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New Book: Microeconomics Made Simple

Microeconomics Book CoverOf my books, the one that sells the most copies each month is the one that has the least to do with personal finance: Accounting Made Simple. I wrote the book with small business owners in mind, but it has turned out to be very popular with business students who are struggling in their accounting courses.

Over the last few years, many readers of that book have asked whether I would consider writing a similar book about microeconomics. While that seemed like a great idea, there was one obvious problem: I’m not an economist. My training in economics consists of just a handful of undergraduate classes.

So, last year, I turned to somebody I know who is an economist (and an excellent writer) — Austin Frakt — to see if he would be interested in partnering up on such a book. For those of you who aren’t familiar with him, Austin is the founder of the health policy blog The Incidental Economist, as well as a regular contributor to The New York Times. (He’s also a Boglehead.)

Today, after many months of work, the book is finally available:

Austin and I would encourage you to pick up a copy of the book if:

  • You never learned microeconomics and yearn for a basic intro that won’t take much time or make your brain hurt,
  • You learned microeconomics, but so long ago that you’re rusty and want to brush up,
  • You’re a student with a microeconomics course in your future and you want to get a jump on the basic concepts,
  • You’re taking a microeconomics course right now, but it’s going too fast for you and you want a simple way to review the fundamentals, or
  • You find yourself puzzled by some discussions of markets, profits, opportunity cost, or other microeconomic concepts and want a way to get up to speed.

Temporary Price Discount

As I’ve done with prior book releases, this book will be temporarily discounted for the first few days of publication. Specifically, from today through Wednesday (June 4th), the Kindle price will be discounted from $4.99 to just $0.99. As a reminder, Kindle books can be read on a plain-old PC or Mac — no need for an actual Kindle device. You can download the free Kindle software here:

Also, for anybody interested, the Kindle version of Accounting Made Simple will be discounted as well during that same period.

What’s In The Book?

This book is in two parts. In Part One, we discuss several of the most basic concepts of economics, such as utility, supply, demand, market equilibrium, and some ways in which governments intervene in markets. In Part Two, we focus on the degree of competition in different types of markets, as well as the outcome of that competition. Market structures considered include: perfect competition, monopolies, oligopolies, and monopolistic competition.

A detailed chapter-by-chapter table of contents is available on Amazon.

Sample Excerpts

For those curious to see what the book is like, Austin and I have published a few brief excerpts:

To give a good sampling, these excerpts come from both earlier and later sections in the book. Naturally, the topics are somewhat easier to understand within the full context of the book.

So, please go check it out and pick up a copy if you have an interest in the subject matter:

Microeconomics Made Simple: Basic Microeconomic Principles Explained in 100 Pages or Less

PS: Special thanks go to Wade Pfau and Julian Jamison for contributing their time and expertise for technical editing.

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