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Economics for Dummiesby Sean Masaki Flynn
Synopses & Reviews
If you think economics is a complicated discipline that’s reserved for theorists and the intellectual elite and has nothing to do with you, think again. Economics impacts every aspect of our lives, from what we eat, to how we dress, to where we live. Economics might be complicated, but it has everything to do with you.
Economics For Dummies helps you see how your personal financial picture is influenced by the larger economic picture. When you understand how what happens on Wall Street affects Main Street and how policies emanating from the White House impact the finances in your house, you’ll be able to:
Written by Sean M. Flynn, PhD, Assistant Professor of Economics at Vassar College, Economics For Dummies covers all the basics of micro- and macroeconomic theory. The next time you need to understand an economic theory or calculation, whether it’s on the nightly news or on a spreadsheet at work, you’ll no longer be in the dark. Economics For Dummies covers all the history, principles, major theories, and terminology, including:
Presenting complex theories in simple terms and helping you decode the jargon, understand the equations, and debunk the common misconceptions, Economics For Dummies could be a big boon to your personal economy!
Book News Annotation:
This guide for students and general readers uses plain language to explain the principles of economics at both the macro and micro levels. Flynn (economics, Vassar College) begins by explaining how people deal with scarcity and the tradeoffs it forces them to make. He then goes on to cover such topics as inflation, recessions, consumer demand, free markets, monopolies, and property rights. The final section contains brief biographies of famous economists as well as summaries of ten important economic ideas.
Annotation ©2005 Book News, Inc., Portland, OR (booknews.com)
The fun and easy way to get a handle on the " dismal science"
Economics is now part of the high school curriculum in 48 states, and it s enjoying a surge of popularity as a college major. Written for beginning economics students as well as anyone else who wants to understand economic numbers in the newspapers or the pronouncements of Alan Greenspan, this friendly guide offers plain-English explanations of both macroeconomics and microeconomics and shows how economic forces affect real-world events.
Sean M. Flynn, PhD (Poughkeepsie, NY), is an assistant professor of economics at Vassar College.
Demystify the science of how people make choices
Learn how economics affects you — and almost everything else!
In a world of limited resources, how do people maximize their happiness? That's what economics is all about, and Economics For Dummies tackles the topic in terms you can understand. This handy guide explains both macro- and microeconomics so you can comprehend the economic forces that shape our world.
Discover how to
"Economics For Dummies will: Explain what an "economy" is and how government and individual consumers shape a national economy--and how the economy shapes government and individuals in return. Explain what economists do and how to understand what they say. Explain paradoxes, like: why it's a good thing for individudal consumers to sock away more savings, but a bad thing if all consumers start stuffing their mattresses (or bank accounts), how narrow self-interest can produce broad social benefits, how the uncoordinated markets of one nation get whipped into shape by the world market Define the basic terms of economics ("macroeconomics--GDP, inflation, business cycles, fiscal policy, monetary policy, trade deficits, etc.; "microeconomics --markets, supply & demand, pricing, regulation, etc.) and show how the forces of economics apply to everyday events.
About the Author
Sean Flynn earned his Ph.D. in Economics at the University of California, Berkeley, studying under Nobel Prize winners George Akerlof and Daniel McFadden.
He is a member of the American Economic Association, the American Finance Association, the Economic Science Association, and the Society for the Advancement of Behavioral Economics.
His research focuses on the often puzzling and seemingly irrational behavior of stock market investors, but he’s also investigated topics as wide-ranging as the factors that affect customer tipping behavior at restaurants and why you see a lot of unionized workers only in certain industries. He’s also a leading expert on closed-end mutual funds.
Table of Contents
Part I: Economics — The Science of How People Deal with Scarcity.
Chapter 1: What Does Economics Study? And Why Should You Care?
Chapter 2: Cookies or Ice Cream? Tracking Consumer Choices.
Chapter 3: Producing the Right Stuff the Right Way to Maximize Human Happiness.
Part II: Macroeconomics — The Science of Economic Growth and Stability.
Chapter 4: Measuring the Macroeconomy: How Economists Keep Track of Everything.
Chapter 5: Inflation Frustration: Why More Money Isn’t Always a Good Thing.
Chapter 6: Understanding Why Recessions Happen.
Chapter 7: Fighting Recessions with Monetary and Fiscal Policy.
Part III: Microeconomics — The Science of Consumer and Firm Behavior.
Chapter 8: Supply and Demand Made Easy.
Chapter 9: Getting to Know Homo Economicus, the Utility-Maximizing Consumer.
Chapter 10: The Core of Capitalism: The Profit-Maximizing Firm.
Chapter 11: Why Economists Love Free Markets and Competition.
Chapter 12: Monopolies: How Badly Would You Behave If You Had No Competition?
Chapter 13: Oligopoly and Monopolistic Competition: Middle Grounds.
Chapter 14: Property Rights and Wrongs.
Chapter 15: Market Failure: Asymmetric Information and Public Goods.
Part IV: The Part of Tens.
Chapter 16: Ten (Or So) Famous Economists.
Chapter 17: Ten Seductive Economic Fallacies.
Chapter 18: Ten Economic Ideas to Hold Dear.
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