These Books Changed How I Learned Economics
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- เผยแพร่เมื่อ 1 ก.ค. 2024
- One of the best ways to learn economics is by reading good books. Here are five books on interesting topics in economics: economic history, macroeconomics, development economics, and urban economics. They are the 5 best books for learning economics.
BOOKS
Economics Rules by Dani Rodrik amzn.to/2WPve1P
Sharing the Prize by Gavin Wright amzn.to/2WSVSXE
Fully Grown by Dietz Vollrath amzn.to/3axnJko
Poor Economics by Esther Duflo and Abhijit Banerjee amzn.to/2UHfiw8
The New Geography of Jobs by Enrico Moretti amzn.to/3bwlk9w
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What are your favorite economics books?
My favorite book for “the history” of economics is ‘Economic Thought: A Brief History’ by Heinz D. Kurz. I had to read it for a class in my undergrad and really enjoyed it!
Pikkety "Capital and Ideology" Richard Wolffs "Democracy at Work"
Free to choose
Is Mankiw's "Macroeconomics" not a thing?
you probably dont care but does any of you know of a trick to get back into an instagram account??
I was stupid forgot my account password. I would love any help you can offer me!
My wife majored in math and I majored in economics, she often wonders why economics isn’t part of STEM. She says it should be called STEEM
Best educational idea I've heard in a long time 👊🏽
no. Economics is a social science STEM not
@@juanandresfernandez4017 Yet there are some amount of math and statistic in it
"Why nations fail" by Daron Acemoglu, James A. Robinson excellent book with history (general), economic history, development economics, political science, international relations and a lot more :)
Book with only one argument, politics bad, could fit whole book into one article.
@@nexe9468 the idea wasn't to show how logical and strong the argument is that there is the need to put it into a book?
I felt the book was very repetitive. After a point, I had to drop reading it. Felt like a drag.
This channel definitely fills a gap. I was looking for something like this. Your way of explaining things is simple and intense.
Economics rules by Dani Rodrik
Sharing the prize by Gavin Wright
Fully grown by Dietrich Vollrath
Poor economics by Abhijeet Banerjee & Esther Duflo
The new geography of jobs by Enrico Moretti
libgen has all of them
thank you
Basic Economics by Thomas Sowell.
thansk very much
@@johannesschutz780 what is libgen?
Thank you very much for your recommendations. For someone who is really passionate about becoming a "successful" economist, but not knowing where to start - this has been EXTREMELY helpful. I appreciate your effort in giving a wide spectrum and your personal opinion about why we should care. Please keep up the good work.
Thanks for that feedback! Which topics would you like covered?
Absolutely loved the recommendations ❤️
I'm keen for more economic history content!
I'll be adding a lot of economic development content soon, and part of that will include history.
@@MarketPowerYT Make sure you inclue Yi Wen's "The Making of an Economic Superpower" paper. It's as long as a book, so it could count as one (kinda), but it goes into a lot of layman-friendly detail about how China's reforms in the late 1970s paved the way for its current meteoric rise to wealth and power.
Another recommended book is Acemoglu and Robinson's "How Nations Fail".
@@americanhero8606 I had not read Wen's article, but it looks interesting!
awesome channel, perfect fit for me, I will start my major in economics next year
I just subscribed. Very interesting in learning about economics. Thank you for the recommendations.
Nice to watch your videos, helps me to continue my economic path despite the stagnation I am in.
The next bucks will go to the books you recommend!
heyy, can you give a recommendation for an economic students on learning statistics? i've been struggling to know in depth about the concept but i believe it to be fun
Just came across your channel and i love it already.
When possible could recommend any books on economic crashes. What caused them and what happened after etc.
Thanks
I like In Fed We Trust. It talks about 2008 in the context of both the Panic of 1907 and the Great Depression. I haven't read Fragile by Design by Calomiris and Haber, but Calomiris is one of the leading experts on banking panics.
Thanks ! Great video ! Have downloaded ‘Good economics for hard times’ and I also liked ‘moonshot economics’ by M Mazzucato :)
I was looking for something on why Phd Economics and i stumbled on your video. I am considering majoring in economic development and thinking on research in Financial Inclusion in less developed or developing countries. Which books will you recommend i read?
My intro macroeconomics professor recommended The Economist’s Guide to Financial Markets as good reading for any Econ major, particularly those interested in Finance. I’ve read a good bit and find it a good extension to the economics and accounting classes I’ve taken so far. (currently a “rising junior” majoring in econ)
Thanks for that suggestion! Finance is a big weakness for me, so I should probably look into this.
