5 Best Economics Books for Serious Students

Why do you use this device (mobile, tab, or desktop computer) at your hand or in front of you right now in search of the best economics books for students? It is your need I mean demand in terms of economics. Economics is a leading subject that breaks down economic concepts, for example, scarcity, supply and demand, costs and benefits, and incentives which can help explain many decisions that we make every day.

Economics, in fact, encompasses every aspect of our life, for instance, our living apartment, goods we buy and consume, the process of achieving personal properties, individual characteristics, social values, and even more. Here I am going to present some of the best economics books for high school students and college students in order to make your academic study complete and understand economics from the basic to the advanced level.

Best Economics Books for Students

  1. The Economics Book: Big Ideas Simply Explained by DK
  2. Basic Economics by Thomas Sowell
  3. Economics 101: From Consumer Behavior to Competitive Markets-Everything You Need to Know About Economics (Adams 101) by Alfred Mill
  4. Economics by William Boyes & Michael Melvin
  5. The Economics of Discontent: From Failing Elites to The Rise of Populism by Jean-Michel Paul

1. The Economics Book: Big Ideas Simply Explained

All the basic ideas of economics, questions, and theories you will find so easy after reading this classic but essential book. If you are going through high school or studying economics for the first time, this is a must-read book for you.

The book presents a combination of authoritative, clear text, and bold graphics in order to make sense of the topics within a short time. In fact, this textbook is just like an encyclopedia of economics that explores and explains big questions and issues that affect us all covering everything from taxation to recession to the housing market and much more.

The Economics Book demystifies and untangles complicated theories by following an innovative visual approach. Most importantly, it makes sense of abstract economics concepts through colorful graphics, fun facts, and step-by-step flow diagrams so that you can acquire the basics of the subject from the beginning.

You will discover over 100 key ideas from the world’s greatest theorists like Thomas Malthus, John Maynard Keynes, and Milton Friedman from the ancient Greeks to today.

You will go through property rights, markets, and morality, the function of the economy, how to make money from money, and how money causes inflation. Economic concepts like protecting us from foreign goods, how wealth comes from the land, money, and goods flow between producers and consumers will be so clear to you.

The book will inform you that man is a cold, rational calculator, the invisible hand of the market brings order, why do diamonds cost more than water as well as many other impressive concepts. Moreover, you will know how much should you produce given the competition, efficacy, and fairness (making one person better off without hurting the others).

The last part of the book named Contemporary Economics 1970-present discusses it is possible to invest without risk, tax cuts can increase the tax take, and how prices tell you everything. You will learn social networks are a kind of capital, education is only a signal of ability, and how stable economics contains the seeds of instability.

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2. Basic Economics

Basic Economics is your guide to economics, written in an approach to make understand you how the economics works. The famous economist Thomas Sowell explains the general principles underlying different economic systems: capitalist, socialist, feudal, and so on. He shows you how to critique economic policies in terms of the incentives they create, rather than the goals they proclaim in readable language.

The book offers clear explanations of the entire field, from rent control and the rise and fall of businesses to the international balance of payments, this is the first book for anyone who wishes to understand how the economy functions. The book is not really an introduction to economics but more like a presentation of a point of view on economics.

It is a must-reading economics book for you if you want to know the truth about how the laws of economics govern so many of the events in our daily lives. Actually, the author makes economics understandable to a person who has not attended an economics class. You will get the book rich with explanations and examples of everyday economic issues you essentially need to know as a student of economics.

At the very first of the book, you will read prices and market, the role of prices, price control, and an overview of prices. Later on, in part two, you will come across industry and commerce, the rise and fall of businesses, the role of profits and losses, the economics of big business, etc.

Then, you will learn productivity and pay, minimum wage laws, and special problems in the labor market. The book also addresses the most basic concept of investment, stocks, bonds, and insurance, special problems of time and risk.

Part five presents the national economy, national output, money, and banking system, government functions, and even more issues. By reading this book, understanding international economics will be much easier for you, and more special economic issues.

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3. Economics 101: From Consumer Behavior to Competitive Markets

Economics 101 by Alfred Mill is a great summary of key economic concepts absolutely for beginners. Whether you are looking for mastering the major principles of economics or just need to know more about why money matters, Economics 101 has all the answers.

