''The Undercover Economist'' () () is a book by

Tim Harford Timothy Douglas Harford (born 27 September 1973) is an English economic journalist who lives in Oxford. Harford is the author of four economics books and writes his long-running ''Financial Times'' column, "The Undercover Economist", syndic ...

published in 2005 by

Little, Brown Little, Brown and Company is an American publishing company founded in 1837 by Charles Coffin Little and James Brown in Boston. For close to two centuries it has published fiction and nonfiction by American authors. Early lists featured Emily D ...

. The book provides an introduction to principles of

economics Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and intera ...

, including demand-supply interactions,

market failure In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. Market failures can be viewed as scenarios where indiv ...

externalities In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced goods involved in either co ...

globalisation Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20t ...

international trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...

and

comparative advantage In an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comp ...

. It explains in non-technical terms how

Starbucks Starbucks Corporation is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. It is the world's largest coffeehouse chain. As of November 2021, the company had 33,833 stores in 80 c ...

and other coffee providers price their products, why it is hard to buy a decent

used car A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers, rental car companies, buy ...

, why the health insurance system in the United States is failing, and why poor countries remain poor while the People's Republic of China has continuously grown rich in the last couple of decades. ''

Freakonomics ''Freakonomics: A Rogue Economist Explores the Hidden Side of Everything'' is the debut non-fiction book by University of Chicago economist Steven Levitt and ''New York Times'' journalist Stephen J. Dubner. Published on April 12, 2005, by Will ...

'' author

Steven Levitt Steven David Levitt (born May 29, 1967) is an American economist and co-author of the best-selling book ''Freakonomics'' and its sequels (along with Stephen J. Dubner). Levitt was the winner of the 2003 John Bates Clark Medal for his work in the ...

called it "a rare specimen: a book on economics that will enthrall...Beautifully written and argued, it brings the power of economics to life."

External links

Official site
Economics books 2006 non-fiction books Little, Brown and Company books {{econ-book-stub

See also

External links