Title: A Kid's Guide to the Economy
Author: Tamra Orr
Publisher: Mitchell Lane
Concepts: supply and demand, markets, prices, business cycle, unemployment, inflation, competition
Review: Just about every state has content standards beginning in kindergarten covering important concepts in economics. These content requirements, together with the media attention paid to the importance of financial literacy, have led to a greater need for books that will help children to become more informed about the economic world around them. The new book series Money Matters: A Kid’s Guide to Money helps to fill a niche in this literature.
One of the books in the series, A Kid’s Guide to the Economy, offers students a crash course in some of the most important concepts of micro and macroeconomics. Examples include the production of goods and services in a national economy, the role of competition in setting market prices, how waves of economic expansion and recession follow each other in the business cycle, and how downturns result in hardships for families such as unemployment and foreclosure. Some of these topics are not covered in school mandates until the high school grades and others in the middle grades, so the book’s target audience definitely reaches beyond younger learners. They will gain a broad overview of the functioning of the marketplace and will be prepared for a more intensive treatment in subsequent economics lessons.
Review by: Rutgers University Project on Economics and Children