations Tax Commission and the Tulo Centre.

Uses a case approach to develop a framework for business analysis. Provides students with tools for business analysis, including strategic, accounting, financial, and prospective analysis. Concepts are then applied to a number of decision-making contexts, such as credit analysis, investor communications, merger analysis, financial policy decisions, and securities analysis. From the Course Description: Course Description The purpose of this class is to advance your understanding of how to use financial information to value and analyze firms. We will apply your economics/accounting/finance skills to problems from today's business news to help us understand what is contained in financial reports, why firms report certain information, and how to be a sophisticated user of this information.

The purpose of this course is to trace the twin paths of capitalism and democracy through American history. This course is premised on the idea that capitalism and democracy are intertwined, though they have often conflicted with one another. It provides students with a brief introduction to the history of capitalism and democracy in Europe and then to explore how they evolved in North America between 1600 and the present. Upon successful completion of this course, students will be able to: define and identify the terms 'capitalism' and 'democracy' in a variety of different modern historical eras; identify and define the historical connections between capitalism and democracy and identify periods of tension between capitalism and democracy, explaining how they both strengthen and weaken one another; identify important events, personalities, and concepts related to American democracy and capitalism; identify and describe the emergence and development of both capitalism and democracy in the United States; identify and describe the different periods of American history as they relate to the concepts of capitalism and democracy. (History 312)

Subject addresses the evolution of the modern capitalist economy and evaluates its current structure and performance. Various paradigms of economics are contrasted and compared (neoclassical, Marxist, socioeconomic, and neocorporate) in order to understand how modern capitalism has been shaped and how it functions in today's economy. Readings include classics in economic thought as well as contemporary analyses. Subject stresses general analytic reasoning and problem formulation rather than specific analytic techniques. May not be used for economics concentration. One economics HASS-D subject may be used as an economics elective for the economics major and minor. This course examines the implications of economic theories for social and political organization in the context of the historical evolution of industrial societies. Among the authors whose theories will be discussed are Ayn Rand, Milton Friedman, Karl Marx, Max Weber, Joseph Schumpeter, and John Kenneth Galbraith. Emphasis will be placed on class discussion of specific texts. Students will be encouraged to ground their views in concrete textual and empirical material and to consider the implications of different arguments for the understanding of personal, political, and economic events today.

This is a course for those who are interested in the challenge posed by massive and persistent world poverty, and are hopeful that economists might have something useful to say about this challenge. The questions we will take up include: Is extreme poverty a thing of the past? What is economic life like when living under a dollar per day? Why do some countries grow fast and others fall further behind? Does growth help the poor? Are famines unavoidable? How can we end child labor - or should we? How do we make schools work for poor citizens? How do we deal with the disease burden? Is micro finance invaluable or overrated? Without property rights, is life destined to be "nasty, brutish and short"? Has globalization been good to the poor? Should we leave economic development to the market? Should we leave economic development to non-governmental organizations (NGOs)? Does foreign aid help or hinder? Where is the best place to intervene?

Small-group study of advanced subjects under staff supervision. For graduate students wishing to pursue further study in advanced areas of urban studies and city and regional planning not covered in regular subjects of instruction. 11.941 and 11.955 are taught P/D/F.

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.

" Topics include productivity effects of health, private and social returns to education, education quality, education policy and market equilibrium, gender discrimination, public finance, decision making within families, firms and contracts, technology, labor and migration, land, and the markets for credit and savings."

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 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."

Deterministic optimization: maximum principle, dynamic programming, calculus of variations, optimal control, dynamic games. Stochastic optimization: stochastic optimal control and dynamic programming, Markov processes, Ito calculus, Markov games. Applications. Dynamical systems: local and global analysis and chaos. 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 will introduce the student to the history of the world's major civilizations from medieval times to the early modern era. The student will learn about the pivotal political, economic, and social changes that took place in Asia, Africa, the Americas, and Europe during this period. By the end of the course, the student will understand how many different civilizations evolved from isolated societies into expansive, interconnected empires capable of exerting global influence. Upon completion of this course, students will be able to: Think critically and analytically about world history in the medieval and early modern eras; Identify and describe the emergence, decline, and main features of the Byzantine Empire; Identify the origins and characteristics of the European medieval period and describe the rapidly changing forces at work in society, the economy, and religion during this time; Identify the origins of the Aztec and Inca civilizations and assess how these empires affected socio-economic development in the Americas; Identify the origins of the Tang and Song dynasties in China and assess the impact of these empires on Chinese government, society, religion, and economy during what scholars refer to as the 'golden age'; Identify the origins of the Mongol Empire, which dominated much of Asia in the twelfth and thirteenth centuries. Students will analyze the nature of this empire created by nomads; Identify the reasons for a changing balance in the world economy in the 1400s and analyze why Europe superseded Asia as the most dominant civilization on the globe; Assess how and why the European Age of Discovery had such a large impact on the New World, Africa, the Middle East, and Asia; Identify the origins and characteristics of the Renaissance and describe its impact on European civilization as a whole; Identify the origins of the Reformation and Counter-Reformation in Europe and assess how this movement altered the social, political, and religious fabric of Europe; Identify the origins of colonial Brazil and New Spain. Students will also be able to assess the impact of Spanish and Portuguese colonization on the New World, Africa, and Europe; Identify the origins of the Ottoman, Safavid, and Mughal empires and assess the unique characteristics of these dynasties and their impact upon Asia and the world; Identify the origins of the Atlantic slave trade, assessing how this forced migration of peoples affected Africa, Africans, Europe, and the New World; Analyze and describe the Asian trading world, the Ming dynasty in China, the ĺÎĺĺĺŤwarring states,' and early modern eras in Japan; Analyze and interpret primary source documents from the medieval period to the early modern era using historical research methods. (History 221)

If you are an entrepreneur, one of your priorities, in addition to building your company, is ensuring you have enough money at the right times. Early Stage Capital will consider a broad range of questions that entrepreneurs deal with on this front, including the following: What should your strategy and your priorities be in raising early stage capital? What are the market norms and standards in structuring VC deals? What are the critical negotiating strategies and tactics? How will your company be valued? How can you obtain the optimal valuation for your new venture? What are the critical elements in the relationship between venture capitalists and entrepreneurs? How is the "venture model" evolving? Is it broken? What is the impact of Super Angels and micro VCs? These are key questions that face all entrepreneurs in 2010, particularly first-time entrepreneurs. This course aims to prepare you for these decisions, as either a potential entrepreneur or venture capitalist. Using live interactions with leading figures in the venture finance community, most of the class sessions will analyze fundamental strategies of the venture-capital investment process and the critical importance of the relationship between entrepreneur and investor. As well, we will have a tactical focus on demystifying the legalities and jargon of the term sheet and the "A round" financing process. Significantly for 2010, we will also frequently consider the rapid and arguably fundamental change in VC today as the "lean startup" model threatens much of the traditional role and value of the venture investor. Disclaimer: The websites for this course and the materials they offer are provided for educational use only. They are not a substitute for the advice of an attorney and no attorney-client relationship is created by using them. All materials are provided "as-is", without any express or implied warranties.

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.