- List of important publications in economics
Macroeconomics Among the most important list of publication in economics are:
"
The Wealth of Nations "*
Adam Smith
* An Inquiry into the Nature and Causes of the Wealth of Nations, 1776.
* [http://www.gutenberg.net/etext/3300 Online version]Description: The book is usually considered to be the beginning of modern
economics . It begins with a discussion of theIndustrial Revolution . Later it critiques themercantilism and a synthesis of the emerging economic thinking of his time. It is mostly known due to the idea ofThe Invisible Hand which is an often quoted phrase from the book. Its meaning is that people will unintentionally improve their community through pursuit of their own wants and needs. The Butcher, the Baker, and the Brewer provide goods and services to each other out of self-interest; the unplanned result of this division of labor is a better standard of living for all three.Importance: Topic creator, Breakthrough, Influence, Introduction
"
Das Kapital "*
Karl Marx
* Das Kapital, 1867
* [http://www.marxists.org/archive/marx/works/1867-c1/index.htm Capital, Volume I: The Process of Production of Capital]
* [http://www.marxists.org/archive/marx/works/1885-c2/index.htm Capital, Volume II: The Process of Circulation of Capital]
* [http://www.marxists.org/archive/marx/works/1894-c3/index.htm Capital, Volume III: The Process of Capitalist Production as a Whole]
* [http://www.marxists.org/archive/marx/works/1863/theories-surplus-value/index.htm Capital, Volume IV: Theories of Surplus-Value]
* [http://www.econ.utah.edu/ehrbar/akmc.htm Annotations, Explanations and Clarifications to Capital] .Description: "Das Kapital" is a political-economic treatise by
Karl Marx . Marx wrote this critical analysis ofcapitalism and of thepolitical economy from the perspective of historical materialism, the view that history can be understood as a sequence of modes of production in which exploiting classes extract an economic surplus from exploited classes.Importance: Breakthrough, Influence
"
General Theory of Employment, Interest and Money "*
John Maynard Keynes , "General Theory of Employment, Interest and Money ",1936 Description: In this book, Keynes put forward a theory based upon the notion of
aggregate demand to explain variations in the overall level of economic activity, such as were observed in theGreat Depression . The total income in a society is defined by the sum of consumption and investment; and in a state of unemployment and unused production capacity, one can only enhance employment and total income by first increasing expenditures for either consumption or investment.Importance: Topic creator, Breakthrough, Influence
Microeconomics Value and Capital * John R. Hicks
* Oxford, Clarendon Press, 1939, 2nd ed.Description: See Importance.
Importance: The book "built" on
ordinal utility and mainstreamed the now-standard distinction between thesubstitution effect and theincome effect for an individual in demand theory in the 2-good case. It generalized analysis to the case of one good and all other goods, that is, the "composite good ". It aggregated individuals and businessss through demand and supply across the economy. It anticipated theaggregation problem , most acutely for the stock of capital goods. It introducedgeneral equilibrium theory to an English-speaking audience, refined the theory, and for the first time attempted a rigorous statement of stability conditions for general equilibrium.Theory of Games and Economic Behavior *
John Von Neumann andOskar Morgenstern
* Princeton University Press,1944 Description: The book by the
mathematician John von Neumann andeconomist Oskar Morgenstern . It contained a mathematical theory of economic and social organization, based on a theory of games of strategy.This is now a classic work, upon which modern-day
game theory is based. Game theory has since been widely used to analyze real-world phenomena fromarms race s to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. It is today established, both throughout the social sciences and in a wide range of other sciences.Importance: Topic creator, Influence
Mathematical economics Foundations of Economic Analysis *
Paul A. Samuelson
* Harvard University Press (1947, Enlarged ed. 1983)The book showed how operationally meaningful theorems can be described with a small number of analogous methods, thus providing "a general theory of economic theories." It moved mathematics out the of appendices (as in John R. Hicks's
Value and Capital )) and helped change how standard economic analysis across subjects could be done with the same mathematical methods.Importance and Influence: Accelerated change in standard methods
Econometrics A New Framework for Testing Rationality and Measuring Aggregate Shocks Using Panel Data
* Davies, A. and Lahiri, K.
