(VANITY) Economics textbooks and careers in economics?

[Jibaholic]

My apologies for the vanity. As an ex-liberal it has been very rewarding to finally see the truth! I've been reading a lot of lay books on economics such as those by Thomas Sowell. I'd like to read a more formal textbook or two on economics and was wondering if anyone here could recommend some?

Also, I'm currently in IT. I have a degree in Pure Mathematics and am considering switching fields to become an actuary. Are there any other good careers that have to do with math and economics?

Thanks!

[Alberta's Child]

I'm going to follow this thread today because I'm interested in seeing what else people post here. It may not be what you would consider a "formal economics textbook," but I would strongly recommend that anyone who is interested in economics should read George Gilder's Wealth and Poverty, which was originally written in the late 1970s (and revised in the early 1990s)and served as the defining academic work on the subject of supply-side economics.

[tcostell]

I've worked in Economics and quantitative finance for 17 years. In my personal experience the most important economics text I've ever read was "Knowledge and Decisions" by Thomas Sowell. But my area of expertise is very specialized and it's probably not a good direction to look to go.

If you're actually looking to change careers, it's probably going to require a little more formal education. There isn't much call for Economists without graduate degrees in the field. Also, the federal reserve pays poorly in comparison, but they hire a ton of economists right from school. Apart from working in academia it's sort of a right of passage for financial services work.

Freepmail me and we can discuss.

[Xenalyte]

For understanding how business economics goes down, I have yet to meet the equal of Brealey and Myers. Their Principles of Corporate Finance (in its sixth edition, first published in 1983) is clear, accessible, and downright funny at times.

For instance, in the first chapter you are treated to examples of balance sheets using a guano factory.

The footnotes are fabulous as well.

I am dead serious about this. Great book. You can get it at Amazon and Barnes & Noble, and I've just found nine copies on eBay.

[groanup]

Get your hands on everything written by Milton Friedman and read it twice.

[spinestein]

While not really a "textbook", Milton Friedman's "Money Mischief" is exceptional.

[bowzer313]

Read "Human Action" by Ludwig Von Mises.

[Xenalyte]

If you get interested in investment management, FReepmail me. I used to work for one of the country's largest mutual fund companies, and I can dish the dirt on it and lots of its competitors.

[metesky]

Free Republic, in its never ending quest to become a one-stop shopping solution for all its members, offers economics lessons here.

[Willie Green]

For instance, in the first chapter you are treated to examples of balance sheets using a guano factory.

Sounds like you make no distinction between economics and basic beancounting.

[untenured]

I'm a university economist, and for my lower-division students I recommend The Economic Way of Thinking by Paul Heyne et al. It's not so formal in the sense of using a lot of math, but it does use a lot of the economic language -- "marginal" thinking, e.g.

For upper-division undergrads in core theory courses Price Theory and Applications by Steven Landsburg is also good.

If you don't need an orthodox textbook many of the selections here are good.

[GovernmentShrinker]

It's not a textbook, but if you haven't read it already, you MUST read "Economics in One Lesson", by Henry Hazlitt.

[Krafty123]

Have you considered getting an MA in Applied Economics? UMich and NYU have excellent programs.

[Jibaholic]

Thanks everyone for the great suggestions.

I'm thinking about going back to school to get a masters, I'm just not sure what field. Applied economics seems like a great idea. Since I'm married a PhD is out of the question, I've made a much more important committment to my wife :)

[beckaz]

Are there any other good careers that have to do with math and economics?

FINANCE (pricing assets, portfolio mgmt, trading etc...) and a host of other things. Math is great for everything and Econ is a very good and broad based discipline, you should be in good shape.

PS: finance has the some of highest paying jobs.

[Mr. Jeeves]

I have a degree in Pure Mathematics and am considering switching fields to become an actuary.

A pretty good choice, but the big money is in designing algorithmic trading systems for Wall Street firms. If you are willing to move to New York, you can make very big money right now - and they are all hiring mathematics graduates. ;)

[PatoLoco]

I just began studying for my master's degree in economics and I am interested in finding some sort of a job in economics so that I can get some relevant experience. I'm not having much luck because my undergraduate was in political science and I am unqualified for most research assistant-type positions. I am debating on whether to quit my full-time job where I'm making decent money to go to school full-time and to find an internship somewhere in DC. Do you have any suggestions?

[Krafty123]

Usually, you need either a PhD in Math/Physics, or an MS in Quantitative/Mathematical/Computational Finance.

[Krafty123]

Are you at JHU?

[Mr. Jeeves]

True. I guess I assumed the poster had a graduate degree.