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Publisher's 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.
©2005 The Teaching Company, LLC (P)2005 The Great Courses
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Customer Reviews

Most Helpful

By Linda Chan on 09-18-13

Econmics, 3rd Edition

What did you love best about Economics, 3rd Edition?

I enjoyed this lecture series. Enough to listen a second time; both for better understanding and for more recall for conversations with friends. The narration was great. Professor Taylor is a gifted speaker. My only negative comment is that this series was produced at least 10 years ago. Audible's release date makes it seem more current.

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26 of 26 people found this review helpful

By Casey on 09-24-13

Really enjoyed this course

What made the experience of listening to Economics, 3rd Edition the most enjoyable?

I've been looking for a way to digest a lot of the economic principles out there and I found it in this course. I consider myself pretty business and economics savvy and wanted something that could help me get my mind around some of the fundamentals that I glazed over in college. The format of this lecture was way better than any book I could find (especially seeing as I kept falling asleep while reading them).

I recommend this course.

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14 of 14 people found this review helpful

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Customer Reviews

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By Alex on 06-02-15

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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3 of 3 people found this review helpful

By Chris on 03-20-15

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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3 of 3 people found this review helpful

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Customer Reviews

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By Esta on 11-29-16

Comprehensive and excellent economics foundation

Where does Economics, 3rd Edition rank among all the audiobooks you’ve listened to so far?

Very high quality and educational book in the fundamentals. It rates toward the top of my audio books I have listened to so far.

What did you like best about this story?

The examples and his ability to keep things "real" and relatively easy to understand and follow.

What does Professor Timothy Taylor bring to the story that you wouldn’t experience if you had only read the book?

He is a very easy and enjoyable individual to listen to and it felt like I was sitting in his lecture hall deeply engrossed in what he was saying.

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1 of 1 people found this review helpful

By Lilli on 02-13-17

Well explained information

Very good information on Economics generally. Timothy Taylor seems to be very passionate about Economics and is quite funny!

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