December 3, 2020

10 Best Economics Books for Beginners

Best Economics Books for Beginners

When we think about the best economics books for beginners we basically think about the most effective economics books. We are only concerned for students who just start studying economics here. Information that we provide with the best economics books we believe will benefit the maximum in deciding the right books students need indeed for Introductory Economics. So, keep read on to get the best idea about economics books to collect your needed one.

Best Economics Books for Beginners

It’s, in fact, a big challenge to say you on the best economics books from the huge volume of economics scholarly books around the world. In this context, we decided to present to you the best seller & most used books of economics that prominent Economists, Researchers do refer to students. Therefore, we will cover precisely short reviews of the 10 best economics books for beginners below.

Book Name & Author Image Rating Price

Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics

Henry Hazlitt

4.5 View on Amazon
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1. Economics in One Lesson: The Shortest and Surest Way to Understand Basic Economics  Best Seller

Economics in One Lesson is a must-read guide for beginners and knowledgeable economists who wish to understand the fundamentals of economic theory. Economy scholar Henry Hazlitt’s (1894-1993) in his concise and instructive textbook says in the first chapter: 

“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”

Most significantly he eliminates common economic fallacies with an explanation on why these are wrong some of which people may believe nowadays. 

This book is not only educational but also extremely interesting to read. Hazlitt uses stories to translate the economic theories throughout the book into practical examples. Story-telling grab the readers’ attention & encourage to use of critical thinking in a way so that the reader can realize concepts.

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2. The Economics Book (Big Ideas)

The Economics Book (Big Ideas) by Niall Kishtainy explicitly explains more than one hundred groundbreaking ideas in economics from the earliest experiences of trade to global economic crises. This text, in fact, makes abstract concepts of money and trade concrete thoroughly using easy-to-follow graphics and artworks, succinct quotations.

Moreover, from Thomas Aquinas’ rules of markets and morality to Jeffrey Sachs’ theories on international debt relief, The Economics Book includes innovative ideas of the history of economics. It also discusses the earliest ideas in economics. For example- property rights, the function of money, the progress to present-day economic thought, and the relationship between economics and the environment.

Clear and concise summaries, graphics, and quotations in this book will definitely help beginners to understand the fascinating world of economic thought. Therefore, The Economics Book is one of the best economics books for beginners.

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3. Basic Economics, Fifth Edition: A Common Sense Guide to the Economy

Clear & Concise Basic Economics by leading American Economist Thomas Sowell is a citizen’s guide to economics especially for those who want to understand how the economy works. Basically, it’s the first book for anyone who wishes to understand how the economy functions. Sowell reveals the general principles behind any kind of economy, for example-Capitalist, Socialist, Feudal, etc.

 In this edition, the author revises and updates to bringing the world into clearer focus through a basic understanding of the fundamental economic principles. In addition, how fundamental economic principles explain our lives. He draws on lively examples from all over the world.

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4. Naked Economics: Undressing the Dismal ScienceBest Seller

This textbook is an international best-seller. Clear, concise, and informative. Charles Wheelan makes economic principles relevant & interesting. The author focuses on the economic crisis, globalization, the economics of information, the intersection of economics & politics, history, and the future.

The latest revised and updated edition includes commentary issues, for example-automation, trade, income inequality as well as America’s rising debt. Most importantly, Naked Economics examines how policymakers managed the worst economic crisis since the Great Depression.

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5. The New Confessions of an Economic Hit ManBest Seller

New York Times bestseller The New Confessions of an Economic Hit Man has sold more than 1.25 million copies. It has been translated into 32 languages. In fact, Economic Hit Men are the shock troops that John Perkins calls the corporatocracy. Corporatocracy tie networks of corporations, banks, governments, the rich and powerful people. John Perkins shows how false economics, false promises, threats, bribes, extortion, debt, deception, are used around the world today exponentially. Thus, it is one of the best economics books for beginners.

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6. Principles of Economics

Economics students can master Principles of Economics with reading the most popular introductory book in economics. N. Gregory Mankiw‘s Principles of Economics is widely used around the world. The clear and engaging writing style of this book emphasizes only the material that readers are likely to find most interesting about the economy.

