Lessons for the Young Economist
It's the young adult's duty to learn basic economics. Why? Because we live in a society with an activist government. Beyond that, it's an interesting study and will help you make decisions in your personal and professional life. If those sound like compelling reasons, then you're ready for this book. If you don't really understand those reasons, then you need this book. A beginning textbook for classical, Austrian economics, the course has four parts: foundations, an examination of Capitalism (a market economy), the theory and history of Socialism, and the realities of Interventionism (a mixed economy). The author considers these topics important and foundational even though they are not always covered in an economics text. However, along the way, all the topics you would expect are explored: economic thinking; private property; division of labor/specialization; entrepreneurship; income, savings, and investment; supply/demand; profit/loss accounting; stock market; price controls; taxes; inflation; government debt; and the business cycle. Each chapter concludes with a lesson recap, listing of new terms, and a set of study questions. There is an excellent glossary. 412 pgs, hc.
The Teacher's Manual follows the student text and features historical context, additional web links for the teacher, relationships between concepts in the text and terms found in mainstream economics textbooks, answers to the study questions, suggestions for additional study materials, sample tests and suggested activities.
The author wrote this program with junior high students in mind, but it is applicable for younger advanced students or even for adults who never got a solid grounding in free-market economic principles. ~ Janice