I am a reader of primary texts. One can be dismayed by the number of followers’ easy reliance on secondary literature to create interpretations of their leader’s economic ideas about the sources of society’s well-being. Distortive alteration and the recycling of unfounded ideas about conflicting influential economists’ theories is actually counterproductive. Only scrutiny of an author’s work can reveal false assertions. I’m proposing four authors I’ve scrutinised to find out what they really thought about my main teaching interests: money and credit, and their impact on prices, and the manipulation of the volume of either/both to affect purchasing power. It has been astounding to learn what theory applications, distorting their intent, bear their name.
Hicks envisaged an economy in which individuals choose to offer labour for income to purchase products of their effort or to spend time in uncompensated leisure.
His is a theorical economy: individuals and firms interact to determine current and future supplies and demands. It establishes the laws governing the price system regulating exchange and production.
In this world of transparent, free movement of goods and resources without government, regulations, banks, and unions, there is no room for monopolies or capital accumulation.
Money as intermediary is simply a unit of account. Growth is the outcome of needs, efforts, and mutual cooperation.
Value and Capital, a jewel, is the core of current microeconomics, but Hicks’ economy, in which inflation and income disparities are non-issues, is not a capitalist but a market one; ironically present microeconomists conflate the two.
I am a Professor of Economics at Washington State University. My research focuses on applying Game Theory and Industrial Organization models to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and merger decisions, both under complete and incomplete information contexts.
This book is a short introduction to undergraduate-level Game Theory, with a special focus on basic games of complete information and contracts.
It avoids jargon, notation, or formal definitions but emphasizes economic intuition and offers many examples in each chapter. Some chapters require a good math background, making the book a good fit for students who already took at least one course in algebra and calculus.
Joel Watson has refined his successful text to make it even more student-friendly. A number of sections have been added, and numerous chapters have been substantially revised. Dozens of new exercises have been added, along with solutions to selected exercises. Chapters are short and focused, with just the right amount of mathematical content and end-of-chapter exercises. New passages walk students through tricky topics.
My passion is using field experiments to explore economic questions. Since the early 1990s I have generated more than 200 papers published in academic journals using the world as my lab. That’s what we do as academics. The problem is that locked away in these journals is an enormous amount of wisdom and insights that can not only help the realm of academia, but also change the world as we know it. The brilliant authors of these books unlock the ideas and knowledge found in the academic papers that are full of jargon and math, aimed towards a narrow audience, and put them in language aimed towards the masses where real change can be implemented.
We all loved Freakonomics. The incredible Stephen J. Dubner and Steven Levitt did it again in their second book Super Freakonomics.
Thinking like an economist is a powerful tool. What might surprise you are the motley assortment of questions that you can think about from the perspective of an economist.
This book is bold, funny, and insightful. And what’s the underlying theme? Well, it’s one thing all economists can agree on – incentives matter. Dubner and Levitt are masterful storytellers and teachers.
Even if you aren’t interested in thinking like an economist, their perspective on topics covered is worth the read.
The international bestselling Freakquel to Levitt and Dubner's Freakonomics, this book sees them looking deeper, questioning harder and uncovering even more hidden truths about our world, from global cooling to patriotic prostitutes, drunk walking to why suicide bombers should buy life insurance.
'Mind-blowing' Wall Street Journal
'Page-turning, politically incorrect and ever-so-slightly intoxicating, like a large swig of tequila' The Times
'Like Freakonomics but better ... you are guaranteed a good time' Financial Times
'Great fun ... Levitt is a master at drawing counter-intuitive conclusions' Sunday Times
'Studded with intriguing examples' Daily Telegraph
My entire career has been spent in finance. From life insurance to central banks, from stock exchanges to post-trade clearing and settlement, this is all I’ve ever done. My college degrees include BSBA in Business/Marketing, MBA in Management, and PhD in Economics. In addition to knowing what a lot of people know about finance, I also worked inside the “black box” of the Federal Reserve System and depository trust and clearing corporations (in 4 cities, on 2 continents). Therefore, I know more about the plumbing of stock market infrastructure than most people who have careers (and education) as long as mine.
Co-author Ken Rogoff taught my PhD course in Global Economics while he was a visiting professor at NYU (from Princeton). We used Foundations of International Macroeconomics as our textbook; Ken was writing the book with Maurice Obstfeld. When I turned in a handful of pages to him with editorial corrections, he hired me to edit the rest of the book and a research paper for him! It caused quite a stir among my peers when Ken thanked me by name when the article was published (JEL, June 1996). This book traces eight hundred years of financial crises to demonstrate that they are, in fact, predictable. Economists and policymakers are taken by surprise only because they do not learn the lessons from one crisis to the next.
Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary…
I’m a Swiss researcher and university professor who applies mathematics and psychology to build quantitative models for financial decision-making. Most of my scientific contributions belong to a field of research called behavioral finance, that is, the study of how psychology affects financial decisions. I love mathematics, and I am fascinated by its ability to describe complex mechanisms, including those that generate human behavior.
From this book, I learned that cognitive errors and human misbehaviours are not necessarily in contradiction to rationality.
It taught me that the generally negative perspective on psychological mechanisms provided by behavioural economics is limited. By contrast, a deeper understanding of what rationality means is needed. This book enriched my own way of analyzing how psychological factors impact daily decisions.
