Economics: Making Sense of the Modern Economy

by The Economist

An updated edition of the authoritative resource on the realities of the modern economy People have always had an interest in how the economy works, and that interest has only been magnified as a result of the Great Recession. Economics, Third Making Sense of the Modern Economy takes complex concepts and makes them easy to understand, presenting the concepts in the context of today's economic environment. Free of jargon and with few charts or tables to sort through and pore over, Economics, Third Edition helps everyone from students to statesmen quickly and easily grasp how the economy really works in the real world, and how it affects our daily lives.

Genres: Economics, Nonfiction, Business

368 pages, Paperback

First published January 1, 1999

About the author

The Economist is a globally trusted source for fact-checked reporting and analysis. We connect the dots—from politics, economics and business to science, technology and beyond—giving sharp insights into international news.

Reviews

[Donny · Rating 3 out of 5]

It's supposed to Make Sense of the Modern Economy, but for me it's Making No Sense of the Modern Economy. Sorry, but this is diving into the deep end, this book.

I have no background in economics beyond some Ariely, Levitt/Dubner and an occasional book about the collapse of CDO-backed securities triggering shockwaves across Wall Street and the world.

To say I learned nothing would be inaccurate, yet I can't say I learned a lot either. A lot flowed right past. I learned economics is simply a map with which we can use to try to make sense of the world. However it's at best an estimation, and at worse a wild buckshot in the dark with the nozzle pointed at humanity. Despite the best theories the securities bust happened, crises happened and will continue to happen. So it's really an examination of the various factors that influence the development of a nation.

This book bears a re-read, but hopefully when I'm more well-stocked on more econs fundamentals. I'm giving it 3 stars because it's not the book's fault that I didn't learn as much as I could out of this, simply because I'm a curious passer-by, not an econs major.

Having said this, I hope my subconscious retained enough to allow me to whip out random info to be entertaining in parties.

[Becky · Rating 3 out of 5]

This is not the introduction to economics I was expecting...whoops

[M. · Rating 2 out of 5]

A very unorganized presentation of the information. There are much better opportunities learning the same information

[Kathleen · Rating 4 out of 5]

Great reference material.

[Nosemonkey · Rating 3 out of 5]

Definitely dated (this edition was published in 2010-2011), but still interesting - not least as we now enter another downturn and so can take stock and see how much progress the dismal science has made in the last decade or so.

Simple answer: Some, but not enough.

Still, an accessible overview that introduces some interesting ideas in readable ways.

[Raul · Rating 4 out of 5]

A good recollection of articles about the 2008 financial crisis

[Mike · Rating 4 out of 5]

So much of everything around us relies on economics, yet so few of us understand or trust the dismal science. That is a shame because economics is essentially the building blocks of everything. The financial crisis, austerity measures and their counter-arguments, measures taken to protect communities from climate change - economics has a key role to play in all of this and a great deal besides.

This book, from an Economist series, is a reasonably good attempt to overlay economic theory with recent issues in the world through economics, and is a good start for anyone looking for how economics works in practice.

[Rides and Strides · Rating 3 out of 5]

To be frank, I bought the Kindle edition in October last year, skimmed a few chapters over the following couple of months and then forgot all about it till February this year. A welcome break from (neo)classic Economics textbooks, I appreciate The Economist’s effort in putting complicated concepts into layman’s terms.

[yama · Rating 5 out of 5]

very informative, I would strongly recommend it