Economics, 3rd Edition

Course Overview

Understand the fundamentals of micro- and macroeconomics with this comprehensive overview taught by an award-winning professor.

Economic issues affect our lives daily. However, the discussion of economics often leaves us seeking a deeper understanding of its principles. This course offers thirty-six lectures designed to enhance your knowledge and skills in addressing economic issues such as interest rates, unemployment, personal investing, budget deficits, and globalization. No advanced mathematics is required; instead, concepts are explained intuitively and in plain English. The first half of the course explores microeconomics, focusing on the behavior of individuals, households, and firms. The second half covers macroeconomics, examining national and global economic factors. Throughout, you’ll gain insights into today’s most frequently discussed and misunderstood economic matters.

Video Lectures

1. How Economists Think
   • Duration: 32 min
   • Introduction to the unique perspective of economists and key terms.

2. Division of Labor
   • Duration: 31 min
   • The productivity benefits of dividing labor and exchanging goods.

3. Supply and Demand
   • Duration: 31 min
   • Understanding the equilibrium price in market dynamics.

4. Price Floors and Ceilings
   • Duration: 31 min
   • Analysis of how government regulations affect pricing and equity.

5. Elasticity
   • Duration: 31 min
   • Exploring the concept of elasticity in consumer behavior.

• The Labor Market and Wages
  • Duration: 31 min
  • Examining the dynamics of wages in the labor market.

• Financial Markets and Rates of Return
  • Duration: 30 min
  • Insights into capital markets and their role in the economy.

8. Personal Investing
   • Duration: 31 min
   • Considerations for personal financial investments and their risks.

9. From Perfect Competition to Monopoly
   • Duration: 31 min
   • Discussion of competition types and their economic outcomes.

10. Antitrust and Competition Policy
    • Duration: 31 min
    • Government policies to promote competition and prevent monopolies.

11. Regulation and Deregulation
    • Duration: 30 min
    • When regulation is effective and its impact on industries.

12. Negative Externalities and the Environment
    • Duration: 31 min
    • Understanding external costs such as pollution and market responses.

13. Positive Externalities and Technology
    • Duration: 31 min
    • Market solutions for promoting beneficial externalities.

14. Public Goods
    • Duration: 30 min
    • The role and importance of public goods in the economy.

• Poverty and Welfare Programs
  • Duration: 31 min
  • Evaluating effective anti-poverty strategies.

• Inequality
  • Duration: 31 min
  • Discussion of income inequality and its implications.

17. Imperfect Information and Insurance
    • Duration: 31 min
    • Challenges of imperfect information in insurance markets.

• Corporate and Political Governance
  • Duration: 31 min
  • Exploring issues in corporate governance and political control.

• Macroeconomics and GDP
  • Duration: 31 min
  • Overview of macroeconomic goals and GDP as a measurement.

• Economic Growth
  • Duration: 31 min
  • Factors influencing long-term economic growth.

• Unemployment
  • Duration: 31 min
  • Understanding the causes and types of unemployment.

• Inflation
  • Duration: 31 min
  • Examining the roots and effects of inflation on the economy.

• The Balance of Trade
  • Duration: 31 min
  • Analysis of trade deficits and their significance.

24. Aggregate Supply and Aggregate Demand
    • Duration: 31 min
    • How aggregate models explain macroeconomic relationships.

• The Unemployment-Inflation Tradeoff
  • Duration: 30 min
  • Discussing the Phillips curve and its historical context.

26. Fiscal Policy and Budget Deficits
    • Duration: 30 min
    • Trends in federal budgeting and their implications.

27. Countercyclical Fiscal Policy
    • Duration: 31 min
    • How fiscal policies can stabilize the economy.

28. Budget Deficits and National Saving
    • Duration: 31 min
    • Long-term effects of government budget deficits.

• Money and Banking
  • Duration: 30 min
  • Understanding the role of money in modern economies.

30. The Federal Reserve and Its Powers
    • Duration: 31 min
    • The Federal Reserve’s influence on the U.S. economy.

31. The Conduct of Monetary Policy
    • Duration: 31 min
    • Debates over how the Fed should manage monetary policy.

• The Gains of International Trade
  • Duration: 31 min
  • Benefits of foreign trade and global economic integration.

33. The Debates over Protectionism
    • Duration: 31 min
    • Analyzing arguments for and against trade protectionism.

34. Exchange Rates
    • Duration: 31 min
    • The significance of exchange rates in international economics.

• International Financial Crashes
  • Duration: 31 min
  • Factors contributing to recent financial crises and preventive measures.

36. A Global Economic Perspective
    • Duration: 32 min
    • Prospects for global economic growth in the coming decades.