*Journal of Econometrics 68: 205-227,1995 .Description:
Importance:
Cointegration and Error Correction: Representation, Estimation and Testing
* Granger, Clive William James and Engle, R. F.
* Econometrica, 55(2), March, pp. 251-276,1987 .Description:
Importance:
Handbook of Econometrics
* Griliches, Zvi and Intrigilator, M. D. (eds.)
* Handbook of Econometrics, Five volumes (Amsterdam: North-Holland),1984 .Description:
Importance:
Analysis of Panel Data
* Hsiao, C.
* Econometric Society Monograph,1986 .Description:
Importance:
Distribution of the Estimators for Autoregressive Time Series with a Unit Root
* Dickey, D. A. and Fuller, W. A
*Journal of the American Statistical Association 74: 427-431,1979 .Description: Describes the
Dickey-Fuller test .Importance:
The Standard Error of Regressions
*
Deirdre McCloskey andStephen T. Ziliak [ [http://www.deirdremccloskey.com/docs/pdf/Article_189.pdf full-text] , [http://econpapers.repec.org/article/ejwvolone/331-358.htm 2004 follow-up study] ]
*Journal of Economic Literature 34: 97-114, 1996.Description: Emphasizes the difference betweenstatistical significance andeconomic significance , and shows that the understanding is not clear in a review of papers from "The American Economic Review".Importance: Raised the caution against "asterisk economics" in econometrics to another level. See
McCloskey critique .Policy Evaluation: A Critique
* Lucas , Robert E. Junior
* in Brunner, K. and Meltzer, A. H. (eds.) The Phillips Curve and Labour Markets, Journal of Monetary Economics (Supplement), 1(xx), xx, pp. 19-46,1976 .Description:
Importance:
Behavioral economics Advances in Behavioral Economics
* Camerer, C., Loewenstein, G., and M. Rabin.
* Princeton (NJ), Princeton University Press,2003 Description: Definitive one-volume resource on the field.
Importance: Introduction
Judgment Under Uncertainty: Heuristics and Biases
* Tversky , A., and D. Kahneman.
* Science 185: 1124-31,1974 Description:
Importance:
Prospect Theory: An Analysis of Decision Under Risk
* Kahneman, D., and A. Tversky.
* Econometrica 47: 263-91,1979 .Description: In this article,
Prospect theory , a descriptive theory of choices under uncertainty, is introduced, bringing together ideas from psychology (framing andprobability weighting ) and economics (expected utility ).Importance: Topic creator, Breakthrough
Experimental economics Behavioral Game Theory
*
Camerer, C.F.
* Princeton (NJ), Princeton University Press,2003 .Description: A new and insightful handbook for advanced experimental and behavioral economics students.
Importance: Introduction
The Handbook of Experimental Economics
* Kagel, J. H. and Roth, A. E. (eds.)
* Princeton (NJ), Princeton University Press,1995 .Description: The most influential experimental economics handbook.
Importance: Introduction, Influence
Finance Portfolio Theory
*
Harry Markowitz
* "Portfolio Selection", Journal of Finance, 7 (1),1952 , 77-91.Description: Development of the
utility framework which shows an optimum can be reached using a portfolio of investments. In effect the first real proof that you should not put all your eggs in one basket.Importance: Precursor to most modern portfolio theory work in finance.
Capital asset pricing model
*
William Forsyth Sharpe
* "Capital asset prices: A theory of market equilibrium under conditions of risk", Journal of Finance, 19 (3),1964 , 425-442Description: Development of the
Capital asset pricing model used to determine appropriate prices forasset s.Importance: Topic creator, Influence
The pricing of options and corporate liabilities
*
Fischer Black andMyron Scholes
* "The Pricing of Options and Corporate Liabilities" "Journal of Political Economy " 81,1973 , 637–654.Description: It developed the
Black-Scholes model for determining the price of options, in particularstock options . The use of the Black-Scholes formula has become pervasive infinancial markets , and has been extended by numerous refinements.Importance: Breakthrough, Influence
Political economy The Theory of Moral Sentiments *
Adam Smith
*The Theory of Moral Sentiments ,1759 .
