Grade 11 Summer Reading for Economics@2021: Home

The winners of the Nobel Prize in Economics upend the most common assumptions about how economics works in this gripping and disruptive portrait of how poor people actually live. Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two award-winning MIT professors, answer these questions based on years of field research from around the world. Called "marvelous, rewarding" by the Wall Street Journal, the book offers a radical rethinking of the economics of poverty and an intimate view of life on 99 cents a day. Poor Economics shows that creating a world without poverty begins with understanding the daily decisions facing the poor.

Naked Economics makes up for all of those Econ 101 lectures you slept through (or avoided) in college, demystifying key concepts, laying bare the truths behind the numbers, and answering those questions you have always been too embarrassed to ask. For all the discussion of Alan Greenspan in the media, does anyone know what the Fed actually does? And what about those blackouts in California? Were they a conspiracy on the part of the power companies? Economics is life. There's no way to understand the important issues without it. Now, with Charles Wheelan's breezy tour, there's no reason to fear this highly relevant subject. With the commonsensical examples and brilliantly acerbic commentary we've come to associate with The Economist, Wheelan brings economics to life. Amazingly, he does so with nary a chart, graph, or mathematical equation in sight--certainly a feat to be witnessed firsthand. Economics is a crucial subject. There's no way to understand the important issues without it.

Acentury ago, migrants often crossed an ocean and never saw their homelands again. Today, they call - or Skype - home the moment their flight has landed, and that's just the beginning. Thanks to cheap travel and easy communication, immigrants everywhere stay in intimate contact with their native countries, creating powerful cross-border networks. InBorderless Economics, Robert Guest,The Economist's Business Editor, travels through dozens of countries and 44 American states, observing how these networks create wealth, spread ideas and foster innovation. He shows how: * Brainy Indians in America collaborate with brainy Indians in India to build $70 fridges and $300 houses * Young Chinese study in the West and then return home (where they're known as "sea turtles"), infecting China with ideas that will eventually turn it democratic * The so-called "brain drain" - the flow of educated migrants from poorcountries to rich ones - actually reduces global poverty *America's unique ability to attract and absorb migrants lets it tap into the energy of all the world's diaspora networks. So despite its current woes, if the United States keeps its borders open, it will remain the world's most powerful nation indefinitely. With on-the-ground reporting from Asia, Africa, Europe and even Idaho, this book examines how migration, for the all the disruption it causes, makes the world wealthier and happier.

It is an ambitious book whose objective is to change the ways economists think and the economics is framed in order to respond to the “limits to growth”. It thus reconsiders the organization of the economy, from the financial sector, money creation, ownership structure of companies to the distribution of assets. The book is probably better than its competitors in the area. For example, Raworth’s discussion of inequality where she argues for the equalization of endowments rather than expansion of policies that redistribute current income, makes lots of sense. Suggestions for the use of various incentives to make companies more environment-friendly are also plausible. Perhaps even the imaginative use of electronic currencies may help.

Witty economists are about as easy to find as anorexic mezzo-sopranos, natty mujahedeen, and cheerful Philadelphians. But Steven E. Landsburg...is one economist who fits the bill. In a wide-ranging, easily digested, unbelievably contrarian survey of everything from why popcorn at movie houses costs so much to why recycling may actually reduce the number of trees on the planet, the University of Rochester professor valiantly turns the discussion of vexing economic questions into an activity that ordinary people might enjoy.

This thoughtful new abridgment is enriched by the brilliant commentary which accompanies it. In it, Laurence Dickey argues that the Wealth of Nations contains--and conceals--a great deal of how Smith actually thought a commercial society works. Guided by his conviction that the so-called Adam Smith Problem--the relationship between ethics and economics in Smith's thinking--is a core element in the argument of the work itself, Dickey's commentary focuses on the devices Smith uses to ground his economics in broadly ethical and social categories. An unparalleled guide to an often difficult and perplexing work.

The Economic Naturalist employs basic economic principles to answer scores of intriguing questions from everyday life, and, along the way, introduces key ideas such as the cost-benefit principle, the "no cash left on the table" principle, and the law of one price. There is no more delightful and painless way of learning these fundamental principles. The book is a compilation of short essays from the author's students. Briefly, the author invited his students to think of an interesting question and then answer it​.

