The Great Courses – The Economics of Uncertainty 2018-10

The Great Courses – The Economics of Uncertainty 2018-10 Downloadly IRSpace

Aug 16, 2025 - 07:13 Updated: Aug 17, 2025 - 19:50

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The Great Courses – The Economics of Uncertainty 2018-10

The Economics of Uncertainty. In one of the most dramatic displays of economic uncertainty of our time, a wave of toxic lending in 2008-2009 nearly brought down the American financial system, and with it jobs and savings. Few experts had predicted the disaster, an event that serves as a lesson in the power of economic forces to challenge our predictions.

Uncertainty also plagues us in smaller ways. For example, everyone is familiar with price increases, but now the Internet has allowed online shoppers to pay more based on their purchase history, adding a new level of unpredictability to pricing. And whenever you hire someone to do a service—from roofing to dentistry—you face the problem of agency, in which the person hired might take unethical advantage of your lack of expertise. In fact, these risks, large and small, are so pervasive that it’s easy to assume there’s nothing you can do. But economic uncertainty is like the weather: You can’t stop storms from happening, but understanding how and why they happen allows you to be prepared. Similarly, economic uncertainty is beyond our control, but if we know what’s happening and why, we’ll be in a much better position to respond.

What you will learn

In this course, participants will be introduced to key concepts in the economics of uncertainty. They will learn how uncertainty affects economic decisions at various levels, from the individual to the macro. The course will explore analytical tools and models that help understand and manage risk and uncertainty. Participants will also be introduced to real-world examples of how uncertainty occurs in financial markets, businesses, and everyday life, and will learn strategies for dealing with it effectively. The course will help them gain a deeper perspective on the dynamics of the economy and make more informed decisions under conditions of uncertainty.

This course is suitable for people who:

This course is suitable for those interested in better understanding the economic forces that govern the world around them. In particular, this course will be useful for students of economics, finance, and management, investors, business owners, managers, and anyone who wants to learn more about how uncertainty affects economic decisions and how to manage it. Also, those seeking a deeper understanding of recent economic events and the lessons learned from them will benefit from the content of this course. There are no specific prerequisites for participation in this course, and the material is presented in a way that is understandable to audiences with different levels of economic knowledge.