Economics Books

Economics takes a look at how economies work by comparing how different players behave in the great game of chess of the market. There are countless complex ways that we use money to make, buy, sell, and use goods and services, with many factors that affect how the process plays out. From micro to macro, Marxism to Keynesian, and mainstream to heterodox, the Direct Knowledge bookstore is here to help you figure out this social science.

Economics Books - business analytics, team of people working on financial report in the office, teamwork, closeup of hands

From Old to New

Economics in some form or another has been around for thousands of years, forming slowly over time into what we know today. Many ideas formed over this time period, but many also faded out as we made new advances. In the books found here you can learn about these past theories to get a good background and see their effects on modern schools of thought.

You can also find information on mainstream or “orthodox” economics, and even contrast it with the not-so-mainstream. These “heterodox” areas are rising in popularity, especially after events like the 2008 crisis. These events cause people to rethink if what’s mainstream is really working, and think about what changes can be made.

The Science of Society

Economics has the label of social science because it studies social aspects like human interactions and behaviors. But it applies scientific principles in analyzing these aspects and presents an interesting mix of commerce, math, and psychology. Many people tend to think of the commerce part first, which is reasonable given the importance of factors like production of goods and services, their distribution, and then consumption of them by people.

But, math played a crucial role in advancing economics into a more technical and reliable social science. It’s what lets us look at factors like costs, efficiency, uncertainty, and supply and demand on large scales. So prepare for some math-heavy lessons and advanced content.

However, behavior of consumers and producers affects economic outcomes as well. An entire new branch – behavioral economics – came from this idea, although it competes with traditional ideas of rational economics. Under the ideas of behavioral economics, people are not always rational. Also, things such as culture can affect economies because culture is essentially a set of values and norms that affect behavior.

Putting It All Together

So, it’s not as simple as figuring out how many pizzas a shop can make in three hours with a given amount of produce. You have to consider if people in that area even like pizza. And if they eat during that time of day in that region. Or if the weather affects their desires or maybe other events going on in the area. Humans are just a bit unpredictable sometimes, which turns out to be one of the biggest challenges in economics.

Given all of this, get ready to encounter both technical calculations as well as uniquely human factors. This combination is what makes economics so diverse and fascinating.

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