Great suggestions. I can second the recommendation for Gavin Wright's book.
For those interested in more economic history, I say start with A Farewell to Alms (Wright).
Farewell to Alms is Greg Clark!
@@MarketPowerYT My bad!
Really enjoying your videos! Keep up the good work!
MANY THANKS !
I would add Freakonomics, The Wordly Philosophers, Why nations fail, The Signal and the Noise, The Wages of Destruction, The Great Escape or even The Selfist Gene could be interesting for economists. I will look into Poor Economics and The New Geography, thanks for your list!
I put Freakonomics in my video on books that made me fall in love with economics. The Great Escape is an awesome introduction to development economics.
@@MarketPowerYT I saw it later. As you I fell in love with Economics after read the two books by Levitt and Dubner. I would also say that The Signal and the Noise should be a MUST for anyone who is interested in research
Please make a recommending books video about the mathematical parts of Economics?
Fan of your content man !
Can you help me with the best MACRO economic books ? I just want to learn the Trade/Business/economic relationships among developed nations.
I'm loving your content keep doing the good work .I have an honors in Economics and I'm considering on starting to teach economics online ,focusing on macro economics specifically but l don't know where to start ,would you please help by giving insights on which books l should use and any other material.
dietrich vollrath was the best professor i’ve ever had and his blog, which was a huge stepping stone into him writing fully grown, is amazing as well if you want to stay up to date on economic growth theory. he’s now the chair of the economics department at UH and it was a well deserved promotion. he is the reason i’m considering pursuing my PhD in economics, seriously the greatest professor ever.
I’m so happy I found your channel. It’s really rare to find, Economics content that you learn outside of the lecture hall.
Would you recommend the economist as a weekly read to help with economic analysis?
Highly recommend "The worldly philosophers" by Robert Heilbroner. This book is about the history of economic thought, showing the evolution of ideas from Plato and Adam Smith through to Keynes and Schumpeter, written in an engaging and often funny style, a great read for early and late-stage economists.
It's a very basic book which often misinterprets the history and the character of economic thought, particularly due to his treatment of Keynes and socialist economics.
It is extremely well written, but there are far more reliable and better accounts of economic history.
@@waterbloom1213 name em
Just found your channel and am trying to go through it as much as possible. Do you think being 40 makes it a bad choice to go to college for an Economics degree? I've just become fascinated by it all why being stuck at home and have been trying to find lots of books to read on the subject. Currently waiting on Principles of Economics textbook by Mankiw to arrive. Would definitely be interested in some more historical books on economics.
SO it depends on what your goal with studying economics is. Most kids at 20 are spending a lot of money on college to invest in improving their future careers. They spend money on tuition and take a lot of their time with the expectation that they'll get a future return on their investment. Are you trying to invest in a career? Will you have time to realize a return on that investment?
Or you might be taking classes as a consumption good. You're just taking classes for the joy of learning and you're not worried about whether it improves your salary. If that's the case, going to school is the same as going to Disneyland. It costs a fortune, but you're doing it for the experience.
You could probably learn what you're interested in through reading at home and watching TH-cam videos.
Are you on twitter? You can learn a lot from following the right people on twitter. Say hi to me: marketpoweryt.
@@MarketPowerYT I suppose it's a little bit of both. I'm slightly worried in this environment that I don't have a degree but I do have a good job. I'll tag you on Twitter as I'd love to see more people to follow. Just found the book club post and am hoping to get caught up on there! Thanks again
@@Lamilmls Hey justin! How's your journey of learning economics going? Is there any piece of advice for a beginner like me?
very honest and good advice. But I guess going to school would provide the discipline and schedules to follow what to read and study with tests and exams. @@MarketPowerYT
Im loving this channel so much.
Can you recommend me only one book among these
Like I wan't to read from the basic
So according to you which book among these is best
Are you an economics lecturer ? Where do you teach ? I learned economics when I was in high school, after that I studied information technology and computer sciences, in recent times I want to learn about ecnomics and finances because I realized that economics, finance, and computer sciences can be connected and support each other.
Nice video!
Any suggestion on something on international trade? I have read Krugman and Obstfeld's but sometimes it is too technical for me (not economist, IR graduate)
I LOVE Doug Irwin's book Clashing Over Commerce. The first chapter alone taught me more about trade policy than my semester on the topic in grad school.
