Have you ever considered if studying economics could be both engaging and beneficial to your daily life? That’s what I thought before taking Paul Krugman’s MasterClass.
Famous for making complex economic concepts easy to grasp, Krugman delivers in this course. He covers everything from basic principles to significant ideas that shape our world, presenting them in a clear and relatable manner.
In this Paul Krugman MasterClass review, I’ll share my thoughts on whether this MasterClass is worth your time, especially if you’re curious about how economics influences your finances, career, and daily decisions.
Let’s see if it lives up to the hype!
A Little About Paul Krugman
Paul Krugman is one of the most prominent economists in the world.
Professor Krugman has taught at multiple prestigious institutions. He is also a writer for the New York Times and the author of several textbooks, books, and scholarly articles on a vast array of economic topics.
His revolutionary work on economic geography, liquidity traps,, and trade theory won him the 2008 Nobel Prize in Economic Sciences. The American Economic Association also presented him with the John Bates Clark prize.
Krugman is also well-known for his dedication to simplifying and humanizing complex economic principles.
Sometimes, his popular criticism is criticized for being left-wing. Though he identifies as a liberal, several of his beliefs (especially about free trade) are rather conservative!
And if you haven’t seen the trailer for his class, I strongly advise you to do so.
Paul Krugman Masterclass – All You Need To Know!
A brief description of the Paul Krugman Masterclass. Reword this to read, ‘Paul Krugman was able to explain the foundations of economics in such a manner that it seemed like listening to an economics lecture. At least, that was my impression.
In MasterClass, you get a deeper grasp of the economic environment in which we live. Paul introduces fresh beliefs despite the fact that we know a great deal about politics.
In the course, you will study economics utilizing real-world situations, which is something to watch out for. There are also new parts of studying economics and gaining a social perspective.
Did you know that there are theories for each national development and economic expansion strategy? Well, Paul covers all of it and presents it straightforwardly and fluidly.
Throughout the course, he also tackles inequality, tax fallacies, the healthcare industry, and several other intriguing issues.
His instruction is unique and energetic, so you do not get bored after a time.
Paul Krugman’s MasterClass consists of 22 courses that take no more than five hours to complete. Although the length of the courses might be brief, Krugman summarizes everything precisely.
The nicest feature of the MasterClass courses is that they come with workbooks and PDF papers that might aid in one’s study.’
Paul Krugman Masterclass Pros and Cons
Below, I have mentioned the PROS & CONS of the Paul Krugman Masterclass:
Paul Krugman Masterclass Pros
- MasterClass offers a unique opportunity for students to gain access to Krugman’s insights and thought processes on economics.
- The course is particularly useful for beginners looking to understand the basics of economics and for those who are not familiar with the 2008 financial crisis as Krugman dedicates an entire lesson to the topic.
- The course also provides an in-depth look into Krugman’s approach to analyzing economic issues, which can be valuable for those interested in understanding his perspective.
Paul Krugman Masterclass Cons
- Some students may not find the course to be as informative or technical as they were expecting, with a focus on commentary on current economics and society rather than charts and graphs.
- The course may not be as beneficial for those who already have a solid understanding of economics and Krugman’s work, as much of the information may be covered in his previous publications.
- The course seems to focus more on Krugman’s thoughts and ideas than the technical analysis of economics, so it may not be the best fit for students looking for more quantitative or technical analysis.
4 Things I Learned In Paul Krugman Masterclass
I took a college-level microeconomics course, but I’ve always found it difficult to relate its results to the economic patterns I read about in the news.
Paul Krugman assisted me in developing an economic “relativity theory” that bridges the macro and micro levels.
1. Economics is a vast application of psychology.
You cannot predict what a person will do, but you can predict what they will likely do. Predictable responses may aid in predicting the behavior of whole populations.
2. Economics can be both limiting and wonderful.
According to Krugman, “Economics is sometimes referred to as the Dismal Science since so much of it focuses on what you cannot achieve.” However, it also provides moments of insight that help you comprehend why the world is as it is.
3. A crisis often unfolds, in the same manner, every time.
Both the 1929 and 2008 financial crises were precipitated by a sudden loss of confidence in financial institutions. The guise may be different, but the cause of one crisis may provide insight into how the next one will likely unfold.
4. The policy is crucial.
The government has the capacity to affect economic prosperity as a whole. The Fed may sometimes seem to be spitting into the wind, but it has formidable instruments at its disposal.
Who Is This MasterClass For?
On a scale of 1 to 10 (with 1 indicating a total beginner and 10 indicating an expert), I would rank this course as appropriate for anyone scoring between 2 and 6.
Krugman is exceptional in explaining abstract and complicated subjects. However, it is still assumed that you be acquainted with some fundamental words and concepts.
Conversely, if you are an economics student, it is doubtful that you will learn anything new. In the end, Krugman is the second most commonly mentioned author in undergraduate economics curricula.
Therefore, unless you are an avid Krugman fan who would love seeing him in action or have been assigned to evaluate him, this is probably not for you.
I would recommend this course to anybody who is open-minded and intellectually inquisitive, does not have a background in economics, and would enjoy learning a new, more methodical approach to thinking about the world.
How Much Does The Paul Krugman MasterClass Cost?
MasterClass provides an all-access ticket for $180 per year. This gives you access to more than 150 MasterClasses for a whole year.
The sole economics MasterClass is taught by Paul Krugman. However, there are plenty of others that would complement it, such as Doris Kearns Goodwin’s work on presidential history and leadership (see my evaluation here) and Bob Iger’s work on corporate strategy and leadership.
Alternatively, you may choose something entirely different by cooking with Thomas Keller and learning magic tricks from Penn & Teller.
Is It Worth It?
Considering the knowledge I’ve learned, I believe so.
As someone with no economics experience or knowledge, I found this course’s principles and ideas tough. But Krugman’s narrative style and use of comparison and pictures made the material approachable and relevant.
His kind, self-deprecating manner, along with MasterClass’s unmatched production quality, gave me a fascinating learning experience that made me think critically and differently and adjust my viewpoint.
However, as usual, I advise you to examine the platform’s offerings before committing. If you can find at least two more courses worth considering, which should be simple, the all-access yearly pass is the best bargain.
FAQS On Paul Krugman Masterclass Review 2024
⏳ How long is the Paul Krugman MasterClass?
22 video lessons broken into six categories. It lasts for four hours and 45 minutes. In addition, there includes a 79-page companion workbook.
✔️ Can I get a refund if I don’t like the Paul Krugman MasterClass?
Yes, MasterClass provides a 30-day, no-questions-asked, full refund guarantee. If you buy MasterClass from a third-party vendor, their refund policy may apply.
👉 Can I get the Paul Krugman MasterClass for free?
MasterClass does provide a gift option for those who are fortunate enough to get it as a present.
💰 How much does the Paul Krugman MasterClass cost?
An all-access ticket to MasterClass costs $180. This grants you access to more than 150 courses for 12 months.
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Conclusion: Paul Krugman Masterclass Review 2024
Overall, the Paul Krugman Masterclass contains a lot of useful information for people who want to learn more about economics from one of the best economists in the world.
This masterclass provides a useful way to learn basic economic ideas and principles through in-depth discussions on a range of economic topics, interesting talks, and thought-provoking case studies.
You should definitely spend your time and money on this Masterclass, whether you’re a new economist who wants to learn the basics or a businessperson who wants to learn more about current economic trends.
