Book: UNDERSTANDING ECONOMICS - The Student-Friendly Textbook by Allen W. Smith, Ph.D.categories: Book, Understanding Economics, Demystifying Economics, Simplified Economics, High School Economics, Economics
Allen W. Smith, Ph.D.about this book: Good high school textbooks, at affordable prices, are becoming harder and harder to find. In an effort to reduce costs, many schools are beginning to substitute e-book editions for the traditional print editions, but, given the large cost differential between producing print books and e-books, many of the big publishers, who have dominated the textbook industry for so long, are not passing along the savings to their customers.
UNDERSTANDING ECONOMICS, one of the best high school economics textbooks ever published, is now available as a Kindle book. When Understanding Economics, by Allen W. Smith, Ph.D., was originally published by Random House, it was used in more than 600 schools nationwide. The State of Georgia approved it as one of five economics textbooks for the state adoption list. The approved books were: Understanding Economics (Random House) by Allen W. Smith; Economics (McDougal, Littel & Company) by George G. Watson; Economics: Principles and Practices (Merrill) by Clayton and Brown; Invitation to Economics (Scott Foresman and Co.) by Wolken and Glocker; and The American Economy (Houghton Mifflin) by Sampson and Marienhoff
In order to help teachers choose among the approved books, Georgia State University critiqued the five books as part of a larger study conducted by six Master Teachers of Economic Education. The books were rated on a scale of 1 to 4 where 4 = "excellent." The directors of the study wrote, "Incidentally, a "4" rating was used sparingly throughout the critiques by the various coders, who agreed that the rating of 4 was to be assigned to truly excellent treatment. Nevertheless, Allen W. Smith's book received an excellent rating of "4" in nine separate categories, including "readability." Only one of the other four books received an excellent rating in any category. The Random House book dominated the market in Georgia and was adopted by the Atlanta Public School District, the Fulton County Schools, and many other districts throughout the state. The book received the same kind of reception throughout the country. The Random House editor was so optimistic about the future of the book that she told the author she expected his book to become to high schools what Paul Samuelson's college economics textbook had been to colleges and universities. So what happened to the book? Random House sold its textbook division, and the book became a victim of merger mania. The author took legal action to get the rights to the book reverted back to him, and he has held onto the rights while publishing six other books. He thinks the time has now come to reintroduce the book, which he thinks can be a major weapon in the battle against massive economic illiteracy, which has made possible the gross economic malpractice that has led the nation to the brink of economic disaster.
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