@@MarketPowerYT thank you! I thought about Free Trade Under Fire as well from that author and Straight Talk About Trade by Rodrik! I understand Irwin is a free trade defender. I'd also like to read a protectionist author, to have both sides of the story!
@@rorylane4069 Irwin is very fair to the protectionist side, if I recall correctly. His is more on the history of trade, so he goes through the protectionist period in the US.
An Empire of Wealth by John Steele Gordon is the best economic history of the US I’ve found.
I really enjoy watching your videos. could you please make a video about how to read articles more effectively?
What books should beginners in economics read
Human Action by Ludwig von Mises
Economics in One Lesson by Henry Hazlitt
Basic Economics Thomas Sowell
I doing economics major in India in a local college would these books applies in India can I use these books please give your valuable suggestion
I'm interested in what your thoughts are on history and economics. I'm new to economics. I've taken a Macroeconomics class, but nothing beyond that. I've been looking towards getting into Thomas Piketty, Joseph Stiglitz, Paul Krugman, Deirdre McCloskey, etc. I don't know if those are some names you'd recommend, but I'm new to this channel.
My background is in history. I'm specifically interested in the social and economic history of Middle Ages. I don't know much about the economic side, though. For that matter, I'm an armature on Medieval history...
The economists you cite are fine, but most of them (except McCloskey) are dealing with modern policy issues most of the time. Those three are also in weird stages where they're making much more ideologically-motivated arguments. Like Krugman did tons of good work on trade theory, but now he mostly writes invective for NYT. If you're interested in picking up economics, and if they're covering topics you're interested in, then go for it. It's better than nothing.
I'm not sure if the reason you're interested in those economists is because of their work on inequality, but if that's the case there are better writers. I would recommend "Innovation + Inequality" by Josh Gans and Andrew Leigh. They write a balanced view on inequality with reasonable policy recommendations. If you're interested in some of the recent history behind inequality, check out "The Race between Education and Technology" by Claudia Goldin and Lawrence Katz.
The Middle Ages! Caveat: Middle Age is way outside of my realm. But I have heard good things about Sheilagh Ogilvie's "The European Guilds: An Economic Analysis". Jared Rubin's "Rulers, Religion, and Riches: Why the West Got Rich and the Middle East Did Not" was well-received; it covers that time period, but you'll want to read the summary to see if you're interested. Joel Mokyr looks at the transition from Medieval times to Enlightenment, and everyone loves his books.
@@MarketPowerYT I've heard of Sheilagh Ogilvie! I haven't read her book yet, but I do own it on kindle. I know she takes issue with Steven A. Epstein, so I think I'd want to read him first; from what I can tell Epstein espouses a history of Medieval guilds much closer to what I was taught. That's why I found Ogilvie's argunent so interesting -- I haven't read beyond the intro...
Thank you for the recommendations! I'll check those guys out. I was going to look at Freakonomics first though since it's a book I already own -- I should have mentioned it above. But thanks!
Why didn't recommend basic economics by Thomas sowell
Naked Economics and Freakonomics are great books.
Any great macroeconomic books related with more nations fiscal and monetary policy
The one book that will turn over mainstream economic theory is "Macroeconomics" (2019) by Mitchell, Wray, and Watts.
Can anyone suggest me a book regarding economics I am starting to read new book about economics
I would watch more videos on economic history.
Thank you so much you are helping me 👌🏽
Where can I get the a PDF version of the suggested books for free?
library genesis
For a more interesting list that will give you real foundations, I'd recommend:
Economics in One Lesson, by Henry Hazlitt;
Economics for Real People, by Gene Callahan;
The Economic Way of Thinking, by Paul Hayne
Myths of Rich and Poor, by Michael Cox
Essentials of Economics, by Faustino Ballve
It you just want to read one short essay:
"I, Pencil", by Leonard Read. (free on the internet)
J
Which one is easy to understand?
@@sahilmanocha Start with "I, Pencil"--it's just an essay. Then you could read "Economics for Real People" or "Economics in One Lesson."
What are the ones you suggest for self-studying Economics ?
The Screwing of the Average Man by David Hapgood
thank yoooouuuu (from the 1st semester undergraduate econ major in Indonesia)
Incredible channel, I'm a latin american economics student love your channel, keep it up
I probably should have mentioned I'm also interested in looking at "Good Economics for Hard Times" by Esther Duflo and Abhijit V. Banerjee. I didn't realize they were also the writers of "Poor Economics."
Would you recommend reading it in hard back or listening to it?
