Economics, 3rd Edition

By: Timothy Taylor, The Great Courses

Narrated by: Timothy Taylor

Length: 18 hrs and 36 mins

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.

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

Thorough but basic

It was a good reminder of what I had learned in Dutch high school economics, presented in an interesting manner, but nothing I hadn't known at some earlier date - although I had forgotten some of it.

Excellent

Doubled my knowledge on the subject of economics! There were a few chapters towards the end that I had to listen to a couple of times to grasp the concepts but overall professor Taylor did an excellent job of explaining things so well such that prior knowledge on economics is not required.

Great overview of economics

The book explains all of the important topics in micro and macro economics in 30 minutes lectures. This gives a good overview of the economic discipline.

Don’t let my rating dissuade you

It’s not a bad book, but the narrator was driving me nuts. His voice would be fine for a live classroom setting, but for audio? Not for me, although YMMV. And, honestly, I really wasn’t learning much of anything I didn’t already know - and I say that as someone who didn’t take an economics class in college. I got through 2/3 of the book and gave up.

Solid Foundation

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

The course was well organized and provided a useful PDF.

What did you like best about this story?

The best parts of the 'story' were the lectures on trade, fiscal policy, and the summary of the final lecture.

Have you listened to any of Professor Timothy Taylor’s other performances before? How does this one compare?

This is the first lecture that I've listened to by Professor Taylor.

If you could give Economics, 3rd Edition a new subtitle, what would it be?

Economics, 3rd Edition 2005

Any additional comments?

This course was for the individual seeking a basic level of sophistication in economic matters. I definitely fit that bill. As with the many other Great Courses, this one delivered as promised. It was well organized with each topic built on top of each other and the PDF provided proved to be an excellent pre-read. The 1st 18 lectures focused on microeconomics and the 2nd 18 focused on macroeconomics.

I was particularly interested in topics of Labor Markets, Antitrust Policy, Poverty and Welfare, Fiscal Policy, and Free Trade. I finished the course with a stronger appreciation for the 'package of ingredients' required for economic growth: building human capital, build physical capital, creating new technologies, and maintaining strong legal and financial infrastructure for supporting markets.

The only issue I have is that this course was first published in 2005 which means no analysis is provided concerning the 2008 Financial Crisis. It would have been great to get his perspective within these lectures. Fortunately, I now feel that I have a strong enough economic foundation to see seek other texts that cover this period.

Prescient

Should be required listening for all voters and politicians alike. Developed and produced before the financial crisis, before the Trump protectionist folly, and before the new hard left wave approaching -- the insights are prescient. To wit: speaking in 2004 Taylor remarks that the housing appears to be in a bubble and he expects it to end poorly. Note: this wasn't political leanings or preference. Rather, it was just hard nosed understanding of economic principles. Alas, I would love to hear Professor Taylor produce a 4th edition that would discuss the previous 10 years of economic history.

Excellent summary

Very easy to follow and a great introduction to the world of economics. Rather long, but worth it if you want to catch onto economics. Professor Timothy Taylor is excellent at presenting the stuff and I must admit I was lost sometimes, which indicates to me I probably should do a second listening. Excellent course.

Fascinating lectures on macro and micro economics

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

comprehensive, entertaining, intuitive

What did you like best about this story?

This audiobook is not a book per se, but a series of lectures as performed by Professor Timothy Taylor. The lectures last about 30 minutes and each one covers a different concept of micro and macro economics. Professor Taylor is an endlessly captivating lecturer, and I would often lose track of time when listening to some of his lectures. He turns economic lectures into 30 minute stories with examples from every day life.

Which character – as performed by Professor Timothy Taylor – was your favorite?

Professor Taylor is one of the best lecturers I have ever listened to.

If you were to make a film of this book, what would the tag line be?

Think like an economist

Economics Explained

Would you consider the audio edition of Economics, 3rd Edition to be better than the print version?

Yes, I wasn't sure there was a print version, but the audio version was entertaining, engaging and educational.

What was one of the most memorable moments of Economics, 3rd Edition?

I really enjoyed his explanation on why it is to the benefit of everyone to share and divide labor. That even if you can do something better than another country, but you really excel at something else that they can't do, you should let them do what they can, (even if you can do it better) and concentrate on what you can do best.

Have you listened to any of Professor Timothy Taylor’s other performances before? How does this one compare?

I have not listened to Professor Timothy Taylor's other performances. But I found this performance to be well done.

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

I can't say there was anything there that particularly moved me. It's economics after all.

Any additional comments?

This was a great discussion of economics and the many different facets of economics. It has a way of making you consider aspects you might not otherwise consider when you are watching the news or whatnot.

Interesting overview of Economic Concpets

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

The insights into how the economy functions, and how to think more critically about information I hear in the news, from politicians, etc.

Any additional comments?

Good choice if you want an overview of Economic concepts. Nice foundation for further reading.