Especially if they are studying economics for the very first time. Beginners in economics can discover interesting coverage of the latest relevant economic developments with real-life experiences. In addition, useful economic facts & clear explanations of the many ways economic concepts play a major role in the decisions that individuals make every day.

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7. Principles of Microeconomics

The Best-Seller Principles of Microeconomics by N. Gregory Mankiw is the most popular and widely-used economics textbook by students worldwide. In this book, the author emphasizes only the material that makes a better understanding of the world in which we live. Moreover, it will help you to understand exactly both the potential and limits of economic policy. This text is very organized & applicable to everyday public policy and financial terminology. 

N. Gregory Mankiw says-

“I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy.”

Actually, N. Gregory Mankiw makes Principles of Microeconomics very interactive and gives a number of practice questions and concept videos.

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8. Principles of Macroeconomics

Principles of Macroeconomics is another best economics books for beginners by N. Gregory Mankiw. Also, this book is the most popular and widely-used economics textbook by students across the world. It’s a must-read economics book for beginners. Updated & recent relevant examples bring macroeconomic principles to life. Most significantly, it’s powerful student-focused digital resources are available in leading MindTap and Aplia digital learning as well as homework solutions that reinforce the principles of economics indeed.

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9. Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist

Doughnut Economics by Kate Raworth points out seven key ways to fundamentally reframe our understanding of what economics is and does. The author along with the seven key ways marks up how we can break our addiction to growth, redesign money, finance, and business to be in service to people. Also, she shows how we create economies that are regenerative and distributive by design.

Remarkably, Doughnut Economics offers a radically new compass to guide global development, government policy, and corporate strategy. The author discusses the best emergent ideas in her book, for example-ecological, behavioral, feminist, and institutional economics to complexity thinking.

Doughnut Economics provides game-changing analysis and inspiration for a new generation of economic thinkers with a simple, playful, and eloquent voice that has made it one of the best economics books for beginners.

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10. Common Sense Economics: What Everyone Should Know About Wealth and Prosperity

Common Sense Economics is concise, thoughtfully orga­nized, and reader-friendly. There are some basic economic principles that are always operating.  Whether the economy is growing, stagnating, or declining. For example-gains from trade, opportunity cost, the ability of prices to communicate information, the importance of diversification, the power of incentives.

Life-long Economics Educator James Gwartney, Richard Stroup, Dwight Lee, Tawni Ferrarini, and Joseph Calhoun know how to use the tools of economics to illuminate why both individuals and nations can prosper and be more successful.

Common Sense Economics provides a comprehensive and understandable explanation of the key principles of economics. Surely, this will help everyone make better personal and policy choices in the context of economics.

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Why Studying Economics is Important Today?

In fact, studying economics provides you with not just an understanding of human behavior, but also cultivates in students the problem-solving, analytical, communication and persuasion skills that are critical for success in today’s job market. Economists can provide key insights into how to make a product or service appeal more to customers by de-constructing their incentives and desires. The deep knowledge of consumer behavior, business policy, and volatile markets that economics provides you can help companies make intelligent decisions to promote greater business growth and success.

At present, companies are always eager to find better ways to make their value proposition clearer and more compelling; this is why skilled economists and economic analysts are in heavy demand across industries today. Following up on the study of economics with an MBA opens up lucrative opportunities in marketing, finance, and consulting, making it a vital first step onto a career path with exciting growth opportunities and prospects. This is one of the reasons that graduate in economics and postgraduates with a background in economics command some of the highest wages in the global job market.

Economics in Everyday Life

In our daily lives, we are called to make choices at our homes and in the marketplace, how much to spend and save, how to allocate our savings between different kinds of financial assets, whether to take a regular cab or an Uber, how much to pay for health insurance, whether to switch jobs, to move to a different city, where to go for vacation, and so on. These kinds of decisions are part of our everyday life that they are also the domain of much of what politicians constantly make promises to us about.

How would we evaluate what our elected leaders tell us? How would we participate in a democracy as responsible, informed citizens? It is tough for us to answer such questions without having a proper understanding of economics. Economics is a basic civic literacy requirement. It teaches us how to make choices, how to interact in society, how to evaluate the work being done by our elected representatives, and much more. Every citizen in a country needs to know economics so as to live and participate meaningfully in society.


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