The Teaching Company Video – Economics
Genre: E-Learning
We are all economists—when we work, buy, save, invest, pay taxes, and vote. It repays us many times over to be good economists.
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.
* How can I get an overview of the entire U.S. economy?
* Why do budget deficits matter?
* What exactly does the Federal Reserve do?
* Why do most economists favor international trade so strongly?
Economics, 3rd Edition, will help you think about and discuss these and other 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.
Designed for those who haven’t already purchased our 2nd Edition economics course, this enlarged and reorganized 3rd Edition includes updated statistics and discussions of more recent events. It also features expanded coverage in areas of great public interest, such as anti-trust issues, corporate responsibility, and international financial crashes.
Master the Basics of Economics
These lectures require no special or advanced knowledge of mathematics. Instead, you will learn economics through intuitive explanations and in plain English, from an instructor who has won teaching awards at Stanford and the University of Minnesota.
Professor Timothy Taylor’s first 18 lectures focus on “microeconomics,” or looking at economics “from the bottom up.” You will 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:
* How does supply and demand operate in the free market to determine the prices of the goods we buy and the salaries we are paid?
* How are interest rates determined? And what effects do they have on so many decisions we make—such as what house we will buy?
* How do businesses compete with one another? What is a natural monopoly? What role does government have to play in encouraging and regulating competition?
* Defining “public goods”—things like national defense and education—that we all benefit from whether we contribute to them or not. The difficulty of encouraging citizens to support production of public goods can be understood through a game theory problem known as the prisoner’s dilemma.
The second half of the course covers “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, and how these actions affect the total demand and supply in our economy
* The relationship between employment and inflation, and the different perspectives on this problem advanced by the two main schools of economic theory—the Keynesians and the neoclassicists
* International economics: What are the arguments for and against international trade? How are exchange rates determined and what do they really mean to us as individuals and the economy in general? What are the future prospects for the global economy—which nations are likely to do well and which will lag behind?
Throughout this course, Professor Taylor helps you apply what you are learning to many of today’s most frequently discussed and misunderstood issues. Has the world economy become truly borderless, and does globalization take jobs away from American workers? Why do markets for car and health insurance often seem so costly and controversial? What are our prospects for heading off the Social Security and healthcare crises that loom in the coming decades?
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