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Economics is an introductory textbook by American economists Paul Samuelson and William Nordhaus.It was first published in 1948, and has appeared in nineteen different editions, the most recent in 2009. It was the best selling economics textbook for many decades and still remains popular, selling over 300,000 copies of each edition from 1961 through 1976.
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Published July 27th 2004 by Irwin/McGraw-Hill (first published 1948)
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Sep 02, 2014
Roy Lotz rated it
really liked it · review of another edition
Shelves: introductions-and-textbooks, education, dismal-science
Wishful thinking is bad thinking and leads to little wish fulfillment.
I’ve long cherished the secret dream of becoming some sort of modern Renaissance man. My mind would rove over every academic subject, thereby giving me a complete picture of the current state of knowledge in every domain. How to do this? I could think of only one obvious way: to read textbooks in every discipline. But over time, my enthusiasm for this project cooled; and that is mainly because I realized it was impossible. T...moreApr 07, 2013
Annelise Lestrange rated it
liked it Shelves: reviewed, informative, study, non-fiction
This book always makes me believe I'm an economist. I love it.
Jun 06, 2010
Catarina added it
Shelves: school-and-uni, not-quite-literature, before-2009
A couple years ago I started reading this book. Soon I realized it wasn't a read it and get over with it book. For me it's a reference book. Sometimes I read the sections related to what I'm studying at the moment or something I'm interested in having more knowledge.
I'm going to start taking a degree in Economics in October and I believe it'll be of even more use then.
Nov 06, 2018Javohir Mominov rated it it was amazing
Dec 20, 2009Snehal Bhagat rated it really liked it · review of another edition
If ever there was a textbook and page-turner rolled in one, this is it. That this was a labor of love is readily apparent to anyone who has had opportunity to study it; in the version I used, Bob Dylan was quoted:
'Come senators, congressmen/Please heed the call...For the times they are a-changin'.'
Indeed they are, and if the G in Y = C + I + G + X has stepped up virtually everywhere of late, it is in no small measure due to this book.
Samuelson died this week; his influence will doubtless live...more
Hm, Doing my Homework in Economics, Instead of Going to the library, Ill just read it here..
It gave me a comprehensive picture about the economics system.
It is a very good start to study economics.
Maybe it's because I'm not a economic major, Economics seems to be either lack of depth or always talking about the same concept over and over again. There are some ideas explained amazingly well, like why monopoly leads to social resources distributed inefficiently. However, the author prefers to explain concepts qualitatively rather than mathematically. For example, to explain why price is higher than marginal cost in the case of monopoly, even Wikipedia has a better mathematical explanation (...more
Jan 01, 2018Bootaan Bootaan rated it really liked it
Nice book
Sep 07, 2017Rhythima rated it liked it
How can one know Adam Smith economics and the (brutal) capitalism without this?
Course oriented. Not very insightful to say but gives all the knowledge of basic concepts.
I love you, Paul Samuelson, even though you're wrong ;-)
The perfect textbook to the introduction of Economics
Nov 18, 2010DoctorM rated it really liked it
Economics Samuelson And Nordhaus Pdf Free
This was the textbook I had in Econ 101--- but who didn't? It was the classic, standard text out there for a generation or two. The old 'Official Preppy Handbook' even listed it was one of the books post-college preppies always seem to have on their shelves. It's only been in the last year or so that I've realised--- going back to re-read economics after the global economic meltdown ---how well-written and clearly-reasoned Samuelson is. Consensus neo-Keynesian, yes. If you're a Marxist or a Frie...more
Mar 13, 2015Bhakta Kishor rated it liked it
Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resourc...more
Jan 06, 2016Qasim Zafar rated it really liked it · review of another edition
As someone who favors the Austrian school of economics, this book was a storehouse of information on the sort of opinions... It was fun going through this book and seeing the technical aspects of the arguments of the 'other side.' If I was to rate this as an economic text, then I would give it a much lower rating.
Jun 27, 2009
Jey rated it
liked it Shelves: read-summer-of-2009, read-in-2009
When I first started reading Economics, I didn't want to like it. After all, it is a text book. However, once I got further into it, I found the writing reasonably enjoyable, the style simple yet direct, and the content thorough.
My favorite part of the book was in Chapter 26. The author spent some time describing pricing systems in a way that it was very understandable and non-biased.
Jan 30, 2013Fouad Jaber rated it really liked it
starting my first year as an aspiring economist i was shocked by the apathy of teachers and students in Arabian colleges, so i decided to pursue it on my own. this book took some time but proved essential for grasping the basics of modern economics. definitely a gospel for economy students everywhere.
I was looking for a revision of economics concepts and reached out to one of the most respected texts on the subject ever written. Professors Samuelson and Nordhaus wrote a book that is still very enjoyable and understandable. I guess some people may have gone for a more recent text, but I think the book is still a very relevant overview of the subject.
It is no wonder that this book has been reprinted over and over (of course with improvement and update on data). It is quite comprehensive on both micro and macro parts, along with Samuelson's own input of thoughts and clever comments
Jan 14, 2014Kyrsten ^.^ rated it liked it
This is our book for eco. studies in MA course. The writing style is good and the examples are clear. Easy to learn but there is too much extra information so you have to fish out the important staff.
Along with my professor, Winnie Monsod, I survived Economics through Samuelson. Thorough and very detailed.
By far, this is one of the best economics textbooks i ever came across.
