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So You Want to Know About Economics
'If you never had the time to plow through dreary Economics textbooks, but still want a flavour of its key concepts, illustrated with examples from daily life, this is the book for you.'-Raghuram Rajan, former Governor, Reserve Bank of India Why doesn't the government simply print more money so that everyone has enough? Who decides that seventy Indian rupees equal one American dollar? How do you figure out what to price a glass of lemonade at the Diwali mela? Are economists really as boring as they look? For answers to these and other mystifying questions, look no further than this fun book! (Psst! You may even catch your adults sneaking a peek inside!)
- GenresEconomicsNonfictionIndia
172 pages, Paperback
First published February 1, 2017
194 people are currently reading
385 people want to read
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Displaying 1 - 30 of 97 reviews
June 6, 2017
To all those engineers who didn't pay enough attention during their B-school microeco lectures, this is an easier way to feel redeemed. To everyone else, the book illustrates economics using tools that we may otherwise ignore in our daily life. As our reverential Raghuram Rajan neatly put, "This book is an irreverent take on economics".
July 9, 2017
Simply amazing.
Wow! What an excellent but simple way to define the gamut of Economics. Thanks to Roopa Pai for writing such a great book. Congrats.
Wow! What an excellent but simple way to define the gamut of Economics. Thanks to Roopa Pai for writing such a great book. Congrats.
October 10, 2022
Thanks Roopa Ma'am for explaining some of the complex economics concepts with such lucidity and practical illustrations. Second serving coming?
Yours sincerely,
A 25-years-too-old student of yours
Yours sincerely,
A 25-years-too-old student of yours
April 9, 2022
I received this book as a gift, and after I looked at the title I was completely hooked on it. As soon as I started reading the book the author interested me with topics that I could relate to, such as lemonade stands and burgers, like big Macs, or Maharaja Macs. She talks about different prices depending on the economy. She uses real-life examples, such as fake countries called Desh and Videsh to show how countries trade, how stores can sell things at different prices, and how customers choose the right store. She also organizes her work well using bullet points and frequently asked questions. She also talks about reserve currency, like the US dollar. She discusses how governments do not print infinite money. Producers should price their objects at less to get their customers to buy more of the product. For example on pages 82-87, they show how a man named Alfonso sold his mangoes at different prices but each person only gets Rs.100 so he has to price his mangoes at less if he wants to get his customers to buy more. When he tried to sell his mangoes for Rs. 60 he did not get many sales, but when he priced mangoes at Rs. 32 he sold every one of his boxes. The book also talks about the basket of goods and services, which are the goods and services that are most sold for example use of food and beverages are the most sold items in the basket of goods according to the consumer price index. They also talk about the laws of supply and demand so for example if I want to sell a glass of lemonade, I would have to account for 1) how much supply I have, 2) the demand of how many people want to buy lemonade, 3) the quantity or how much lemonade is available, and 4) the perceived value of the lemonade.
The book talks about how banks make money - they take the money you deposit in the bank but then give it back with interest. For example, when you borrow money from the bank, or when the bank lends you money, you have to pay a borrowing fee. When the bank lends your money to other people they have to pay a borrowing fee to you which we call interest.
Overall, it was enlightening to learn about economics and money.
The book talks about how banks make money - they take the money you deposit in the bank but then give it back with interest. For example, when you borrow money from the bank, or when the bank lends you money, you have to pay a borrowing fee. When the bank lends your money to other people they have to pay a borrowing fee to you which we call interest.
Overall, it was enlightening to learn about economics and money.
October 4, 2022
Review ✍️:
👉 A very and nice read, took me less than 2 hours to finish the book.
👉 Book deals with some very basic micro and macro economics concepts with ease.
👉 Lots of daily life examples are given to make it relatable and easier to get through.
👉 Each and every person should read it because, this small book will teach you lots of things you need to know while living in this country, like why govt. doesn't print endless money, why value of currency vary, what and why is inflation, etc.
👉 Students from business and commerce field like me can skip the book because they have already studied same concepts in schools.
4/5 ⭐
👉 A very and nice read, took me less than 2 hours to finish the book.
👉 Book deals with some very basic micro and macro economics concepts with ease.
👉 Lots of daily life examples are given to make it relatable and easier to get through.
👉 Each and every person should read it because, this small book will teach you lots of things you need to know while living in this country, like why govt. doesn't print endless money, why value of currency vary, what and why is inflation, etc.
👉 Students from business and commerce field like me can skip the book because they have already studied same concepts in schools.
