One of our goals here at The Baseline Scenario is to explain basic economics, finance, and business concepts and how they apply to the things you read about in the newspaper. I think I’m pretty good at this. But if you prefer video and diagrams, I may have found something much better (thanks to a reader suggestion).
Salman Khan has created dozens of YouTube videos covering the basics of banking, finance, and the credit crisis. (There is also a series on the Geithner Plan that doesn’t seem to be on the main index page yet.) I’ve only watched a few, but they are very clear and from what I can see everything looks accurate.
But what’s really exciting is that he also has many, many more videos on math – from pre-algebra through linear algebra and differential equations – and physics. My wife and I watched the one on the chain rule and implicit differentiation and she gave it two thumbs up. (My wife is an economics and statistics professor.) So the next time you – or your child – needs to derive the quadratic formula, just head on over to his web site. Hours and hours of fun.
By James Kwak