The Undercover Economist
Author: Tim Harford
Synopsis by Takrim Hossain
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The Undercover Economist’ is a best-selling book written by English economist and long time Financial Times columnist Tim Harford. Published in 2005 by ‘Little, Brown’ , it has sold over a million copies worldwide as of today. Very beautifully written and argued, the book is widely considered as one of the best for understanding the daunting jargons and terminologies of Economics.
The book provides an introduction to the principles of economics and discusses topics such as price determination, interaction between supply and demand, globalization, externalities and comparative advantage. It also covers topics of neoclassical economics such as market failure and international trade. But what makes this book so special is Tim’s ability to make the readers understand complex ideas very easily. The author is successful in illuminating intricate topics in clear and entertaining English.
This book can give an excellent introduction as to why and how economists actually see the world very differently from us. Tim Hartford uses wit to make the readers understand the detailed ideas of economics with everyday examples. By the time you finish this book, you’ll be able to answer how Starbucks price their products, why it is so hard to buy a decent used car and why poor countries remain poor.
‘The Undercover Economist‘ is a delightful read that educates the readers as well as entertains. It brings the power of economics to life. No prior knowledge of any relevant field is required to read this book. If someone is interested in economics and doesn’t know where to start, this book can serve as a very lively and witty introduction to the supposedly ‘dismal science’.
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