4/5 ⭐
January 11, 2022
Hahahahahahahaha... finally finished. No longer will this book remain on my table unread and no longer will my brother sneer every time he notices his beloved present which he had painstakingly chosen lying there. All in all, a lovely introduction to economics.
April 5, 2021
Though, I had idea of basic Economics in my early 20's but with the passage of time, soil had been settled on memory and forgot everything. This book was quick refresher and even had better examples of explaining and arising curiosity in Economics and that too like a children book.
I, not only loved it but even got to know some new things from this book as well.
Short, sweet and simple.
I, not only loved it but even got to know some new things from this book as well.
Short, sweet and simple.
December 8, 2019
I really liked the book and wish something like this was available to me when I was a kid. As a school going kid I was more interested in Geography and History than in Economics, for the simple reason that I wasn't made aware of the gravity of this ever ubiquitous science. I read it in a dry sort of way, understanding it but never really treating as the most important part of the social sciences. I am gonna gift this book to many kids.
I read this more because of an endorsement by Dr. Raghuram Rajan. If he, a bright economist found it interesting surely I can also learn a lot, was my reasoning. There are many things one knows if one really paid good attention during his/her schooling. There are also many things which we knew but forgot as our careers in Engineering progressed and also a few things which were new to me. Even adults can find it interesting if you read the first chapter patiently which can push you away as it mostly contains the stuff we mostly know. Also I felt that this book was inspired, a little, from the book Naked Economics by Charles Wheelan.
There is something in this book in the Acknowledgements, towards the end of the book that I liked more than the book itself. I'm reproducing that here as it is:
I liked the illustrations and wish there were more, as there are ample opportunities for the same. As a final note, you won't regret reading this, unless you're an Economics major, in which case you might be bored to death.
I read this more because of an endorsement by Dr. Raghuram Rajan. If he, a bright economist found it interesting surely I can also learn a lot, was my reasoning. There are many things one knows if one really paid good attention during his/her schooling. There are also many things which we knew but forgot as our careers in Engineering progressed and also a few things which were new to me. Even adults can find it interesting if you read the first chapter patiently which can push you away as it mostly contains the stuff we mostly know. Also I felt that this book was inspired, a little, from the book Naked Economics by Charles Wheelan.
There is something in this book in the Acknowledgements, towards the end of the book that I liked more than the book itself. I'm reproducing that here as it is:
'Dr Raghuram Rajan, former governor of the Reserve Bank of India, who actually responded, within the hour, while he was still RBI governor, to a cold-call email sent to his @rbigovernor.in address, saying he would not mind taking a look at the manuscript of this book. Within the next ten days, he had done so, and even sent in a warm endorsement of it. Which goes to prove, yet again, that the busiest, most talented people are often the nicest, most efficient ones too.'
I liked the illustrations and wish there were more, as there are ample opportunities for the same. As a final note, you won't regret reading this, unless you're an Economics major, in which case you might be bored to death.
January 29, 2022
4 stars
Despite of being from finance background; I must admit economics is something I have always found on a tricky side. I don't remember revisiting this subject after my CA days and thought to give a try to this book; which turned out to be a good decision. First of all, I'll say kudos to Roopa Pai for decoding a complex subject in such a simple manner. Though this book gives a basic about economics I think Roopa has done a great job on it. She has explained the concepts more from day to day perspective so the reader can connect the dots. I enjoyed reading this book as it has covered the basic and important concepts of economics in simple manner. Will recommend this book to someone who wants to understand and know what economics is all about.
Despite of being from finance background; I must admit economics is something I have always found on a tricky side. I don't remember revisiting this subject after my CA days and thought to give a try to this book; which turned out to be a good decision. First of all, I'll say kudos to Roopa Pai for decoding a complex subject in such a simple manner. Though this book gives a basic about economics I think Roopa has done a great job on it. She has explained the concepts more from day to day perspective so the reader can connect the dots. I enjoyed reading this book as it has covered the basic and important concepts of economics in simple manner. Will recommend this book to someone who wants to understand and know what economics is all about.
March 10, 2019
I had neither got much chance nor good teachers to study Economics in earlier stages of my life. Later, I tried to cover it by the books of competition preparation. Quite fat, fat books, but that was also of not much help to provoke my interest in this subject. This small books defines very well some basic concepts in easy language and style like a mom teaching her 10 year old kid.
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Don't take it as a serious book to delve into it, but enjoy the way of explanation. It's really good for beginners.
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Don't take it as a serious book to delve into it, but enjoy the way of explanation. It's really good for beginners.
