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The Economic Way of Thinking

4.11  ·  Rating details ·  163 ratings  ·  16 reviews
Meant for a one-semester survey course in general economics, this book develops the basic principles of micro and macroeconomic analysis, and employs them as tools rather than ends. It introduces a method of reasoning to think like an economist through example and application. It presents the errors in much popular reasoning about economic events.
Paperback, 558 pages
Published February 11th 2005 by Prentice Hall (first published 1973)
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Angela
Nov 25, 2007 rated it it was amazing
Recommends it for: anyone who'd like to figure out what the whole "economics" thing is about, really
Shelves: nonfiction-text
Can't believe I'm giving five stars to a textbook! But then again, I can't remember ever actually reading a textbook through, start to finish. This book really was amazingly well written, insightful, and informative. n.b: it is written to a freshman-in-college level audience, but that mostly shows up in some of the examples used. I think I would have read it even if I hadn't had to!
მარიამ
Feb 07, 2019 rated it did not like it
ამაზე მეტად ფიზიკურად ვერ შემზიზღდება წიგნი და ვერც საკუთარი თავი, ამის მეორედ წაკითხვა რომ მომიწია. IMENA NAXVAMDIS
Marek Svoboda
Mar 09, 2013 rated it it was amazing
The best textbook of ANYTHING I ever read - in other words, not only valuable in content but the very best in methodology and approach. Stimulates thinking about economy and in general.
Zhijing Jin
Jun 28, 2020 rated it really liked it
Summary: This book explains the many simple but important concepts of economics. It focuses on how to make more people "literate" in economics, and apply the concepts when we read news.

Takeaways:
1. Concept of "exchange": This is the "worldview" of economists. We are always exchanging one thing for another. Here are some examples:
(a) skilled craftsmen exchange age/time for experience.
(b) You can hear some teachers saying that they know more because are just older than you, and when they are the
...more
Aza
May 20, 2018 rated it it was amazing
GREAT BOOK!

It was kind of a review of all my four year courses in Economics & Finance.
The point of view to the governmental politics, people's opinions about country's economics is wonderfully illustrated.
I read in Russian, and the translation wasn't the best, as most of the economic terms are better understood in English.
The book is mainly for american economy, however, the logic is irrefutable for any economy.

Really loved the book. My sincere gratitude to the author!
...more
Raam Gsv
Jun 08, 2020 marked it as to-read
TO read the book for improving knowledge towards economics, market, and business
Tornike Bratchuli
Oct 05, 2017 rated it liked it
Shelves: nonfiction
5 ვარსკვლავი არ ეყოფა ამას :(((
Fiddlinmike
Aug 16, 2014 rated it really liked it  ·  review of another edition
This is an economics textbook that actually teaches something useful. There are some charts and graphs, but the main focus is to develop a thought process, not to present vocabulary and formulas to memorize. The first half of the book focuses on basic human interactions that define "economics" using simple examples. Armed with that understanding, the reader moves to the second half to understand more "macro" issues that will be familiar to anyone who pays attention to national news. The concepts ...more
Paul Bard
Feb 11, 2014 rated it it was amazing
"The Economic Way of Thinking" is THE best piece of economic writing. In five pages Heyne gives a WHOLE SEMESTER of knowledge. The language is transparent like no other economist's has ever been.

Theologian and economist Paul Heyne selects five concepts as doorways into economics: economizing actions, marginal decisions, opportunity costs, interactions between economizers, and markets and prices.

The essay and other words by the author are available at the Online Library of Liberty: oll.libertyfun
...more
John
Jul 06, 2013 rated it it was amazing
Shelves: economics
I always used to want to write my ideal economics textbook. Then I read this book and realised that Heyne, Boettke, and Prychitko had already written it. Clear enough in its exposition to be accessible to the general reader whose interest in economics might have been piqued by something like Freakonomics, and heterogeneous enough in its outlook to interest and challenge a well read but orthodox economist, this is one of the best books on the subject I've ever read.
Eugene
Apr 10, 2013 rated it really liked it  ·  review of another edition
Shelves: economy
Эта книга познакомила меня с экономикой, как с наукой о процессах, происходящих в обществе. Она убедительно рассказывает о том, что само собой сложившиеся вещи складываются по определённым законам. А осознание этих законов позволяют предсказывать будущее. Давно прочитал страниц двести и отложил, а недавно понял, что теперь про экономику мне надо читать уже другие книги: либо более свежие, либо классические труды.
Yilin Wong
Just read the review and realized that this is a textbook =_=||
But it's very interesting book to read even just for recreational purposes. Although I'll highly recommend to take some notes while reading.
Trent Rock
Oct 12, 2009 rated it really liked it
This a pretty good book for a general overview of economics..The author has a witty style and uses great real life examples....If you read it cover to cover I think you should have a pretty good grasp of the dismal science...
Tina
Sep 28, 2013 rated it it was ok  ·  review of another edition
Shelves: non-fiction
ტვინის ჭმა :v
Tista Kundu
Jul 04, 2012 marked it as to-read  ·  review of another edition
Shelves: rhetorics
Yet to read this book
Zachary Holter
Apr 29, 2015 rated it really liked it
Good for learning basic Economics
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Paul T. Heyne was a professor in economics at the University of Washington, Seattle, United States.

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