I just finished reading a Consise Guide to Macroeconomics by David A Moss. I had procrastinated on reading it for a while because, well frankly, I didn't feel like reading about economics.
Once I started I actually read the whole thing in just two sittings. Besides being only 141 pages, the language is very clear and easy to understand.
As David Moss explains, it's basic information about macroeconomics that "managers, executives and students need to know".
There are no boring and hard to understand charts and hardly any algebra in the entire book. Moss breaks down macroeconomics into a few key points:
- Output - It's not the dollar size of the GDP that counts, it's the output and productivity per capita.
- Money - it's effect on interest rates, exchange rates and inflation
- Expectations - how human behavior can change tides
.
There's more detail than that and a good bit of history on how we, as a society, know what we know now. However, it all comes down to those three things in the end.
I think anyone that does cross-border transactions should consider reading the book. It only takes about four hours of reading time.
