Friday , July 19 2019
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Let’s Twist Again with Online Econ 1

Summary:
This summer we will be offering Stanford’s Principles of Economics course online.  As explained in this Wall Street Journal article, “A Twist in Online Learning at Stanford,” the twist again is that we’ll offer it both (1) to the general public and (2) for credit to matriculated Stanford students, incoming freshman, and visiting students in the Stanford Summer School. Those seeking credit can register here for the for-credit course, which is just starting with the first week’s videos and other course content posted on Monday, June 24. This is the same as the on-campus course, Economics 1, which I give at Stanford during the academic year, and it fulfills all the same requirements. Getting credit requires regular homework, a mid-term exam, and a final exam, all of which are taken

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This summer we will be offering Stanford’s Principles of Economics course online.  As explained in this Wall Street Journal article, “A Twist in Online Learning at Stanford,” the twist again is that we’ll offer it both (1) to the general public and (2) for credit to matriculated Stanford students, incoming freshman, and visiting students in the Stanford Summer School.

Those seeking credit can register here for the for-credit course, which is just starting with the first week’s videos and other course content posted on Monday, June 24. This is the same as the on-campus course, Economics 1, which I give at Stanford during the academic year, and it fulfills all the same requirements. Getting credit requires regular homework, a mid-term exam, and a final exam, all of which are taken online.

The open online course for the general public is also based on my lectures in the on-campus Stanford course. It begins one week later, on July 1, and next week information will available here. People who participate in the open online course and take the short quizzes following each video will be awarded a Statement of Accomplishment, or a Statement of Accomplishment with Distinction.

The on-line courses cover all of economics at a basic level.  They stress the key idea that economics is about making purposeful choice with limited resources and about people interacting with other people as they make these choices. Most of those interactions occur in markets, and this course is mainly about markets, including the market for bikes on campus, or labor markets, or capital markets.  We will show why free competitive markets work well to improve people’s lives and how they have removed millions from people from poverty around the world, with many more, we hope, still to come.

The textbook for the course is Principles of Economics by John B. Taylor and Akila Weerapana and it is available online as well

I am looking forward to another great summer quarter. Here is a sampling of views about the online course, either for the general public or for credit, which have been posted on Twitter:

  • Russell Roberts‏ @EconTalker: Great class. Great teacher. No charge. Get your basics right here.
  • Ike Brannon‏ @coachbuckethead: The most entertaining economist I know.
  • Brian Wesbury‏ @wesbury:  If you want to learn Economics from one of the best, click on this link!  What great news!
  • Juan Carlos Martinez‏ @juank700410: Educación gratuita y de calidad
  • Tom Church @TomVChurch Interested in economics? Take Econ-1 online. Pass the quizzes and get a statement of accomplishment! Plus, you’ll learn a thing or two.
  • Chris Pippin @ChrisPippin This is the class and the professor that made me an Econ major. Thanks to the generosity of @EconomicsOne and the miracle of the internet, now anyone can take it.
  • Nicolas Petit  @CompetitionProf Great course by terrific teacher, comprehensive & more than all eye opening on real world problems like trade wars and monetary policy.
John Taylor
John B. Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University. He formerly served as the Director of the Stanford Institute for Economic Policy Research where he is currently a Senior Fellow. He is also the George P. Shultz Senior Fellow in Economics at the Hoover Institution.

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