January 10, 2019
3.5 stars - Narrative style mainly focused for Kids. Quite a few Interesting concepts explained with much ease. Fantastic portray of trade origin(Constantinople, silk route etc.), Indian economics, history behind it and it's political Influence - well connected dots. Must read for kids :)
October 29, 2022
It tells about economics in a humorous way. Recommending to anyone who hasn't known so much of economics. The author has really put into a very good understanding that any non-economist can understand it.
August 14, 2020
Thank you, Roopa for helping me to teach my students in the best way.
March 14, 2021
An excellent book for beginners in the subject. Pai uses simple jargon-free language to communicate concepts of Economics to her target audience: children.
For adults who are well-versed in the subject, there is no value-addition. Unlike Pai's 'The Gita for Children' which can be enjoyed by adults too, this one had no meat. The concepts are just scratched on the surface. The author even acknowledges this absence of detail twice, but that does not absolve her of her duty to delve deep into the subject.
Pick it only if you know nothing at all about Economics or if you want this for your child.
For adults who are well-versed in the subject, there is no value-addition. Unlike Pai's 'The Gita for Children' which can be enjoyed by adults too, this one had no meat. The concepts are just scratched on the surface. The author even acknowledges this absence of detail twice, but that does not absolve her of her duty to delve deep into the subject.
Pick it only if you know nothing at all about Economics or if you want this for your child.
August 7, 2020
So everyone should know the basics of economics and this book perfectly serves it's purpose. It will give you very basic knowledge which no NCERT Book will cover.
May 16, 2017
Money can't buy you happiness, but it can do a ton of other cool stuff- a fun illustration on the second page of the first chapter, in a nutshell explains the reason why one must learn economics. The book is divided into the following sections-
a) History of the world before Economics
and opinion on
b) Macroeconomics
The book explains concepts starting from the origin of economics in its most basic format of barter system to the current hot topics like deomonetisation and uses several illustrations, jargon boxes, using live examples to explain concepts like selling lemonade and the value attached to it. The approach the author has taken is that of story telling- it feels as if she is talking to the reader in person and explaining the concept in a class.
My Opinion
I try to teach my children about money. I tell them if I pay for a book through my credit card, a book for which they intended to pay, then the cash in their wallet becomes mine. But they smartly say- all these years you never gave our money (meaning cash from doting relatives) to us so why would we honour our word. Every week, I allocate a sum of Rs 100 to the children to spend in the canteen. They have a unique way of extending that money's worth- by offering a small piece of the goodies to their friends. who in turn return the favour some other day of the week. The children have surely learnt how to make the rupees stretch and the time indeed was ripe to show them how the concept of money and economy has evolved over a period of time.
Roopa Pai's book comes at the right time for my children. I read them the book, a few pages every alternate night at bedtime and they listened with rapt attention, showering me with questions.
They could relate to the ancient era money as they had learned the same in History in civilization lessons. The two connected- wow!
The beauty of the book is that we carried on our own discussions as we progressed with the book and read respective topics We discussed about demonetisation as the book spoke about it. We discussed the spice and cocoa diplomacy which incidentally coincided with their lesson on Africa in which cocoa is a major crop. And there was geography connecting into economics too and they could relate as they learned about economy of Africa and Australia in their lessons.
I loved the way mercantilists and Adam Smith's concept is debated through word bubbles. And as we moved along, we learned several new words and concepts.
We learned several terms like GDP, Demand-Supply, Intrinsic value etc through the simple concept of a lemonade stall. And somehow, the concept connects to branding and equity and that is why the book is even more interesting. It doesn't deal with the topic in isolation but teaches children to laterally think and connect their learning.
Readometer- Lucid and interesting way to teach children about history of economics
Cover - I loved the white background and the mish-mash of pictures that ina nutshell describes the contents of the book. It could be a good ice-breaker when one reads the book to the children. I recommend it is read to the children as then children can understand better.
a) History of the world before Economics
and opinion on
b) Macroeconomics
The book explains concepts starting from the origin of economics in its most basic format of barter system to the current hot topics like deomonetisation and uses several illustrations, jargon boxes, using live examples to explain concepts like selling lemonade and the value attached to it. The approach the author has taken is that of story telling- it feels as if she is talking to the reader in person and explaining the concept in a class.
My Opinion
I try to teach my children about money. I tell them if I pay for a book through my credit card, a book for which they intended to pay, then the cash in their wallet becomes mine. But they smartly say- all these years you never gave our money (meaning cash from doting relatives) to us so why would we honour our word. Every week, I allocate a sum of Rs 100 to the children to spend in the canteen. They have a unique way of extending that money's worth- by offering a small piece of the goodies to their friends. who in turn return the favour some other day of the week. The children have surely learnt how to make the rupees stretch and the time indeed was ripe to show them how the concept of money and economy has evolved over a period of time.
