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

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.

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.

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.

From a math hater, highly recomended

Would you listen to Economics, 3rd Edition again? Why?

Absolutely, I learned so much about controlling finances and maneuvering the stock market, retirement tips, etc.

Any additional comments?

I had just got a job as a bank teller, so I decided it might be prudent to learn a little about the financial industry. To my surprise, Professor Taylor was an absolute joy to listen to. He had a way of explaining things that appealed to a layman like myself, and I walked away the better for it.

IF ONLY AUDIBLE.COM PROVIDED THE NECESSARY ETEXT

Would you recommend this book to a friend? Why or why not?

THIS IS AN AMAZING INTRODUCTION TO ECONOMICS THAT WONT PUT YOU TO SLEEP BUT I WOULD NOT HAVE PURCHASED IT IF I KNEW THAT AUDIBLE.COM DOES NOT GIVE YOU ALL OF THE SUPPLIMENTARY DOCUMENTS OR EVEN AN ETEXT TO FOLLOW.

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

THE PROF IS VERY ENTERTAINING

Which scene was your favorite?

NONE IM A NERD

Do you think Economics, 3rd Edition needs a follow-up book? Why or why not?

NEEDS TO COME WITH SUPPLEMENTARY TEXT AND YES A FOLLOW UP THERE IS MUCH MORE TO SAY

Any additional comments?

I WANT ACCESS TO ALL THE SUPPLIMENTARY TEXT THE AUDIO REFERS TO AND IF THERE IS SUPPLIMENTARY MATERIAL THAT AUDIBLE.COM DOES NOT GRANT THERE SHOULD BE A WARNING

Easy to understand,great prep for a college course

The author has great examples that illustrate the concepts in an easy to understand manner. It was enjoyable!

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.

Good read

1. Listening reader at 1.15 speed has a good drive and energy.
2. The material is explained nicely and have definitely learned something new.

A good primer on Economics

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

This course is a good primer on Economics. The lectures are well-organized and coherently presented. This is a very good listen for a beginner to Economics or someone looking for a refresher course.

Outstanding, albeit dated, primer on economics.

Would you recommend this audiobook to a friend? If so, why?

Yes, provides a soid foundation of economic concepts. I would warn that the information is slightly dated (recorded in 2005 I believe), which means some of the lessons learned from the most recent economic problems of the world won't be covered. That said, the lecturer provides ample theoretical and historical examples for most concepts, which helped made difficult concepts clear.

Who was your favorite character and why?

N/A

What about Professor Timothy Taylor’s performance did you like?

Did a great job of making the rather dull topic interesting. The jokes he told to break up the topic, while not standup material, were humorous enough that I found them enjoyable. Gave frequent examples, both theoretical and historical, to put the concepts in the real world. Great work all around.

Was this a book you wanted to listen to all in one sitting?

Probably not. I firmly believe the lecturer did a great job, one can only handle so much economics before the eyelids get heavy. But in his defense, I'm not sure anyone could liven up the topic enough to justify 18hrs straight of econ.

Any additional comments?

Great for learning what not to fall for in news reports. Also, did a great job of not getting too into politics. Bravo!

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.

Extremely basic

Over Simplistic and basic. There are much better free lectures on edx and YouTube that I would recommended over this,

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.

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.

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'.

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.

Fantastic course

I'm rating it after just a few chapters. Great and engaging reminder of the concepts and applications

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

Economics, made easy

A good book on economics, well explained and easy to listen to for each section.
worth the money.

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.