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Principles of Macroeconomics
Principles of Macroeconomics covers the scope and sequence requirements of most introductory macroeconomics courses. The text also includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to both Keynesian and classical views, and to the theory and application of economics concepts.
607 pages, Kindle Edition
Published October 11, 2017
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Displaying 1 - 12 of 12 reviews
April 24, 2021
I hoped this book could refresh my economics in preparation for university, I was mistaken.
The book states homelessness [in the west] is an example of how resources are simply limited, that isn’t true, there are more vacant houses than homeless people.
Contrary to the information in this book Adam Smith didn’t come up with the idea of the division of labour, he took it from William Petty. The pin example was actually from Monceau. Smith also wasn’t the first to systematically explore economics, Petty is again frequently named (by Marx and Keynes for example) as the first to do so, Schumpeter names Richard Cantillon, who was cited in Smith’s “Wealth of Nations�.
Section 1.4 is about different economic systems, it is horribly oversimplified. The entirety of world historical economic organisation is reduced to 3 categories: command economy, market economy and “traditional economy�. Of course the description of this “traditional� system is that is built around the “tradition� of modern the post-industrial revolution family and social structure, how “traditional�! Of course just 5 pages later it is redefined, now it means: “typically an agricultural economy where things are done the same as they have always been done� These people truly love inconsistency.
Finally we reach the part that is actually about economic theory, rather than a butchered attempt at history and political philosophy. After trying to explain the difference between demand and quantity demanded the following comment is made: “Confused about these different types of demand?�. Quantity demanded is not just another kind of demand, it is a separate concept.
It then moves on to describe how markets work, then repeats this explanation, then again, then, wait for it, again! This includes an “explanation� of the workings of labour markets, which contradicts the actual research in that area.
Poor explanations combined with comments like the ones about “traditional� economies and different kinds of demand make this a subpar economics textbook. There are better alternatives available for free online so there is no reason to read this.
The book states homelessness [in the west] is an example of how resources are simply limited, that isn’t true, there are more vacant houses than homeless people.
Contrary to the information in this book Adam Smith didn’t come up with the idea of the division of labour, he took it from William Petty. The pin example was actually from Monceau. Smith also wasn’t the first to systematically explore economics, Petty is again frequently named (by Marx and Keynes for example) as the first to do so, Schumpeter names Richard Cantillon, who was cited in Smith’s “Wealth of Nations�.
Section 1.4 is about different economic systems, it is horribly oversimplified. The entirety of world historical economic organisation is reduced to 3 categories: command economy, market economy and “traditional economy�. Of course the description of this “traditional� system is that is built around the “tradition� of modern the post-industrial revolution family and social structure, how “traditional�! Of course just 5 pages later it is redefined, now it means: “typically an agricultural economy where things are done the same as they have always been done� These people truly love inconsistency.
Finally we reach the part that is actually about economic theory, rather than a butchered attempt at history and political philosophy. After trying to explain the difference between demand and quantity demanded the following comment is made: “Confused about these different types of demand?�. Quantity demanded is not just another kind of demand, it is a separate concept.
It then moves on to describe how markets work, then repeats this explanation, then again, then, wait for it, again! This includes an “explanation� of the workings of labour markets, which contradicts the actual research in that area.
Poor explanations combined with comments like the ones about “traditional� economies and different kinds of demand make this a subpar economics textbook. There are better alternatives available for free online so there is no reason to read this.
February 23, 2024
I have over 200 highlights pertaining to my ECON class. This next week is it then finals time!!! Learned a lot but also school readings 🥱
May 9, 2022
honestly, a decent textbook tbh.
May 21, 2021
I have learned
1). That we made up the economy kinda actually
2). That a lot of those ~socialist~ economic policies that people feel really strongly about are surprisingly practical? Like a business co-op, increasing taxes and redistributing wealth a little bit, more public housing, etc. can, timed properly, really be good for the economy, as well as, yanno, people in need.
3). Some other kinda boring stuff about how exchange rates and inflation and price floors/ceilings and Keynesian and Neoclassical economics, so that’s fun!
Anyways, as far as textbooks go this is super readable and easily comprehensible, so that’s good! You could teach yourself the content without needing to go to classes/lectures about it as well, which I think makes for a pretty swell textbook 😌
1). That we made up the economy kinda actually
2). That a lot of those ~socialist~ economic policies that people feel really strongly about are surprisingly practical? Like a business co-op, increasing taxes and redistributing wealth a little bit, more public housing, etc. can, timed properly, really be good for the economy, as well as, yanno, people in need.
3). Some other kinda boring stuff about how exchange rates and inflation and price floors/ceilings and Keynesian and Neoclassical economics, so that’s fun!
Anyways, as far as textbooks go this is super readable and easily comprehensible, so that’s good! You could teach yourself the content without needing to go to classes/lectures about it as well, which I think makes for a pretty swell textbook 😌
August 14, 2024
Timothy Taylor's Principles of Macroeconomics is an excellent resource for anyone looking to grasp the fundamentals of macroeconomic theory. Written in a clear and engaging style, Taylor breaks down complex concepts into digestible pieces, making them accessible to students and casual readers. The Kindle edition is particularly convenient for studying, allowing easy highlighting and note-taking.
While primarily an academic text, this book can surprisingly serve as a source of inspiration for writing a fantasy novel. The intricacies of economic systems, the rise and fall of empires, and the impact of trade and currency on societies can all be creatively adapted into a fantasy setting. Taylor's detailed explanations of how economies function can help an author build a believable and intricate world where the flow of resources, the power of markets, and the influence of policy decisions play a central role in the storyline.
Overall, *Principles of Macroeconomics* is a valuable study tool for students and a unique guide for writers looking to incorporate economic realism into their fantasy worlds, adding depth and authenticity to their narratives.
While primarily an academic text, this book can surprisingly serve as a source of inspiration for writing a fantasy novel. The intricacies of economic systems, the rise and fall of empires, and the impact of trade and currency on societies can all be creatively adapted into a fantasy setting. Taylor's detailed explanations of how economies function can help an author build a believable and intricate world where the flow of resources, the power of markets, and the influence of policy decisions play a central role in the storyline.
Overall, *Principles of Macroeconomics* is a valuable study tool for students and a unique guide for writers looking to incorporate economic realism into their fantasy worlds, adding depth and authenticity to their narratives.
November 28, 2022
For a free textbook, this was pretty good. I found the explanations generally easy to understand, but if there were more graphics I think it would be easier to understand the concepts that are being attempted to be conveyed. Then again, it’s a free textbook� so with a little more funding I’m sure it would be really solid.
April 21, 2022
A decent read for those who do not have any experience in macroeconomics or monetary policy. Some topics are roughly covered while others have more in-depth explanations. Overall, an appropriate read for those who are novices in economics and are looking to augment a foundation in macroeconomics.
September 26, 2021
A nice and thorough read that introduces elementary concepts of Macroeconomics, including some forms of traditional Monetary Policy.
April 17, 2022
I’ve become a markets geek 🤓
December 25, 2018
It’s an okay enough macroeconomics textbook. Free makes it great. However, the editing job is atrocious. Many typos and incorrect statements, incomplete sentences, etc. You can also easily tell this book was written over several years and the editing for the second edition did not update everything - in some parts, the book asks what’ll happen in Obama’s final years, others ask what Trump will do once he takes over, and others still already point at things he did in his first year.
April 17, 2020
Not that good, but Zero Cost - I miss color printing
April 16, 2023
An excellent and thorough introduction to economics, even if you've never studied it before.
Displaying 1 - 12 of 12 reviews
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