Cocktail Party Economics

Paperback | March 15, 2011

byEveline J. Adomait, Richard G. Maranta

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A little Economics training can go a long way in helping you understand the real world you live in. Assistant Professor of Economics Evie Adomait, along with her writing partner Richard Maranta, write simply about what can appear to be a complicated subject while never dumbing down the intellectual ideas which make Economic thought so important in this day and age. From the classroom to a cocktail party, this book will help you hold your own in conversations about Economics.

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From the Publisher

A little Economics training can go a long way in helping you understand the real world you live in. Assistant Professor of Economics Evie Adomait, along with her writing partner Richard Maranta, write simply about what can appear to be a complicated subject while never dumbing down the intellectual ideas which make Economic thought so ...

Eveline Adomait was born to Dutch immigrants in rural Ontario. She attended the University of Guelph, intending to become a doctor until she realized that she couldn’t use a scalpel on anything alive. This required a change in direction. Fortunately, she was taking an introductory economics course and fell in love with the ideas (and l...

other books by Eveline J. Adomait

Dinner Party Economics
Dinner Party Economics

Paperback|Dec 11 2013


Format:PaperbackDimensions:192 pages, 9.25 × 7 × 0.4 inPublished:March 15, 2011Publisher:Pearson EducationLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0132666006

ISBN - 13:9780132666008

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Rated 5 out of 5 by from Easiest and most Interesting way to learn about Economics! Cocktail Party Economics by Eveline J. Adomait and Richard G. Maranta is an entertaining, as well as educational, book that teaches readers about the basics of economics. Whether you want a casual read, or you actually want a deep understanding of economics, this book handles that perfectly. It is both a textbook and a novel with ideas that flow smoothly from the page to page. Its conversational tone, subtle educational inputs, and perfect examples allow the reader to get a full-on economics lesson while making it seem like an appealing novel. The book Cocktail Party Economics takes the form of a conversation which makes it much more understandable for people who don’t easily comprehend economics. This technique also makes the reader feel involved in the learning process, rather than being bombarded with complicated information. As a student trying to learn about economics and decide if it’s a subject that I want to pursue, I found this book very useful and helpful in that it proves that economics can be simplified without “dumbing down” the subject. Adomait builds a connection with the reader through the use of personal situations that draws the reader in and makes them feel more involved in the conversation. It makes the reader trust the author and, therefore, their ideas. Gossip columns are used to introduce significant economists to the readers. They briefly discuss the economist’s personal life, education, career, and, most importantly, their economic contributions and how those contributions are still important in today’s society and understanding of economics. They allow the readers to get to know the people who “invented” economics and feel on a more personal level with them. The gossip columns give as much information as needed to introduce the economist, then the reader can decide if they want to learn more about them. If they decide against this, at least the reader has enough background information already to say they know who the economist is and what they accomplished. Adomait’s decision to introduce the economists in a gossip column format was intelligent because, while it gives the reader useful information, it seems very casual so the reader continues to be intrigued and doesn’t get bored. Another technique that Adomait masters is providing excellent examples and situations with which the reader can relate to. For example, the cocktail party situation in the beginning of the book explains the idea of scarcity. Also, her Halloween candy circumstance demonstrates the trading techniques that children use to maximize their happiness displays how economic decisions occur in everyday life, making the concept of trade more understandable for readers. These examples effectively illustrate the importance of each aspect of economics, without getting off topic. Adomait proves that economics doesn’t have to be all about numbers and difficult concepts, but more about everyday life and social situations, for economics is all around us and you will soon realize that after reading Cocktail Party Economics.
Date published: 2012-11-26
Rated 4 out of 5 by from Written for Economics Students The following is a piece I wrote myself for Adomait's class this year, as a first year student in her Introduction to Economics at the University of Guelph: Let me know what you think In 2011, Eveline Adomait published her book entitled “Cocktail Party Economics”, through Pearson Canada. The book walks through the basics of economics and terminology used today in this industry. I believe this book is a great read for anybody interested in learning the understanding the basics of microeconomics, with no previous background. This book has greatly improved my understanding of many concepts during and outside of lectures throughout the duration of reading the book. So far, my knowledge of economics has come fully from three sources while studying at the University of Guelph; Parkin and Bade’s Microeconomics textbook, Adomait’s lectures as well as Adomait’s “Cocktail Party Economics”. Initially reading “Cocktail Party Economics”, my impression of the book is that it is a catchy and interesting read, due to the laidback choice of words, nicely separated chapters and important information. I found that although the text was laid back, it still possesses a vast amount of educational material explained well, to be easily understood. Due to the fact that I currently attend regular lectures put on by Adomait herself, I found I connect to the book that much more. It is an easy and interesting read because I feel it runs parallel with the structure of the course Introduction to Microeconomics. Adomait has done a very good job in creating this introductory book, and included real-world examples, too many to count, that emphasize what is being discussed through the literature contained in the book. The use of real world examples really helps any reader, regardless of their economic background, to better understand and make the economic concepts relatable. Also, comic relief comes into play through Adomait’s style of writing which help ease the book’s difficulty; with inputs such as her personal life, poking fun at real-world issues, and much more. The introduction to each chapter is also comic relief by her setting up a specific scenario that will be further investigated economically as the chapter goes on, such as the supply and demand chapter example with the Halloween trick-or-treaters, to only explain what a market was by trading Halloween candy between siblings. By using this technique, I feel the reader takes a few minutes away from reading in-depth economic material and into a brief story mode of a relatable scenario. It seems in every chapter there is an important message to be taken away by the reader, which is well summarized at the end with one little sentence on the napkins, a very clever way to get the reader to think back on the chapter just read. The reoccurring “cocktail party” theme is relevant to anybody reading the book, due to the stereotypical thoughts of economists at one of these “cocktail parties”. Also throughout the book, the author explains a few examples of words economists tend to use repeatedly, and tips on how to understand and talk to such an economist in a given scenario. A reoccurring sidetrack from the plot found throughout the book in every chapter is the Gossip Column’s. I found them not nearly as interesting as the rest of the book, as it felt as though a mini-history lesson was to be learned, when I was just getting into the chapter. After reading a few of the gossip columns in-depth and trying to understand each of the individual economists’ contributions, I got really bored of names and dates. Overall, this book is an excellent read for anybody interested in the study of microeconomics with no previous background as Adomait has done an excellent job through her book, The Cocktail Party Economics. The book is a great read with simple, relatable examples to be understood by all, partnered with a lot of information with regards to economics to be taken away by the completion of the book.
Date published: 2012-11-20
Rated 5 out of 5 by from Simplifying the concepts I work in healthcare and have never taken a proper economics course before. This book simplified the tough concepts by using a great mix of examples that drive home the point. There are some challenging chapters, but the authors are straightforward about this and guide the reader through as well as I imagine can be done. Overall I think the book is a great resource for anyone trying to get a fresh and unique perspective on this subject.
Date published: 2011-09-29

