Book review: Microeconomic theory (Concepts and connections) by Michael Wetzstein

Microeconomic theory: concepts and connections – Michael Wetzstein

Synopsis:
This book explains the principles of microeconomic theory. Starting from the basics in consumer preference and utility maximisation, it progressively covers more complicated topics all the way up to asymmetric information and externalities. Each chapter is ‘mapped’ out so you can see how the concepts connect to each other (hence the title). There are plenty of diagrams to graphically explain the concepts and there are plenty of tables and equations. The examples are very useful to see how the concepts are applied to situations.
Real life questions are asked throughout the chapters to show the connection between the theoretical concepts and real world use. The ‘application’ boxes provide insight to issues seen in the real world and use the concepts to explain how these issues are dealt with. For example: an application box explaining the minimum wage explains if you should be for it or oppose it.

What I gained from reading this book:
I think the best aspect in this book is the real life questions it answers. So many people don’t realise the potential use economics has in their daily life decisions. Each chapter answers specific important questions such as ‘How do we decrease our dependence on foreign oil?’, ‘Is allowing the poor to have affordable housing desirable?’, ‘Why have equal opportunity legislation?’, ‘Should you always play the lottery?’. The answers to these questions are very insightful and revealing. In addition to reading the answers, I learned how to answer similar questions on my own using economics. As you can see, economics is useful in a wide range of topics. The number one gain I made from this book was the ability to question everything I hear or see and find answers.

Positives:
Well set out and provides useful examples and studies. Provides a good connection between the concepts and real world application. A wide range of topics are dealt with in detail.

Negatives:
The book uses a lot of equations and mathematics to explain the concepts. If you don’t like maths, you won’t enjoy these explanations. Of course the book also explains the concepts through words and diagrams, so it isn’t just math.

Recommended for: People interested in economics
I recommend this book for people wanting to learn economics. Because it starts from the very basics and covers a wide range of topics, it is a good choice. On the other hand, people who always question the Government’s policies will benefit from studying economics because it will give you a good understanding of why those policies were created. Economics provides a way to analyse the choices we make and helps us better understand those choices.
Genre: Economics

Overall rating: 6 out of 10 stars

Australians can buy the book by clicking the picture below:

Where to from here:
If you decide you don’t want an in-depth book on economics and prefer to learn a general understanding of business as a whole, I recommend the following book:
MBA in a day by Steven Stralser

Alternatively, to read another book on economics, I recommend:

Freakonomics by Steven Levitt

Book review: Complete idiot's guide to music theory by Michael Miller

The complete idiot’s guide to Music Theory 2nd Ed – Michael Miller

Synopsis:
This book looks at music theory starting from the absolute basics. Starting from the basics of reading and writing music, the books slowly builds up on the topics and builds towards more advanced concepts such as counterpoint or arrangements. A CD is included that contains exercises to help develop your ear’s ability to recognise pitches, intervals, rhythms, scales and chords. The appendixes at the end of the book include a glossary of musical terms, a complete chord reference, and answers to exercises from the chapters.

What I gained from reading this book:
Being a (mostly) self-taught guitarist, I neglected learning music theory because I figured I could do without it. Although you can still be a good musician without a thorough understanding of music theory, it is harder. I was still able to compose many songs without knowing anything on music theory. When I decided to actually learn music theory, I realised that it makes life so much easier. It was only after I learned about music theory that I realised that I could have written the same songs in half the time if I knew the basics on theory.

This was the book I read to learn music theory. Although I could read sheet music, I didn’t really know anything else. The book is set out in a very practical way. I started reading from the very basics (describing tones) and learned new things straight away. Everything is easy to understand and very useful. After I finished the book I could study music by other bands and understand how I could write something just as good. My music has improved dramatically since reading this book. I don’t need to guess what will work like I did before, now I have a good idea of what will work before I even play anything. I highly recommend this for any musician that hasn’t looked at learning music theory yet.

Positives:
The way the book starts from the absolute basics means anybody can read it.
Everything is simple to understand thanks to the very thought out explanations. Having the chapters split up into the different areas of music theory means people can focus on the areas they want to learn about.
The exercises at the ends of the chapters and the CD are great to build your understanding.

Negatives:
This book teaches a foundation on music theory, so those who want to have a really deep understanding will need to find another book after reading this one.

Recommended for: All musicians who haven’t already studied music theory
I recommend this book for all musicians whether you are a guitarist, drummer, singer, pianist. Many musicians (especially guitarists) feel that music theory is only for classical players (I know because I once thought this). The truth is that an understanding of music theory will help any type of musician playing any style of music. The more you know, the easier things get.

Genre: Music

Overall rating: 8 out of 10 stars

Australians can buy the book by clicking the picture below: