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Fundamentals of Economics

This introductory course in Data Science and Economics is based on a Connector Course taught at UC Berkeley as a Connector between the field of Economics and the popular Introduction to Data Science Course. In this first course we cover Demand, Supply , Equilibrium, and Taxes.

This course is of interest to the growing number of students interested in the overlap between Economics and Data Science. The course gives learners a chance to apply programming approaches to economics concepts and gives economics students a chance to strengthen programming skills.

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Learning objectives

Understand basic concepts of economics through programming
Visualize demand and supply curves as deriving from data
Be able to code and solve simple equations in python

Able to graph basic equations used in microeconomics
Applications/ illustrations from topics in the fields of economics

Understand basic concepts of economics through programming
Visualize demand and supply curves as deriving from data
Be able to code and solve simple equations in python
Able to graph basic equations used in microeconomics
Applications/ illustrations from topics in the fields of economics

Good to know

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Course title is suited to the topic of this course

Introduces basic economic concepts of demand, supply, equilibrium, and taxes

Instructors are Eric Van Dusen

Takes a standard approach to teaching economics through programming

Teaches in Python, which is an industry standard

Makes course material relevant by including illustrations from economics

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Fundamentals of Economics with these activities:

Read "Microeconomics by Herman Daly"

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Learning the foundational concepts of microeconomics through reading this book can help you better understand the material in this course.

View Ecological Economics, Second Edition:... on Amazon

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Obtain a copy of the book.
Read the first chapter.
Summarize the main points of the chapter.

Follow Python tutorials on the official Python website

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Following tutorials on the official Python website can help you solidify the programming concepts covered in this course.

Browse courses on Python

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Visit the official Python website.
Select a tutorial on a topic you want to learn.
Follow the tutorial step-by-step.

Solve Python coding exercises on LeetCode

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Practicing coding exercises on LeetCode can help you improve your Python programming skills and strengthen your understanding of programming concepts.

Browse courses on Python

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Create a LeetCode account.
Select a problem to solve.
Write a Python code solution.
Submit your solution.

Three other activities

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Create a visual representation of the supply and demand curves

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Creating a visual representation of the supply and demand curves can help you visualize and understand these important economic concepts.

Browse courses on Supply and Demand

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Gather data on supply and demand.
Choose a graphing tool.
Plot the supply and demand curves.
Analyze the graph.

Join a study group and discuss the course material

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Engaging in discussions with peers can help you clarify your understanding of the course material and gain different perspectives.

Browse courses on Collaboration

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Find a study group.
Meet regularly to discuss the material.
Take turns presenting concepts to the group.

Attend a workshop on Python programming

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Attending a workshop on Python programming can provide you with structured guidance and hands-on practice to enhance your coding skills.

Browse courses on Python

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Find a workshop that aligns with your learning goals.
Register for the workshop.
Attend the workshop and actively participate in the activities.

Career center

Learners who complete Fundamentals of Economics will develop knowledge and skills that may be useful to these careers:

Data Engineer

A Data Engineer designs and builds systems for storing and processing data. They work with data scientists and other professionals to ensure that data is accessible and usable. This course may be useful for aspiring Data Engineers because it provides a foundation in programming, which is essential for working with data. Additionally, the course covers basic concepts of Economics, which can be helpful for understanding the business context of data engineering. Individuals pursuing a career in Data Engineering may find the Economics and programming elements of this course to be helpful foundational knowledge for the field.

See salaries and explore the career path for Data Engineer

Quantitative Analyst

A Quantitative Analyst uses mathematical and statistical techniques to analyze financial data and make investment decisions. This course may be useful for aspiring Quantitative Analysts because it covers basic concepts of Economics, which are essential for understanding financial markets. Additionally, the course provides a foundation in programming, which can be helpful for analyzing financial data. Coursework in Economics and programming makes this an excellent fit for those interested in Quantitative Analysis.

See salaries and explore the career path for Quantitative Analyst

Product Manager

A Product Manager is responsible for the development and launch of new products. They work with engineers, designers, and marketers to ensure that products meet the needs of customers. This course may be helpful for aspiring Product Managers because it covers basic concepts of Economics, which can be helpful for understanding customer behavior. Additionally, the course provides a foundation in programming, which can be helpful for understanding the technical aspects of product development. Product Managers may find the Economics and programming fundamentals gained through this course to be valuable in their work.

See salaries and explore the career path for Product Manager

Economist

An Economist studies the production, distribution, and consumption of goods and services. They use economic theories and models to analyze data and make predictions about the economy. This course is an excellent fit for aspiring Economists because it covers basic concepts of Economics. Additionally, the course provides a foundation in programming, which can be helpful for analyzing economic data. Economists looking to enter the field will be well-prepared by this course.

