Open Preview See a Problem? Thanks for telling us about the problem. Return to Book Page. Preview — Economics by Partha Dasgupta. A Very Short Introduction 3. Here Partha Dasgupta, an internationally recognized authority in economics, presents readers with a solid introduction to its basic concepts, including efficiency, equity, sustainability, dynamic equilibrium, property rights, markets, and public goods.
Throughout, he highlights the relevance of economics to everyday life, providing a very human exploration of a technical s Here Partha Dasgupta, an internationally recognized authority in economics, presents readers with a solid introduction to its basic concepts, including efficiency, equity, sustainability, dynamic equilibrium, property rights, markets, and public goods. Throughout, he highlights the relevance of economics to everyday life, providing a very human exploration of a technical subject. Dasgupta covers enduring issues such as population growth, the environment, and poverty.enter
Economics: A Very Short Introduction
For example, he explores how the world's looming population problems affect us at the local, national, and international level. Economics has the capacity to offer us deep insights into some of the most formidable problems of life. Here, Dasgupta goes beyond the basics to show it's innate effects on our history, culture, and lifestyles. Combining authority with wit, accessibility, and style, Very Short Introductions offer an introduction to some of life's most interesting topics. Written by experts for the newcomer, they demonstrate the finest contemporary thinking about the central problems and issues in hundreds of key topics, from philosophy to Freud, quantum theory to Islam.
Paperback , pages. Very Short Introductions To see what your friends thought of this book, please sign up. To ask other readers questions about Economics , please sign up. Lists with This Book. View all 15 comments. Jun 25, Yasiru reviews will soon be removed and linked to blog rated it it was amazing. I must confess that I have trouble seeing where the objections in some of the other reviews come from.
This is most definitely a balanced account though in being so it takes care to investigate the economic concerns of an often ignored, but certainly not insignificant segment of the population, leading naturally to the idea of sustainable development , never mind the 'woe is me, I'm being manipulated by the author's agenda ' crowd, and is one of the best introductions to economics you can find.
D I must confess that I have trouble seeing where the objections in some of the other reviews come from. Dasgupta covers the subject broadly, as is appropriate for a short monograph of this sort, with the narrative held together by contrasting the circumstances of two similar imaginary girls on opposite ends of the world's economic landscape. Central arguments are nicely illustrated and reinforced and because of this the difficulty level brought up by other reviewers isn't something to be put off by at most you'll have to flip back a few pages for a definition or take a moment to work through an argument in your head.
Going from the machinery to the applications and back again to refine what he's set up obviously makes a great deal of sense and gives Dasgupta more mileage to handle the social issues he delves into, particularly in the last two chapters since, after all, economics is a social science that requires models to align with an informed view of human affairs. This contrasts with the preoccupation with particulars common to other primers for the lay person, but ultimately allows the reader much more confidence, ease and most importantly insight as the account progresses. I now have a better appreciation for my textbook Economics For Business thanks to these.
May 29, Riku Sayuj rated it it was ok Shelves: The concept really fascinates me. Dasgupta falls woefully short. Will read more VSIs for sadistic pleasure. View all 3 comments. Nov 09, Robin Friedman rated it it was amazing.
The Very Short Introductions series of Oxford University Press provides succinct introductions to more subjects than a person can reasonably hope to know. Parath Dasgupta offers a brief, pointed look at Economics in this volume in the series. Dasgupta was knighted by Queen Elizabeth II for his work in economics and has written many important books and studies.
Dasgupta's book is not written "for dummies" and it does not present its subject in the manner of an introductory textbook. Instead, Dasgupta offers the lay reader an example of how economists define problems and issues and try to solve them. In other words, the book offers the reader an example of how to "think like an economist". This gives the book a dense character. Dasgupta develops his own way of approaching and his position of questions of economics, neither of which might be fully shared by all members of his profession.
At the outset, Dasgupta makes two broad worth noting. First, he ties in economics with politics and, especially with ethics. Unlike some scientists who might try to minimize ethical, philosophical questions, Dasgupta is quite clear that ethical commitments are a driving force behind economics and politics. The second point involves Dasgupta's approach to economic questions.
