University of Wisconsin-Madison finance professor Randall Wright will lead the second pilot Massive Open Online Course at the university titled “Markets with Frictions,” set to begin Oct. 30.
A MOOC is an online course aimed at garnering large-scale participation from all over the world. The courses use multimedia presentations and foster learning through online interaction among students. They are free and open to anyone, including current UW-Madison students.
Wright, a professor in the Wisconsin School of Business, said in a news release he was interested in reaching people curious of how the economy works, but who may not have the time or resources to earn a degree in economics. He also wanted to give students an opportunity to learn about the impact of market frictions.
Frictions in the global or national markets are costs, constraints and other issues that make positive outcomes difficult and lead to a less-than-ideal market.
Already, more than 22,000 people from around the world have signed up for the course.