Alfred Mill avoids the boring presentations of concepts and instead provides a hands-on lesson that will keep you engaged as you explore how societies allocate their resources for maximum benefit.

This outstanding book comes with hundreds of entertaining tidbits and concepts that you would not be able to get anywhere else. It will provide you with the basics on terms, for example, monopolies and oligopolies, game theory, inflation, price ceilings, and more. The author offers a great and easy approach to understanding examples and will definitely leave you feeling as though you are ready to take the next step.

This is an introductory textbook for those who are just going to study economics. Therefore, it provides the most basic concepts of economics like what is economics. The book covers the most essential topics of economics, for example, trade-offs and opportunity cost, the emergence of free trade, international trade, and trade barriers, the discussion on capitalism versus socialism, etc.

You will learn the origin of banking and how banks create money, banks as a system, supply, and demand, changes in supply and demand, accounting versus economics, the production function, game theory, pricing behaviors.

In addition, you will get the basic ideas of the money market, the bond market, the stock market, foreign exchange, and exchange rates, the financial sectors and financial markets, the GDP, why unemployment is so bad, inflation, monetary policy, and economic growth, conditions for economic growth. In a word, the book covers everything from consumer behavior to competitive markets.

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4. Economics

If you are a college student and would love to gain a solid global understanding of basic economic principles and examine the latest thinking on important microeconomic and macroeconomic happenings around us, you are most probably looking for this book.

The author provides the book with a reader-friendly writing style, carefully integrated learning features, and an emphasis on global economics in order to help you fully understand the connections between key economic principles and today’s actual business practices.

You will get timely updates and memorable examples to ensure you are learning using the latest economic developments. Inside the book, solid microeconomics materials emphasize the fundamentals and practical application of current events, while macroeconomics coverage highlights the financial crisis and its global implications.

Most importantly, by studying this text you will also gain an in-depth understanding of globalization which is one of today’s most significant business issues, and the impact of globalization on economic growth and poverty.

This is a comprehensive textbook and covers deeply all the major economic concepts and issues. For example, the wealth of nations: ownership and economic freedom, scarcity and opportunity costs, the market and price system, the aggregate economy, an introduction to the foreign exchange market, and the balance of payments, unemployment, and inflation.

You will learn macroeconomic equilibrium: aggregate demand and supply, an algebraic model of aggregate expenditures, income and expenditure equilibrium, and fiscal policy. In addition, economic growth, and development economics will be clear to you. You would be able to use economics to understand the world around us, elasticity: demand and supply, etc. The author also goes deeper into the mechanics of going from production to costs, profit maximization as well as other essential concepts you need to learn.

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5. The Economics of Discontent: From Failing Elites to The Rise of Populism

You definitely would love to go inside the current economic system of how we have arrived at the brink of disaster and how we can move away from the win-lose policies of recent decades to restore much-needed balance.

We are at present living in a fragmented political system where dissenters are an emerging majority and unable to articulate a set of rational policies. We do not have a coherent understanding of Western societies’ deep sources of frustration. It’s time to confront the facts we are facing the failure of the Western elite.

You will know how unsustainable social pressures come from real estate, health care, education, monopolies, over-financialization, unfair trade, and uncontrolled immigration. The cumulative burden of choices made in these areas has fallen disproportionally on the lower and middle classes of society.

In the process, it has severely limited the flow of social mobility, ensuring its own decay and growing incompetence. This has led to an increasingly inefficient government, with no vision other than maintaining the status quo and catering to special interests.

Most essentially, the book focuses on wealth trends and why income disparity has become a larger issue, especially since 2009, by using the following themes:

  • The incentivizing by current financial policy to hoard “non-productive” assets has a generational bias.
  • The problems with current healthcare systems (particularly in the US).
  • The deterrent of investment in areas that provide long-term benefits such as education, and infrastructure based on current governmental policies.
  • Immigration, globalization, automation, and monopolies.
  • The increased financialization of companies and quantitative easing and both current and long term implications on the middle and lower classes.

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