Economics For Dummies (Paperback)

~ (Author) "Economics is the science that studies how people and societies make decisions that allow them to get the most out of their limited resources..." (more)
Key Phrases: production possibilities frontier, socially optimal output level, total revenue rectangle, United States, The Science of How People Deal, Prisoner's Dilemma (more...)

Editorial Reviews

Product Description

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:

• Learn how government economic decisions affect you and your family
• Make better spending decisions and improve your personal finances
• Maximize your business profits
• Make wiser investments

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:

• How economics affect governments, international relations, business, and even environmental issues like global warming and endangered species
• How the government fights recessions and unemployment using monetary and fiscal policy
• How and why international trade is good for you even if you don’t appreciate French champagne, Irish crystal, or Swiss watches
• How the law of supply and demand can explain the prices of everything from comic books to open heart surgeries
• How the Federal Reserve controls the money supply, interest rates, and inflation
• Basic theories such as Keynesian economics, the Laffer Curve, and Adam Smith’s Invisible Hand

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!

From the Back Cover

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

• Decipher consumer behavior
• Use the model of supply and demand
• Recognize what causes recessions
• Identify factors that lead to inflation
• Understand fiscal and monetary policies
• Appreciate the importance of international trade

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Product Details

• Paperback: 384 pages
• Publisher: For Dummies (April 8, 2005)
• Language: English
• ISBN-10: 0764557262
• ISBN-13: 978-0764557262
• Product Dimensions: 9.2 x 7.4 x 0.9 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (29 customer reviews)
• Amazon.com Sales Rank: #6,275 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

82 of 82 people found the following review helpful:

5.0 out of 5 stars of the first water, May 6, 2007

By	Caraculiambro (La Mancha and environs) - See all my reviews

Amazon Verified Purchase

This is probably the first and last review I'll ever do of a "Dummies" book, but I just had to give this book a plug. Whoever wrote it (I don't remember and I'm too lazy to scroll up and see) did a fantastic job. It's really good!

I confess that I was so impressed with the explanations and examples offered in this book that for a while I mulled over having our school switch from our current texts (Mankiw's "Principles of Macroeconomics" and Samuelson's "Economics") to this one.

But I soon thought better of it: the department would probably acquire a bad name in a big hurry if students were seen walking about with copies of a "Dummies" text under their arms as their official course text. And that would be bad for me.

But that's how good it is. Too bad I'm so self-interested! Now the students will just have to slog through inferior texts.

Don't think you're getting a free lunch, though: there are graphs, models, and equations you're gonna have to learn to wade through it.

But in my estimation, going through a layman's course in both micro- and macroeconomics could not be made more painless than here, unless your needs are so casual that you're looking to dispense with graphs and equations altogether.

In which case, good luck learning anything solid about economics!

61 of 62 people found the following review helpful:

4.0 out of 5 stars A Good Introduction - But annoying at times..., December 24, 2005

By	Michael Spitzer (New York City) - See all my reviews (REAL NAME)

I got this book because I wanted to learn about the basics of economics and the multitude of terms associated with it. It did a very good job of explaining the major universal concepts of economics, and when the author did have to "dumb" parts down in order to avoid over-complications, he very clearly stated this, which I liked. The book certainly did not cover very advanced topics, and I did not expect it to. It gave a good simple framework on the basic principles, which is what I was looking for.

One of the things I did not like, which may be just because its part of the "for dummies" series, is that much of the book's content says things like: "In this chapter, I'm going to talk about such and such" or "Please refer to chapter 10 to learn about such and such". I just felt it got extreme at times and that these constant references detracted from the actual content at times. I also am not a fan of the constant joking in the text, especially when it comes in the middle of important content, but that just comes with the Dummies books I guess. If you can filter that out though, then I think this is a good introduction to basic economics and I got what I wanted from it.

32 of 32 people found the following review helpful:

5.0 out of 5 stars Awesome: Easy to read and a great review., November 4, 2006

By	Dr. John A. Hamel V "Gas Man" (Kensington, MD USA) - See all my reviews (REAL NAME)

I took an economics course back in college in 1990. Even though I did get an A on the course, I had forgotten most of the concepts. I read this book for fun reading and as a life long learning refresher. Since it has been 16 years since I read an economics book, I cannot compare this book to other books. However, I thought that the book was easy to read and the information easy to digest.