Many students who study economics claim that it is their least favorite class. They learn formulas and memorize charts without ever being exposed to theory. Worse yet, they never learn the personal component of economics. Economics deals with why people, products, and economies behave in a certain way and how they interact with each other. It is an exciting topic when it is taught the proper way.
People who learn best by reading should visit their local library or a bookstore and get books about basic economics. Non-textbooks break down the concepts into layman’s terms, relating them to situations that we regularly face. There is even a free textbook written by Caltech economics professor R. Preston McAfee that can be downloaded online (and modified) at no charge.
Audio learners will enjoy Economics 101, a fun way to learn about economics for $15. The audio CD includes ten hours of speeches and lectures delivered by Murray N. Rothbard between the early 1970s and early 1990s. Each lecture builds upon the one prior and the end of the audio lesson provides a two-hour explanation regarding banking.
The Mises Academy is one of the best online economics resources. Learners get the real scoop about economics from actual economists. Founded in 2010, the Academy is the online teaching branch of the Ludwig von Mises Institute. Once the student has completed the general economic courses, there are specialized topics that may be of interest.
Whether your preferred learning environment is online, in the car, or on the couch, there is a way for you to learn basic economics. Once you have done so, you will be ready to make some investments like taking the opportunity to buy gold coins and undervalued gold stocks. With a basic understanding of economic principles, your likelihood of investment success is increased.