The Wealth and Poverty of Nations is David S. Landes's acclaimed, best-selling exploration of one of the most contentious and hotly debated questions of our time: Why do some nations achieve economic success while others remain mired in poverty? The answer, as Landes definitively illustrates, is a complex interplay of cultural mores and historical circumstance. Rich with anecdotal evidence, piercing analysis, and a truly astonishing range of erudition, The Wealth and Poverty of Nations is a "picture of enormous sweep and brilliant insight" (Kenneth Arrow) as well as one of the most audaciously ambitious works of history in decades.

"Readers cannot but be provoked and stimulated by this splendidly iconoclastic and refreshing book." ―Andrew Porter, New York Times Book Review

Key Ideas in Economics examines a selection of the major philosophies of those who have increased our knowledge and helped shape our understanding of economics and its impact on society past, present and future.

This book provides readers with a basic introduction to economic concepts, from supply and demand to stocks, bonds, and savings accounts.

In his mega bestseller, Thinking, Fast and Slow, Daniel Kahneman, world-famous psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation--each of these can be understood only by knowing how the two systems shape our judgments and decisions. Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives--and how we can use different techniques to guard against the mental glitches that often get us into trouble. Topping bestseller lists for almost ten years, Thinking, Fast and Slow is a contemporary classic, an essential book that has changed the lives of millions of readers.

Coming soon: Nudge: The Final Edition From the winner of the Nobel Prize in Economics, Richard H. Thaler, and Cass R. Sunstein: a revelatory look at how we make decisions--for fans of Malcolm Gladwell's Blink, Charles Duhigg's The Power of Habit, James Clear's Atomic Habits, and Daniel Kahneman's Thinking, Fast and Slow * More than 1.5 million copies sold * New York Times bestseller * Named a Best Book of the Year by The Economist and the Financial Times Every day we make choices--about what to buy or eat, about financial investments or our children's health and education, even about the causes we champion or the planet itself. Unfortunately, we often choose poorly. Nudge is about how we make these choices and how we can make better ones. Using dozens of eye-opening examples and drawing on decades of behavioral science research, Nobel Prize winner Richard H. Thaler and Harvard Law School professor Cass R. Sunstein show that no choice is ever presented to us in a neutral way, and that we are all susceptible to biases that can lead us to make bad decisions. But by knowing how people think, we can use sensible "choice architecture" to nudge people toward the best decisions for ourselves, our families, and our society, without restricting our freedom of choice.

In vivid detail, Francis Wheen tells the story of Das Kapital and Karl Marx's twenty-year struggle to complete his unfinished masterpiece. Born in a two-room flat in London's Soho amid political squabbles and personal tragedy, the first volume of Das Kapital was published in 1867, to muted praise. But after Marx's death, the book went on to influence thinkers, writers, and revolutionaries, from George Bernard Shaw to V. I. Lenin, changing the direction of twentieth-century history. Wheen's captivating, accessible book shows that, far from being a dry economic treatise, Das Kapital is like a vast Gothic novel whose heroes are enslaved by the monster they created: capitalism. Furthermore, Wheen argues, as long as capitalism endures, Das Kapital demands to be read and understood.

The turn of the last century witnessed a spate of high profile protests, most visibly in 1999 at trade negotiations in Seattle, against global inequities perpetuated by unfettered corporate capitalism and vested interests. The targets for their frustrations were those organisations charged with financing the rebuilding of Europe following the devastation of World War II, and to promote fair trade: namely the International Monetary Fund (IMF), the World Bank, and the World Trade Organisation (WTO). It is within this context that Joseph Stiglitz explored the failings of the international financial system towards developing countries in his 2002 book Globalization and Its Discontents.

'There's no such thing as a free lunch' is the one phrase everyone has heard from economics. But why not? Never? What does economics tell us about the price of lunch - and everything else in the world? This is the perfect introduction to economics. It is not some dreary textbook, but an explanation of how economics works and how it can help to solve all sorts of interesting problems. Written for the lay reader, this book makes the economics pages of the newspaper intelligible, the financial pages interesting and answers questions all of us worry about, like how can house prices carry on rising so much? Is there no limit to the increase in their prices? Set out like a good lunch-time conversation, the book follows the course of a meal, with starters (the introduction), main course and then the discussion which one always has at the end of a good meal. And along the way there are a few guest speakers (Adam Smith, Karl Marx and John Maynard Keynes) who make appearances to enliven the meal and entertain and inform us, the diners. This is a clever, completely original and witty introduction to economics. It costs less than even the cheapest meal and is far more satisfying than even the most gourmet banquet.