TTC Video - Thinking like an Economist: A Guide to Rational Decision Making - ISBN:0000000000

TTC Video - Thinking like an Economist: A Guide to Rational Decision Making

Date: 13 April 2011, 08:55

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Thinking like an Economist: A Guide to Rational Decision Making course no. 5511
Taught By Professor Randall Bartlett, Ph.D., Stanford University, Smith College
Economic forces are everywhere around you. You're made aware of that whenever you reach for your wallet, apply for a loan, shop for health care, or try to figure out the best credit card to carry.
But that doesn't mean you need to passively accept whatever outcome those forces might press upon you. Instead, you can learn how to use a small handful of basic nuts-and-bolts principles to turn those same forces to your own advantage.
Making a few simple adjustments to the way you see things and act on them—learning to "think like an economist"—can give you newfound power and confidence in a surprising range of financial and personal situations that make up your daily life. You can find yourself making better decisions that not only save time and money, but also produce optimum results in other ways important to you. And you can also sharpen your understanding of world and national events.
In the 12 fast-moving and crystal-clear lectures of Thinking like an Economist: A Guide to Rational Decision Making, award-winning Professor Randall Bartlett of Smith College presents some of the fundamental principles and concepts that shape the lenses through which economists view the world. He then shows you how to use these simple analytical tools to understand what you see through those lenses.
By learning to identify the many varied situations in which economics affects your life and how to wield the tools that can help you make the wisest choices in those situations, you'll enhance not only your understanding of daily life but your own success in living it.
A Tool Kit for Changing How You Look at Daily Life
Many of the concepts in Professor Bartlett's tool kit may be familiar.
* People respond to incentives.
* There's no such thing as a "free lunch."
* There are at least two sides to every interaction.
* Everything affects everything else.
* Any action can bring with it significant unintended consequences.
* In this world of complex interrelationships, no one is really in control.
Course Lecture Titles
12 Lectures
30 minutes / lecture
1. The Economist's Tool Kit—6 Principles
2. The Economist's Tool Kit—3 Core Concepts
3. The Myth of "True Value"
4. Incentives and Optimal Choice
5. False Incentives, Real Harm
6. The Economics of Ignorance
7. Playing the Odds—Reason in a Risky World
8. The Economics of Information
9. A Matter of Time—Predicting Future Values
10. Think Again—Evaluating Risk in Purchasing
11. Behavioral Economics—What Are We Thinking?
12. Acting like an Economist

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