Wealth of Nations by Adam Smith

If you’re wondering whether a single book can be enough for you to learn economics (more than just the fundamentals), then the Father of Economics is here to be your savior. “An Inquiry into the Nature and Causes of Wealth of Nations”, or shortened as simply “Wealth of Nations” by Adam Smith is the book that most economics textbooks quote and are based on. This book encompasses one of the world’s first collected descriptions of what a nation’s wealth comprises. The entire edition comprises five books that delve deeper into some of the most significant concepts in economics: from labor to stocks to opulence to political economy to revenue. The book is highly comprehensive and quite lengthy. It is definitely a must-read for a true econ-lover.

Predictably Irrational by Dan Ariely

This book sheds light on one of the most important themes in the field of behavioral economics: the irrational behavior of humans. The argument of the author, Dan Ariely, professor of Psychology and Behavioural Economics at Duke University, is that unlike the assumption of standard economics, humans are not completely rational. In fact, humans have predictably irrational behavior. The book suggests that tend to repeatedly make the same irrational decisions in a systematic and predictable fashion without realizing it, like giving up to the temptation of having a cupcake even when we decide to be on a diet, or feeling that a more expensive pill can better help attenuate your headache than a less expensive one. The author makes sure to have his readers completely engrossed by the thought-provoking examples and well-designed experiments he uses to build his argument. This book is a must-read for anyone who has a knack for psychology and human behavior!

Good Economics for Hard Times by Abhijit V. Banerjee and Esther Duflo

If you are a policy-making enthusiast, this should be your next book. This book focuses on policy debates that are getting attention in wealthy countries. Rather than taking on a wider perspective, the idea has been perceived from a microeconomic level, i.e a study about how an individual makes decisions at a given point in time. This book discusses contentious barriers like immigration, inequality, and trade.

 It’s a very peculiar book for those who might want to learn from scratch. 

Capital in the Twenty-First Century by Thomas Piketty

This book takes us back to the 18th century, elucidating the economic mechanism of the USA and UK back in the day. The book primarily revolves around when the rate of return (ROR) on capital is more than the overall economic growth over a long period of time, which results in a concentration of wealth within a few hands. Thus creating an economic disparity within society. The main premise of the book revolves around proving that ROR exceeding economic growth is not beneficial, moreover, it creates inequality in labor income. If you are a student perceived with a socialistic set of ideas, then you should give this book a read.

Why Nations Fail by Daron Acemoglu and James Robinson

This book is a culmination of years of research conducted by Daron Acemoglu and James Robinson on the economics of Africa and Latin America which was also sub-researched by 300 other authors and their specific works ( articles and books ). The book revolves around the idea of how institutions play a vital role in the achievement of higher welfare by countries. This is a must-read for those who want to grasp realistic economic concepts from a wider perspective in a peculiar way. 

Thinking, Fast and Slow by Daniel Kahneman

This New York Times Bestseller by Israeli Economist and Psychologist, Daniel Kahneman, mainly revolves around the theme of the dichotomy between the two modes of thinking in our brain. We have two systems of which the first system is emotional and instinctive while the second system is deliberate and logical. The first system thinks ‘fast’ and the second one makes decisions more ‘slowly’. The author delves deeper into detail about when we use either of these two systems and how we can improve our decision-making abilities by consciously employing the right system in the right situation. There are insights into how we behave in different situations in our personal and professional lives and how we, through gaining awareness of how the system works, can guard ourselves against glitches or bad decisions. 

50 Economic Classics 

This is a pure comprehensive volume containing a tour of major economic works from the time of Adam Smith up until the present day, presenting an imaginative canvas of economic thought that showcases the variety of approaches and perspectives that have shaped the discipline. This interdisciplinary and compellingly idiosyncratic book offers new avenues to explore and much to delight in for professional economics, students, and general readers   

The wide-ranging nature of the book also means that a lot of room is given to specific areas that economists often overlook: economic history, for one. Quite a few chapters are concise accounts of important historical episodes such as the Great Depression and financial crises, these being particularly well covered through the works of Liaquat Ahamed, Paul Krugman, and Hyman Minsky, among others.