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Economics, 3rd Edition cover art

Economics, 3rd Edition

By: Timothy Taylor, The Great Courses
Narrated by: Timothy Taylor
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Summary

Economic issues are active in our lives every day. However, when the subject of economics comes up in conversation or on the news, we can find ourselves longing for a more sophisticated understanding of the fundamentals of economics.

These thirty-six lectures will help you think about and discuss economic issues that affect you and the nation every day-interest rates, unemployment, personal investing, budget deficits, globalization, and many more-with a greater level of knowledge and sophistication. They require no special or advanced knowledge of mathematics. Instead, you'll learn economics through intuitive explanations and in plain English.

Professor Taylor's first 18 lectures focus on "microeconomics," or looking at economics "from the bottom up." You'll study the behavior of individuals, households, and firms; and how they interact in markets for goods, labor, and saving and investment. Topics in microeconomics include: supply and demand in the free market, monopolies and regulated competition, and public goods.

The second eighteen lectures cover "macroeconomics," or studying the economy "from the top down." Here you will examine the factors that help economists evaluate the economy on a national and global scale. Among these macroeconomic issues are: common ways the government taxes and spends, the relationship between employment and inflation, and international exchange rates.

Throughout, Professor Taylor helps you apply what you are learning to many of today's most frequently discussed and misunderstood issues.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.

©2005 The Teaching Company, LLC (P)2005 The Great Courses

What listeners say about Economics, 3rd Edition

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Enjoyable high level economics course

Good course for a refresher or introduction with broad but reasonably high level content. Deliver is engaging, enthusiastic and sometimes entertaining. Originally delivered around 20 years ago some aspects are a bit dated or lack more recent developments. However, if this is taken into account when listening the historical context adds an extra dimension of interest.

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  • YB
  • 12-04-15

Economics as it should be taught...

If you could sum up Economics, 3rd Edition in three words, what would they be?

Economics explained, understood

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Was there a moment in the book that particularly moved you?

GW Bush's tax cut policy as an example of the difficulty of discretionary fiscal policy drove the point home.

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great audio book

loved it. Timothy Taylor is awesome, his explanations are clear and he makes it interesting and engaging to listen to.

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Listen if seeking an understanding of economic.

A whole lot of information, gives a lot of clarity on American centered economic issues and how the US economy affects the rest of the world.

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Introduction to Economics

I think it is very difficult to give an over view of economics in a short course although this is a good attempt. For an economics novice like me it would be better if historical examples were given as well as a bit more on the people behind economic theory eg Keynes and Freedman. A comparison between theories would have been helpful to provide analysis. I feel this should have been longer than the current length. It did leave me wanting a bit more of an explanation.

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Economics turns out to be interesting

A fantastic course and a lot more interesting than I expected, the course came out in 2006, so before the 2008 crash, and is thus quite optimistic about certain things. The first half is about micro economy e.g. how salaries are set, how supply and demand operate etc. This was my favourite part and very eye opening and easy to understand. The second half is about macroeconomics i.e. the economy as a whole so tax policy, trade policy, government policy etc, the second half helped me to understand a lot of issues that we face every day and the tradeoffs that are involved, this side is a bit harder to understand and thus sometimes a bit dry, but it's extremely important stuff and the professor explains it very clearly.

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Good introduction

As a beginner to economics I found this to be a good introduction to the subject. It's mostly easy to understand (though with a few more confusing lectures) and I definitely feel I know a lot more than I did when I started. I now read news articles relating to the economy and at least somewhat understand what they're talking about. I think this is a good foundational course to get started which I will build on with other resources.


I was disappointed to see no mention of other possible economic systems, but as far as I'm aware that's par for the course for a lot of economics lectures. It was also quite dry at times and could have benefitted from more examples of how people are affected in the real world to keep it more engaging. It also feels a bit dated sometimes since it's from 2005, and it's VERY US-centric.


Overall it was worth listening to though.

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good but needs an update

really enjoyed this series, helped me understand a lot of things about economics, but seems a little out of date and needs to be a 4th edition, what with the state of the world post 2008 post covid, post bitcoin, crypto,and digital currency.

would recommend this to anyone, really interesting and at no point was i lost, deals with some complicated ideas vis global trade.

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A great introduction

If you’re looking for an introduction to economics, it should be a great start. It was for me. The lecturer isn’t the most charismatic of speakers but he explains most points well enough, and I feel does a good job of inscribing an overall sense of fundamental economics. For beginners.

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Excellent introduction to a difficult topic

It manages to provide a very good introduction to the basic concepts of Economics, without maths, charts or graphics.

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