Understanding economics

A great way of that what each and every one of us can see in this world is happening due to the simple game of demand and supply. Not only stock markets and financial institutes are playing that game, but every person that has ever enacted as a consumer has somehow taken part in that game. Think of amazon.com, ebay or the (nowadays mostly uncommon) weekly market, in which taste and preference lead to supplys and where certain new products, new tastes and overproduction stipulate demand.

One of the best introductions I have read so far is the book “Principles of economics” by Greg Mankiw, he himself a professor at Harvard and teaching economics. In simple and basic terms is economics explained, analyzed, examined and brought into use, not only in abstract terms, but also in every day examples.

Whether being a student in business administration or economics, or whether being generally interested in this field, Greg Mankiw is worth to read.

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