Economics has often been an orphan in the world of college electives largely ignored, rarely enjoyed, and almost instantly forgotten by undergraduates. In his new book, Wheelan, a Chicago-based correspondent for the Economist, has decided to shake the dust off economics, making the case that it is not just an arcane academic science but a practical set of tools. (Library Journal) Ever wonder what it means when the Fed raises interest rates? Or why there are occasional fears of inflation? To the rescue comes this simplified and chatty nontextbook textbook. Using words rather than math, it makes economics accessible, comprehensible and appealing. Wheelan, the Economist's Midwest correspondent, breezily explains the big picture, including finance, capital markets, government institutions and more. His informal style belies the sophisticated and scholarly underpinnings of his subject. Wheelan champions the often-maligned science: "Economics should not be accessible only to the experts. The ideas are too important and too interesting." Well before book's end, highly persuasive yet simply illustrated concepts sway the reader. Complex ideas are demystified and made clear, using familiar examples, such as the price of sweatshirts at the Gap. A chapter on financial markets compares a grapefruit and ice cream fad diet with get-rich-quick schemes. (He wryly offers the mantra "Save. Invest. Repeat.") Similarly, an explanation of interest rates compares them to "rental rates," an easy- Read more... ReadMore and Download
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