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The Best Economic Theory Books, Some Classics, to Learn Theories of Economics

Many people around the world have views on how the economy works or should work. A lot of these opinions are just personal judgements which may have no evidence to back them up. Economic theory is a more respected form of opinion because it is based on evidence and is subject to constant peer review. Economic theory tries to be more objective while many of our personal economic ideas are merely subjective. It is useful to understand the different economic theories not only because they provide a lot of insight about how the world works but also because they influence so many people. Even if we don’t agree with a theory you can be certain that there are some very powerful people who do. Here are just some of the best economic theory books available today.

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The Best International Economics Books to Learn International Economics

International economics is a fascinating subject. It is quite amazing to see how the world economies are interrelated. It could be said that an understanding of this international influence is vital for anyone who wants to get to grips with the subject of economics. This is a subject that affects everyone on the planet because we all take part in this global economy. There have been many great books written on this subject and here are just a few of the best titles currently available.

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The Best Economics Books for Learning Economics

Economics is a huge topic but there are some books that can provide a good overview of the subject. These are particularly useful for those who know little about the intricacies of economics and just want to increase their knowledge, or for students looking for a general text. Economics is something that affects every human on the planet and the following books are a good way to find out more about the subject.

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The Best Macroeconomics Books to Learn Macroeconomics

Macroeconomics is interested in how the economy works overall. This is a subject that is of great interest to a lot of people in the general public and not just students and economists. An understanding of macroeconomics can help people have a much better understanding about how our world functions and why governments and international agencies might be behaving as they do. There are many great books about macroeconomics and we will only be able to examine some of the very best of them here.

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The Best Microeconomics Books to Learn Microeconomics

Microeconomics is focused on the micro level of the economy – the individual parts that influence the economy such as supply and demand as well as competition.  A study of microeconomics can help people have a much better understanding of the world around them. For those who are interested in learning more about this fascinating subject there are some great books to help them do this. Below is a selection of some works that may be of interest; although this is in no way claims to cover all the worthy books on this subject.

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What is the Austrian School of Economics?

Austrian Economics dates back all the way to the fifteenth century. It is based on the assumption that the actions of social groupings and individual humans follow natural laws much in the same way as other aspects of nature. It has been the aim of Austrian economics to produce theories to explain these actions; although the claim that this should involve different tools than used in hard science. Followers of this theory of economics are strong advocates for complete freedom in the marketplace; they believe that industry should be allowed to make voluntary contracts but they should not be coerced into anything. The reason why it is called the Austrian school is that many of the early proponents of the theory were from Austria; most supporters of the school these days do not come from anywhere near Austria.

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What is Health Economics and Why is it Important?

Health Economics has been a hot topic recently. In countries like the United States the subject can lead to much contention. Many individuals discuss the subject without ever even realizing that there is a whole branch of economic theory devoted to this topic. Health care is one of the most important issues that concerns humans and economists have a lot to say about it.

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What is Pareto Efficiency?

Pareto efficiency is something you may sometimes hear mentioned in relation to economic theory. It is named after an Italian economist named Vilfredo Pareto.  The idea of a Pareto efficiency is not related to equity because something can be meet the requirements of Pareto efficiency but be very inequitable indeed. The idea of Pareto efficiency is of interest to economists and it is particular importance for game theory.

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