Alvin Roth and Lloyd Shapely won the Nobel Memorial Prize in Economic Sciences for their work on market design back in 2012, but it is a field that is still underrepresented in economics education. All markets have rules, and how these rules are set influence how the market functions. 2021 Level: beginner The economics of legalising cannabis Economy Studies Economy Studies This course attempts to explain the role and the importance of the financial system in the global economy. Rather than separating off the financial world from the rest of the economy, financial equilibrium is studied as an extension of economic equilibrium. The course also gives a picture of the kind of thinking and analysis done by hedge funds. 2009 Level: beginner Financial Theory John Geanakoplos Yale University Though apparently siblings from the same family, New Keynesianism and Post-Keynesianism are completely different schools of economic thought. As to why and in what regard exactly, that is what this book is all about. While the former is the official label of the current mainstream in economic research and teaching (rather than neoclassic economics, which would be more apt a term), the latter tries to preserve the original thinking of John Maynard Keynes, but also additional ideas and concepts of all those building on his work. 2009 Level: beginner Introduction to Post-Keynesian Economics Marc Lavoie Palgrave Macmillan UK Rethinking Regulation of International Finance encapsulates the most important aspects of the development and operation of the international financial system. This book questions the fundamental basis of the existing international financial architecture (soft law) and explores the need for a compliance-based model based on legitimacy of regulations and accountability of the regulatory bodies in international financial stability. 2018 Level: advanced Rethinking Regulation of International Finance Uzma Ashraf Barton Kluwer Law International In a capitalist system, consumers, investors, and corporations orient their activities toward a future that contains opportunities and risks. How actors assess uncertainty is a problem that economists have tried to solve through general equilibrium and rational expectations theory. Powerful as these analytical tools are, they underestimate the future's unknowability by assuming that markets, in the aggregate, correctly forecast what is to come. 2016 Level: advanced Imagined Futures Jens Beckert Harvard University Press The current global financial system may not withstand the next global financial crisis. In order to promote the resilience and stability of our global financial system against future shocks and crises, a fundamental reconceptualisation of financial regulation is necessary. This reconceptualisation must begin with a deep understanding of how today's financial markets, regulatory initiatives and laws operate and interact at the global level. 2016 Level: advanced Reconceptualising Global Finance and its Regulation Ross P. Buckley, Emilios Avgouleas, Douglas W. Arner Cambridge University Press With the collapse of the planned economies of Eastern Europe, the market is extending its reach and at the same time claiming its universal applicability. But this is occurring while paradoxically it is becoming more difficult to define "the market". The authors, all outstanding scholars in the booming field of socio-economics, explore how concrete markets are built up and stabilized. 1998 Level: advanced Laws of the Markets Michel Callon Wiley Potts (economics, University of Queensland) proposes evolutionary microeconomics as a synthesis of the collective schools of heterodox economic thought with complex systems theory and graph theory. 2000 Level: advanced The New Evolutionary Microeconomics Jason Potts Edward Elgar The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. 2018 Level: advanced The Microeconomics of Complex Economies Wolfram Elsner, Torsten Heinrich, Henning Schwardt Elsevier Science This book presents recent thought on market efficiency, using a complex systems approach to move past equilibrium models and quantify the actual efficiency of markets. 2005 Level: advanced Beyond Equilibrium and Efficiency J. Doyne Farmer, John Geanakoplos Oxford University Press p>Twenty-first-century economists will have to understand and improve a post-Cold War world in which no single economic theory or system holds the key to human betterment. Heterodox economists have much to contribute to this effort, as a wave of pluralism spawns new lines of research and new dialogues among non-mainstream economists. 2008 Level: advanced Future Directions for Heterodox Economics John T. Harvey, Robert F. Garnett, Robert F. Garnett, Jr. University of Michigan Press Reflecting his own concerns about the contribution economics could make to the betterment of society, Eli Ginzberg published this study of Smith's humanitarian views on commerce, industrialism, and labor. Written for his doctoral degree at Columbia University, and originally published as The House of Adam Smith, the book is divided into two parts. 2002 Level: advanced Adam Smith and the Founding of Market Economics Eli Ginzberg Transaction Publishers, U.S.A. The models of portfolio selection and asset price dynamics in this volume seek to explain the market dynamics of asset prices. Presenting a range of analytical, empirical, and numerical techniques as well as several different modeling approaches, the authors depict the state of debate on the market selection hypothesis. 2009 Level: advanced Handbook of Financial Markets Thorsten Hens, Klaus Reiner Schenk-Hoppé North Holland "Stabilise, liberalise and privatise" has, since the debt crisis of the early 1980s, been the mantra chanted at developing countries by international financial institutions, donor countries and newspaper columnists with quasi-religious conviction. 2007 Level: advanced The Resistible Rise of Market Fundamentalism Richard Kozul-Wright, Paul Rayment Zed Books Economic development is a process of continuous technological innovation and structural transformation. Development thinking is inherently tied to the quest for sustainable growth strategies. This book provides a neoclassical approach for studying the determinants of economic structure and its transformation and draws new insights for development policy. 2012 Level: advanced New Structural Economics Justin Yifu Lin World Bank Publications In this clear and accessible book, an eminent political scientist offers a jargon-free introduction to the market system for all readers, with or without a background in economics 2002 Level: advanced The Market System Charles Edward Lindblom Yale University Press Financial Evolution at the Speed of Thought A new evolutionary explanation of markets and investor behaviorHalf of all Americans have money in the stock market yet economists can t agree on whether investors and markets are rational and efficient as modern financial theory assumes or irrational and inefficient as behavioral … 2017 Level: advanced Adaptive Markets Andrew W. Lo Princeton University Press Is or has economics ever been the imperial social science? Could or should it ever be so? These are the central concerns of this book. It involves a critical reflection on the process of how economics became the way it is, in terms of a narrow and intolerant orthodoxy, that has, nonetheless, increasingly directed its attention to appropriating the subject matter of other social sciences through the process termed "economics imperialism". 2009 Level: advanced From Economics Imperialism to Freakonomics Ben Fine, Dimitris Milonakis Routledge

In the graveyard of economic ideology, dead ideas still stalk the land.

