Professor unveils economic theory using real-world examples

RELEASED: Oct. 26, 2006

DANVILLE, KY—Prof. David Anderson's latest book, Economics by Example, strives to take teaching economics a step further by not only explaining important concepts, but also by showing how to apply them in everyday situations.

This is an important teaching method that few economics books today incorporate, says Anderson, Paul G. Blazer associate professor of economics.

"Unlike books like Freakonomics, which unearth the provocative real-world stories but not the economics behind them, this book mingles real stories with explanations of the principles of economics, using words rather than graphs or equations, so that readers can understand the theories behind the exciting results," says Anderson.

According to the publisher's website, Worth Publishers, "This concise paperback introduces economic principles in the context of real-life applications, with much to say about how the economic way of thinking can improve students' decisions."

Anderson's book is made up of 30 chapters that address the economic lessons found in current world topics like Internet piracy and legal reform, outsourcing, environmental policy, globalization and Wal-Mart, just to name a few.

"It's my intention to bust two myths with this book. The first is that economics is all about money, and the second is that learning economics isn't fun. Economics is really about decision making in the pursuit of happiness," Anderson says. "Sections on the economics of marriage, coffee, immigration, rock bands, pharmaceuticals, crime, litigation and the environment, for example, will make readers aware of the fascinating economics all around them."

Economics by Example is not a textbook, Anderson says, but rather a supplement to any economics introduction course.

"The book is targeted to college students taking their first economics course. Since it assumes no prior economic training, it's appropriate for anyone with an interest in the field," he says. 

This book, which is available now on Amazon.com, is Anderson's seventh published work. Other topics he has explored in his books include general economics, environmental economics, dispute resolution, anger management and economic education.

Later this year, a research article by Anderson and fellow Centre professor Mykol Hamilton, H.W. Stodghill Jr. and Adele H. Stodghill professor of psychology, dealing with gender portrayals in children's books will appear in Sex Roles: A Journal of Research.

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