* [http://socserv2.socsci.mcmaster.ca/~econ/ugcm/3ll3/smith/moral.html Online version]Description: Provides the ethical, philosophical, psychological and methodological underpinnings to Smith's later works.
Importance: Topic creator, Influence
Principles of Political Economy and Taxation *
David Ricardo
*On the Principles of Political Economy and Taxation ,1817 .
* [http://www.econlib.org/library/Ricardo/ricP.html Online version]Description: Elaborates, clarifies and corrects previous theories, and adds important new concepts
Importance: Breakthrough, influence (esp on Marx), broadened scientific foundations of economics
Progress and Poverty *
Henry George
*Progress and Poverty ,1879 .
* [http://www.schalkenbach.org/library/george.henry/ppcont.html Online version]Description: Describes how poverty in the midst of plenty results from unequal rights to use natural resources, and declining wages in the face of increasing labor productivity results from the Law of Rent
Importance: Influence, Breakthrough
Socioeconomics Ecological economics Consumer theory "Economics and Consumer Theory", Deaton & Muellbauer, Cambridge.
Production theory
Industrial organization The theory of Industrial Organisation
*
Tirole, Jean Description:
Importance:
Industrial Organization
* Shy
Description:
This is an advanced undergraduate text that does not require knowledge of calculus (although some prior knowledge would be an advantage) or of game theory. The text covers many of the basic ideas and theorems of game theory and industrial organisation, with some more advanced applications at the end of the text.
Importance:
Industrial Organisation
* Pepal
Description:
Importance:
Industrial organisation - a strategic approach
* Church/Ware
Description:
Importance:
unk costs and industry structure
*Sutton
Description:
Importance:
Managerial economics * Png, Ivan (2002), [http://www.comp.nus.edu.sg/~ipng/mecon.htm "Managerial Economics"] , 2nd edition, Malden, MA: Blackwell.
* Png, Ivan (2005), [http://www.comp.nus.edu.sg/~ipng/ap.htm "Managerial Economics"] , Asia-Pacific edition, Singapore: Pearson Education Asia.Development economics * The Theory of Economic Growth (1955) Arthur Lewis
Description: First modern Development Economics text book.
Importance: Introduction
* Development microeconomics (1999) Pranab Bardhan and Christopher Udry, Oxford
Description: Widely used text book.
Importance: Introduction
* Development macroeconomics - Pierre-Richard Agénor and Peter J. Montiel.
Description: Widely used text book.
Importance: Introduction
* The End of Poverty: Economic Possibilities for our time (2005) Jeffrey Sachs
Welfare economics The Economics of Welfare
*
Arthur Cecil Pigou
* The Economics of Welfare, 4th ed. 1932
* [http://www.econlib.org/library/NPDBooks/Pigou/pgEW.html The Economics of Welfare]Description: Pigou was the one of the most influential economists that dealt with
Welfare economics . He developed the idea of Pigovian tax.Importance: Topic creator, Breakthrough, Influence
Transport economics Health economics The Economics of Health and Health Care
* Folland S., Goodman AC. and Stano M.
* (4th edition). New Jersey: Prentice Hall,2001 .Description: The standard health economics textbook in most leading universities. It assumes some background knowledge in economics.
Importance: Introduction.
Handbook of Health Economics
* Culyer AJ. and Newhouse JP. (eds)
* Volumes 1A and 1B. Elsevier: Amsterdam,2000 .Description: The most comprehensive available collection of essays on contemporary health economics. Advanced readers will appreciate its mathematical rigor. Those who are seeking research or dissertation topics should find this two-volume set to be an invaluable resource.
See also
*
List of publications in science References
External links
* [http://www.business.uts.edu.au/finance/research/wpapers.html UTS working paper series]
* [http://www.business.uts.edu.au/finance/resources/workingpaper.html Finance and economics working paper archive]
* [http://cepa.newschool.edu/het/essays.htm Some essays in economics]
* [http://college.hmco.com/economics/landreth/econthought/4e/students/timeline/timeline01.html Timeline of Important Publications in Economics]
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