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in Minutes
Economics in Minutes
Economics in Minutes condenses key economics concepts into 200 short and easily digested essays. Featuring not only fundamental ideas, such as the role of money and how the stock market works, but also subjects that are increasingly important to us today - unemployment, government debt and corporate tax avoidance, for example. Economics in Minutes is the ideal introduction to a complex and vital subject.
Key topics are succinctly described and accompanied by illustrations, making them simple to read and easy to remember. This convenient little reference guide will allow readers to understand the theories underpinning a subject that affects our lives on a daily basis.
Chapters Supply and demand, globalization, market failure, GDP and happiness, risk and uncertainty, living standards and productivity, Game theory, economics and culture.
Key topics are succinctly described and accompanied by illustrations, making them simple to read and easy to remember. This convenient little reference guide will allow readers to understand the theories underpinning a subject that affects our lives on a daily basis.
Chapters Supply and demand, globalization, market failure, GDP and happiness, risk and uncertainty, living standards and productivity, Game theory, economics and culture.
416 pages, Paperback
First published January 2, 2014
92 people are currently reading
529 people want to read
About the author
Niall Kishtainy
14 books167 followersI'm a writer, economist and historian. I believe that the history of economic thinking and of real economic struggles can tell us a lot about our current situation and, for me, it’s in vivid writing that anyone can respond to where all this really comes to life. Most of all, I’m interested in the stories we tell ourselves about our economic world, and why they matter. My latest book, A Little History of Economics, is published by Yale University Press on March 7.
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Displaying 1 - 23 of 23 reviews
April 13, 2018
So, I bought Economics in Minutes back in high school when I was actually studying economics. Admittedly, I didn't use it much (or at all) but I'm glad I hung onto for it uni. Though I'm not explicitly studying economics, it is closely related to what I do study and this handy lil book has proved itself very useful at giving quick and easily understood summaries of key concepts.
That said, I wouldn't recommend this to anyone new to economics or anyone very explicitly involved in it, but for others like me, who need a solid, if not deep, understanding, it's great.
That said, I wouldn't recommend this to anyone new to economics or anyone very explicitly involved in it, but for others like me, who need a solid, if not deep, understanding, it's great.
April 8, 2019
I'm kinda desperate for an introduction to Economics. I've never had a course in it, and the more I process what I learn peripherally and through newspapers, life experience etc., the less it makes sense. After being totally frustrated by Philosophy in Minutes I do not have high hopes for this, though. Do any of you have a better suggestion? Maybe something like a book version of an introductory Great Course? (I think I'm talking about Macro, not Micro, btw.)
.......
Ack. Bad... not just for me, but poorly written. Most of what was here I did actually know, and hope that almost all adults do. The ones I didn't already know, I didn't understand from these entries. Really, just searching online whenever you encounter a new term is your best bet.
For example, the entry here on 'Arrow's Impossibility theorem' makes no sense and bears almost no resemblance to any of the explanations I found when I simply googled the term. And when the author linked "the law of diminishing returns' to the folk saying "too many cooks spoil the broth" I almost closed the book. However, I kept turning the pages, reading lightly... and finally was rewarded with one bit of useful information:
'Fair trade' protects the farmer. The farmer probably isn't the person who really needs protection so much as the laborer s/he hires, though.
.......
Still looking for a good intro. to economics. Maybe. Atm my brain is a bit fried.
.......
Ack. Bad... not just for me, but poorly written. Most of what was here I did actually know, and hope that almost all adults do. The ones I didn't already know, I didn't understand from these entries. Really, just searching online whenever you encounter a new term is your best bet.
For example, the entry here on 'Arrow's Impossibility theorem' makes no sense and bears almost no resemblance to any of the explanations I found when I simply googled the term. And when the author linked "the law of diminishing returns' to the folk saying "too many cooks spoil the broth" I almost closed the book. However, I kept turning the pages, reading lightly... and finally was rewarded with one bit of useful information:
'Fair trade' protects the farmer. The farmer probably isn't the person who really needs protection so much as the laborer s/he hires, though.
.......
Still looking for a good intro. to economics. Maybe. Atm my brain is a bit fried.
