Literature for a starting Economics student

[Ben D]

Hi everyone, I am set to start an Economics course at University in the coming months, and was wondering if anyone could recommend me some literature (ideally a book) with an up to date theme, or I guess fresh take-in light of current events-on the topic.

The reason for my quest is that lately when reading Economic and Science articles on various issues related to the economy and recent global crisis, a common theme I keep seeing is that many of the models in Economics are out of date or imperfect, and need to be updated with the latest scientific ideas regarding psychology, communication, etc. An example with my limited understanding of the topic is the premise that each individual is perfectly rationale, etc.

What I want from this book is a general understanding of the modern thoughts on Economics, which I can 'keep in the back of my mind' when learning the subject at University, to possibly shape or prevent old ideas becoming 'ingrained' into my economic though processes. If this sounds like wishful thinking, at the very least I hope to be better prepared when study time does come around!

Thank you,
Ben

[Ben Mcleod]

start at the beginning i suppose

Adam Smith - An Inquiry into the Nature and Causes of the Wealth of Nations.

[David Anderton]

Don't read those - you will never look at economics again. Leave it a year (and that if you are a very keen student) before you tackle those in full.

Try these:

Introducing Keynesian Economics, Pugh and Garratt, Icon
A comic based appreciation of Keynes' life and economics - don't laugh it is very detailed and will help your understanding no end.

A Modern Guide to Macroeconomic, Snowdon and Vane,
Focus on the first chapter, it has full coverage of the modern, post-WWII, development of economic thought right up to the current day. This book is difficult to read cover to cover but will ensure you good marks if you leaf through it's pages enough. It has secured me many firsts and has been fundamental to maintaining an understanding of economic thought above and beyond many of my fellow classmates.

The Undercover Economist, Harford
Many people love Tim Harford, I don't particualary. This however is a priceless classic filled with essay filling examples for micro - and also useful for day to day life too. I feel this book made him and his writing has declined since. He is incredibly easy to read - but also very rewarding.

Also get your hands on the recording of Marylin Waring - If people counted. Old but filled with critiques her economics is one which focuses on the inadequacies of NI accounting such as GDP. Easy to listen to, Easy to quote, Easy to write her name in an exam to gain those extra critical marks.

Hope this helps,
David - which university btw?

[Krishna]

I agree - Adam Smith is probably a bit too heavy at the moment... you could try these:

Milton Friedman - Free to Choose, Capitalism and Freedom
Krugman - Return of Depression Economics
Hayek - The Road to Serfdom

There are lots of other forms of media that you could explore too - my favourite at the moment are Podcasts (from LSE/EconTalk) - check them out, you can't go wrong... they're free!

[Michel. K]

New Ideas from dead economists by Todd Buchholz the old version and Applied Economics: Thinking beyond stage one by Thomas Sowell...Those 2 books will help you get a better understanding of introduction economics.

[Raul Bajo]

Economics books for leisure (most of them related to applied microeconomics):

- Freakonomics (Levitt)
- Armchair economist (Landsburg)
- Undercover econmist (Harford)
- The Economic Naturalist (Frank)

For spare time...enjoy them!!!

Raul

[Thomas Reeves]

Freakonomics is definitely a better choice for the moment than Smith. Smith might be a bit too much for the beginning.

[Richard]

While I think it is fantastic that you are seeking to get an understanding of the wider picture and I certainly would not discourage you in studying to any degree Nothing beats the experience of hands on work.
Let me just say that by not having a degree and the confidence that comes with it probably cost me 30k a year until i recently rectified that -so in no way am i belittling the value of education.
One alarming aspect I experienced in my studies however was that i was being tutoured by people with a Phd who have no work experience whatsoever - as an FX /MM trader ther lack off practical hands on experience was apparent - this alarmed me so much that it has inspired me to change my degree so I can impart my knowledge. I hope this does not sound overly negative because Economics is such a fantastic subject that impacts on every area of ones life- however the sexiness can on occasions, in my opinion get bogged down in a whole bunch of common sense bullshit- which dulls once senses on what is a fantastic and rewarding career.

Good Luck Mate

Richy

[Andrew]

http://nobelprize.org/nobel_prizes/economics/laureates/

the nobel prize lectures are good places to start as they involve the academics themselves explaining the ideas, where they came from, what went before/after and how they fit into the overall context of economics