First-Year Seminar: Thinking like an Economist
Economics is a way of analyzing the world in which scarcity requires tradeoffs and creates constraints which are expressed as mathematical optimization. Theories are tested with both controlled experiments and analysis of field data. Motivating clever theories and evidence is a folk concept of "thinking like an economist" (or "economic intuition"). We will develop economic intuition about topics which include: Unintended consequences, how to show causality, partial and general equilibrium, game theory, the effect of institutional systems, price bubbles, pricing risk, drug addiction, and more. First-year (undergraduate) only, limited enrollment. Not offered 2022-23.
The online version of the Caltech Catalog is provided as a convenience; however, the printed version is the only authoritative source of information about course offerings, option requirements, graduation requirements, and other important topics.