Although I have a basic grasp of economics, I have decided to start reading an introductory economics textbook from scratch, as the A-level notes I studied previously were little more than a shopping list of points to memorize. For this purpose, I’ve picked Economics by Paul Krugman and Robin Wells, because it has lots of problem sets to work through, and I like Krugman’s clear, to-the-point writing style. I’m trying to make this experience as painless for me as possible (read: not boring), so I’m going to read ‘pop economics’ books as well – mostly books I picked up during my preparation for my Cambridge University interview. Yes, I applied to Cambridge to read economics. In hindsight it was no surprise that they rejected me – I lack passion for the subject, and ‘passion’ is one of the key things they look for, along with academic potential. My Cambridge application was driven more by a wish to study at one of the best universities in the world – the typical ‘dreaming spires’ ambition – if they had offered me a course in Anglo-Saxon, Norse and Celtic, I might have taken it 
Was I foolish? Yes, and no. If I had never applied to Cambridge, I would have never known that there was more to economics than what I read in my A-level economics textbook (in which case I would have resigned myself to three years of boredom and would be spending my precious summer holiday watching House MD instead). If I had not known this, I would not be attempting to discover the ‘wider world of economics’ now. I would not have known that there are many econobloggers out there who eat, sleep and breathe economics with a passion. I want to learn to love this subject as they do, so that the next three years will be more bearable. You could say I’m attempting to increase my economic rent, above the transfer earnings needed to keep me in this course. (Hmm. Not sure if that’s correct or not In any case my transfer earnings for studying economics are woefully low, because I have no choice - so if I can learn to like this subject, it would be a big boost in economic rent for me)
Well, I never managed to finish the many economics books I bought last year, so I’ll attempt to do that now. Here’s my reading list:
- The Truth About Markets – John Kay
- The Elusive Quest for Growth – William Easterly
- Confessions of an Economic Hit Man – John Perkins
- The End of Poverty – Jeffrey Sachs
- The Accidental Theorist – Paul Krugman
- Inequality Explained – Amartya Sen
- The Undercover Economist – Tim Harford
As you can see, I’m pretty interested in poverty issues. One thing about economics that irks me is the way many economists push for trade liberalization without thought for those who will lose their jobs to foreign competition. Perhaps I don’t understand the true principles behind trade and globalisation, but I do know that losing a job is a terrible, painful and humiliating experience, and goodness knows how long it will take for unemployed workers to retrain themselves. It’s all very well for economists to sit in their comfy chairs and opine on the wonders of globalisation, but I’d like to see their reaction if their jobs are outsourced to economists in India 
Well, this is my plan for the next three months. Let’s hope I can stick to it!
