Economics is a discipline of social science that studies how people allocate scarce resources for production, consumption, and distribution, both individually and collectively. The area of study provides is a great foundation for varied careers and the one who has an interest in the economy must have an understanding of the way businesses operate and knowledge to analyse the markets. Studying economics also develops financial awareness among learners. Thus, the role of economic books is predominant in today’s world. With many books available, choosing the right book to study is not an easy task. In this blog, we will list down some of the important Economic books which will help you gain the right knowledge. Some of them might persuade you to build a career in Economics.
Top Economics Books
Capitalism and Freedom by Milton Friedman
Capitalism is one of the approaches that tend to dominate world economies. Milton Friedman’s classic book ‘Capitalism and Freedom’ scrutinize how capitalism paves the way to economic progress. This one elaborates the notion of the Capitalist Economy also known as the Mixed Economy by focusing on various principles, markets and transactions happening in various economic activities.
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Thinking Fast and Slow- Daniel Kahneman and Amos Tversky
Written by Daniel Kahneman and Amos Tversky, Thinking Fast and Slow novel helps readers to understand about decisions we make ourselves and the decisions made by those around us. Reading this book will not only give an excellent insight into behavioural economics but helps in making better decisions as well. The book provides incredible insight through challenging assumptions of economics on the way people always act rationally.
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Freakonomics by Steven D. Levitt and Stephen J. Dubner
Described as one of the most popular Economic books of all time- Freakonomics provides a basic understanding of microeconomics concepts along with their working. The book ‘Freakonomics’ doesn’t describe the traditional approach to apprehending microeconomics and its impacts on the economy. Instead, the authors- Stephen Dubner and Steven Levitt analyze the links between seemingly unrelated concepts such as why drug dealers tend to live with their mothers, and which is more dangerous: a gun or a swimming pool.
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Basic Economics: A Common Sense Guide to the Economy by Thomas Sowell
If you are looking for an Economic book which provides a general overview of the subject and how different economic systems operate, then Basic Economics: A Common Sense Guide to the Economy written by Thomas Sowell is for you. The book covers the basics of Capitalism, Feudalism, and Socialism and explains concisely about various principles associated with each one of these. Through the help of real-life examples and illustrations, this book helps the readers to understand how the economy operates and the way it affects the people living in it.
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Also Read: BA Economics Jobs
Economics in One Lesson by Henry Hazlitt
First published in the year 1946, Economics in One Lesson, by Henry Hazlitt is a book for anyone who wishes to explore the subject in depth. It not only explains the concepts of economics but also draws light on how different economies around the world. The book challenges the conviction that economics is best elucidated as a series of short-term events, trends and scenarios. If you want to build knowledge in Economics, ‘Economics in One Lesson’ is a solid choice for you to begin with.
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Given below is a list of other important Economic Books, which further broaden your horizons in this domain:
- Capitalism in America by Alan Greenspan and Adrian Wooldridge
- Doughnut Economics by Kate Raworth
- A Crisis of Beliefs by Andrei Shleifer and Nicola Gennaioli
- The Wealth of Nations by Adam Smith
- Animal Spirits by Akerlof and Shiller
- The Armchair Economist by Steven E. Landsburg
Also Read: Career in Financial Economics
We assure you that these Economics books are going to help you build a strong foundation in the subject. If you are planning to pursue a course in the arena of Economics, then, these books can be a great help! Moreover, if you are planning to study BA in Economics or any other degree in this field and can’t pick the right one, sign up for a 30-minute free career counselling session with Leverage Edu experts and we’ll assist you in finding a suitable program that fits your skills.