Cover image for Demystifying economics : the book that makes economics accessible to everyone
Title:
Demystifying economics : the book that makes economics accessible to everyone
Author:
Smith, Allen W. (Allen William)
Edition:
Expanded second edition.
Publication Information:
Naples, Fla. : Ironwood Publications, [2000]

©2000
Physical Description:
270 pages ; 24 cm
General Note:
Includes index.
Language:
English
ISBN:
9780964850460

9780964850477
Format :
Book

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Reviews 4

Booklist Review

Smith, a teacher of economics for more than 25 years at the high school and college levels, has a career ambition of waging war against economic illiteracy, and his purpose in writing this book is to make basic economics accessible to everyone. Written in textbook style with a set of economic highlights listed at the end of each chapter, he uses simple language and concrete examples that relate economics to ordinary daily life. The author notes that good economics and good politics are often in direct conflict, and when politicians have to choose between the two, they almost always select good politics. Therefore, it is doubly important that the public understands basic economic issues. Smith explains concepts such as supply and demand; business organizations and market structures; labor economics; gross domestic product; inflation; fiscal policy; money and banking; and international trade. This handbook is an excellent resource for beginners as well as those seeking to review their understanding of economic principles. --Mary Whaley


Choice Review

In this expanded edition (2nd ed., CH, Sep'00, 38-0419), Smith (emer., Eastern Illinois Univ.) offers an overview of a typical college introductory economics course, updated to include events through 2007. A lengthy addendum summarizes Smith's view on the federal budget deficit, and a mini dictionary provides definitions for key economic terms. The advantages of this work over similar books (e.g., Robert Heilbroner and Lester Thurow's Economics Explained, rev. ed., 1998) are its brevity and clear writing style. Drawbacks include the dense layout with few subtitles; a focus almost exclusively on the US economy; reliance on examples from the Reagan era; and the author's failure to situate his presentation in the context of current debates. Clearly Smith's passion is the federal budget deficit, about which he raises valid concerns. However, for this and other current issues he makes no mention of ongoing academic controversies. As a result, the book is not as helpful as it could be for its intended general audience. Instead it may be most useful for math-averse college students who want a study guide with few diagrams and no formulas. See related Frederick Weaver's Economic Literacy (2nd ed., CH, Mar'07, 44-3973) and Mathew Forstater's Little Book of Big Ideas: Economics (CH, Jul'07, 44-6339). Summing Up: Optional. Lower-division undergraduates and general readers. M. H. Maier Glendale Community College


Booklist Review

Smith, a teacher of economics for more than 25 years at the high school and college levels, has a career ambition of waging war against economic illiteracy, and his purpose in writing this book is to make basic economics accessible to everyone. Written in textbook style with a set of economic highlights listed at the end of each chapter, he uses simple language and concrete examples that relate economics to ordinary daily life. The author notes that good economics and good politics are often in direct conflict, and when politicians have to choose between the two, they almost always select good politics. Therefore, it is doubly important that the public understands basic economic issues. Smith explains concepts such as supply and demand; business organizations and market structures; labor economics; gross domestic product; inflation; fiscal policy; money and banking; and international trade. This handbook is an excellent resource for beginners as well as those seeking to review their understanding of economic principles. --Mary Whaley


Choice Review

In this expanded edition (2nd ed., CH, Sep'00, 38-0419), Smith (emer., Eastern Illinois Univ.) offers an overview of a typical college introductory economics course, updated to include events through 2007. A lengthy addendum summarizes Smith's view on the federal budget deficit, and a mini dictionary provides definitions for key economic terms. The advantages of this work over similar books (e.g., Robert Heilbroner and Lester Thurow's Economics Explained, rev. ed., 1998) are its brevity and clear writing style. Drawbacks include the dense layout with few subtitles; a focus almost exclusively on the US economy; reliance on examples from the Reagan era; and the author's failure to situate his presentation in the context of current debates. Clearly Smith's passion is the federal budget deficit, about which he raises valid concerns. However, for this and other current issues he makes no mention of ongoing academic controversies. As a result, the book is not as helpful as it could be for its intended general audience. Instead it may be most useful for math-averse college students who want a study guide with few diagrams and no formulas. See related Frederick Weaver's Economic Literacy (2nd ed., CH, Mar'07, 44-3973) and Mathew Forstater's Little Book of Big Ideas: Economics (CH, Jul'07, 44-6339). Summing Up: Optional. Lower-division undergraduates and general readers. M. H. Maier Glendale Community College