Principles of Economics - Everything You Need to Know About Economics

Author: Alfred Mill

Do you have preconceived notions about economics? Do you want to know how the economy works, but find yourself falling asleep? Do you want to learn more, but lose interest due to the complex and technical language used in economics, and "all this talk about money"? Through this book, you will realize that economics is not boring. In fact, you will find that exploring this subject will make you look at the world around you in ways you had never considered before; economics allows you to find connections between seemingly disparate things, such as the unemployment rate and the family patriarch's tendency to change his underwear. Here, you will better understand the world. When interest rates change, you will be able to predict the repercussions. The important discussion of stocks, bonds, mutual funds, and collateralized debt obligations will no longer be incomprehensible mumbo-jumbo. While this is not a book about personal finance, the principles of economics it offers will help you manage your financial affairs. In economics, expectations become reality, and money becomes a mere social construct. This is not boring; it's incredibly exciting! After you finish reading this book, you will become familiar with concepts such as the paradox of marginal utility, and everyone's new favorite concept, quantitative easing; you will even love them. Pondering these ideas in your mind will help you gain a better understanding of the economy around you, and why people behave the way we see them do in financial matters (hint: it's not always rational!). You can also benefit from the information in this book by convincing your boss of ways to control variable costs and maximize profits. Terms like exchange rates and savings flows will become incredibly easy for you, and capital and investment will take on a whole new meaning. Creating a Consumer Price Index (CPI) and adjusting nominal GDP will become second nature to you, and a relative who lives in a van and plays the guitar will be excited when you explain to them why they are not technically unemployed.