Overview

Initially, considered a wacky concept when it was published over thirty years ago, the Big Mac Index has become a universal benchmark and the subject of countless academic studies, economics lectures and featured in numerous economics textbooks. Apart from currency evaluation, implications of the Big Mac index and McDonald's as an economic tool are expanding to other areas opening up a wide variety of academic applications for teaching economics in a fun, inventive way. The following subjects are covered in the workbook; Purchasing Power Party, the Law of One Price, currency evaluation, foreign exchange rates, Inflation/deflation, Balance of Trade, Gross Domestic Product, buying power of money, McWages, the Big Mac Index and the Adjusted Big Mac Index. This workbook was created to supplement an academic economic curriculum; however, it can also be used by anyone interested in learning more about economics. The material is presented so learners can absorb new concepts and immediately practice what they have learnt. After each unit, there are a series of questions, and at the end there is a final exam that tests comprehension of all concepts. The goal of this economics workbook is to present a practical, easy to follow program using; the Big Mac Index and other economic instruments to explain fundamental economics through examples and practice calculations.

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9781545126387

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