Book Review: So You Want to Know About Economics

At ekdali, we firmly believe that simplifying tough concepts is tougher than it looks. It takes a huge depth of understanding of a subject to present it in a simple way! “ So You Want to Know About Economics” manages to do just that.  Economics is a complicated subject with an image of being one of the most boring ones to read to. This book manages to make it simple and interesting.

 

The Books is Split into three chapters. The first chapter talks about the pre – economics world. While it starts from Barter system, the chapter beautifully touches upon the colonial history of the world and its philosophy of economy. It then talks about. Adam Smith’s Philosophy – the good, bad and ugly of it is discussed at length. There is an illustration on “ Flow of Money” in this chapter, which is so good that one can buy the whole book just for this one!

 

The second chapter deals with macroeconomics. How the Government makes money? What it spends it on? What do some of the terms such as Black Money, Demonetization, and Spectrum Auction mean? Liberalization and the rationale behind it explained in simple relatable terms. Inflation is explained with the example of a mango merchant; this can be slightly confusing to the younger kids. Dollar Exchange rate builds up from the concept of inflation next.

 

The last chapter on microeconomics, starts with a lemonade stall and uses that example to explain many of its concepts. There is a side note on why wearing seat belts cause more accidents (That was revelation ) and it is supported by theory. Mechanism of saving and how banks work is very neatly depicted too.

 

We would recommend this book for 11 + year olds. This book can be read 10 to 20 pages at time and would take about 2 to 3 months to complete, without becoming too heavy

 
Educational Value : 5
 
Age Band - broad band : 11+ Years

Publisher :Rupa Publications

Author : Roopa Pai

Illustrator: Mohit Suneja
 
Cover Design: Mughda Sadhwani  ( really cute design)