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How the economy works

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SteMiS
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How the economy works

#13649

Postby SteMiS » December 9th, 2016, 1:05 pm

I'm looking for some relative straightforward background articles about economics and how the economy works for my son who is doing economics GCSE if anyone sees any.....cheers.

coleyfish
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Re: How the economy works

#13654

Postby coleyfish » December 9th, 2016, 1:18 pm

Hi SteMiS

You could try this.http://www.researchandmarkets.com/repor ... conomy.pdf

Written by a journalist which has its drawbacks, but it is more engaging for it and at this stage may just be the perfect balance for your son.

Coleyfish

redsturgeon
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Re: How the economy works

#13662

Postby redsturgeon » December 9th, 2016, 1:38 pm


BrianCaltox
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Re: How the economy works

#13696

Postby BrianCaltox » December 9th, 2016, 3:39 pm

SteMiS wrote:I'm looking for some relative straightforward background articles about economics and how the economy works for my son who is doing economics GCSE if anyone sees any.....cheers.


I found this book really informative and enlightening, and very easy to read.

https://www.amazon.co.uk/Ouch-Ignorance ... +economics

However, it could ruin his life.

SteMiS
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Re: How the economy works

#13711

Postby SteMiS » December 9th, 2016, 4:17 pm

BrianCaltox wrote:However, it could ruin his life.

At the moment I'll just settle for an A* in his economics GCSE...lol

Thanks for all the sugggestions. I'll have a look.

Vision25
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Re: How the economy works

#13995

Postby Vision25 » December 10th, 2016, 6:36 pm

SteMiS wrote:I'm looking for some relative straightforward background articles about economics and how the economy works for my son who is doing economics GCSE if anyone sees any.....cheers.


I suggest "Economics in One Lesson" by Henry Hazlitt.

Your son will really understand economics but this might be a hindrance to passing his gcse.

Vision25

paulnumbers
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Re: How the economy works

#14008

Postby paulnumbers » December 10th, 2016, 9:13 pm

SteMiS wrote:I'm looking for some relative straightforward background articles about economics and how the economy works for my son who is doing economics GCSE if anyone sees any.....cheers.


How about the 10 part TV series "Free to Choose" by Milton Friedman?

https://www.youtube.com/results?search_ ... +to+choose

stewamax
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Re: How the economy works

#19792

Postby stewamax » January 3rd, 2017, 7:20 pm

Remember, however, the old chestnut about the Economics lecturer who set the same exam questions two years in a row. When tasked about this, he replied "The questions may be the same but the answers are now different"

bionichamster
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Re: How the economy works

#20211

Postby bionichamster » January 5th, 2017, 8:25 am

stewamax wrote:Remember, however, the old chestnut about the Economics lecturer who set the same exam questions two years in a row. When tasked about this, he replied "The questions may be the same but the answers are now different"

For which there may be a very good reason... As Keynes was reported to say:

When the facts change, I change my mind. What do you do, sir?

PrincessB
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Re: How the economy works

#20951

Postby PrincessB » January 7th, 2017, 3:46 pm

Have a look at this - A 70 year old water powered computer computer designed to simulate the British economy.

https://en.wikipedia.org/wiki/MONIAC

There are other pages and videos to be found using the search 'moniac', there are a few of these machines dotted here and there around the world including one in the Science Museum in London.

Regards,

B.

Urbandreamer
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Re: How the economy works

#21220

Postby Urbandreamer » January 8th, 2017, 3:46 pm

There is actually a huge amount of "fun" stuff about economic ideas available.

From the currently running BBC radio series "50 things that made the modern economy"
http://www.bbc.co.uk/programmes/p04b1g3c
Through the BBC series "Elements" Which explains how elements are extracted and the part that they play in the modern economy.
http://www.bbc.co.uk/programmes/p01rcrn ... /downloads
Then there's econtalk (thanks PB for recommending it years ago)
http://econtalk.org/

Finally, re the fluidic computer :- this may be of interest (though it's not about economics)
https://grantvillegazette.com/wp/article/publish-382/

There are some interesting fictional short stories in the 1632/grantville universe that both explain ecconomic ideas and revolve around them.
ie
https://en.wikipedia.org/wiki/The_Grant ... _Circle.22
.. one girl has a dinner conversation involving "Federal Reserve [Bank] Fairies", who magically make more money and regulate the economy.


I'm not involved and recieve no benefit, but if you are interested the publisher allowes you to read the first few chapters of the story in "The Barbie consortium" to decide if you want to spend any money. Here's a link.
http://www.baen.com/Chapters/9781625793 ... 793584.htm

PrincessB
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Re: How the economy works

#21232

Postby PrincessB » January 8th, 2017, 4:09 pm

Then there's econtalk (thanks PB for recommending it years ago)
http://econtalk.org/


Hi Urbandreamer,

Thank you, one of the most enjoyable parts of participating on these boards is to enhance the life of someone else on occasion.

I've found the NPR Planet Money podcast an essential listen. Much lighter than econtalk which can go on a bit.

http://www.npr.org/sections/money/

Youtube has the Keynes vs. Hayek Rap Battle videos parts one and two which are the best rap I've ever listened to.

Regards,

B.

Snowbadger
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Re: How the economy works

#28598

Postby Snowbadger » February 3rd, 2017, 1:15 am

Just spotted the reference to OUCH. I know Paul and his experience as a gold bug has been far from profitable so far. He spends most of his time praying for Armegedon and the four horses of the apocalypse to rescue him from the positions he has in the yellow metal. Perhaps the US president may come up Trumps for him. Hardly good economics advice for the YOOF.

Urbandreamer
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Re: How the economy works

#28654

Postby Urbandreamer » February 3rd, 2017, 10:16 am

Snowbadger wrote:Just spotted the reference to OUCH. I know Paul and his experience as a gold bug has been far from profitable so far. He spends most of his time praying for Armegedon and the four horses of the apocalypse to rescue him from the positions he has in the yellow metal. Perhaps the US president may come up Trumps for him. Hardly good economics advice for the YOOF.


I can't comment upon the book or the validity of the theorys in it, however I would really hesitate to draw conclusions about knowledge of economic theory based upon investment performance. Economics is a theory about why we do stuff. I can only assume that the linkage to investment came about with Keynes.

Economists have different theorys and ecconomic history shows that economic life is not a narrow path. Cultural mores effect economic behaviour.

Free trade may allow the invisible hand to reduce costs increasing the wealth of all, or do we adopt a mercantile approach where we regard wealth to be a pot with a fixed size and attempt to increase our wealth by increasing our share? We know Mr Trumps stance.

Ps I'm currently working my way through this book (as an audiobook) and can certainly recommed it.
http://www.goodreads.com/book/show/3157 ... since-1400
It ISN'T how "the economy works" but how it use to work at different times in different places.

melonfool
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Re: How the economy works

#28661

Postby melonfool » February 3rd, 2017, 10:31 am

(Not read the thread but just adding:)

Freakonomics is good, and a light-hearted, way to understand economics and how it affects day to day life. I think there are two or three books now.

Similarly More or Less podcasts from R4 are fab.

Mel

melonfool
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Re: How the economy works

#28662

Postby melonfool » February 3rd, 2017, 10:33 am

And this, maybe a bit out of date now, but worth reading:

https://www.amazon.co.uk/dp/B00546DPB6/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1

Mel


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