See salaries and explore the career path for Economist

Software Engineer

A Software Engineer designs, develops, and maintains software systems. They work with other engineers and programmers to create software that meets the needs of users. This course may be useful for aspiring Software Engineers because it provides a foundation in programming, which is essential for working with software. Additionally, the course covers basic concepts of Economics, which can be helpful for understanding the business context of software development. Individuals interested in becoming Software Engineers may find the programming and business fluency gained from this course to be valuable in the field.

See salaries and explore the career path for Software Engineer

Actuary

An Actuary uses mathematical and statistical techniques to assess risk and uncertainty. They work in a variety of industries, including insurance, finance, and consulting. This course may be useful for aspiring Actuaries because it covers basic concepts of Economics, which are essential for understanding risk and uncertainty. Additionally, the course provides a foundation in programming, which can be helpful for analyzing data. Those interested in a career as an Actuary may find this course useful for helping them build a foundation in the field.

See salaries and explore the career path for Actuary

Data Scientist

A Data Scientist uses programming, math and statistics to extract insights from data. They build models to predict future outcomes or recommend actions. This course may be useful for aspiring Data Scientists because it provides a foundation in programming, which is essential for working with data. Additionally, the course covers basic concepts of Economics, which can be helpful for understanding the business context of data analysis. Applicants to Data Scientist roles may stand out by demonstrating Economics knowledge through completion of this course.

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Market Researcher

A Market Researcher conducts research to understand consumer behavior and market trends. They use this information to help businesses make better decisions about products, pricing, and marketing. This course may be helpful for aspiring Market Researchers because it covers basic concepts of Economics, such as demand and supply. Additionally, the course provides a foundation in programming, which can be helpful for analyzing data. Those seeking to enter the field of marketing research may find this course especially helpful for developing both Economics and programming proficiency.

See salaries and explore the career path for Market Researcher

Business Analyst

A Business Analyst works with businesses to improve their operations and processes. They use data analysis and problem-solving skills to identify opportunities for improvement. This course may be useful for aspiring Business Analysts because it covers basic concepts of Economics, which can be helpful for understanding business operations. Additionally, the course provides a foundation in programming, which can be helpful for analyzing data. This course may be especially helpful for individuals seeking a career in business analysis due to its focus on applying Economics to business.

See salaries and explore the career path for Business Analyst

Data Analyst

A Data Analyst uses data to identify trends and patterns. They use this information to help businesses make better decisions. This course may be useful for aspiring Data Analysts because it provides a foundation in programming, which is essential for working with data. Additionally, the course covers basic concepts of Economics, which can be helpful for understanding the business context of data analysis. Individuals seeking to transition to a career in data analysis may find this course particularly valuable due to its emphasis on data analysis.

See salaries and explore the career path for Data Analyst

Financial Analyst

A Financial Analyst evaluates investments and makes recommendations to clients. They use financial data to forecast future performance and identify opportunities for growth. This course may be useful for aspiring Financial Analysts because it covers basic concepts of Economics, which are essential for understanding financial markets. Additionally, the course provides a foundation in programming, which can be helpful for analyzing financial data. Candidates seeking to transition to this field may be well-served by this course for its focus on Economics and programming.

See salaries and explore the career path for Financial Analyst

Consultant

A Consultant provides advice and guidance to businesses and organizations. They use their expertise in a particular area to help clients solve problems and improve performance. This course may be useful for aspiring Consultants because it covers basic concepts of Economics, which can be helpful for understanding business operations. Additionally, the course provides a foundation in programming, which can be helpful for analyzing data. Consultants may find the Economics and programming knowledge gained through this course to be valuable for their work.

See salaries and explore the career path for Consultant

Reading list

We've selected 13 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Fundamentals of Economics.

Introduction To Derivative Securities, Financial...

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Provides supplemental material on microeconomics explained in a clear and systematic manner, with real-world examples and easy-to-understand concepts.

Introduction To Derivative Securities, Financial...

Kindle Edition

Linear Regression

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Complements the course's overview of quantitative methods used in economics, including regression analysis, time series econometrics, and forecasting.

Principles of Microeconomics

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Offers a comprehensive survey of microeconomic principles, with detailed explanations and examples to support the course's coverage of supply and demand, market equilibrium, and consumer choice.

Principles of Microeconomics

Paperback

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Principles of Microeconomics

Kindle Edition

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Introductory Econometrics: Asia-Pacific Edition

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Provides an in-depth introduction to econometric methods, including hypothesis testing, regression analysis, and time series analysis, which can enhance the course's focus on quantitative techniques in economics.

Introductory Econometrics: Asia-Pacific Edition

Paperback

$$$$

Bayesian Econometric Methods

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Provides a comprehensive overview of statistical methods used in economic analysis, enhancing the course's coverage of data collection, analysis, and interpretation.

Fundamentals of Economics

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What's inside

Learning objectives

Good to know

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Activities

Career center

Reading list

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