What is inflation and how does it affect us? What is Gross Domestic Product, and how is it calculated? What is the Consumer Price Index, and what is it used for? How does the labor market work? These are just some of the questions addressed in the new book.
“Macroeconomi-What?!” is the second installment in the “Economi-What?!” series created by the Millennium Institute MIPP. This series serves as a didactic guide that not only explains fundamental economic concepts but also contextualizes them in everyday situations, making topics like unemployment, inflation, and market dynamics accessible to a broad audience.
This interactive book, authored by Millennium Institute MIPP researcher Andrea Canales and Álvaro Brunel, incorporates new content and innovative teaching methods. It promises to be an essential resource for anyone wishing to understand the main concepts of macroeconomics in an engaging and accessible way.
“The book is very educational, and at the end of each unit, there are activities that readers can complete, or teachers can use in their classrooms,” says Andrea Canales, one of the authors.
Financial literacy in Chile remains low in 2024. According to a 2023 report by the Central Securities Depository (DCV) and Cadem, 42% of Chileans have a low level of financial knowledge, while only 21% have a high level.
Among young people, 30.2% lack basic financial education to function efficiently, with performance below the average of the Organization for Economic Cooperation and Development (OECD).
To address this, the authors have worked tirelessly to create a book that not only informs but also inspires readers to delve deeper into economics. It highlights the importance of understanding macroeconomics in daily life, discussing topics such as the impact of unemployment on social and economic stability, the challenges posed by inflation, and the significance of GDP as an indicator of a country’s economic growth.
“The topics we hear most often in the media are growth forecasts, inflation, or unemployment rates. In this book, we aim to explain these topics in everyday terms and, most importantly, their potential effects on our daily lives,” says Andrea Canales, MIPP researcher.
The book uses real-world examples to ground abstract terms, linking them to everyday economic decisions and notable news or historical events. It also includes interactive activities to help readers assess their knowledge and learning progress.
This new book is part of MIPP’s ongoing efforts to improve financial literacy in the country. The first book, “Microeconomi-What?!,” was a significant success. To date, more than 18,000 people from Chile, Mexico, Peru, and Argentina have downloaded the book, which was designed to educate young people, as “there are few books or resources available for this group on economic topics,” notes Andrea Canales.
“Macroeconomi-What?!” is more than just an educational text; it is a tool designed to empower people with the knowledge needed to understand and analyze the economic dynamics that influence their daily lives and society at large.
The Millennium Institute MIPP invites everyone interested in economics to explore this valuable guide, now available for free at www.economi-que.cl.
MIPP Chile 2024