Understanding Economics presents an interesting and accessible introduction to key economic ideas. The book clearly shows the relevance of economics to everyday situations. Examples are drawn from the internal workings of households, business firms and non-profit organizations. The book is user friendly in both style and content and requires no prior knowledge of economics and minimal mathematics.
Part I - Basic Concepts 1. Introduction 2.Scarcity, Choice and Time 3. Specialisation, Exchange and Uncertainty 4. Law, Custom and Money 5.Markets, Prices and Allocation 6.Government, Pricing and Non-Market Allocation Part II - The Economics of Organizations 7. The Household 8.The Business Firm I 9. The Business Firm II 10. Non-Profit `Firms' Part III - Investment, Risk and Uncertainty 11. Investment 12. Risk and Uncertainty 13. Investment in non-profits 14. Investment in People