Simplified Real-World Economics: A Practical Guide for Managers and Small Business Owners

Small business owners, entrepreneurs, and many managers and engineers involved in the development, production, sales, marketing, or distribution of products all need a basic understanding of economics. Yet most struggle with economic concepts and are ill equipped to make good economic decisions at work or to manage their own economic lives effectively. Even many highly experienced and financially trained professionals struggle with economic concepts and how to apply them. This problem stems from the fact that the vast majority of books and courses available on economics are too heavily entrenched in complex unproven academic theory, political ideologies, and myths rather than proven historical facts. These other books also have little to no practical real-world application. Simplified Real-World Economics, by financial guru and best-selling author Michael Thomsett, dispels the myths and explains microeconomics and macroeconomics in an easy-to-understand manner. It’s supported by dozens of real-world examples from history and the author’s own first-hand experience, giving it the authenticity that too many books lack. This book is designed with the practical application of economic concepts in mind to help managers, engineers involved in product development, small business owners, and entrepreneurs make better professional decisions. In addition, it will also help readers more effectively manage their own economic lives. Key Features • Discusses economic principles and concepts without declining into the complexity or unproven academic theory found in most other books on the topic • Describes the science of economics in non-technical terms transforming a complex technical topic into a discipline that readers, and not just those seeking a degree in economics, can understand and actually use • Illustrates major economic principles as applied in the real world • Explains economics from a practical and business point of view • Provides a practical context to real-life management situations involving textbook economics • Uses recent situations in the news to demonstrate why and how business professionals need and use economics every day