Must-Read Books for Economics Graduates

Must-Read Books for Economics Graduates

Economics is the branch of social knowledge concerned with the production, consumption, and transfer of wealth. An economist studies the way society uses scarce resources, such as land, labor, raw materials, and machinery to produce goods and services. It’s very rightly said that an economist without basic knowledge of economics is like a kid who is trying to learn projectile motion without having any idea how to throw a stone in the air. Well to develop a good command on this subjects, one should go through these books. In this blog, our experts of microeconomics assignment help have enlisted four must-read economics books.

Freakonomics: A rogue economist explores the hidden side of everything

Two authors, one was an economist from University of Chicago named Steven Levitt and the other one was a journalist in New York Times named Stephen J. Dubner made his debut in non-fiction through this book. It was published on the 12th of April 2005. This book is a collection of articles for applying economic theories to diverse subjects which were not earlier covered by any traditional economist. It also reveals how people respond to non-economic subjects like the legalization of abortion. Authors have also attempted to demonstrate the power of data mining. Every beginner should read this book as it not only provides knowledge of economics but also it is critically appraised for sociology work.

Capitalism and Freedom

Capitalism and Freedom is a book written by Milton Friedman and was published in the year 1962. The University of Chicago published it and  sold over 400,000 copies in its first eighteen years. This book argues over the relation between Economic Freedom and Political Freedom. Various others topics have also been discussed, such as the role of government in a free society and in education, control of money, capitalism, and discrimination. From an economist point of view, other chapters also explained the distribution of income, occupational permit, and alleviation of poverty. The conclusion of the book keeps moving around on how time and time again, most good things in the world come from the free market, and from the government.

The Rise and Fall of Nations

This book is simply the best guide to the global economy and its issues. It has been written by Ruchir Sharma and published in June 2016. He has written this book based on his 25 years of travel experience. During that journey, he covered many places including a village or the President’s house. This long-term effort has given his readers a real picture of the world. There are many factors which can shape a country’s economy and its fortune. This book has summarized all these in 10 simple rules and thus it’s a must-read book for all aspiring economist.

Economics in One Lesson

If someone is willing to understand basic economics in the shortest and surest way, then this is the perfect book for them written by Henry Hazlitt. He was an American Journalist who wrote several articles about business and economics. It got published in the year 1946 and was regarded as the best book of that time. This book revolves around the basic principles of microeconomics including case studies. The art of economics does not consider only immediate result but consider the longer effects of any act or policy. And, this has been perfectly described in this book which will be definitely beneficial for any beginner.

Economics is a lot like theoretical physics in one respect. It will be interesting when you read about it but it is highly mathematical you formally study it. So, everyone should have a basic knowledge of economics which can make economical as well as social active.