November 8, 2018
The writer shown amazing understanding of economics and this book would be present for many who getting to know economics, which is incredibly rising in our world.
January 5, 2024
Engel’s Law.
• The proportion that people pay on food rarely differs resulting in food being a smaller % of costs for high income households, hence why low-income households get hit disproportionally by rising food prices.
Pareto Efficiency.
• The exchange of goods that leaves both sides better off.
Free Riding.
• Markets being unable to supply public goods.
Game Theory and Prisoners dilemma.
• Being part of a cartel and agreeing to oil cuts to keep the price of oil high. It is tempting for some countries to exploit these higher prices by producing more oil - which then bring the whole agreement falling down.
Capital Asset Pricing Model (CAPM).
• Broadly speaking CAPM states that the expected return on an asset is related to the expected return of the stock market as the whole.
The Yield Curve.
• If yields are low in the short term it means markets thinks interest rates will remain low - and if they are high in the future then interest rates are expected to rise.
Tobin’s Q.
• Total market value of a company/cost of replacing capital stock (assets). When this figure is high it shows that the firms market value is higher than the replacement cost of its assets - so should continue to invest due to favourable market conditions.
Costs.
• If marginal costs are less than marginal revenue then production is profitable. If the other way around then it is unprofitable.
Inequality and growth.
Politicians correctly seek to appeal to the widest number of people. Inequality is where a small minority hold a very high % of assets. Understandably, the majority who have been economically left behind want to see higher taxes on the rich. Taxes however are an inefficient method of creating economic growth but to gain power politicians implement the taxes. Having a country’s resources (capital) in the hands of a minority is quite literally like putting all your eggs in one basket.
Exhaustible resources.
Natural resources that are finite tend to see in the very long-term price decline despite the asset becoming costlier to produce. It is a hint to the direction of the oil price.
• The proportion that people pay on food rarely differs resulting in food being a smaller % of costs for high income households, hence why low-income households get hit disproportionally by rising food prices.
Pareto Efficiency.
• The exchange of goods that leaves both sides better off.
Free Riding.
• Markets being unable to supply public goods.
Game Theory and Prisoners dilemma.
• Being part of a cartel and agreeing to oil cuts to keep the price of oil high. It is tempting for some countries to exploit these higher prices by producing more oil - which then bring the whole agreement falling down.
Capital Asset Pricing Model (CAPM).
• Broadly speaking CAPM states that the expected return on an asset is related to the expected return of the stock market as the whole.
The Yield Curve.
• If yields are low in the short term it means markets thinks interest rates will remain low - and if they are high in the future then interest rates are expected to rise.
Tobin’s Q.
• Total market value of a company/cost of replacing capital stock (assets). When this figure is high it shows that the firms market value is higher than the replacement cost of its assets - so should continue to invest due to favourable market conditions.
Costs.
• If marginal costs are less than marginal revenue then production is profitable. If the other way around then it is unprofitable.
Inequality and growth.
Politicians correctly seek to appeal to the widest number of people. Inequality is where a small minority hold a very high % of assets. Understandably, the majority who have been economically left behind want to see higher taxes on the rich. Taxes however are an inefficient method of creating economic growth but to gain power politicians implement the taxes. Having a country’s resources (capital) in the hands of a minority is quite literally like putting all your eggs in one basket.
Exhaustible resources.
Natural resources that are finite tend to see in the very long-term price decline despite the asset becoming costlier to produce. It is a hint to the direction of the oil price.
February 21, 2016
Lovely comprehensive introductory Economics book. This book got me interested..
August 7, 2022
This book took me well over a year to read, perhaps it was the longest ever for me to complete. I found that that book was comprehensive in explaining the various concepts of economics. It could be very beneficial to those preparing for a business career or an economics major.
I would caution the reader that it is from a British perspective so a few times as an American, I had to re-read the passages to really understand the business context. It took me a while since I was mostly reading it at a part-time job and honestly some of the material was very dry.
I would recommend it only to economics majors or students wanting to learn more about economics.
I would caution the reader that it is from a British perspective so a few times as an American, I had to re-read the passages to really understand the business context. It took me a while since I was mostly reading it at a part-time job and honestly some of the material was very dry.
