004-2020 South African Economy

Title: Everyone’s Guide to the South African Economy

Author: Andre Roux

One topic that I regard highly is economics. And what is better than reading how the economy of your own home country works, because you learn the theory, and real-life application thereof. You can ‘see’ and understand how that theory works in your economy because you live the daily life in that country and notice these forces playing around you.

When I browsed through the book shelves in the book store before I left my home for an assignment in a new country, I found this book, and thought it may be interesting to see how economics was applied into my home country in the past and present. And that is also what the book wishes to teach the reader, to give the reader a look into the jargon and world of the economists and others of a country.

The topics the book discussed ranged from:

  • What is economics?
  • National Accounts (used to measure a GDP and GNI of a country)
  • Economic growth and development
  • Unemployment
  • Inflation
  • Money
  • Monetary Policy and Interest rates (vs Fiscal Policy)
  • The Balance of Payments
  • Exchange rates
  • Government Spending and taxes
  • South Africa in an international context
  • Africa
  • Economic challenges in South Africa

I will admit I did have economics as a subject in high school and university for two semesters. Therefore i had been pre-disposed to the science. However, the book delved more into how economics applied to South Africa at present and its past, and therefore the book was much better in that regard.

For any reader, if you wish to get a slightly better understanding in how your country’s economy works, get a book that gives you this intro.

Rating:

The book is well written, achieves the objective it set out for the South African, and any foreign readers. Rating i give is 4.4/5