Extra Content

Table of Contents

Making Introductions

Chapter 1  Scarcity:  It’s All About Scarcity

Chapter 2  Value: Where Emotions and Economics collide

Chapter 3  Exchange: Supply and Demand Take One

Chapter 4  Inputs: Producing Wealth

Chapter 5  Comparative Advantage: The Absolut(e) of Comparative Advantage

Chapter 6  Supply Side (Venti)

Chapter 7  Demanding Clients (Venti)

Chapter 8  Equilibrium: Market Forces—A Beautiful Kind (Venti with a shot)

Chapter 9 The Pursuit of Happyness (Venti): Efficiency and Equity

Chapter 10 Market structure:  The Name of the Game (Skinny Venti)

Chapter 11 Getting an F:  A Look at Market Failures

Chapter 12 Financial Markets: Numb€rs

Conclusions and Thanks: Tying up Loose Ends

Afterword: Post Partum

Editorial Reviews

Cocktail Party Economics is a fun and quick read! I love the way it weaves together little things to explains big things. The flow of the stories and quotes, used to enliven the economics, feels like easy conversation. This is the easiest, and hence most “efficient”, introduction to economics I know. Merwan H. Engineer, Full Professor of Economics, University of Victoria Cocktail Party Economics is a refreshing, easy to understand introduction to the arcane world of economics. Using an engaging, conversational style filled with many practical examples, the book does a great job explaining the concepts behind media coverage of economic and business events. I also enjoyed the lively descriptions of long-dead economists and how their ideas are relevant to our daily lives. Warren Jestin, Chief Economist, Scotiabank