Ever wondered which economics and finance books you should read? here is our opinion.
Whether you want to refresh your knowledge, read a new topic, or entertain yourself with a story, the right book can provide valuable insights into the world you want to explore.
You are reading: Best books on finance and economics
We have done research on the best economics and finance books that most universities recommend for their students.
We also considered expert and reader reviews to generate an article on the top economics and finance books you should read today.
This list helps researchers who are stuck in their daily routine to develop their next innovative ideas.
for a layman, this helps him become a well-read lifelong learner.
Let’s look at the introduction, summary, and key points of each book.
summary of the best economics and finance books
part i: best economics books
- steven landsburg’s armchair economist (gets the book)
- tim harford’s undercover economist (gets the book)
- jacob soll’s calculus (gets the book) book)
- the wealth of nations by adam smith (get the book)
- freakonomics by steven d. levitt (get the book)
- good economics for tough times by abhijit v. banerjee and esther duflo (get the book)
- factfulness by hans rosling (get the book)</li
- the return of economics from the depression and the crash of 2008 by paul krugman (get the book)
- zombie economics by john quiggin (get the book)
- principles for dealing with the changing world order: why nations succeed and fail (get the book)
part ii: finances / investment
- the intelligent investor by benjamin graham (get the book)
- capitalism and freedom by milton friedman (get the book)
- a random walk down wall street ( get the book) the book)
- fooled by randomness (get the book)
- benjamin graham security analysis (get the book)
- the creature from george edward griffin’s jekyll island (get the book)
part i: best economics books
steven landsburg’s armchair economist
introduction: why you should read it
The Armchair Economist was originally published in 1993. Every economics student should take it to learn Steven Landsurg’s economic theory. as well as economic history. he shortened his theory to four magic words “people respond to incentives”.
summary: what this book is about
Written by an economics professor, the book explains some of the true nature of politics. armchair economist covers a wide range of topics, from the budget deficit, economic growth, unemployment, and cost-benefit analysis.
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key takeaways
- use economic theory to solve today’s challenges.
- focus on timeless principles proven over and over again. that’s what the armchair economist does.
- When people give in to incentives, uncomfortable results follow.
tim harford’s undercover economist
introduction: why you should read it
Recommended by economists new york times, business today, daily telegraph (uk) and steven levitt, the author of freakonomics, this book is an intriguing read even for those with no prior knowledge of economy.
summary: what this book is about
This book clarifies advanced economic theories through simple examples.
Written by financial times columnist tim harford, the book is a primer for understanding economic trends, the market economy, and global economic progress.
The undercover economist also exposes some of the secrets about the dollar.
The book covers game theory, guerrilla pricing and high rental rates in the UK (London) without jargon.
key points
- Economics is a relevant topic that applies to many disciplines.
- Free market forces affect us on a daily basis.
- Economic theory can provide answers to various challenges in the world.
The Reckoning: Financial Responsibility and the Rise and Fall of Nations by Jacob Soll
introduction: why you should read it
reckoning is highly recommended by investopedia.
Written by a historian, this innovative publication uses historically wealthy individuals to emphasize financial responsibility.
The Reckoning is also highly rated as one of the best finance books by the Wall Street Journal, Global Finance and Pulitzer Prize winner Jack Rakove. finance students will find this book rich in information about the financial world.
summary: what this book is about
jacob explains the importance of honesty in accounting. links the decline of the economic world with questionable financial accounting.
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key takeaways
- be knowledgeable about history. Jacob Soll argues that history is the foundation of many great empires.
- Take responsibility for every decision you make.
- Financial responsibility grows a society.
An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith
introduction: why you should read it
“The Wealth of Nations” is an all-time classic for any serious student of economics and finance. It is likely that her own author has already recommended the book to you so that she can build a solid foundation for economic knowledge about economic history.
Did you know that it was also published in 1776, the same year of the declaration of independence?
summary: what this book is about
adam smith explains that the primary purpose of an economy is to create wealth. he also argues that the government should not interfere with the economy, as this will only lead to corruption. the book tries to answer the question why some nations are richer than others.
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key takeaways
- Wealth is created through economic activity, not government intervention.
- Corruption occurs when the government meddles in the economy.
- some nations are richer than others because they have more economic activity.
freakonomics: a maverick economist explores the hidden side of everything by steven d. Levitt and Stephen J. bender
introduction: why you should read it
freakonomics is recommended by investopedia.
a collaboration between steven levitt, a professor at the university of chicago, and stephen dubner, a journalist for the new york times, produced an economics book that sold more than 4 million copies.
summary: what this book is about
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This powerful book employs clear publication language, case studies, questions, and puzzles to explain topics that seemed unrelated but belong largely in the social sciences category.
uses sumo wrestlers, drug gangs, trainee teachers, realtors, and the pool question to highlight violent crime, drug dealing, and cheating.
freakonomics is a simple introduction to economics. Steven recommends the use of statistical analysis to address the problems of everyday life.
