If you’re already an economics student or about to start an economics course in college, you probably don’t want to read more monotonous and boring economics textbooks. ‘why isn’t there a fun way to learn these things?’ you think. fear not! we’ve selected seven of the most entertaining books out there (which happen to be about economics…) read on and before you know it, you’ll have a load of interesting economics insights, without even realizing you’ve learned them.
freakonomics by steven d. Levitt and Stephen J. bender
freakonomics has often been described as one of the most popular economics books of all time, and there’s a reason for that! If you’ve ever wondered why drug dealers tend to live with their mothers, what real estate agents and kkk have in common, and which is more dangerous: a gun or a swimming pool, then this is the book for you. freakonomics answers the questions that nobody thought to ask, because they were too absurd! This novel, the first of its kind, manages to amuse you and start you seeing the world from an economic perspective – perfect for an economics major!
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thinking, fast and slow by daniel kahneman and amos tversky
Written by Nobel Prize winner Daniel Kahneman and mathematical psychologist Amos Tversky, this is an incredibly insightful book, challenging the classical economic assumption that people always act rationally. for example, this book explains why we’re more likely to believe something written in bold, and why we’re more likely to believe attractive people are more competent. It is a novel that helps us understand both the decisions we make ourselves and the decisions made by those around us. Reading this article not only helps you make better decisions, but it provides an excellent insight into behavioral economics, which will definitely help you in your economics course at some point.
the undercover economist by tim harford
This book has to be one of my personal favorites on this list. Mainly because it starts off by explaining why Starbucks in a London train station charges so much for coffee, and goes on to talk through similar real-life scenarios. this is a book that shows you that economics plays an important role in every section of your life, and how knowing the economics behind these everyday things can help you understand the world a little better.
23 things they don’t tell you about capitalism by ha-joon chang
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This book takes the biggest myths of today’s society and turns them upside down and inside out. for example, explain why the washing machine has changed lives more than the internet. chang explains at the beginning of the novel that, despite the name, the book is not anti-capitalist and does not intend to take sides but to explain the realities, although he says “despite its problems and limitations, I believe that capitalism is still the best system economy that mankind has invented. this one will make you question everything you know.
animal spirits of akerlof and shiller
animal spirits is a bit heavier reading than some of the books on this list, but it’s also one of the most important. the book discusses the role emotions play in economic decision making which is really interesting and at the same time gives a great overview of basic Keynesian ideas which is extremely helpful if you are entering a course in degree in economics or currently studying one. Plus, teachers love this book, so you’ll get big points for saying you’ve read it.
the armchair economist by steven e. landsburg
the armchair economist is a lot like freakanomics and the undercover economist in the way it explains the economics of everyday life, in a fun and up close way. the author acknowledges this in the introduction and explains “freakonomics wants to dazzle you with facts; the armchair economist wants to dazzle you with logic.” he should read the armchair economist if he wants answers to questions like “why the safer a car becomes, the more accidents the driver has?” and “how much would the average person risk their life for a starbucks mocha frappachino? don’t act like you don’t want to know!
the black swan: the impact of the highly improbable by nissim nocholas taleb
this was on my suggested reading list for my economics course, and although it can be quite dense in parts, the general idea is really great! the central idea of the book is that even if an event is extremely unlikely, such as a black swan existing when no one has ever seen it, it does not mean that the event is impossible (since black swans exist). the book goes on to explain how a significant unexpected event can have massive consequences. This one is also liked by economics professors, in case you were wondering, and is a good one to mention in class.
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Hopefully, there will be something on that list that you like. each of the books on the list will give you a good idea of at least one economic theory, and you can refer to them in essays, etc. while you’re in college, so they’re definitely worth reading.
Happy reading!
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