The Basics of Economics

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Economics is often viewed as the 'dismal science,' a dry subject with few ready applications to the real world. This concise reference work examines the history of economic thought and the dynamic people and movements that shaped the economic landscape of the world, past and present. It chronicles the rise of modern capitalism and the other -isms, e.g., democratic socialism, communism, and fascism. It explores the expansion of business enterprise and countervailing forces such as the consumer movement and the labour movement. It delves into the world of finance, savings and investment, and the incentives that drive economic activity. It demystifies the complexities of the macroeconomy by explaining the process of economic growth and how governments combat the recurring problems of recession, unemployment, and inflation. It examines the globalization juggemaut, and the whirlwind of cross-border business activity that helps create enormous wealth for some, and economic distress for others. It also examines prospects for sustainable economic development and the global poverty reduction strategies underway in the global economy. The book concludes with a frank description of career opportunities in the field of economics, for academic, business, and government economists.

Reviews

[W]ill easily serve as a college-level text: it provides a fine history of the rise of modern capitalism and other economic movements, considers the evolution of the business world from local to global, and examines world finance, savings institutions and investments to probe the roots of economic trends and activities. Excellent and in-depth, Basics of Economics is not to be missed.-MBR Internet Bookwatch/The Bookwatch
"Will easily serve as a college-level text: it provides a fine history of the rise of modern capitalism and other economic movements, considers the evolution of the business world from local to global, and examines world finance, savings institutions and investments to probe the roots of economic trends and activities. Excellent and in-depth, Basics of Economics is not to be missed."-MBR Internet Bookwatch/The Bookwatch
"[W]ill easily serve as a college-level text: it provides a fine history of the rise of modern capitalism and other economic movements, considers the evolution of the business world from local to global, and examines world finance, savings institutions and investments to probe the roots of economic trends and activities. Excellent and in-depth, Basics of Economics is not to be missed."-MBR Internet Bookwatch/The Bookwatch

Author Bio

DAVID E. O'CONNOR is a nationally recognized economics teacher at the Edwin O. Smith High School in Storrs, Connecticut. He has also served as a College Board Consultant in Economics, President of the Connecticut Council for Social Studies, and Instructor at the Taft Summer Institute for Teachers. He has conducted over 100 teacher workshops and written 18 books and teacher's manuals in the fields of economics, ethnic history, and world history, including Basic Economic Principles (Greenwood, 2000), Demystifying the Global Economy (Greenwood, 2002), and The Basics of Economics (Greenwood, 2004).