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Book Reviews

Modern Microeconomics by Anna Koutsoyiannis

March 7, 2019 — by Amit Mishra

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Preparing textbooks is really a tough task. Writing textbook does not provide you with creative freedom. Write within a limited space and you just cannot transcend the limit that has been set – so, thinking about creative liberty is almost a sin for an author who has to prepare a textbook for academic purposes. And there, you can just imagine the amount of pain and courage an author has to have!

You have to interpret the ideas and theories propagated a long time ago. However, within the limited atmosphere to explore something new there are some writes who have made their marks by a different style of writing. They write in two different ways – either they present the simplified version of theories or connect it to real life by providing real-life examples. In Economics, Microeconomics is the foundation pillar to support all the building of economic theories. No doubt, there are a lot of books in this field, but one name comes in everyone’s mind when he or she tries to understand the core concepts of macroeconomics. The name of the book is ‘Modern Microeconomics’ By Anna Koutsoyiannis. So, today I am going to talk about this book in detail. And I hope this article (and the book review) will let people have a clear idea of how useful is it for the beginners and experts as well.

About the Book:
Modern Microeconomics by Anna Koutsoyianis is a textbook of macroeconomics. It deals with the core concepts of this subject. It has discussed all the fundamental theories of macroeconomics in detail. The book has given more importance to ‘why’ rather than ‘what’. It tries to build intuition among readers to understand why a certain thing is happening. Economics, at its best as well as the worst, is all about assumptions and the moment one breaks this assumption in simplified form and connects them to real life situation becomes the best selling author. Prof. Anna has done a tremendous job in providing graphs and maths in a simplified form.
Moreover, the book is more focused on mathematical treatise to theories. Where most of the books in microeconomics does not include modern development in the field, the present book has included these chapters like recent theories in demean analysis and the new form of market competition. The author tries to present her thoughts in short paragraphs, never used repetitive arguments and made its volumes. It presents thoughts and concludes them with graphs and mathematics to clarify.

A comprehensive and in-depth analysis has been done by the author to illustrate the theories and make it more feasible for the readers. And this way, the author has ensured that even the beginners in the field of microeconomics do not have any trouble dealing with the subject of their studies. The chapter ‘Theory of Price Determination’ is the best among all chapters. Whether you talk about monopoly or oligopoly the author has done an in-depth analysis by providing diagrams more than words. Moreover, the language is neither easy nor hard and you can certainly call it intermediate. And it guides you in a step by step format and builds your comprehension so that you can understand the core concepts of macroeconomics with the help of three basic things, understanding of theories by words, graphs and maths.

Conclusion:
Though it might be my assumption but this book is for the readers who already have a basic understanding of the microeconomics. In a nutshell, it guides a student to become an expert in the subject. It lacks nothing. Language, concepts, diagrams, maths and everything in the is explained in a moderate language that is easy to understand. I strongly recommend this book to everyone who wants to understand the process of economics and tries to connect it with real life.

Buy the book – click here to get a copy from Amazon

Book Reviews

Basic Econometrics by Damodar N Gujarati – Book Review

February 26, 2019 — by Amit Mishra

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There is a classical remark, “a theory without observation and observation without theory is incomplete.” It suits well in Economics because it deals with practical aspects where you have to verify your theories with empirical pieces of evidence. The modern economics is full of complexities and it needs precision. Because even a 0.5% change in the data can create a lot of hectic moments for the people involved in particular research. That’s why Econometrics has been introduced in Economics. Econometrics simply states ‘measurement of economic theory’ as it validates the economic theories with certain tests. However, econometrics is a pretty clumsy subject if you get stuck in the elementary level. Once you are able to break it up then it sounds like a voluminous novel. To understand better you need to consult a good book in this field. So, today I am talking about the book “Basic Econometric” by Damodar N Gujarati. The author is a world-famous personality in the field of econometrics and his book is a best-seller, no doubt! I will walk the beginners through this book.

About the Book:
As the title suggests the book is all about providing rudimentary information in econometrics. The subject needs a precise treatment in order to make it feasible for the readers (academic ones, mostly) to understand it in the simplest form. The author has maintained the simplicity of language and provided the ideas in a combination and it further breaks it down for the beginners as it demands a lot. The chapter division is also good that keeps a reader informed about the previous one before going to the next chapter. He has put all the things on a track. So, in terms of basic that a reader would like to see in a book, author Damodar N Gujarati has done extremely well.

