So course improvements, anyway. So, that’s it. Are there any questions about how the course runs, or how I will run it, or whether you think you should take the course or whether your preparations – So, if you haven’t taken ECON 115 it’s okay, but you’ve got to be confident that you can solve problems, otherwise don’t do it. Any questions?
So, the first problem set will be assigned next Tuesday?
Yeah, so next Tuesday it’s going to be due the Tuesday after. So, I know that’s early but you probably already know whether you’re going to take the course or not. Yes?
Will you teach this next year?
Will I teach it next year? Actually, I probably won’t because I’m going to go on leave, but I might, but probably not. Someone else will teach it. Yes?
Which of the books do you suggest that we buy?
They’re all good. They’re all famous people who’ve written. They’re trying to sell copies so they’re pitch at a quite low level, but they’re very good. Anyone of them is good. Merton’s book is good. Steve Ross is a friend of mine. He used to teach at Yale, so his book is good. So any one of those is very quite good, but they’re not quite at the same mathematical level because they’re trying to sell thousands of books and they stick pretty closely to this financial view of the world that everything is efficient. Yes?
Will the taped lectures be available online?
That’s a good question. I don’t think so. No, they’re shaking their head. So, it won’t be in time for you, but it will be if you want to look back in your old age, “I was there. I saw the leverage cycle.” Sorry. Yes?
Are the lecture slides posted before or after the lecture?
Oh, the lecture notes are all posted already before the class. So, the first twelve of them are there and I’m changing them each year, so there’ll be some changes. So, last year’s first twelve are there they might change a little bit, but you can already get an idea of what they’re about. This first lecture is not on, but the first of them are. Any other questions? Yes?
When do we sign up for the TA sessions?
Oh, you should be signing up now. I don’t know how to do this. It’s online or something, right? You sign up online. Yeah, so you should pick up your sections. We might add another section if all of you stay, but probably you won’t, but if we do, we’ll add another TA section. Yes?
What’s the grade distribution?
The grade distribution, I don’t know. The standard Yale junior level course grade distribution, which is when I was at Yale things were much tougher, so it’s the standard distribution. I don’t remember it offhand. But I’ll tell you all about the distribution at the midterm. So, there will be a midterm before – you’ll have chance to drop the course after the midterm and then there will be another midterm right at the end of the course. Yes?
What level of math and type of math should we be comfortable with to take the course?
I was trying to say that. I’m glad you ask me again. So, I went over the things that you have to know. If you have 3x-4x^(2), you have to be able to take the derivative of that which is 3-8x. If you’ve got the log natural of x, you have to take the derivative. It’s one over x. if you’ve got 3x+5=10 and 2x-7=12, you have to be able to solve that simultaneous equation. So, that’s the kind of thing you have to do and you have to be able to do it quickly and with total confidence that you’re doing it right. And for many of you that’s no problem, but for some of you who are maybe even smarter than everybody else, that’s a problem and so you’ll have to judge yourself whether you can do that comfortably so you don’t have to worry about the mechanics of doing that. You can think conceptually about what the question is asking.
Finance: Logistics Pt 2