Market economics 101: Field trip to Prosperia
Longtime economist teaches market economics in tropical tale
AUSTIN, Texas – Supply and demand. Scarcity. Subsidies. You may remember hearing these terms from your economics teacher once upon a time or reading about them in a long, dry textbook. With today’s economic uncertainty and instability, it’s more important than ever to have a firm grasp on the economic principles that affect us everyday, but how much do we really absorb from those fleeting high school economic lessons?
Because the principles of market economics have such a strong influence on our daily lives, longtime economist Doramas Jorge-Calderón wanted to make the subject more accessible to the general population. In his new book, “Rich & Lost in Prosperia: A Tropical Tale of Market Economics” (Mill City Press, April 2010), Jorge-Calderón takes a different approach to teaching economics by explaining the complex principles through a fictional tale. Set in the tropical paradise of Prosperia, two young entrepreneurs Richy and Losto set out to establish and expand their respective businesses, learning economic principles along the way.
“Teaching economics through story-telling instead of a series of lectures makes the complex subject very accessible,” says Jorge-Calderón, an economist for the European Investment Bank in Luxembourg. “I always wanted to write a book of popular economics because they are of great help to students. They certainly helped me.”
As Richy and Losto build their businesses from scratch, “Rich & Lost in Prosperia” provides an introduction to market economics. From scarcity and competition to trust and monopolies, Jorge-Calderón helps decode these economic terms that are often misunderstood.
Doramas Jorge-Calderón currently resides in Luxembourg, where he serves as a senior economist for the European Investment Bank. He previously served as an economics consultant for National Research Associates, Inc., in London. Jorge-Calderón holds a master’s degree and doctorate in economics from the University of Leeds in the United Kingdom. For more information, visit www.doramasjorgecalderon.com.