Book on economics basics?

jdpl28

Hi all,

anybody can recommend a book on basics of economics, things like interest rates. I keep on hearing things like short term interest rates being lowered. is there different types of interest rates? and is it something like banks borrowing money from government to lend to customers? I thought the whole job of banks was to take money from savers and lend this out to borrowers? am I missing something huge here? why would the bank need to borrow from the govenmnet? And why can the government dictate the interest rates in the bank?

thanks,
J

Im no expert, but id recommend "The undercover economist", by Tim Harford..more sort of about economics in everyday life..or that documentary series that was on more4 there before xmas "The ascent of money"..good watching..if you're into that sort of thing..

Greg Mankiw's 'Principles of Economics' is pretty much the standard into text book on economics.

Its very readable.

jayok

If you have a passing interest in economics and want to just 'dip-in' to various areas with practical examples, I'd recommend Ecomonics for Dummies. Standard "For Dummies" stuff - might be a bit dumbed dow for you though

Viscosity

Just a quick search on Amazon will provide you with lots of options. Outside of the standard intro text books, there are a large number of books aimed at the general audience.

I've always liked Free Lunch by David Smith(over 5 years old now though)
New Ideas from dead economists.
The Worldly Philosophers
Naked economics

Don't forget to check out some economics blogs for a free taster!

nesf

It depends on whether you want lay definitions for these things or a more "academic" treatment of them.

Wikipedia isn't actually that bad a starting point for a total novice: http://en.wikipedia.org/wiki/Interest_rate

Read around the links there and if it makes you want to learn more about the theory that underlies these things you can pick up a few entry level academic books. If the theory isn't interesting then you've just saved yourself 50 quid. Academic books are really not cheap.


As a total lay introduction the kind of logic used in economics I'd second the recommendation for the Undercover Economist. It's a very enjoyable and well written book.

Edit: Just to add, if you're looking for a jargon free treatment of what the modern global economy is you could do a lot worse than this book by The Economist group: http://economistshop.com/asp/bookdetail.asp?book=2676

jimboddb

You could also pick yourself up a leaving cert revision book to help with the basics, theres a also an excellent dictionary of economics available from penguin i think.

Time Magazine

A Leaving Cert book may do more harm than good. An awful course!

I bought an Economics dictionary before I started college. Never once looked at it.

The basics of economcs are not the same thing as the workings of the monetary system. I have feck all interest in monetary/financial economics so I can't advise any in particular. This might help you refine your seach a good bit, though.

jimboddb

The basics of economcs are not the same thing as the workings of the monetary system. I have feck all interest in monetary/financial economics so I can't advise any in particular. This might help you refine your seach a good bit, though.[/quote]


The basics of economics are tough to define though arent they. Are they 1st yr. introduction courses, supply and demand etc. Or are they something like tim harford writes about

nesf

The Economist wrote: »

I bought an Economics dictionary before I started college. Never once looked at it.

Pfft, you should have got yourself the two decent ones:
MIT Dictionary of Economics (Decent technical definitions)

and the Routeledge Dictionary of Economics (Though I wouldn't pay that price for it)

nesf

jimboddb wrote: »

The basics of economics are tough to define though arent they. Are they 1st yr. introduction courses, supply and demand etc. Or are they something like tim harford writes about

It's the same in every field. What are the basics of Physics? Do you cover the basics of all the main sub-fields in the discipline? Do you take a historical route and introduce someone to Classical Physics first because the maths is easier? In Economics do you hide the mathematics like they do in undergraduate courses or do you throw people head first into calculus and cut out the middle man? It all depends on a) the level of the student, b) what their goal is and c) what resources they can get their hands on/are willing to spend money on.

Time Magazine

jimboddb wrote: »

The Economist wrote:

The basics of economcs are not the same thing as the workings of the monetary system. I have feck all interest in monetary/financial economics so I can't advise any in particular. This might help you refine your seach a good bit, though.

The basics of economics are tough to define though arent they. Are they 1st yr. introduction courses, supply and demand etc. Or are they something like tim harford writes about

I think they're supply and demand, with the more interesting examples that Tim Harford thinks of.

nesf wrote: »

Pfft, you should have got yourself the two decent ones:
MIT Dictionary of Economics (Decent technical definitions)

and the Routeledge Dictionary of Economics (Though I wouldn't pay that price for it)

I'd like the New Palgrave for my birthday, nesf. Thanks buddy.

nesf

The Economist wrote: »

I'd like the New Palgrave for my birthday, nesf. Thanks buddy.

If I ever accidentally buy two copies I'll be sure to pass it on...

tenandtracer

jdpl28 wrote: »

Hi all,

cananybody recommend a book on basics of economics, things like interest rates.
J

You're not Brian Lenihan by any chance:)

defiantshrimp

I found "Hidden Order" by David Friedman to be excellent. As is "The Armchair Economist" by Steve Landsburg, but it's less of a general grounding. Friedman's book is essentially a readable, clever book that covers the ground of a first year college economics course.

alb

Deleted User wrote: »

Im no expert, but id recommend "The undercover economist", by Tim Harford..more sort of about economics in everyday life..or that documentary series that was on more4 there before xmas "The ascent of money"..good watching..if you're into that sort of thing..

I really enjoyed this book

kermitpwee

Deleted User wrote: »

Greg Mankiw's 'Principles of Economics' is pretty much the standard into text book on economics.

Its very readable.

I would agree, very good book which will give all that is needed to those needing a foundation course.