Gross domestic product, business cycles, Consumer Price Index, prime rate, terms we read in the newspapers but possibly don't fully comprehend. With humor, clarity, and a deft touch for simplifying complex ideas, Jacob De Rooy explains the basic concepts of economics in language anyone can understand. Written in accessible question-and-answer format, and divided into 26 concise articles, the book can be used in two ways: read straight through as a short course in economics, or dipped into as a reference work. Throughout the text, anecdotal examples illustrate economic ideas in real-life terms. For anyone involved in the world of business, Economic Literacy will be an invaluable companion.
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For those who still wonder at the "fairness" of charging interest for the use of money, the justification is nicely explained here. DeRooy, a director at Pennsylvania State University's School of Business Administration, explains all those economic concepts cited in the media with which readers may not be completely comfortable. He uses a question-and-answer format, loosely arranged in 26 articles, and illustrates many concepts more fully with personal vignettes. Easily read from cover to cover, this book can also be used as a reference tool; the index directs one to various terms that are boldfaced in the text, with summary explanations italicized and related articles indicated with a pointer. Despite the reputation of economics as the "dismal science," DeRooy has written a useful, gently humorous work that won't scare off the number-shy with an overabundance of statistics. Public libraries should welcome this.?Alex Wenner, Indiana Univ. Libs., Bloomington
Copyright 1995 Reed Business Information, Inc.
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