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key takeaways
- analyze everything carefully. make your decisions based on solid statistical data.
- be open to alternative possibilities. freakonomics concludes that the decline in the crime rate in the late 20th century was due in large part to the ready availability of abortions.
- prepare to defy conventional wisdom.
good economics for hard times by abhijit v. banerjee and esther duflo
introduction: why you should read it
Written by Nobel Prize winners, Good Economics For Difficult Times is a book you should read to understand sound economic principles and deconstruct some myths while you’re at it.
summary: what this book is about
The book traces the problems of the financial world and gives solutions to all of them. Factors affecting economies described in this book include income inequality, immigration, technological unemployment, climate change, globalization, and slow economic growth.
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key takeaways
- The poor make better decisions, not what many think.
- Economic research is valuable in solving problems that affect economies.
- Immigrants they rarely take jobs from native workers. . the belief that an increase in immigrants will lead to a decrease in wages is false.
Fact: Ten Reasons We’re Wrong About the World and Why Things Are Better Than You Think by Hans Rosling
introduction: why you should read it
Factfulnesss is no ordinary economics textbook, but it is essential to understanding the world. bill gates highly praised the factuality of the graduates. melinda gates and barack obama are other notable personalities who recommend factfulness.
summary: what this book is about
hans rosling argues that most people have incorrect information about the world. these people believe that the world is more dangerous, less healthy and poorer than it is.
rosling opposed the idea of grouping nations into “developing countries” or “developed countries”. the book indicates why the author feels this system is outdated. instead, factfulness proposes a four-category grouping system based on personal income.
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key takeaways
- support your opinions with statistical data. get rid of those you can’t support and you will be stress free.
- when we look at the world through statistics, we will see that the world is not as dangerous, sick or poor as the media. they make you think.
- human progress is slow due to the vast amount of misinformation we have.
the return of economics from the depression and the crisis of 2008 by paul krugman
introduction: why you should read it
Famous economist and award-winning author, Paul Krugman’s The Return of Economics from the Depression and the Crash of 2008 promotes a better understanding of the economic system.
The book uses plain publishing language to discuss the US financial system and draw comparisons to the Great Depression.
summary: what this book is about
This book explores the 2008 liquidity crisis, looking at economic market downturns and the risks associated with the US banking system.
paul krugman discusses topics ranging from economic history to the 2008 financial crisis.
krugman proposes the application of lessons learned in the great depression to address current problems.
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key takeaways
- The above solutions may be useful today. you just have to be careful when reintroducing them.
- be bold, courageous and critical when making decisions.
- always be prepared for challenging situations and crises in life. there is no smooth road, not even in economics.
zombie economics: how dead ideas still walk among us by john quiggin
introduction: why you should read it
If you’re looking for a book that explores the relationship between politics and economics, you’ve got one now. zombie economics is a good economics book on the great recession.
summary: what this book is about
John Quinn points to the breakdowns that led to the financial crisis of the late 2000s. He talks about how these flaws still haunt us and will remain a part of us until we resolve them.
The book also covers assumptions related to market liberalization and other topics ranging from private property, DSGE (Dynamic Stochastic General Equilibrium) modeling, moderation economics to efficient financial markets.
Overall, this book is valuable for students and professionals.
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key takeaways
- humility is essential, but true wisdom is gold.
- important to understand continuity and change.
- make sound policy based on statistics, so nathan lies.
Principles for dealing with the changing world order: why nations succeed and fail
introduction: why you should read it
ray dailo is the founder of bridgewater associates, the largest hedge fund on the planet. naturally, when you share your knowledge, people want to listen.
This book is great for understanding the patterns of what happened in the past, so we can better prepare for the future.
summary: what this book is about
history, according to mr. dalio, it is cyclical, a “perpetual motion machine”. great cycles occur in large countries, oscillating between “peaceful and prosperous periods of great creativity and productivity” and “periods of depression, revolution and war when there is much struggle for wealth and power and much destruction”.
The cycle of good and bad finances, the cycle of order and disorder within a nation, and the cycle of order and disorder externally are all important, according to him. Mr. Dalio compares the periods of “boom and bust, peace and conflict” to “the tide that rises and falls.” he cannot help but conclude that his belief in the ineluctable “cycles” of history is tinged with fatalism.
also reflects on the history of the three countries that have given the world its most recent reserve currency. the Dutch were the first to “create” capitalism and ships that traveled “all over the world to acquire wealth.”
