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45 of 46 people found the following review helpful:
5.0 out of 5 stars
Lucid up-to-date introduction, May 22, 2010
This review is from: Essentials of Economics (Paperback)
Krugman, who is popularly known for his recent New York Times op-eds castigating both Bush and Obama, which are collected in several books of his, The Return of Depression Economics and the Crisis of 2008, Peddling Prosperity: Economic Sense and Nonsense in an Age of Diminished Expectations, The Conscience of a Liberal is a Nobel Prize-winning economist, noted for his work in international trade. His colleagues claim that his structural intuitions and proofs are beautiful. Krugman says that he worked harder on this book than any other book that he wrote, making last-minute corrections and additions during his trip to receive the Nobel Prize. He made an effort to make every definition and explanation as lucid as possible. A valuable feature of this book is that he and his partner/ co-author decided to include a section on the business cycle, while most other books available (prior to the recent credit crunch) eliminated discussion of the business cycle, thinking it to be eliminated by clever government fine-tuning of the economy. Once the book appeared, in the midst of the credit-collapse, this section became extremely relevant. This is the most lucid and up-to-date introductory economics text presently available.
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3 of 4 people found the following review helpful:
5.0 out of 5 stars
Interesting Material Presented in a Compelling Way, September 23, 2011
This review is from: Essentials of Economics (Paperback)
I used this book for a graduate level economics basics class. This author really knows what he is doing. This book is loaded with information and presented in a compelling and understandable way. I love this book.
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5.0 out of 5 stars
A good introductory economics textbook, February 11, 2012
This review is from: Essentials of Economics (Paperback)
There ain't no way of getting around this: it's an introductory economics textbook. This means the language is more simplistic than a scholarly work and the coverage of topics is less dense. Malthus, for instance, only gets a small text box, and there is no mention of the neo-Malthusians. It contains all the standard topics of an introductory economics textbook (argh, even the dreaded Supply and Demand model). Those expecting (or dreading) a long rant on Keynes will be disappointed, he's mentioned only three times in the entire book, a total of about six sentences. Malthus gets more ink than Keynes does. I enjoyed my time with this book. Though simple and easy to follow, the text goes into greater detail and handles more topics than I expected from my long-ago Econ 101 class. I had never heard of Deadweight Loss before; nor had I ever encountered a basic discussion of oligopolies and monopolies. There's even a chapter on the Federal Reserve system. I'll admit I slept through some of my Econ 101 lectures, but I didn't sleep through THAT many lectures. If your exposure to economics occurred about fifteen or twenty years ago, you'll be deeply surprised at the things you never heard of before. Jobless recoveries get a brief mention, and the book even dips a toe into economic aggregates and macroeconomic theory. I highly recommend this for college classes on the subject or for self-study. However....it's an economics textbook, not for casual reading.
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