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Intended primarily for one semester survey courses in general economics, this text also provides practical content to current and aspiring industry professionals.
Learn how to think like an economist.
The Economic Way of Thinking goes beyond explaining the basic principles of micro- and macroeconomic analysis by showing readers a method of reasoning that teaches them how to apply these principles as tools. The authors expose readers to a method of reasoning that makes them think like an economist through example and application and also shows them how not to think, by exposing errors in popular economic reasoning.
The latest edition has been thoroughly updated with current material.
- Sales Rank: #47388 in Books
- Brand: Brand: Prentice Hall
- Published on: 2013-07-13
- Original language: English
- Number of items: 1
- Dimensions: 9.10" h x .80" w x 7.30" l, 1.25 pounds
- Binding: Paperback
- 456 pages
- Used Book in Good Condition
Most helpful customer reviews
29 of 30 people found the following review helpful.
One of the best Economic textbooks I've read
By J A W
Heyne begins w/ the first principles of economics: how human beings interact on a mass scale, and the positive consequences of those actions, and the negative consequences of interferring w/ voluntary human interaction. He then carries the reader through the traditional economic concepts of Supply and Demand, Specialized Labor, Externalities...all focused through the lens of the "Economic Way of Thinking".
Make no mistake--this book is a substantive, philosophical refutation of "Statism". Heyne hits Comparative Advantage, Price Theory, Rule of Law, and Private Property hard (in the affirmative), and if you're for tariffs, regulated prices, arbitrary Gov't intervention, and public property, your views won't be validated. All the more reason for you to read this book, and understand why so many stamp their foot down against politicized economic policies that superficially sound and feel so good. Heyne's lesson is to think on a macro-scale, think about the unintended consequences of mass social change, for that is the Economic Way of Thinking.
16 of 17 people found the following review helpful.
Very different way of teaching economics - I like it
By Nhon Quach
I recently took a course that used this as the main textbook. When I read the book the first time before the course started, I didn't like it at all and was thinking of dropping the course. But after the course started and the professor went over the material in greater detail, I began to understand and appreciate why the authors chose to write the book this way, instead of in the way most conventional textbooks are written -- define and explain new terms or concepts, etc.
Like other conventional economic textbooks, the Economic Way of Thinking teaches major concepts in micro and macro economics (such as supply and demand, inflation, GDP, etc.) but teaches them in a much more engaging way -- not just a collection of facts, definition of terms or concepts, etc. The authors pointed out the importance and subtlety in each new term or concept. That gave me additional insight into the material in the book. I also found the exercises at the end of the chapters very useful.
14 of 15 people found the following review helpful.
The best book about economics ever written
By A Reader
Warren Buffet once said of Benjamin Graham's Intelligent Investor: "I read the first edition of this book early in 1950, when I was nineteen. I thought then that it was by far the best book about investing ever written. I still think it is."
Allow me to paraphrase, loosely though with verity in the details. I read the eleventh edition of this book early in 2003, when I was nineteen. I thought then that it was by far the best book about economics ever written. I still think it is.
This book lit a fire in me that led me to my college major, my career, and one of my life's great passions, the study of economics. Heyne guides us with the simple but powerful idea of economics, that scarcity is the ultimate factor in all our choices. What motivates people to organize and to specialize? And, given the scarcity constraint, in what manner would we expect that they organize and specialize? The thesis recurs and builds on itself in a most elegant manner throughout the text.
I cannot say how powerful this text is. I have taken graduate courses in economics but none come close to explaining the world like this book. I have read it several times over, and all to whom I recommend this book have been equally impressed by its power and beauty.
As I mentioned this is one of the few books that has forever guided the way I think about the world. READ THIS BOOK!
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