The demise of the Dutch guilder occurred at the same time as the rise of Great Britain and the pound, which gave way to the American empire and the dollar after 1945.
mr. Dalio claims that really big booms and busts “happen about once in a lifetime,” and that the best way to avoid being caught off guard by any of them is to be well-versed in “the patterns of history over many generations.” generations”. investors, and by extension nations, are better equipped to weather cyclical fluctuations when they study history.
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key takeaways
- knowing history helps you be a successful investor
- china will rise to replace the united states as the dominant world power
- major conflicts usually occur when the world changes world order
part ii: finances / investment
the intelligent investor of benjamin graham
introduction: why you should read it
If you’re looking for a value investing book, start with the original. This book formed the basis for other investment and finance books. the concepts highlighted in this book continue to be valuable to many readers today.
summary: what this book is about
warren buffett, the gifted investor, is one of graham’s famous disciples. he praises The Intelligent Investor as the best investment book ever published.
The book covers inflation, stock market history, portfolio policy, dividend policy, and stock selection.
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key takeaways
- value investing protects investors from mistakes.
- value investing helps investors have long-term policies.
- graham’s philosophy it focuses on minimizing losses rather than maximizing profits.
capitalism and freedom by milton friedman and binyamin appelbaum
introduction: why you should read it
Milton Friedman’s classic book is a book on policymaking and economic thought that you won’t soon forget. the award-winning author proposes a powerful economic theory that has been the basis for economic growth ever since.
summary: what this book is about
friedman presents his statement on an economic philosophy, which argues that competitive capitalism can be a tool for achieving political and economic freedom.
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key takeaways
- The central bank can stabilize a nation’s economy during a recession by gradually increasing the money banks can lend.
- Increasing the money banks can lend is one way to break down recession.
- competitive capitalism is a fundamental requirement for political freedom.
a random walk down wall street: the proven strategy for successful investing by burton malkiel
introduction: why you should read it
If you are going to read a book in this category, make it this one. the book is a best-selling investment guide for students and professionals.
summary: what this book is about
Burton Malkiel Authorized Accounts in A Random Walk highlights modern bitcoin investing topics, tax management, risk parity, and factor investing.
The book also covers home ownership, mutual funds, bonds, stocks, and tangible asset insights.
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key takeaways
- Markets, while inefficient, move toward efficiency over time.
- Financial tools that determine the degree to which a stock is overvalued are often inaccurate.
- be a believer who is open to opposing points of view.
fooled by randomness: the hidden role of chance in life and markets by nassim nicholas taleb
introduction: why you should read this book
another great book that almost all investment professionals will say they have read.
summary: what this book is about
This book continues to popularize the concept of black swan events. The author has many other books that one must read to be financially brilliant, such as Anti-Fragile.
as one of the best in taleb’s incerto series, fooled by randomness examines luck and how it applies to business. the book deals with opacity, uncertainty, luck, probability, risk, decision making, and human error.
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key takeaways
- luck is not a skill as it is seriously misunderstood in business.
- sometimes we get opportunities not because of our skills but because of perfect timing.
- Understand that happiness is subject to change and may not be forever.
security analysis: principles and technique by benjamin graham
introduction: why you should read it
security analysis is one of the most influential books in finance, according to warren buffett. he recommended it as a must-read for any budding investor. a 1940’s classic serves as one of the bibles for finance professionals.
summary: what this book is about
The current version of this book contains an additional 200 pages of commentary from some of Wall Street’s famous money managers. Plus, a foreword by Warren Buffet where he admits that he’s read the book more than four times.
Based on Graham’s original version, this revised edition highlights the relevance of Graham’s techniques and principles today.
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key takeaways
- The market’s tendency to undervalue securities presents an opportunity for traders.
- An investment is a transaction that guarantees returns and secures your principal.
- know the value of the company you want to invest by calculating its intrinsic value.
george edward griffin’s jekyll island creature
introduction: why you should read it
although it sounds like a fiction book, this book is about the origin of the feds. The Creature from Jekyll Island is recommended by the somewhat controversial Robert Kiyosaki, author of Rich Dad Poor Dad. This book will change his perspective on money.
I recommend this book because you probably won’t hear this book from your teacher.
summary: what this book is about
Griffin’s narration is perfect for this detective-style book that reveals the secrets of the Federal Reserve System.
The book exposes the cause of economic disasters, inflation, war, depression and prosperity.
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key takeaways
- The fed is the tool through which powerful people run this nation.
- A group of powerful people controls most politicians and the media.
- These wealthy people invest in war.
conclusion
a book is everyone’s true friend. Finding the right book shouldn’t be a struggle. most readers prefer to read books that are relevant today.
We bring you microeconomics, behavioral economics, finance, and economics books recommended by universities, professors, and other experts in specific fields.
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