Instant Economics

David Orrell is an applied mathematician and author of several books on economics, including Introducing Economics: A Graphic Guide, and Behavioural Economics (forthcoming).

Introduction • What is economics? • What does an economist do? • What is wealth? • Ancient economics • Scholastic economics • Feudalism • Islamic economics • Double-entry bookkeeping • Mercantilism • The Industrial Revolution • Adam Smith • The invisible hand • Classical economics • Karl Marx • The marginal revolution • Neoclassical economics • Alfred Marshall • Carl Menger • Marginal productivity • Inflation • Deflation • The money illusion • Rational economic man • The corporation • Preferences • Diminishing marginal utility • Demand • Supply • Elasticities • The law of supply and demand • Equilibrium • Price controls • Indifference curve • Consumer budget • Economic surplus • Deadweight losses • Opportunity cost • Perfect competition • Efficiency • Market failure • Monopoly • Monopsony • Externalities • The Great Depression • Keynes • Propensity • The multiplier • The long and the short term • Neoclassical synthesis • Milton Friedman • Chicago school • The mainstream consensus • The macroeconomy • Investment • Interest rates • Gross domestic product (GDP) • Consumption • Economic growth I - classical theory • Division of labour • Comparative advantage • Thomas Malthus • The steady-state economy • Monetary policy • Bonds • Yield curve • Credit rating • Debt • Taxes • The economics of death • Price index • Negative interest rates • Fiscal policy • Neoliberalism • International trade • Bilateral balances • Development economics • Randomized control trials • Private property • The commons • Markets • Free market economy • Communism • The fall of the Berlin Wall • Mixed economy • The IMF and World Bank • Labour • The role of government • Economic model • William Petty • Laissez-faire economics • Léon Walras • The Pareto principle • The IS-LM model • The Phillips curve • Expected utility theory • Prisoner's dilemma • The Arrow-Debreu model • The representative agent • DSGE model • Econometrics • The unpredictable economy • Integrated climate-economy models • History of money • The two sides of money • Tally sticks • Gold and silver • Paper money • Fiat money • Fractional reserve banking • Central banks • Money creation by banks • Hyperinflation • Debt and deficits • Modern Monetary Theory • Quantitative easing • Basic income • Rates of exchange • The euro • Credit cards • Cryptocurrency • Neoclassical growth model • Creative destruction • The business cycle • Human capital • New Growth Theory • Promoting economic growth • Securities • Stock • Modern portfolio theory • Random walks • Efficient market hypothesis • Options • Hedge funds • Black-Scholes • Derivatives • Value at risk • Financial services industry • The Great Financial Crisis • Post-crisis economics • Behavioural economics • Cognitive biases • Prospect theory • Behavioural finance • Complexity economics • Systems dynamics • Agent-based models • Evolutionary economics • Quantum economics • Land • Inequality • Thomas Piketty • Limits to growth • Climate change economics • Alternatives to GDP • Instability • Hyper-globalization • Power • Gender • Tax evasion • Ethics • Glossary and Further Reading.