I would recommend it only to economics majors or students wanting to learn more about economics.
October 21, 2024
This is a great book! I learned snippets of many economic topics. You can read for 5 minutes & learn a bit or you can read for 30 minutes and cover several ideas. I felt like the more controversial topics were presented in a relatively neutral way, at least more neutral than what you usually see. Also, most topics included easy-to-understand examples so the concepts make more sense. This would be a good book to have around & refer to from time to time.
April 30, 2020
Clever little book introducing novices to economics. As someone who knew very little, it definitely taught me concepts I hadn’t heard of and now understand to a basic level. The book obviously doesn’t go into much detail with one or two paragraphs per idea but definitely a cool and easy little introduction to anyone with an interest in economics.
August 8, 2018
This is a good book for those who have no background in economics. It explains around 200 concepts that are very important in economics and how they are applied in the real world. I highly recommend this for anyone who does not come from a business school background.
February 7, 2020
I bought the entire series of these cute , “quick” reference books couple of years ago. Got around to reading this book first now.
It’s pretty good as a high level familiarity of concepts of the subject .
It’s pretty good as a high level familiarity of concepts of the subject .
February 4, 2021
Worth the price, a few typos though
Very good summary of macroeconomic terms in a short, lean-mean book. Would've given it 5 stars if there weren't so many grammatical errors and typos. Does anyone actually proofread these books? Regardless, worth the price for basic level study.
Very good summary of macroeconomic terms in a short, lean-mean book. Would've given it 5 stars if there weren't so many grammatical errors and typos. Does anyone actually proofread these books? Regardless, worth the price for basic level study.
August 10, 2022
I bought this small, square book at Half Price Books during a "visit hobby stores" trip. I read it on the toilet, just one or two economic concepts at a time. I'm sure it doesn't substitute taking an economics course, but it was good to learn and review concepts.
January 27, 2018
كتاب جميل للمبتدئين في علم الإقتصاد, أما بالنسبة للمتخصصين فهو بالكذ يضيف إليك شيئا جديدا.
July 8, 2025
Antik Yunan’dan gelen adıyla “hanenin yönetimi” yani ekonomi genel hatlarıyla herkesin anlayabileceği ölçüde anlatılıyor. Ekonominin nasıl işlediğini ve nasıl yönetilmesi gerektiğini anlatan ve bir çok teoriye yer verilmiş olan kitapta yine bir çok konu şema ve görsellerle daha anlaşılabilir halde yazılmış. Finansal okuryazarlık kazandırmayacak olsa da ekonominin işleyişini anlaşılması için yardımcı olur.
October 10, 2015
Covered extremely briefly 1st (and some 2nd) year university level economics. There are two pages per topic that they cover, a couple of paragraphs on the left-hand page and some kind of quasi-related illustration on the right hand side. Not a bad book if you don't want to get involved in the mathematics and statistics behind economics and just want a broad brush overview of its main tenants.
October 4, 2014
A simple over view of many economic concepts are presented in this book.
I found many of the ideas were explained in a straight forward manner, but occasionally I thought the explanations were poor and there seemed to be too much of the author’s opinion coming through.
I found many of the ideas were explained in a straight forward manner, but occasionally I thought the explanations were poor and there seemed to be too much of the author’s opinion coming through.
January 16, 2022
started and will never finish .
very good reference for economics students in their first year ( زي حالاتي ) .
briefed about principles to have a background before deeper researches and studies , but excellent collective terminologies .
very good reference for economics students in their first year ( زي حالاتي ) .
briefed about principles to have a background before deeper researches and studies , but excellent collective terminologies .
September 9, 2014
A perfect introductory read
September 8, 2015
this book is pretty simple and easy to understand for someone who wants to learn basic economy.
October 25, 2016
my father made me read this
January 30, 2019
I read this book twice
June 7, 2022
Simple and brief concepts about economy.
October 9, 2025
Quick and fun refresher on key economic concepts.
Simple, and delivers what it promises.
Simple, and delivers what it promises.
Displaying 1 - 23 of 23 reviews