Core-025 Math Basics for Economics
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About Core-025 Math Basics for Economics
About the Teacher
Jay Moulton
Jay Moulton is a business veteran. In short:
- Corporate finance and turnaround expert in U.S. and Canada
- CEO or operator of numerous companies in many industries
- 30 years of actually applying business economics principles
- Successfully led and invested in several leveraged buyouts
- Director or advisor to 30+ different companies
- Experience in both for-profit and not-for-profit sectors
- Producer of 700 professional videos and several TV shows
- Author of six economics and business strategy books
- Graduate of Harvard Business School MBA program
- Graduate of The Royal Military College of Canada
- Professional electrical engineer
- Governor of the Harvard Club of British Columbia
Math Basics for Economics
MODULE 1
Introduction to Lines
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A straight line is plotted, using the price and size of coffee. The amount of coffee you get depends on the amount of money you spend.The more money you spend, the more coffee you get. The less money you spend, the less coffee you get.
Using our coffee example, we measure slopes of lines. Slope is the slant of a line on a graph. We find this by measuring a line’s rise over run. This simply means how much a line rises or falls over a distance.
Slopes and Intersections
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Sometimes a line slopes down instead of up. When this happens, your rise over run is negative and we call this a negative slope. When a line is flat, this line has a zero slope. A vertical line has an infinite slope.
An intersection is a point where two things meet. It could be two lines or two streets. In the world of economics, the intersection of two lines often helps us find a solution to a problem.
Curves and Fractions
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Complex situations usually don’t show up on your graph as a straight line. Unlike a straight line, a curved line does not have a constant slope. In one curved line, you may find a positive slope and a negative slope, instead of just one or the other.
A fraction's top number is the numerator, and the bottom number is the denominator. To multiply a fraction, you multiply the two numerators and the two denominators. To divide, you flip the second fraction and multiply.
This assessment will test your knowledge of Public Goods.
This assessment will test your knowledge of Public Goods.
Time Value of Money
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In this lesson, you will learn to: Describe the differences between public goods and private goods
M&M candies are used to show the power of compound interest. Future consumption can be dramatically increased by sacrificing current consumption.
Present value of money versus the future value of money is reviewed, using the cost analysis of a metal roof versus that of an inferior asphalt roof.
A concise analysis of the metal and asphalt roofs in nominal dollars.
A concise analysis of the metal and asphalt roofs using present values.
This assessment will test your knowledge of Public Goods.
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