Saturday, 7 March 2009

Free textbook

Interested to know more about the concept of supply and demand; the meaning of market imperfections or about the producer theory, etc? Well, if you are keen to know these social science and economic concepts, Professor from Caltech, R. Preston McAfee has given a great offer to readers to download a digital economic textbook, Introduction to Economic Analysis, for free.

To educate and share his experience in the economic theories, Prof R. Preston McAfee has written this so called ‘open source’ economic textbook. Readers can download the textbook for free in pdf format

via the link here. If users want to challenge the content by modifying it, users can get a ‘source code’ word document via the link here. However, users who get the word document format are not allowed to do anything commercially.

There are 328 pages and 8 topics in this economic textbook. As highlighted by the professor, this economic text book basically presents the economics principles using standard mathematical tools such as calculus. This book is suitable for readers who are keen to learn more about economics theory as well as undergraduates who have not taken a basic university course in economics. Flipping through the book you can see there is a lot of hard work and effort put into it. The content is comprehensive and there are lots of models and equations but no pictures of economists.

Knowledge is something that human beings are generally selfish to share. Prof R. Preston McAfee has done a good job. Read what he noted in the LA Times article:

“What makes us rich as a society is what we know and what we can do. Anything that stands in the way of the dissemination of knowledge is a real problem.”

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Approach to teaching

Methods there are many, principles but few, methods often change, principles never do