Ask HN: Economics 101 for Entrepreneurs
According to you, what would be some of the best resources to dive into economics from a perspective of an entrepreneur who is just starting up?
5 comments
Do you want to learn the fundamentals of economics, as in micro- and macroeconomics?
Or are you more interested in more applied topics, such as business accounting, corporate finance, etc.?
Edit: I'm asking, because you state "for Entrepreneurs", which makes me think you're more interested in the applied topics - even though fundamentals like at least microeconomics will be nice to know.
Or are you more interested in more applied topics, such as business accounting, corporate finance, etc.?
Edit: I'm asking, because you state "for Entrepreneurs", which makes me think you're more interested in the applied topics - even though fundamentals like at least microeconomics will be nice to know.
The Economist has a good book on this. From memory, I think it's called "Introduction to Financial Markets".
But, beyond that, I'd question what specifically you feel you need to know in the vast field of economics that would help you grow your business?
A lot of it might be less about economics and more about finance, financial modelling, accounting, etc which are disciplines in their own right.
But, beyond that, I'd question what specifically you feel you need to know in the vast field of economics that would help you grow your business?
A lot of it might be less about economics and more about finance, financial modelling, accounting, etc which are disciplines in their own right.
I think this is the book, for easy access: https://media.economist.com/sites/default/files/pdfs/Guide_t...
Edit: skimming through it and looks like this is a lot of material in this book and other guided by the economist listed on the second page than can also be of interest.
Edit: skimming through it and looks like this is a lot of material in this book and other guided by the economist listed on the second page than can also be of interest.
Not sure on a book for you on this, but one central tenet useful to entrepreneurs would be the limited scope of regression models. If the underlying data don’t reflect the situation being modeled then the model is possibly wildly incorrect. This seemed critical to the failure of the underlying models that fouled up the financial instruments of the Great Recession.
I would generally reccomend against economics books for entrepreneurs as it's sort of an esoteric and niche subject. If you wanted to explore it for the sake of, I enjoyed Capital in the 21st Century.
For Entrepreneur / business books I reccomend The E-Myth Revisited.
For Entrepreneur / business books I reccomend The E-Myth Revisited.
Financial Intelligence for entrepreneurs - What you really need to know about the numbers