Best Economics Books for Beginners

 The 5 Best Economics Books for Beginners

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Economic is a very broad term, which covers so many areas of the transaction, credit line, mortgage, real estate Etc. Especially, if you don’t have any background and expertise like an economist-your knowledge may be limited just within the school or university you learned.

By spending extra effort and time to accumulate basic knowledge overtime, you are most likely to understand the foundation terms and principles associated with economics and know how the economic machine works in terms of stock market movements, market recession, deleverage, interest rates as well as consumer spending patterns, which I think it is a phenomenon aspect from investing perspective.

There are five best economics books that help you dive deeper into the world of economy, even if you don’t have a background or degree in economics. I will list those best books here for your quick review, you should continue to read for more detail.

 

1. Freakonomics-Economics Book– it is one of the best economics books for beginners as it provides the foundation concepts and knowledge to understand the overall picture in simple terms.

2. Thinking, Fast and slow– The best psychology book.

3. Economic in One Lesson– Best for students and beginners to learn the economic terms and concepts

4. Basic Economics – Best for understanding how different economic systems work (investment books)

5. The Economics’ Hour– Best for economic policies such as deregulation, interest rate, capital markets, and the wealth of nations (investment books).

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The list of best economics books for beginners

The following are the top 5 best economic books- investment books, which you may have at least one on your bookshelves to get familiar with how the economic machine works.

2. Freakonomics- Best Economics Books.

The very first economics book is worth mentioning that is Freakonomics by Steven D. Levit & Stephen J. Dubner, the co-authors clearly made the analysis on the cause and effect of macro-economic, which impact directly on individuals in terms of making decisions. 

After reading this great material, readers will get familiar with some economic terms that authors mentioned throughout the book. Based on my experience, I have learned several new concepts and economic terms that help me to better understand what is going on with the current global economic situation.

 

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The Freakonomics book is an interesting book to read for those who want to understand how the economic machine operates based on individual and microeconomic decisions.

Read next: The Millionaire Fastlane by MJ DeMarco: Book Review & Summary 2022

2. Thinking, Fast and slow- the best psychology book (Best Economics Books)

“Thinking, Fast and Slow” by Daniel Kahneman is a New York Times bestselling book because the main aspect is to teach you how to build mental toughness in good and bad times. Thus, readers will be better at making decisions associated with their everyday lives.

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Use the link to read the book.

 

In addition, readers will also explore the psychology concepts in this book, where you will learn how the mind work and present, the two factors that impact the way we think and make decisions. In particular, the first concept is thinking fast and emotion- you are likely to make mistakes on system 1 because your emotional attachment causes making bad and illogical decisions.

The second concept highlights the way to slow down and make more logical decisions, especially, when you are in crisis and you need to think, evaluate and take action. And most likely you will make the right and logical decision.

Overall, this is the best book about psychology, where you will learn a lot in terms of controlling your emotional fortitude and be able to reap the benefits of being patient in the investing world.

Read next: The 6 Best Personal Finance Books in 2022

3. Economic in One Lesson –Best Economics Books

“ Economic in One Lesson” was first published in 1946 and until today the concept behind this book is still relevant to the modern economic world. In particular, The book is particularly suitable for students and beginners to learn basic concepts and economic terms, which they can use to understand the global economy’s current situation.

 

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Use the link to read the book.

 

Interestingly, The author emphasizes the negative influence of government spending too much, where the expenses exceed income. As a result, the global economy may get affected by those spending activities.

“The Economic One Lesson” is among my favorite economics books due to the fact that the author uses easy language and terms to explain the main concept in the book. I highly recommend it to those who want to learn basic knowledge associated with the global economy

Read next: Best Book For Day Traders in 2022

4. Basic Economics-Best Economics Books

Thomas Sowell is the author of Basic Economics, this book educates you to get familiar with different types of economic systems such as capitalism and socialism, where he clearly explained each concept in a logical and easy-to-understand story.

For example, the author explains in more detail how the two different economic ideologies run and manage the macroeconomics, which impacts directly on the productivity and the movement of goods by trading.

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Use the link to read the book.

 

By providing real-life examples in the world economy, readers will get a sense of understanding of how the economic machine works that place an impact on people who live within the country’s economy.

If you want to understand the general knowledge of economics and understand how different economic systems work then this book is the one you should read.

Read next: Book Review & Summary: Why The Rich Are Getting Richer By Robert Kiyosaki 

5. The Economics’ Hour-Best Economics Books

“ The Economic Hour” was published by Binyamin Appelbaum, where the author highlighted the number of policy factors that impact directly the global economy. In particular, the global economy is pretty much affected by the U.S economic policies such as deregulation, interest rate, and capital markets

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Use the link to read the book.

 

In addition, “ The Economics’ Hour also underlines the importance of individual intellectuals rather than the society or organization as a whole. In other words, world economics is shaped by a small group of people who have power and influence on policymakers and regulators.

Those factors are directly interconnected with “The Wealth of Nations” theory because society is based on individual contributions, which defines economics.

 

By Jiro Nguyen.

The content is only based on the author’s personal opinion and his understanding. It is used for informational purposes only, and you must not rely on it as a comprehensive or a substitute for professional advice.

 

FAQ SECTION

What are best economics books for beginners?

The following are 5 best economics books for beginners to read in 2022. 1. Freakonomics 2. Thinking, Fast and slow 3. Economic in One Lesson 4. Basic Economics 5. The Economics’ Hour

What are best macroeconomics books to read?

Here is the list of best macroeconomics books. 1. Freakonomics 2. The Economics’ Hour 3. Economic in One Lesson

By Jiro Nguyen

Jiro Nguyen is a highly driven and skilled business management professional. He has an MBA in economics and management and is a founder of Jns-millennial.

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