The Economic Way of Thinking, 12th Edition [Paperback]

Paul Heyne (Author), Peter J. Boettke (Author), David L. Prychitko (Author)

Book Description

Publication Date: January 17, 2009 | ISBN-10: 0136039855 | ISBN-13: 978-0136039853 | Edition: 12

Accomplish more with less, learn The Economic Way of Thinking.

KEY TOPICS:The Economic Way of Thinking;  Efficiency, Exchange and Comparative Advantage; Substitutes Everywhere: The Concept of Demand; Cost and Choice: The Concept of Supply; Supply and Demand: A Process of Coordination; Unintended Consequences: More Applications of Supply and Demand; Profit and Loss; Price Searching; Competition and Government Policy; Externalities and Conflicting Rights; Markets and Government; Measuring the Overall Performance of Economic Systems; The Wealth of Nations: Globalization and Economic Growth; Money; Economic Performance and Real-World Politics; The Limitations of Economics

MARKET: This text goes beyond explaining the basic principles of micro- and macroeconomic analysis by showing readers how to apply these principles as tools. The authors expose a method of reasoning that encourages readers to think like an economist through example and application. They also show readers how not to think, by exposing errors in popular economic reasoning.

Editorial Reviews

From the Publisher

Noted for its clear and informative style, this acclaimed text provides an in-depth discussion of a limited, but crucial set of economic principles and concepts, then applies these tools of analysis to a wide variety of familiar situations. Heyne presents conceptually demanding material in a lively, often witty fashion that is both accessible and pertinent for beginning students. The goal of this text is to help students think by developing the key insights into economic theory and applying these insights to numerous real-world examples. --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

Key Benefit: Noted for its clear and informative style, this acclaimed book provides an in-depth discussion of a limited, but crucial set of economic principles and concepts, then applies these tools of analysis to a wide variety of familiar situations. Key Topics: Heyne presents conceptually demanding material in a lively, often witty fashion that is both accessible and pertinent for beginning students. The goal of this text is to help students think by developing the key insights into economic theory and applying these insights to numerous real-world examples. --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Paperback: 456 pages
• Publisher: Prentice Hall; 12 edition (January 17, 2009)
• Language: English
• ISBN-10: 0136039855
• ISBN-13: 978-0136039853
• Product Dimensions: 7.5 x 0.6 x 9.1 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars  See all reviews (8 customer reviews)
• Amazon Best Sellers Rank: #139,774 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

7 of 7 people found the following review helpful

5.0 out of 5 stars The best book about economics ever written July 7, 2009

By A Reader

Format:Paperback

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!

2 of 2 people found the following review helpful

2.0 out of 5 stars It's alright... May 15, 2012

By LunaMyst

Format:Paperback

Overall, I think it's alright but trying to understand the concepts can be hard. It would be nice if they would at least bold AND define key terms instead of italicizing and trying to explain it in so many words without a formal definition.

I'm using this book for my ECON 100 online class and it's an absolute frustration when I can't rely on the textbook for a definition or decent glossary for terms that should be defined. I've had to ask others or my professor (and sometimes that can be time consuming since it's an online class) for concepts or definitions.

2 of 2 people found the following review helpful

5.0 out of 5 stars Outstanding! July 29, 2010

By Reformatio

Format:Paperback

This textbook is outstanding. I use it for my "Managerial Econ" class and its unique approach to explaining economic concepts is second to none. This is one of the few textbooks that actually "connects" with students and it is also one of the very few economics textbooks that is not saturated with political propaganda.
Outstanding!