I was not a huge fan of Good Economics. I don't think in 10 years we will still be reading it like we do Poor Economics. But if you want to read it, don't do the audiobook. The best part of the book was how they surveyed the research, so that bibliography is valuable if you want to read more on the topics.
@@MarketPowerYT I've been finding that out with serval of the audiobooks I have. You can't check the research with an audiobook as easily.
I'll give "Poor Economics" a go! And I'll get myself a hard copy!
What would you suggest for labour economics?
I dont know why you havent blown up. This is good stuff.
I appreciate the support! Hopefully we'll see growth soon.
Talks too much and doesn't get to the point. "Maybe you just starting your economics education blah blah blah" just tell me about the 5 books.
Do you have recommedation for property books?
I think this one is excellent. th-cam.com/video/waVsLmKbwv0/w-d-xo.html
Dear friend, i am an ardent disciple of economics and psychology, and i would like to sincerely suggest that in order to achieve considerable following for your fabulous work here, you need to focus on two major principles of teaching:
1. You can't better explain what you don't understand better.
2. Take time, inculcate the habit of extensive research, don't rely on reviews, summaries.
Best of luck
Hey Greg, do you still speak Creole?
Wi
The most intriguing part of economics is that it was not like a law but rather than just a book which have thoughts of all the people who study the movement and they just brash about their understanding rather than a book which encourages to engage in economic world
Thoughts on The Economists' Hour? I bought it but have only read the first chapter so far.
What books do you recommend to learn econometrics, micro and macroeconomics... before embarking on a PhD in economics?
For econometrics, it depends where you are. If you've never seen econometrics, go to Mastering Metrics. If you have some experience, try Mostly Harmless Econometrics. Both are by Josh Angrist. Honestly, the most important thing you can do preparing for a PhD is to starting reading on the topic you're interested in and see what the unanswered questions are.
@@MarketPowerYT I am very grateful to you.
"Macroeconomics" (2019) by Mitchell, Wray and Watts.
I am so happy that I found this amazing channel!
I'm glad you found it too!
Sir, which book is good to study economics in graduate level.
Economics drives humanity, not the other way around. Free market economics has driven humanity faster and further than ever before. It has nothing to do with politics or humanitarian issues.
I absolutely love Economics, I am currently doing IGCSES and was extremely keen on doing economics, I completed half of the book by myself and rest with my teacher, I’m worried about my grades. I wanna score A*, please give me some advice.
When you start talking about economic books you must include Thomas Sowell. Basic Economics and The Housing Boom and Bust are the two best books on the subject. They are clear and concise. They are written for the layman by the most intelligent individual in recent history.
I couldn't agree anymore. Don't forget applied economics too. Thats another gem of a book he wrote. I read almost all of Sowells books, you can't get wrong.
you are amazing. thank u))
this is a great channel
Thank you so much
What’d your preferred economic theory?
I'm an Engineer student, which book is good for Engineering economics & financial management?
Not sure about financial management, but for engineering you should look at Building the Skyline by Jason Barr.
@@MarketPowerYT ohkk Thank You! :)
Economics Rules by Dani Rodrik
Sharing the Prize by Gavin Wright
Fully Grown by Dietz Vollrath
Poor Economics by Esther Duflo and Abhijit Banerjee
The New Geography of Jobs by Enrico Moretti
Love the content, you really make economics seem 'cool', which is really cool! Anyhow, I hope you get a better mic, that would improve your production value by a large margin
The human Action - Ludwig Von Mises.
The best one i have read.
The austrian school is basically the flat earthers of economics.
@@kattenelvis1778 explain yourself
@@zanta9999999 Basically, they believe that private property rights is something that just exists, or comes up naturally through trade between individuals, but it's actually a governmental edict. In the 1600s private property was invented by governments so safeguard corporations and protect themselves.
I also find that the austrian school can't account for things like environmental destruction because of corporate profits, or other negative externalities. Profits and trade without restriction will eventually lead to many people or animals getting hurt, which is why we have government regulation to prevent it.
@@kattenelvis1778 that would be Marxism which is flat earth of economics.
Austrian economics gave us marginal revolution and Hayek's many principles were Influential in neoclassical thought as well.
The economic calculation problem and Knowledge problem is something socialists haven't solved to this day.
@@gabbar51ngh What are you talking about a guy won a nobel prize because he solved the economic calculation problem his name is Leonid Vitalyevich Kantorovic.
