Kinetic Gas Theory
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Professor Shapiro explains the format and structure of the class during this opening session. He reviews the syllabus, and asks the central question of the course: What makes a government legitimate? He briefly explains the five ways to answer this question that he will focus on throughout the semester. The first three traditions are those of the Enlightenment: utilitarianism, Marxism, and social contract theory. The fourth and fifth overa...more
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Insurance provides significant risk management to a broad public, and is an essential tool for promoting human welfare. By pooling large numbers of independent or low-correlated risks, insurance providers can minimize overall risk. The risk management is tailored to individual circumstances and reflects centuries of insurance industry experience with real risks and with moral hazard and selection bias issues. Probability theory and statist...more
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Financial Markets (2011) (ECON 252) Professor Shiller provides a description of the course, including its general theme, the relevant textbooks, as well as the interplay of his course with Professor Geanakoplos's course "Economics 251--Financial Theory."
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We introduce Game Theory by playing a game. We organize the game into players, their strategies, and their goals or payoffs; and we learn that we should decide what our goals are before we make choices. With some plausible payoffs, our game is a prisoners' dilemma. We learn that we should never choose a dominated strategy; but that rational play by rational players can lead to bad outcomes. We discuss some prisoners' dilemmas in the real w...more
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In this first lecture, Professor Paul Fry explores the course's title in three parts. The relationship between theory and philosophy, the question of what literature is and does, and what constitutes an introduction are interrogated. The professor then situates the emergence of literary theory in the history of modern criticism and, through an analysis of major thinkers such as Marx, Nietzsche, and Freud, provides antecedents for twentieth...more
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In this second introductory lecture, Professor Paul Fry explores the interrelation of skepticism and determinism. The nature of discourse and the related issue of discursivity is read through two modern works, Anton Chekov's Cherry Orchard and Henry James' The Ambassadors. Exemplary critical focus on literary authority is located in Michel Foucault's "What Is an Author" and Roland Barthes' "The Death of the Author," both of which are read ...more
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This is the first of a series of lectures on relativity. The lecture begins with a historical overview and goes into problems that aim to describe a single event as seen by two independent observers. Maxwell's theory, as well as the Galilean and Lorentz transformations are also discussed.
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More on work. Introduction to Kinetic and Potential Energies.
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Building on the general equilibrium setup solved in the last week, this lecture looks in depth at the relationships between productivity, patience, prices, allocations, and nominal and real interest rates. The solutions are given to three of Fisher's famous examples: What happens to interest rates when people become more or less patient? What happens when they expect to receive windfall riches sometime in the future? And, what happens when...more
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Geography is very important in ecology. Two major systems have been designed to model this, island biogeography and metapopulations. The idea of metapopulations is more recent, and has emerged as the dominant theory. Metapopulations are populations in multiple neighboring areas. The population of a species in any individual area may go extinct, but the metapopulation still survives. The theory of metapopulations has gained momentum in rece...more
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In this lecture on psychoanalytic criticism, Professor Paul Fry explores the work of Jacques Lacan. Lacan's interest in Freud and distaste for post-Freudian "ego psychologists" are briefly mentioned, and his clinical work on "the mirror stage" is discussed in depth. The relationship in Lacanian thought, between metaphor and metonymy is explored through the image of the point de capiton. The correlation between language and the unconscious,...more
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