Roopa Pai's book comes at the right time for my children. I read them the book, a few pages every alternate night at bedtime and they listened with rapt attention, showering me with questions.
They could relate to the ancient era money as they had learned the same in History in civilization lessons. The two connected- wow!
The beauty of the book is that we carried on our own discussions as we progressed with the book and read respective topics We discussed about demonetisation as the book spoke about it. We discussed the spice and cocoa diplomacy which incidentally coincided with their lesson on Africa in which cocoa is a major crop. And there was geography connecting into economics too and they could relate as they learned about economy of Africa and Australia in their lessons.
I loved the way mercantilists and Adam Smith's concept is debated through word bubbles. And as we moved along, we learned several new words and concepts.
We learned several terms like GDP, Demand-Supply, Intrinsic value etc through the simple concept of a lemonade stall. And somehow, the concept connects to branding and equity and that is why the book is even more interesting. It doesn't deal with the topic in isolation but teaches children to laterally think and connect their learning.
Readometer- Lucid and interesting way to teach children about history of economics
Cover - I loved the white background and the mish-mash of pictures that ina nutshell describes the contents of the book. It could be a good ice-breaker when one reads the book to the children. I recommend it is read to the children as then children can understand better.
June 21, 2021
A very easy to read book on economics.
All the major concepts of economics are explained with such simple examples to understand.
A book that can be read by a school-going kid as well by a working professional with equal ease.
All the major concepts of economics are explained with such simple examples to understand.
A book that can be read by a school-going kid as well by a working professional with equal ease.
July 3, 2017
Amazing book for anyone trying to develop an interest in Economics starting from a zero, or just as a book the answers money related questions you have surely wondered about at some point. Concepts are explained with simple examples and in an easy, understandable language. Definitely recommended!
February 7, 2018
A great introductory book for anyone interested in the subject. It is filled with examples that are practical, interesting, applicable to the Indian context, and often funny. If you, like me, have attempted loftier books without success, this one will not disappoint you.
May 13, 2018
A nice and playful way to learn terms of economics. The book is especially written for children and it does justify the purpose but as a grown up it became a lil boring for me. However I would recommend every parent to get the book for their kids.
May 17, 2017
great book answering questions in a way that a noobie can understand.
October 22, 2018
Opening Sentence: Let’s begin with a quick flashback to 2 million years ago, when the first human (or maybe she was the fifty-ninth) walked jauntily out of her cave, swinging a stick she had just found.
For those of you who might be wondering, “Why should I read about ‘ECONOMICS’? I don’t have any interest in it!”. Well, this would be the first answer that you’re gonna get off this book.
For now, I can just say that Economics is important because it is really the study of how the world thinks and works! See, economists are really psychologists in disguise-they have looked into the deepest, darkest recesses of the human heart and discovered that all of us are essentially selfish beings at the core.
This book has all the ingredients that are enough to dazzle you.
Graphics (Well, we have to make Economics fun, ain’t we?)
Not a lot of number of pages (158 only)
Answers of the questions likes:
1. We have millions of really poor people in our country. Why doesn’t the government simply print more money so that everyone has some?
2. How come my parents never ate a Maharaja Mac in India when they were my age?
3. How come one Indian rupee is only worth about 1.4 US cents? Who’s the guy who decides this stuff?
4. And a lot like these!
It makes you understand those difficult Economic terms like fiscal deficit, CPI, PPP GDP, price inelastic, Bandwagon effect, Snob effect and a lot more!
This is easy to read. I mean you can give this book to a 15-year-old, and he won’t complain! (It’s that easy to read) Also, the way the author has written the book, trust me it was never that fun to read Economics.
At last, I would say that it’s a must-read and it is amongst those few books that will make you smarter! 😉
For those of you who might be wondering, “Why should I read about ‘ECONOMICS’? I don’t have any interest in it!”. Well, this would be the first answer that you’re gonna get off this book.
For now, I can just say that Economics is important because it is really the study of how the world thinks and works! See, economists are really psychologists in disguise-they have looked into the deepest, darkest recesses of the human heart and discovered that all of us are essentially selfish beings at the core.
This book has all the ingredients that are enough to dazzle you.
Graphics (Well, we have to make Economics fun, ain’t we?)
Not a lot of number of pages (158 only)
Answers of the questions likes:
1. We have millions of really poor people in our country. Why doesn’t the government simply print more money so that everyone has some?
