Demystifying Economics: The Book That Makes Economics Accessible to Everyone - Hardcover

Smith, Allen W., Ph.D.

Hardcover

ISBN 10: 096485046X ISBN 13: 9780964850460

Publisher: Ironwood Pubns, 2000

Synopsis

DEMYSTIFYING ECONOMICS: EXPANDED SECOND EDITION is a survey of basic economics written in simple language with the use of concrete examples that relate economics to ordinary daily life. The book is designed to make economics accessible to everyone regardless of educational background. The book provides substantial coverage of federal budget deficits and the more than five-fold increase in the national debt just during the past 20 years. The book also deals with such important topics as, "Unemployment and Inflation," "Money and Banking and the Federal Reserve System," "International Trade and Finance," and "Unions and Collective Bargaining."

About this title

From the Inside Flap:

"On a recent nationwide test of basic economic principles, two thirds of the 1,085 high school students who took it did not even know that the stock market is where people buy and sell shares--never mind that investments can tumble. Worse, few understood that scarcity drives up prices or that money loses value in times of inflation--two consumer fundamentals. Average grade: F"

U.S. NEWS & WORLD REPORT--June 14, 1999 The above article refers to a study conducted by Louis Harris & Associates on behalf of the National Council on Economic Education. The survey is based on interviews with a national cross-section of 1,010 adults aged 18 and over and a representative sample of 1,085 high school students. The results of the survey are shocking. On average, adults got a grade of 57 percent for their knowledge of basic economics compared to an average score of only 48 percent for high school students. Only 54 percent of adults and 23 percent of high school students knew that if the government spends more than it collects there is a budget deficit! The American public must become better informed about economic issues. Good economics and good politics are often in direct conflict, and when politicians have to choose between the two, they almost always choose good politics. This book makes basic economics accessibe to everyone. It is written in simple language with the use of concrete examples that relate economics to ordinary daily life. Welcome to the world of economic literacy!

About the Author:

Dr. Allen W. Smith has devoted much of his adult life to the cause of trying to make economics accessible to everyone. He taught economics to college students for 30 years before retiring as Professor of Economics at Eastern Illinois University in 1998 to become a full-time writer. His first book, UNDERSTANDING INFLATION AND UNEMPLOYMENT, became an alternate selection of Fortune Book Club, and his high school textbook, UNDERSTANDING ECONOMICS, published by Random House, was used in more than 600 schools in 48 states. From 1990 to 1993, Smith wrote a widely-read syndicated column on the economy, and for the past five years, smith has written a weekly philosophical column, "Contemplating Life," which currently appears in 14 news papers. Smith holds a B.S. in Education degree from Ball State university and M.A. and Ph.D. degrees in economics from Indiana University.

About this edition

• Publisher: Ironwood Pubns
• Publication date: 2000
• ISBN 10: 096485046X
• ISBN 13: 9780964850460
• Binding: Hardcover
• Edition number: 2
• Number of pages: 272