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Economics, 3rd Edition
- Narrated by: Timothy Taylor
- Length: 18 hrs and 36 mins
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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.
What listeners say about Economics, 3rd Edition
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- Chris
- 20-03-15
Very good introduction to the dismal science
I came to this course slightly skeptical because of the topic. Economics is a subject that uses graphs and formulae a lot and so can tend to not lend itself well to audio without video. However, Prof. Taylor does a brilliant job of avoiding these issues. When a graph is unavoidable (e.g. supply and demand), he describes it simply and it is very easy to get what he is saying. As for equations, I think there are only two in the course and they are extremely simple and he explains them in words very well.
The course is split between micro- and macro-economics. The first half is micro- so people and businesses and how we interact. This section was incredibly interesting, but I found a lot of it was already in my brain due to Planet Money podcasts. However, hearing the actual definitions and a wealth of examples made the ideas much more solid and understandable.
The macro- side was absolutely brilliant. The lectures were written before the '07 crash but the theory remains incredibly relevant. This course left me with a much better understanding of the global financial situation, and the differing opinions on how to sort out the various problems. There are even a couple of painful moments where he mentions in passing important causes of the crash and how they concern him!
Economics can be a dry subject. I would definitely not suggest sitting down and listening to these lectures in bulk. However, if you want to understand the news, how businesses think and how you should act with regards to your economic environment, this is a perfect place to start. The Prof also does keep the mood light. I certainly will be looking at the other economics great courses to see more in depth topics.
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8 people found this helpful
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- Alex
- 02-06-15
A very good overview of economics
This lecture series is a very detailed and informative overview of the subject of economics.
One thing to consider though, especially if like me you are listening from the UK, is that the macroeconomics side of the lectures are mainly focused on the American economy. That being said it is still informative enough to know how economics works as a whole.
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7 people found this helpful
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- SJC94
- 01-02-18
Extremely basic
Over Simplistic and basic. There are much better free lectures on edx and YouTube that I would recommended over this,
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6 people found this helpful
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- Andrew
- 07-07-14
Funny & Informative
Would you listen to Economics, 3rd Edition again? Why?
I have listened to it twice already, learning different things with each listen.
What was one of the most memorable moments of Economics, 3rd Edition?
Supply & Demand.
What about Professor Timothy Taylor’s performance did you like?
His enthusiasm towards the subject and his presentation.
Did you have an emotional reaction to this book? Did it make you laugh or cry?
It made me laugh but also challenged the way I thought.
Any additional comments?
It's also a good listen when writing essays on another subject: I am listening to it again.
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4 people found this helpful
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- Michael Kosmides
- 10-07-17
Outdated but interesting
Would you recommend this book to a friend? Why or why not?
No. It's a good primer but outdated (published in 2005) with examples and a sense of optimism that are not relevant any more.
What did you like best about this story?
Great lively performance by prof. Taylor.
Any additional comments?
Better to be listened to/studied with a critical mind that would reveal the problems neoliberal economists have with the 'real world'.
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1 person found this helpful
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- Ducarta
- 13-09-15
Solid foundation,
I loved it, engaging humorous in the right places, and we'll structured. I'd listen again for a refresher. It would have been 5 stars if the materials we provided but you can survive without.
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1 person found this helpful
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- Kanishka Sinha
- 25-08-15
Fantastic course
I'm rating it after just a few chapters. Great and engaging reminder of the concepts and applications
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1 person found this helpful
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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
Who was your favorite character and why?
N/A
Which scene did you most enjoy?
N/A
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.
Any additional comments?
N/A
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1 person found this helpful
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- Myles
- 30-01-15
Economics, made easy
A good book on economics, well explained and easy to listen to for each section.
worth the money.
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1 person found this helpful
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- Mister Peridot
- 29-09-14
Comprehensible
Lucid introduction to economic concepts. Well read by the author in lecture style. Would be more interesting if there was more attempt to relate these concepts to happenings in the real world, economic history in short. Hence just 4 stars.
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1 person found this helpful