Have you looked into MMT? I’m a second year PHD and a lot of our inaccuracies and errors in models can be reduced given MMT assumptions as inputs
You'll really love MMT when it causes our next great depression. It's not really a new idea it's just old repackaged crap.
Economists are like scientists because they use models? Wouldn't that make philosophers and marxists like scientists too?
Hi bro I'm from India and can you teach me economics plz I loved economy
Where’s Thomas Sowell, Basic Economics
Not a good book or author
So well is one of the most politically motivated economists of our time
I’ve not read sowell, but listened to lots of interviews or lectures.
Most people I’ve found that hate sowell or Hayek or rand etc say they’re poor authors and outliers or extremists.
In reality it’s Keynesians that have simply taken over the world basically through academia as it’s governments that fund university and governments are funded and rely on inflation and central banks.
You may hate these authors but it’s most likely you hate Austrian economics and that you believe we need fiat currency and an all knowing group of bankers to set interest rates and banish recessions forever.
I for one think that as modern economists that are popular like bernanke maybe like bernanke actions worked short term and heck he got a noble prize for it, but democrats and republicans need to admit that QE etc just is promoting wealth inequality. We don’t need more taxes etc to solve disparities. Rather we need to have governments let rich people go bankrupt and that’d dramatically reduce wealth inequality using actual free markets. Bad debt buildup and no recessions is like a forest with no wildfires. After a century of fires being put out now we have massive fires that burn so hot it kills most of the trees. Like 20% of all sequoias that are four feet wide have died in the last ten years!!! Poor management has devastating consequences. Anyways ya modern monetary theory and democrats and republicans thinking we can fund endless war or subsidize europe forever and then also pay social security etc without consequences it’s like ya if that pull that landing off without any dire consequences I’ll be surprised.
Another horrible author that speaks facts and history is Murray rothbard and his book US monetary history or something. It’s on TH-cam.
Another horrible book that people shouldn’t read is the creature from Jekyll island.
@@koltoncrane3099cry less. Soơell’s my bitch
Nice
I love economics
I want to bring notice that what economics is taught does not apply to many real-world countries. The basics of economics lies in understanding society rather than models and books. I studied economics at a US university, but none of the concepts can be applied to my own country because the data and culture of people are different. Also, many concepts like AD/AS cannot be replicated in Africa/Asia because everything is an informal economy. Also, note that most of the theories that won noble prizes proved invalid or of limited usage. Take example of Philips curve, could you prove this any time beyond US?. About Microeconomics, since the world runs on marketing rather than microeconomics principle, economists are studying marketing and psychology. But with a disguise name called "Behavioral Economics".
Hello I'm only incoming College and I choose AB ECONOMIC course, can you give some tips to survive this course? thank you
You should check out
The Choice : A Fable of Free Trade and Protectionism
How do you think, about Thomas sowell
What about text books
Mankiw is a classic for intro economics. Cowen and Tabarrok is another.
wow we had 2 years of economics in my high school, we learned about microecon, macroecon, stats and indian economy
Should look into Austrian economic especially Ludwig von Mises
"Economics in one Lesson" not need for anything else.
My favorite book BOQ
)))))))))))))))))))
Nudge by Thaler and The Deficit Myth by Kelton
How do you consume news of economics? Comment some blogs, news media etc.
Y'all forgetting das Kapital smh 😩
we want history classs plz
My highschool had 3 optional years of economics
Sir i m from india ...these books are also important for us.
You stay home if you don’t want to get sick, don’t tell me how to use my freedom
wow. people of deficit full economy thinks they are rich. hypocrisy
Man, Economy and State. Also, Human Action.
Screw all this postivist bs
لا إله إلا الله وحده لا شريك له إلها واحدا
I am doing BA in economics (from India) and really confused which book should I buy. First I thought The wealth of Nation but now m having second thoughts, pls suggest me what should I do plss
Don't do the Wealth of Nations. It's a hard read and some of his conclusions are wrong. What topics in economics interest you?
@@MarketPowerYT I have mix of interest in development economics, principles/laws/models of economics that can be applied in real world and economic theories
@@MarketPowerYT plss suggest some book (waiting for your reply)
@@manavtiwari6277 The Great Escape is a good development economics book. A good book that combines theory, real world economics, and economic history is Clashing Over Commerce.
Hayek- The road to serfdom.
Adam smith- The wealth of nations.
Austrian Economics
I don't like people trying to engage when presenting and unkowingly screaming. screaming is not engaging. you need to speak in a calm way. this type of hype works for children not for adults.
Economics 101 by Alfred Mill is a crash course on economics.