If You're Looking To Learn Basic Economics, Here's A Free Textbook

from the cool dept

Against Monopoly points us to an LA Times story about an economics professor from Caltech, R. Preston McAfee, who has written what he calls an "open source" economics textbook. You can download the textbook for free, and can even modify it (he offers up both a pdf version and a "source code" Word doc). It's not quite "open source" in that you're not allowed to do anything commercial with it, but it's certainly a lot cheaper than a standard econ textbook. We get plenty of questions here about where one should start learning about economics knowledge -- and while a textbook without a teacher isn't always the best place, if you did want to dig into a text, this is obviously a good place to start.

I haven't gone through the whole thing, but a quick spot check on various topics suggests that (at least in that random sample) the text is clear, well-written and does a good job explaining those concepts. And while it doesn't get into anything beyond your basic intro econ, the guy does seem to recognize the basic economics of information. As he notes in the LA Times article:
"What makes us rich as a society is what we know and what we can do. Anything that stands in the way of the dissemination of knowledge is a real problem."
And, in the opening itself certainly suggests he understands the whole scarce/infinite goods dichotomy:
Economics studies the allocation of scarce resources among people – examining what goods and services wind up in the hands of which people. Why scarce resources? Absent scarcity, there is no significant allocation issue.
Indeed. And, it's nice to see scarcity becoming absent from a good econ text as well, so "allocate" away.
Hide this

Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.

Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.

While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.

–The Techdirt Team

Filed Under: economics, free, open source, preston mcafee, text book


Reader Comments

Subscribe: RSS

View by: Time | Thread


  1. identicon
    Andrew D. Todd, 22 Aug 2008 @ 2:57pm

    It's Better to Draw Your Own Pictures Instead.

    To: CM, #6

    I notice that you say "figures," rather than "pictures" or "photographs." You don't say what kind of figures, but I take it you mean things like molecular diagrams. I would bet that you probably draw such figures on a chalkboard (or maybe a whiteboard) all the time, and don't think anything about it. You are probably looking for "figures" to use because you have difficulties producing neat enough figures to go in a published work. However, this is fairly easy to learn. It is just one of those skills like website building that you need to know if you are to be your own publisher. The price of freedom, and all that.

    I am old enough that I learned to type before I had regular access to a computer, and that I learned to type on a mechanical (electric) typewriter. This was before word processors, of course. The typewriter wasn't especially convenient to use-- I went on writing my first drafts in pencil-- but I had to type them because professors did not like reading essays in pencil, and insisted on the point. The same goes for editors, of course. Nowadays, of course, kids simply grow up knowing how to type, and it isn't an issue.

    When I went to engineering school, one of the required first year courses was Mechanical Drawing, where we were taught to use compasses and squares and triangles and french curves and lettering gauges, and whatnot to produce a drawing good enough to be published, using a special extra-black pencil lead that would photocopy well. As the assistant dean of the college who taught the course told us, Mechanical Drawing had been reintroduced by popular demand of the companies which hired engineers. It was like typing for engineers.

    Now, of course, there are various CAD/CAM programs, some of which are Free Software. Many of them aren't really so intuitive that you can use them for just doodling around-- they are more comparable to a typewriter than to a word processor. But once you have done some pencil drawings, and worked out what you are going to say, you can use these programs to make a clean copy. Once you learn to use the program properly, you will find that you can draw your own figures faster than you can chase down permissions for other people's figures. Bear in mind that you are going to be able to reuse bits and pieces of your own figures in the course of a big project like illustrating a textbook, and, in the end, it will leave you free of obligations. If you are not accustomed to using CAD/CAM, I would suggest using GIMP. It is not a CAD/CAM program per se, but it is surprising versatile, and probably easier to learn. It has the essential capabilities such as lettering, drawing straight lines, cutting and pasting between drawings, etc., which will suffice for making textbook figures. You are not going to be drawing construction blueprints, after all. Similarly, GIMP's filters can be used to reduce a photograph of apparatus to a line drawing, on which you can superimpose labels.

    Here is an example of a little illustrative drawing produced with GIMP, a floor plan of a railroad business car:

    http://rowboats-sd-ca.com/wlt_utop/rr_car.jpg

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here



Subscribe to the Techdirt Daily newsletter




Comment Options:

  • Use markdown. Use plain text.
  • Make this the First Word or Last Word. No thanks. (get credits or sign in to see balance)    
  • Remember name/email/url (set a cookie)

Follow Techdirt
Insider Shop - Show Your Support!

Essential Reading
Techdirt Deals
Report this ad  |  Hide Techdirt ads
Techdirt Insider Chat
Recent Stories

This site, like most other sites on the web, uses cookies. For more information, see our privacy policy. Got it
Close

Email This

This feature is only available to registered users. Register or sign in to use it.