dynamics of first-order networks
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This lecture begins a series describing the development of organic chemistry in chronological order, beginning with the father of modern chemistry, Lavoisier. The focus is to understand the logic of the development of modern theory, technique and nomenclature so as to use them more effectively. Chemistry begins before Lavoisier's "Chemical Revolution," with the practice of ancient technology and alchemy, and with discoveries like those of ...more
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In order to understand the precise predictions of the Leverage Cycle theory, in this last class we explicitly solve two mathematical examples of leverage cycles. We show how supply and demand determine leverage as well as the interest rate, and how impatience and volatility play crucial roles in setting the interest rate and the leverage. Mathematically, the model helps us identify the three key elements of a crisis. First, scary bad news ...more
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One of the central questions in assessing Stalinism is whether or not the abuses of the latter were already present in the first years of the Russian Revolution. The archival evidence suggests that this is partly the case, and that even in its early stages Soviet Russia actively persecuted not just those who were believed to have profited unfairly, without laboring, but also non-Russian ethnic groups. Stalin, although not an ethnic Russian...more
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Part 1 - What's a Fair Start?: Rawls argues that even meritocracy—a distributive system that rewards effort—doesn’t go far enough in leveling the playing field because those who are naturally gifted will always get ahead. Furthermore, says Rawls, the naturally gifted can’t claim much credit because their success often depends on factors as arbitrary as birth order. Sandel makes Rawls’s point when he asks the students who were first born i...more
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This lecture is about optimal exercise strategies for callable bonds, which are bonds bundled with an option that allows the borrower to pay back the loan early, if she chooses. Using backward induction, we calculate the borrower's optimal strategy and the value of the option. As with the simple examples in the previous lecture, the option value turns out to be very large. The most important callable bond is the fixed rate amortizing mortg...more
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Professor Shiller, in his final lecture, reviews some of the most important tools for individual risk management. Significant inequality in domestic and international communities has created a need for social insurance programs, such as those created in Germany in the late 1800s. The tax system, bankruptcy laws, and government insurance programs are used to manage risk of personal wealth. However, each of these inventions must take account...more
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Professor Mazzotta continues his discussion of the Heaven of the Sun (Paradise X-IV), where the earthly disputes between the Franciscan and Dominican orders give way to mutual praise. The tribute St. Thomas pays to the founder of the Franciscan order (Paradise XI) is repaid by St. Bonaventure through his homage to St. Dominic (Paradise XII). The chiasmic structure of these cantos is reinforced by the presence of Nathan and Joachim of Flora...more
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Professor Diamond continues her discussion of human muscle systems, addressing muscles of the trunk and upper extremity. Professor Diamond begins by discussing the trapezius, its origin and insertion, and how this relates to its function as an adductor. She encourages students to engage in self-study in order to grasp muscular form and function. She then explains the origin and insertion of the latissimus dorsi, pectoralis major, and de...more
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Early Modern England: Politics, Religion, and Society under the Tudors and Stuarts (HIST 251)Professor Wrightson begins by discussing recent trends in English political history, which has expanded from focusing solely on institutions to include analysis of political culture. After this, the formal institutions of government, such as the various law courts, the offices of royal administration, and Parliament, are briefly defined and situate...more
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October 26, 2007 lecture by Paul Tang for the Stanford University Human-Computer Interaction Seminar. Even more fragmented than American health care is the management of health care information. Faced with a barrage of poorly organized health information, physicians and other clinicians must sift through uninspired displays to glean pearls of information necessary to make clinical decisions. New tools for information gathering from patient...more
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Most people are not very good at dealing in financial markets. Professional money managers, such as financial advisors and financial planners, assist individuals in matters of personal finance. FINRA and the SEC monitor the activities of these managers in order to protect individual investors. Mutual funds, exchange traded funds also exist to assist individual investments, and pension funds provide further services. These investment instit...more
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The form of medicine that arose in fifth-century Greece, associated with the name of Hippocrates and later popularized by Galen, marked a major innovation in the treatment of disease. Unlike supernatural theories of disease, Hippocrates' method involved seeking the causes of illness in natural factors. This method rested upon an analogy between the order of the universe and the composition of the body's "humors." Health, on this view, was ...more
