Foreword
Welcome to Econ 50! This interactive “textbook” comprises readings to prepare you for lectures in Econ 50 and 50Q at Stanford University in the Fall of 2024. The textbook is organized by lecture: that is, each “chapter” corresponds to a single lecture, which should make it clear what reading needs to be done ahead of that lecture.
Advice on how closely to read the textbook
There is a quiz on each reading due before class; please find this in Canvas. I do not expect you to master the material by doing the reading. The quiz is meant to (a) give you an incentive to read before coming to class, which will make class much more productive to your learning; and (b) give you a heads up about the tricky bits that trip up most students. But do NOT feel you have to memorize the readings or fully understand the material just from having read the textbook!
Interactivity and printing
You’ll notice that the diagrams in the textbook are interactive; this is meant to encourage exploration, especially of how changes in underlying parameters of a graph affect the graph’s appearance. Because of the interactivity, it may be difficult to print out the textbook; sorry about that.
Changes for Fall 2024
We’re doing a number of things differently this quarter, so the readings are evolving in two ways:
- We’re teaching the basics of multivariable calculus within the course itself, rather than having it as a prerequisite. Therefore the mathematical appendices which have been available for reference have been moved into the body of the text.
- For students who already have a strong foundation in multivariate calculus, we are offering the option of a more quantitative “flavor” of the course, 50Q. Some subsections of each chapter cover material meant for Econ 50Q, and will be indicated as such; if you’re not in 50Q, you’re welcome to skip them or read them out of interest.
Because the approach is new to this quarter, I expect the textbook to be updated throughout the term. Also, if you spot a typo, or find an explanation confusing, please submit a note using the link at the top of each page; we’ll work to fix it ASAP.