Book Report: Students are required to submit one book report on one of the selected books on the following page. Books are selected based on current relevance, historical importance, current access and the degree to which they enhance the subject of Microeconomics.The book report will represent 25% of the final grade. The book reports are to be no more than 12 pages and no less than 10 pages, double-spaced, 12-point font (TNR). Footnote or endnote all references except the primary text. Papers must be of acceptable business quality in terms of grammar, spelling and print quality. Book reports must be turned in at the beginning of class on the due date. Students need to submit a paper copy and email a digital copy. No late papers will be accepted. The book report will be graded for the content outlined on the following page.Book ReportA number of people have asked for some guidance on the books. I put some note below on each book. Ifyou have not chosen a book yet, I hope this helps you decide. FYI, each of these books is available forpurchase on Amazon as a physical book, an EBook (which you can read with a Kindle or through an APPin the Chrome browser) and an audio book.Milton Friedman: Capitalism and Freedom – Milton Friedman is the intellectual Godfather of themodern conservative movement. He was a major influence in 1980’s political policy and advocates forfree markets in all possible scenarios. Capitalism and Freedom is his best work on his philosophy and inthis book he lays out multiple of example markets that he wants to see change from controlled marketsto less controlled markets.John Kenneth Galbraith: The Great Crash of 1929. This is by far the most influential and respectedhistorical accounting of the Great Crash. Excellently written and researched. If you are interested in adetailed retelling of what the Great Crash was and was not, this is the best book to read. This book ishere for two reasons; first for students who learn through history, second is for those that want tounderstand depression and recession issues. You may be shocked and disappointed at the similaritiesbetween the 1929 crash/depression and our most recent recession.Chrystia Freeland: Plutocrat. I recently added this book to the reading list. It covers the issue, broughtto prominence by the Occupy Movement and Bernie Sanders, of the growing disparity in the distributionof income and wealth. This well researched book focus on North American markets, but includesreferences to Asia and Europe too. The author is a reporter first and a social economist second. If youare interested in what Occupy is all about or the more frequently referenced distribution of incomeissues, this book details out the 99%/1% issue.Thomas Sowell: Applied Economics. Thomas Sowell is a committed Free Market advocate. He haswritten almost a dozen books, but this is the best one for the purposes of this class. In my opinion it isalso his best book. Sowell is active in current policy debate and you can find him commenting almostevery week on regional or national Government market involvement. He also has a good personal story,which will make your Author section research interesting.Paul Krugman: The Conscience of Liberal. Krugman is recent Nobel Prize winner. He is also a prolificwriter. I limit our selection to just this book. The Conscience of Liberal is a good primer of how modernKeynesian theory is utilized in current Gov policy. Krugman is our most liberal author (contrast him withSowell). You can frequently find explaining the beneficial role the government can play as both an actorand referee.Robert Reich: Supercapitalism . Robert Reich is another prolific writer, he was the Secretary of Labor forPresident Clinton. In that role he was widely regarded as one of the best policy makers of the modernera. Supercapitalism is Reich’s warning that the balance of power in the Market systems has changed(remember that graph in Chapter three with Gov, Households and businesses). Reich promotes thatHouseholds have lost much of their authority not to the Gov, but to the Business sector. The pastconcern that Government is the one element likely to get out of control is passé. Reich warns that multinationalcompanies have attained a power position more powerful than either Gov or households. Reichhas an inspiring personal history.Robert Heilbroner: The Worldly Philosophers. This is a true history book. Heilbroner creates achronological timeline of all the major contributors to the theory of economics. This is the top sellingEconomics books of all time. If you are a historical/time-line learner this is a great book for you. If youwant to see how economics has changed as the world has changed this is a great book. This book isstructured differently from the rest of the list and will require some adjustments to the outline in thesyllabus; I will go over that in class. If you want to truly understand economics from a social philosophyperspective I recommend this book.Joseph Stiglitz: The Price of Inequality. Academic and Political Economist Joseph Stigiltz reviewsgrowing disparity in the distribution of wealth and income. He discussed the impact of this reality andthe potential implications for democracy, monetary policy, budgetary policy, globalization and thestanding of living in the US. Sitglitz presents a cause for this reality and a potential solution.Richard Thaler: Misbehaving: The Making of Behavior Economics. Richard Thaler has spent his careerchallenging the notion that the central agents of the economy are rational automatons. Instead Thalerpresents research that the central agents in our economy are “human” – predicable but error-proneindividuals. This collection of research has impacted the underlying assumption of economics. This is anexcellent book with management, marketing, and policy lessons.Joerg Rieger: No Rising Tide. Rieger is a Main–Line Theologian and this book is first a Theology bookthen an economics book. He writes this book from a “Sermon of the Mount” perspective. He connectsOld Testament, Gospel and New Testament teaching to the current free market system. The Title of thebook is a criticism of JFK’s speech about “A rising tide lifts all boats.” The vocabulary is the vocabulary ofa Theologian. If you are a Biblical Studies major or minor you will be completely familiar with thevocabulary he uses, if you are not get ready to learn a few new terms. This is an intellectually andspiritually challenging read. Due to the complexity of this book, I award the student an additional 5% forselecting this text (your grade *1.05)Thorstein Veblen: The Theory of the Leisure Class. We will discuss “Conspicuous Consumption” soon.Veblen is the coiner and this book is his thesis on that concept. Veblen is a social critic and he identifies“leisure class” social behavior, charts its history and identifies the positive and negative realities of thisclass. If you are a Social Science major or a Marketing Major, this is a good book. Due to the complexityof this book and the author determination to show off his vocabulary acumen (Veblen is a smart guy andhe wants his readers to know it), I award the student an additional 5% for selecting this text (your grade*1.05)Thomas Friedman: The World is Flat and The World is Hot, Flat and Crowded. These two books areexcellent books on Globalization. The author is open and honest about the pros & cons of Globalization.The Worlds is Flat is the best book I know on the history, concept, interworking and potential ofGlobalization. The World is Hot, Flat and Crowded is also about Globalization, but primarily about energyand the environmental issues that Globalization is creating. These are long books and for that reason Iaward the student an additional 5% for undertaking these texts (your grade *1.05).Just a few quick suggestions.Consider selecting a book that matches your major. These are all great books and most areconsidered modern classics, take advantage of the application to your other studies.Pick a book from a philosophical position opposite to yours. If you resonate with liberal politicsread Milton Friedman or Thomas Sowell. If you resonate with conservative politics readKrugman or Reich. All these books are well done works by reasonable, highly educated andsuccessful authors. Get to know what other people think from the best sources.Some of these books are an opportunity to learn the in-depth details of an issue. If you want tounderstand specific issues on a deep basis (like Globalization, Climate Change, Distribution ofIncome or Depression/Recession issues) select the appropriate text.The post Business Book report appeared first on Academic Essay Guru.

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