The recent financial crisis laid bare many of the assumptions behind market liberalism—the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. 2012 Level: beginner Zombie Economics John Quiggin Princeton University Press Diane Perrons and Sigrid Stagl combine feminist and critical environmental economics perspectives to develop a critique of the free market growth model and offer new ideas for a more sustainable gender equitable model of development in the interests of all. 2019 Level: advanced A Feminist Political Economy for an Inclusive and Sustainable Society Diane Perrons, Sigrid (Vienna University for Economics and Business) Stagl Agenda Publishing Foundations of Economics breathes life into the discipline by linking key economic concepts with wider debates and issues. By bringing to light delightful mind-teasers, philosophical questions and intriguing politics in mainstream economics, it promises to enliven an otherwise dry course whilst inspiring students to do well. 1998 Level: beginner Foundations of Economics Yanis Varoufakis Psychology Press Noneconomists often think that economists' approach to race is almost exclusively one of laissez-faire. Racism, Liberalism, and Economics argues that economists' ideas are more complicated. 2009 Level: advanced Race, Liberalism, And Economics Colander, David; Prasch, Robert E.; Shetz, Falguni A. University of Michigan Press The world has changed dramatically in recent years and so has the field of economics, but many introductory economics textbooks have remained stuck in the past. This book provides a new beginning for the study of macroeconomics, fundamentally international in its approach and emphasizing current debates and research trends. 2014 Level: advanced Macroeconomics Dorman, Peter Springer-Verlag Transition from central planning to a market economy, involving large-scale institutional change and reforms at all levels, is often described as the greatest social science experiment in modern times. 2013 Level: advanced Handbook of the Economics and Political Economy of Transition Paul Hare, Gerard Turley Routledge The book deals with the financial instability hypothesis of Hyman P. Minsky and its application to current developments. The first part of the work summarizes the hypothesis and mentions works elaborating the hypothesis. The second part applies the hypothesis to the financial crisis 0f 2008/09. 2014 Level: advanced The Financial Instability Hypothesis of Hyman P. Minsky Michal Paulus LAP LAMBERT Academic Publishing Thirty-years of economic transformation has turned China into one of the major players in the global capitalist economy. However, its economic growth has generated rising problems in inequality, alienation, and sustainability with the agrarian crises of the 1990s giving rise to real social outcry to the extent that they became the object of central government policy reformulations. 2015 Level: advanced Social Economy in China and the World Ngai Pun, Ben Hok-bun Ku, Hairong Yan, Anita Koo Taylor & Francis Ltd Three dominant forces worldwide are driving change today in our financial markets: competition, technology and regulation. But their collective impact in reshaping the markets, though they may be viewed individually as desirable or well-intentioned, is producing challenging results that are difficult to predict, hard to control and not easy to understand. 2013 Level: advanced Rethinking Regulatory Structure Robert A. Schwartz, John Aidan Byrne, Gretchen Schnee Springer Foreign exploitation of economic crises in the developing world has been a central claim of neoliberal critics. This important and recurring international theme is the subject of closer scrutiny in this new collection, where contributors offer competing interpretations of the interaction between international and domestic forces after crises. 2008 Level: advanced Power and Politics after Financial Crises Robertson, Justin Palgrave Macmillan In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution. 2001 Level: advanced The Great Transformation Karl Polanyi Beacon Press This book analyzes the transition of chocolate from an exotic curiosity to an Atlantic commodity. It shows how local, inter-regional, and Atlantic markets interacted with one another and with imperial political economies. It explains how these interactions, intertwined with the resilience of local artisanal production, promoted the partial democratization of chocolate consumption as well as economic growth. 2020 Level: advanced Empire, Political Economy, and the Diffusion of Chocolate in the Atlantic World Irene Fattacciu Routledge This fresh and unique textbook provides students and general readers with an introduction to economics from a new and much needed perspective, characterised by its uniquely pluralist, sustainable, progressive and global approach. Unlike traditional textbooks, Introducing a New Economics contains the key concepts of pluralism, sustainability and justice. It provides students with the central questions covered by economics including resources, work, employment, poverty, inequality, power, capital, markets, money, debt and value. 2015 Level: beginner Introducing a New Economics Jack Reardon, Maria Alejandra Caporale Madi, and Molly Scott Cato Pluto Press Mr Minsky long argued markets were crisis prone His moment has arrived The Wall Street Journal In his seminal work Minsky presents his groundbreaking financial theory of investment one that is startlingly relevant today He explains why the American economy has experienced periods of debilitating inflation rising unemployment and marked … 2008 Level: advanced Stabilizing an Unstable Economy Hyman Minsky McGraw Hill Professional