Econometrics is all about Regression and if you understand it better then you can understand the subject easily. Rather focusing on the theories and data, this book builds the intuition behind any occurrence. Why this thing is happening? It provides a road map to the readers to further their knowledge. Regression is dealt in a pretty good way by Prof. Gujrati.

It illustrated important concepts through intuitive and informative examples & data without restoring to the matrix algebra, calculus or statistics beyond the elementary level. The best thing in the book is that it does not present only ‘What’ and ‘How’ but “Why’ also. It lets the readers be engaged and be proactive while solving or understanding any example or theory. It talks about things in a detailed manner. Even the smallest things are dealt in an illustrative way.

Conclusion:
The book best suits for the students who want to create a sound base in Econometrics. Before getting deeper into the clumsy parts of Econometrics a student must read this book. Not just an elementary level student but a learned person can also take a look at the content of this book. Simply, it is a must have book for the students who are trying to build their careers in econometric studies. Once you take this book, do read it cover to cover. Don’t even skip a single chapter and then only you will be able to fully utilise this basic book on Econometrics by Professor Damodar N Gujarati. All the best for your studies! You can buy the book from Amazon:

Click here to buy the book – Amazon India

Book Reviews

Development Economics by Debraj Ray – Review

February 7, 2019 — by Amit Mishra

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The term Development is not so old. It has just come into limelight after the second world war. When countries become more conscious about sustainability, the term development occurred. That may misguide us with another term Growth but they are two different things. Growth is all about the increase in per capita income whereas development reflects growth plus some structural changes. So, there are many books on this topic. For the academic needs, students often have to rely on the names their teachers offer or their syllabuses bring to light. Today, for Indian students of Economics, I am taking a book of development economics and I will try to present before you what the author has done here. So, the book is “Development Economics” by Debraj Ray.

About the Book:
One of my econometrics teachers recommended me this book. So. one thing is clear from this that the book is not going to deal with theories only. It will also touch proper empirical shreds of evidence. The book by Debraj Ray is an academic book, no doubt, but he maintained the harmony between academic language and non-academic language. Readers who are not coming from an economics background can also take a look at the book and into the content and can get informed a lot about development and its context in terms of economic perspectives. It is obvious that already the subject is full of classical theories. However, he has not discussed these theories with a pedantic outlook. He has rather treated them well and told the readers what you can expect from that.

Technically, the book is more focused on the issues of low income and middle-income group countries. It reflects the problems, their causes and what will be the consequences of these in the near and distant future. The book is loaded with statistical tests and empirical evidence. So, it should be noted that the author (and a scholar) has not tried to confuse the readers with classic dilemmas created by the theorists. It tries to figure out the root cause of their backwardness and why development is taking place so rapidly in these areas. It suggests and exerts that development is not a process that is dependent on a single factor. He successfully finds himself in a position to clarify that it is supported by multiple factors like the condition of Human and Physical capital, reducing the inequalities and making fresh avenues for a market that can lure the investment.

So, as per my reading and also the suggestions of my professors and many students I have talked to (who have read this book), the book, Development Economics by Debraj Ray is an ideal textbook for the students who want to understand development economics. The content is classified in a friendly format and also presented to the readers in a way that makes it further easier to be comprehended. Usually, the books of this kind tend to become confusing and intellectual than being friendly and simple. Debraj Ray has saved his book from going that way!

Conclusion:
The book is an essential read for graduation and postgraduate students in Economics. Debraj Ray is a Harvard Economist who has done a magnificent job in his book to come out with several problems of UDCs and tries to figure it out how they can be overcome. The Nobel Laureate Prof. Amartya Sen said about this book, “An elegant, insightful and extremely effective textbook… combines astute theoretical reasoning with a firm grip on empirical circumstances, including institutional possibilities and limitations.” So, I will suggest this book once again! You can get a copy of this book from Amazon India:

Get the book – click here to buy

review by Amit Mishra

Book Reviews

Elephants in the Room – Book Review

January 23, 2019 — by Amit Mishra

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Novel – Elephants in the Room
Novelist – Suraj Laxminarayanan
Year – 2018
Book Published by – The Write Place
My Overall Rating – 3.7/5

I have been a student of Economics and, more or less, the literature that I have to go through in my academic pursuit reflects the qualities of mainstream English literature. That’s why my interest in literature is deeper compared to the students of any other subjects. Now, this novel by Suraj Laxminarayanan, Elephants in the Room, came to me previous month. I began reading it and completed it in a week, almost. It took a little more time than expected because it is bulky, fat and voluminous. It could be shortened by the author, I believe so. However, as it’s the debut by Suraj, I believe he will get better with time. I will share my honest opinion as a book reviewer.