He rejects a historical, "narrative" approach because of the difficulty of supporting one proposed "narrative" over another. Dasgupta's approach is heavily analytical and quantitative, relying on mathematical modeling, statistics, and game theory. He tries to identify and weigh the factors involved in economic growth. The material is daunting, but Dasgupta presents it well, if briefly. He enlivens his account by telling a story. Dasgupta introduces the reader to two fictitious girls, , Becky, 10, who lives with her parents in the American Midwest and Desta, 10, who lives with her family in a village in tropical southwest Ethiopia.
Becky's father is a successful attorney in a law firm while Desta's father is a subsistence farmer on a small plot. The family is heavily involved in the farming.
Economics - Very Short Introductions
Becky's family is prosperous, and she has dreams of excelling in school and becoming a doctor. Desta lives at subsistence level. She knows she will marry at a young age at the behest of her parents and be expected to continue in essentially the same harsh life in which she was raised. Dasgupta tries to show why the circumstances in which Becky and Desta find themselves differ so markedly.
The discipline also tries to identify ways to influence these processes so as to improve the prospects of those who are hugely constrained in what they can be and do. The former activity involves finding explanations, while the latter tries to identify policy prescriptions. Economists also make forecasts of what the conditions of economic life are going to be; but if the predictions are to be taken seriously, they have to be built on an understanding of the processes that shape people's lives; which is why the attempt to explain takes precedence over forecasting. He begins with the concept of "trust" in economic activities between people which he develops using game theory modeling.
In subsequent chapters, he considers communities, markets and households, trying to develop and explain factors common to both the United States and the Ethiopian village. He presents an important chapter on science and technology and on the institutional structures which allow their development. The book becomes broader in scope and probably more controversial in the latter chapters as Dasgupta describes hidden environmental costs, human capital, and natural resources such as air, water, and the ocean fishery in ways that the author claims are not usually followed by other economists.
He discusses inequities in the distribution of wealth between the two countries he considers in addition to growing disparities between rich and poor in the United States and other developed nations. He also tries to tie economics in to politics and to the structure of government, based on the virtues of democracy and majority rule. The book shows an economist thinking and practicing his discipline in a way a lay reader can, with effort, understand rather than offering an overview.
The book helped me understand how an economist works. Dasgupta helped me see different ways of thinking about important matters, which is a worthwhile accomplishment and the goal of a "very short introduction". Sep 18, We are prone to herding: This Very Short Introduction explores the reasons why we make irrational decisions; how we decide quickly; why we make mistakes in risky situations; our tendency to procrastination; and how we are affected by social influences, personality, mood and emotions.
The implications of understanding the rationale for our own financial behavior are huge. Behavioral economics could help policy-makers to understand the people behind their policies, enabling them to design more effective policies, while at the same time we could find ourselves assaulted by increasingly savvy marketing.
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Michelle Baddeley concludes by looking forward, to see what the future of behavioral economics holds for us. The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable. Motivation and incentives 3. Personality and emotions 8. Publications Pages Publications Pages.
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Propelled by technological advances in financial analysis and A Very Short Introduction explores the world of banking, describing the role of central banks in national and global economies, and analysing the increasing supervision and regulation imposed on the banking industry in light of the recent global financial crisis. Looking to the future, it considers proposals for reform of the banking industry, and the prospects of a resolution of the closely-related banking and sovereign debt crises.
Jan Published Online: A Very Short Introduction introduces the field of behavioural economics, analysing the motivations behind economic decisions and showing the relevance of A Very Short Introduction introduces the field of behavioural economics, analysing the motivations behind economic decisions and showing the relevance of behavioural economics to our own lives and everyday economic and financial problems. It explores the reasons why we make irrational decisions; how we decide quickly; why we make mistakes in risky situations; our tendency to procrastination and short-termism; and how we are affected by social influences, personality, mood, and emotions.