A dictionary of Economics from Oxford  

BOOKMARK-5

Sarthak Shankar

Oxford Dictionary of Economics, John Black, Nigar Hashimzade and Gareth Myles, Oxford University Press, Pp 464(PB), $19.95

Oxford cements its position as an authority on dictionaries with its latest release Dictionary of Economics.

The book is quite exhaustive with over 3400 terms, “this bestselling A to Z covers all aspects of economics, from micro- and macroeconomics to e-commerce, environmental economics, and international trade.” That said the dictionary is simple enough and well adapted for everyday use.

In keeping with the Oxford tradition, the latest, fourth edition, has been thoroughly revised and updated to include over 200 new entries, adeptly covering recent economic events with new terms like “agent-based modelling, happiness index, and social interaction.” We find other terms, tailor made to describe the financial crisis such as “credit crunch, quantitative easing and toxic asset.” The book walks the extra mile by listing Nobel  laureates in economics, Greek alphabets, and accepted acronyms, coupled with the official website for each organisation in the Annexure.

The editors of the book are John Black, Nigar Hashimzade and Gareth Myles. Black was a Fellow and tutor in economics at Merton College, Oxford and Professor of Economic Theory in University of Exeter. His works include The Economics of Modern Britain and Essential Mathematics for Economics, to name a few. Hashimzade is a professor at the University of Reading. Her publications include papers in Economic Theory and Econometric Theory. Myles is Professor of Economics at the University of Exeter and Research Fellow at Institute of Fiscal Studies. His works include Public Economics and Intermediate Public Economics.

Whether a student and economist in the making or a teacher, Dictionary of Economics serves as an invaluable point of reference. The language and presenta-tion is easy enough for a layperson. And, if for no other reason, April Fools are right around the corner – why not show off a sudden onset of understanding of the global economic scene and fool friends and family?

(Oxford University Press, Gret Clarendon Street, Oxford OX2 6DP United Kingdom.)