Book Reviews

Indicting Goliath by Lal Bhatia – Book Review

September 18, 2018 — by Amit Mishra

“When I reported the success of the prototype to Wig, he represented that he would get his attorneys to start working on a patent and encouraged me to loan funds from ABII with the understanding that once the offering was complete the funds would be returned to ABII.”

And this is where a talent was spoiled by a crony and a crooked person named Manmohan Wig! Lal Bhatia, if you don’t know him yet, was once declared darling of the USA and called an asset. Praised by his professors, colleagues and almost everyone who knew him, Lal Bhatia was trapped into a net which was unable to be broken by him.

In this autobiography, Indicting Goliath, Lal Bhatia has exposed what happened to him during his days with a crooked and other corrupts. The book also contains many references and citations and the records of court proceedings which prove that Lal was actually innocent and that he was falsely indicted and prosecuted when he was trying to expose the fraud, the money laundering of the real criminals who were doing the black-hat trick in the name of a business.

The book, written in the first person, is a non-fiction and rightly so because the person who wrote this wanted to tell his story. Nevertheless, the story that Lal Bhatia tells in Indicting Goliath is nowhere compromised and offers a thrill equal to that of a moderate contemporary fiction. You will find interrogation sequences, arrests, an investigation by a supposed criminal, sourcing of records, and so many things which will be interesting to read and also the criminal corporation of corrupt judges, corrupt FBI officers and corrupt attorneys at the services of a crony capitalist!

Indicting Goliath has thrown the eggs on the face of USA and it has left no room for them to escape. The questions that need to be answered are: how could the judges work for money instead of working for justice delivery? How could the innocent be punished? How could an innocent be tortured for so many years? Why did you leave a person on the same basis, after 10 years, that he was repeatedly narrating?

Indicting Goliath is a book which the readers will enjoy. This non-fiction book will entertain the readers more than recent fiction books… do have your read! You can get a copy of the book from Amazon India by following the link below:

Indicting Goliath on Amazon – buy now

review by Amit Mishra

Book Reviews

How helpful is Geography Through Maps by K. Siddhartha for UPSC?

July 5, 2018 — by Amit Mishra

Geography Through Maps by K. Siddhartha is a book which has been appreciated by many IAS candidates who successfully cleared the examination as well as many mentors who are preparing the future IAS officers. I also thought to have a go and then discuss my findings here and today, I am doing the same for my readers. I have gone through the much-talked K. Siddhartha’s book and I have found many interesting facts about it which I will share with you all today. And before we discuss anything else, the book is primarily for the UPSC aspirants and it will help them a lot in the GS examination.

Geography Through Maps

Book Reviews

American Maharajah – book review

April 3, 2018 — by Amit Mishra

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Mark Stephen Levy is a seasoned author – you have to admit it! He might have written only two novels but his second novel only shows how mature as an author he is. American Maharajah is a ‘whole’ piece of fiction which does not leave any space left for further addition – a complete novel. However, there are certain things which, a reader might argue, could be improved and that should be a valid argument as well because there are things like depth in characters and a little more curve in the plot which could have been explored… nonetheless, the novel is certainly a belter piece of fiction compared to the recent ones that I have read.

Personal

IIJNM Bangalore – the destination for journalism students!

January 20, 2018 — by Amit Mishra

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Are you looking for a good journalism college where you could pursue your course and expect a better grooming of yourself as a future-oriented journalist? I have been searching the same and had several options. The institution where you should be staying for your course must have the following up to the mark:

  • Updated curriculum
  • Capable and experienced faculty bench
  • Modern and tactical approach to the course
  • In-office training environment
  • Lectures and discourse by the mavens in the industry
  • Job-like experience during your projects and assignments
  • Security of a job
  • Good lodging and meals if you are staying in the hostel

 

So, with these facilities, I was looking for an institution and I ran scans in both the sectors – privately held ones as well as government funded ones. While people have the general tendency to get enrolled in the government colleges and institutions without even checking the facts – just because of low fees most of the times – they must explore other options as well. Today, I will be telling about an institution where I have been personally for the observation and that’s IIJNM in Bangalore. Let’s take a look at what I found.

Book Reviews

Why Are You Being Educated

June 26, 2017 — by Amit Mishra

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The pursuit of knowledge and goal of it has a distinguished value. Goal drives us where we like to go but purpose deals with what we become in the process of achieving our goal. The same thing is discussed in the book Why are you being educated by J. Krishnamurti. It sounds very unfamiliar question to us, we have dedicated a part of life to get an education and someone is asking why are you being educated?