2. How come my parents never ate a Maharaja Mac in India when they were my age?
3. How come one Indian rupee is only worth about 1.4 US cents? Who’s the guy who decides this stuff?
4. And a lot like these!
It makes you understand those difficult Economic terms like fiscal deficit, CPI, PPP GDP, price inelastic, Bandwagon effect, Snob effect and a lot more!
This is easy to read. I mean you can give this book to a 15-year-old, and he won’t complain! (It’s that easy to read) Also, the way the author has written the book, trust me it was never that fun to read Economics.
At last, I would say that it’s a must-read and it is amongst those few books that will make you smarter! 😉
March 31, 2025
I regret not reading this book sooner—it had been sitting on my shelf for years! If I had read it earlier, I would have encouraged many others not to miss out on this wonderful read. But as they say, better late than never!
Roopa has done an amazing job of simplifying economics in an easy-to-understand way. The examples provided make concepts like inflation, money, banking, and trade easy to remember.
The sections "Bet you didn’t know that" and "Learn the Lingo" kept me engaged and eager to explore more insights on these topics.
I also loved the illustrations—they add so much to the learning experience!
This book is a fantastic introduction to economics, especially for kids stepping into this world for the first time.
Roopa has done an amazing job of simplifying economics in an easy-to-understand way. The examples provided make concepts like inflation, money, banking, and trade easy to remember.
The sections "Bet you didn’t know that" and "Learn the Lingo" kept me engaged and eager to explore more insights on these topics.
I also loved the illustrations—they add so much to the learning experience!
This book is a fantastic introduction to economics, especially for kids stepping into this world for the first time.
March 3, 2018
From the lingos of economics to the different concepts of micro and macro economics is covered in the book so you want to know about economics..
Our young children have every right to know about the economy of our country but we often find it difficult to get our points across, this book has brilliantly explained everything
How several changes came in the economy of the country, how trading started?
How children can learn to make small business?
#fiscaldeficit #profit #blackmoney #economy #educationalbooks #youngreaders
Our young children have every right to know about the economy of our country but we often find it difficult to get our points across, this book has brilliantly explained everything
How several changes came in the economy of the country, how trading started?
How children can learn to make small business?
#fiscaldeficit #profit #blackmoney #economy #educationalbooks #youngreaders
September 16, 2021
What a beautiful book. Excellent illustrations, easy to relate example from our regular life, nice story telling. It seems I was waiting for this book for a long time. Economics was a very dry subject to me and I never love that, but after this book I really start realising how the economics are integral part of my life and how the things can be interpret in daily life. Thank you so much Roopa Pai for putting the economics in such as simplest language and now I will be start reading those referred books on economics. I'll say it is a must read for everybody and good read for teens.
July 17, 2017
Wow!! What an amazing book! It's designed mainly for the kids. However, anybody who's interested about the environment can grab this book. I learned a lot of things from the book (some of the content was like a refresher).
I picked a couple of things as action items (e.g., decomposing kitchen waste at home, using bigger packets for groceries, etc.). I also jotted down a bunch of ideas, and presented them to my colleagues. I am glad to see some of them act on the ideas as well.
I picked a couple of things as action items (e.g., decomposing kitchen waste at home, using bigger packets for groceries, etc.). I also jotted down a bunch of ideas, and presented them to my colleagues. I am glad to see some of them act on the ideas as well.
March 4, 2018
Such a quirky book! Which explains why it's marketed as something kids and young adults will enjoy. The demographic of readers can also easily include people like me, who want to learn economics but are too intimidated by the huge volumes that they sell as textbooks for beginners. Though the textbooks are unavoidable, starting out with this book will make the forage into the subject a little more pleasant.
March 10, 2020
This book is not only meant for kids but can also be used by adults looking for a light read on economics. I am yet to read the famous "Freakonomics" but I am sure this book has certainly piqued my interest in economics. It encompasses many academically heavy concepts into laymen terms for readers. I would suggest this from any adult looking for a starter on economics to Students in school in between ages 11-15 years.
April 6, 2021
This book is an excellent effort to introduce the subject of economics to children who're completely unaware of what it is. It is an easygoing book with a lot to know out there! The introduction itself sets in you an endeavor to explore the subject and it just can't get more exciting. It surely is a pleasant read not just for children, but for anyone out there wanting to understand the concepts of economics. So grab your copy and a couch and begin!
August 18, 2022
It's a wonderful book for every person who has no knowledge about economics and who want to know about it in a layman's term. 7 years back I didn't even know what GDP actually is and I read NCERT again to get my lost memory back. I wonder I had this book at that time to make my learning journey easy. This book explains everything with diagram, scenario and examples from real life which is the best way we can learn things. Please do read this book if you want to be an aware citizen.
Displaying 1 - 30 of 97 reviews