Description:

Economics has been called the “Dismal Science,” yet it is also deemed a field worthy of a Nobel Prize. In this enlightening course, Prof. Ellerbrock explains the reason behind this dichotomy: the fact that economics reveals the best and worst implications of humans pursuing their own self-interest. The director of the Center for Economic Education at Virginia Tech, Prof. Ellerbrock has encyclopedic knowledge of economic principles and a talent for explaining their relevance to the world around us. The first twelve lectures explore macroeconomics, the study of the institutions and relationships in economic systems. You’ll examine fiscal and monetary policy, the role of government in the economy, deficit financing, unemployment, international trade, and wealth creation. Next, you will zoom in with twelve lectures on microeconomics, which studies the behavior of individuals. You’ll look at the consumer, firm, saver, and investor, as well as market structures and functions, examining emerging schools of thought regarding population economics, natural resource economics, and development economics. Prof. Ellerbrock is known for his dynamic lectures, which use real-world examples to bring abstract principles to vivid life. As you take in each masterful recording, you’ll use the lens of economics to better understand history as well as the contemporary moment.