For a long time, economists have assumed that we were cold, self-centred, rational decision makers - so-called Homo economicus; the last few decades have shattered this view. The world we live in and the situations we face are of course rich and complex, revealing puzzling aspects of our behaviour. Optimally Irrational argues that our improved understanding of human behaviour shows that apparent 'biases' are good solutions to practical problems - that many of the 'flaws' identified by behavioural economics are actually adaptive solutions. Page delivers an ambitious overview of the literature in behavioural economics and, through the exposition of these…
Valerie M. Hudson is a University Distinguished Professor and holds the George H.W. Bush Chair in the Department of International Affairs at The Bush School of Government and Public Service at Texas A&M University, where she directs the Program on Women, Peace, and Security. Hudson was named to the list of Foreign Policy magazine’s Top 100 Global Thinkers, and was recognized as Distinguished Scholar of Foreign Policy Analysis (FPA/ISA) and awarded an inaugural Andrew Carnegie Fellowship as well as an inaugural Fulbright Distinguished Chair in the Arts, Humanities, and Social Sciences at Australian National University. She has been selected as the Distinguished Scholar Award recipient for 2022 by the Political Demography and Geography Section (PDG/ISA) of the International Studies Association.
If Enloe’s book set the stage, Tickner’s 1992 book was the first to openly challenge the then-conventional verities of IR Theory in a systematic way. In her book, Tickner takes on the two major subdivisions of IR thought—Security/Conflict Studies and International Political Economy, and mounts a devastating critique of the major approaches in each. She lambasts how gendered our understandings of, say, deterrence are, and how the state is viewed in IR theory as a “masculine” entity, and how this has warped our understandings and even the very questions we ask in IR. Tickner does the same with the clearly male-focused world of microeconomic theory with its womanless world of rational utility maximizers. This book set IR back on its collective heels.
Microeconomics is a turnoff to most readers. Not without reason. Many books in this field are dull rewrites of other books and opaque. In particular, it is not clear how the behavior of individual consumers and producers adds to the performance—good or bad—of an economy. The books listed here helped me to sharpen my own mind and to make my writing lucid.
In this series of essays, Ayn Rand presents her stand on the persecution of big business, the causes of war, the default of conservatism, and the evils of altruism.
The foundations of capitalism are being battered by a flood of altruism, which is the cause of the modern world's collapse. This is the view of Ayn Rand, a view so radically opposed to prevailing attitudes that it constitutes a major philosophic revolution. Here is a challenging new look at modern society by one of the most provocative intellectuals on the American scene.
I am Professor of Economics at Washington State University. My research focuses on applying Industrial Organization to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and mergers decisions, both under complete and incomplete information contexts.
A short presentation of consumer and producer theory (no game theory or contract theory), very rigorous, and with some interesting examples.
Challenging exam exercises at the end of the book. Last but not least, the eBook is available for free from Prof. Ariel Rubinstein’s website.
While most students may find it too succinct to be the only reference in PhD Microeconomics courses, it is probably one of the references several students use (seeking different explanations and examples) at top PhD programs.
This book presents Ariel Rubinstein's lecture notes for the first part of his well-known graduate course in microeconomics. Developed during the fifteen years that Rubinstein taught the course at Tel Aviv University, Princeton University, and New York University, these notes provide a critical assessment of models of rational economic agents, and are an invaluable supplement to any primary textbook in microeconomic theory. In this fully revised and expanded second edition, Rubinstein retains the striking originality and deep simplicity that characterize his famously engaging style of teaching. He presents these lecture notes with a precision that gets to the core of…
I am Professor of Economics at Washington State University. My research focuses on applying Industrial Organization to polluting industries and other regulated markets. I analyze how firms strategically respond to environmental regulation, including their output and pricing decisions, their investments in clean technologies, and mergers decisions, both under complete and incomplete information contexts.
This book is highly recommended for students in graduate programs with a strong game theory and mechanism design focus.
As MWG, it is especially technical in some chapters, but its writing is more “modern” in Introductions and other sections, helping the reader “see the forest” a bit more easily than with other books. The math appendix is also excellent and exercises are a good challenge for strong students.
When understanding the interactions in our economy, it is critical to recognize all participants in this complex system. I’m passionate about microeconomics because it provides me with a different perspective to examine the world around me. I use my microeconomic glasses and I enjoy rationalizing the daily interactions and predicting the potential outcomes.
This eBook, developed by faculty members from top institutions, is available for free from the developers’ website, offers several online resources, it's frequently updated, translated to several languages, and has been widely adopted in several countries.
The book includes both the usual topics for courses on introduction to microeconomics and introduction to macroeconomics, using a similar writing style as other introductory textbooks (assumes no mathematical background), thus being accessible to a wide range of students.
Unlike similar books, however, it structures topics differently: instead of presenting chapters according to the main tool or concept being introduced, chapters are presented according to real-world problems.
While this can help motivate each chapter, it may require some adapting from the instructor’s teaching style.
The only introductory economics text to equip students to address today's pressing problems by mastering the conceptual and quantitative tools of contemporary economics.
OUP has partnered with the international collaborative project of CORE researchers and teachers to bring students a book and learning system that complements and enhances CORE's open-access online e-book.
The Economy: - is a new approach that integrates recent developments in economics including contract theory, strategic interaction, behavioural economics and financial instability - Engages with issues students of economics care about, exploring inequality, climate change, economic instability, wealth creation and innovation, among other issues. - provides a…