Great resource for any research or reading..
Oct 08, 2012Reem rated it liked it · review of another edition
I actually liked this book !
easy and sufficient as an introduction to Economics
Jun 09, 2013Naman Vijay rated it it was amazing · review of another edition
awesome book. it has so many basics regarding economics and presents them in such an interesting manner. learnt a lot of stuff through this book
6th edition, no better introduction to economic reasoning, no better place to study it than Wharton. I have been applying the principles ever since.
Economics as it really is in the modern, mixed economy world.
Apr 02, 2015Mission added it · review of another edition
uppose the price of a coommodity was Tk .03 and at the quantity demand was 3250 units but when price increase to Tk .05 demand decreased to 1250 units .What will be the value of elasticity
Mar 28, 2010Fran rated it it was amazing · review of another edition
Note to self: Main text for Econ 11: Introductory Economics under Prof. Maria Socorro Gochoco-Bautista (Columbia) of the UP School of Economics, First Semester 1995-96
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Economics By Samuelson
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Economics | Author | Paul Samuelson |
|---|
| Language | English |
|---|
| Subject | Economics |
|---|
| 1948 |
Economics is an introductory textbook by American economists Paul Samuelson and William Nordhaus. It was first published in 1948, and has appeared in nineteen different editions, the most recent in 2009.[1] It was the best selling economics textbook for many decades and still remains popular, selling over 300,000 copies of each edition from 1961 through 1976.[2] The book has been translated into forty-one languages and in total has sold over four million copies.
Economics was written entirely by Samuelson until the 1985 twelfth edition. Newer editions have been revised by Nordhaus.
Influence[edit]
Economics has been called a 'canonical textbook', and the development of mainstream economic thought has been traced by comparing the fourteen editions under Samuelson's editing.[3]
Economics coined the term 'neoclassical synthesis' and popularized the concept,[4] bringing a mix of neoclassical economics and Keynesian economics and helping make this the leading school in mainstream economics in the United States and globally in the second half of the 20th century.
It popularized the term paradox of thrift, and attributed the concept to Keynes, though Keynes himself attributed it to earlier authors, and forms of the concept date to antiquity.
The 1958 text introduced a 'family tree of economics', which by the 20th century consisted of only two groupings, 'socialism,' listing Marx and Lenin, and the 'neo-classical synthesis,' listing Marshall and Keynes. This paralleled the then-extant Cold War economies of Soviet communism and American capitalism. This advanced a simplified view of the vying schools of economic thought, subsuming schools which considered themselves distinct, and today many within and without economics equate 'economics' with 'neo-classical economics', following Samuelson.Later editions provided expanded coverage of other schools, such as the Austrian school, Institutionalism, and Marxian economics.[2]
Reception[edit]
Economics was the second Keynesian textbook in the United States, following the 1947 The Elements of Economics, by Lorie Tarshis. Like Tarshis's work, Economics was attacked by American conservatives (as part of the Second Red Scare, or McCarthyism), universities that adopted it were subject to 'conservative business pressuring', and Samuelson was accused of Communism. Nonetheless, Economics proved successful and remained widely adopted. The success of Samuelson's text, compared with Tarshis's, which was subject to more 'virulen[t]' attacks, is attributed to various factors, notably Samuelson's dispassionate, scientific style, in contrast to Tarshis's more engaged style, and subsequent texts have followed Samuelson's style.[5] Accusations by conservatives of communist sympathies in Economics continued into the 1980s.[6]
See also[edit]
- Principles of Economics, a similarly influential earlier textbook
Notes[edit]
- ^Amazon's page on the book
- ^ abSkousen, Mark (1997), 'The Perseverance of Paul Samuelson's Economics', Journal of Economic Perspectives, 11 (2): 137–152, doi:10.1257/jep.11.2.137
- ^Pearce, Kerry A.; Hoover, Kevin D. (1995), 'After the Revolution: Paul Samuelson and the Textbook Keynesian Model', History of Political Economy, 27 (Supplement): 183–216, CiteSeerX10.1.1.320.9098, doi:10.1215/00182702-27-supplement-183
- ^Blanchard, Olivier Jean (2008), 'neoclassical synthesis,' The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
- ^Colander & Landreth (1998), p. 11–13, especially p. 12, footnote 33
- ^Bethell, Tom (1989-10-13), 'Socialism by the Textbook', National Review
References[edit]
- Colander, David; Landreth, Harry (1998). 'Political Influence on the Textbook Keynesian Revolution: God, Man, and Laurie Tarshis at Yale'(PDF). In Hamouda, O.F.; Price, B.B. (eds.). Keynesianism and the Keynesian Revolution in America: A Memorial Volume in Honour of Lorie Tarshis. Cheltenham: Edward Elgar. pp. 59–72.
- Samuelson, Paul Anthony (1948). Economics, an Introductory Analysis. McGraw-Hill.
- Samuelson, Paul A.; Nordhaus, William D (2004). Economics. McGraw-Hill. ISBN978-0-07-287205-7.
- Samuelson, Paul A.; McGraw, Jr., Harold W.; Nordhaus, William D.; Ashenfelter, Orley; Solow, Robert M.; Fischer, Stanley (1999). 'Samuelson's Economics at Fifty: Remarks on the Occasion of the Anniversary of Publication'. Journal of Economic Education. 30 (4): 352–363. JSTOR1182949.
External links[edit]
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