Another exam session down, a new article, and shipping dates

First of all, I would like to congratulate all of this year’s graduating I.B. students (and their teachers) on having completed their exams. I wish you all the best as you move onto your next adventures.

As well, I would like to share my latest article entitled “The Death of the Dollar.” The one sentence summary is that the U.S. can either remain the issuer of the world’s reserve currency or it can stoke inflation so as to bail out its banks, but it can’t do both.

The Death of the Dollar

Finally, I will be taking up teaching duties next year in Abu Dhabi so I would ask schools looking to order books for the 2014-2015 school year to please get their orders to me by the first week of August. While orders will be shipped after that date, if possible I would appreciate receiving them before that date so as to be able to fulfill them myself.

Thank you and all the best as the school year winds to a close.

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Updated Lessons

I had an opportunity to go through the lessons for the second edition in late January and make some small improvements. The updated PDF file is now available on the page above entitled “The Second Edition” as well as through and the IB Online Curriculum Centre’s Teacher Resource Exchange.

I am also pleased to report that some of my articles from the Pembroke Daily Observer are now posted on the Ludwig von Mises Institute’s website. I invite you to check out the site as there are many interesting articles and readings there with an Austrian school flavour.

I wish you all the best as you move with your students into the final innings.

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Some recent articles

Two of my recent articles published in the Pembroke Daily Observer have looked critically at the inflationary biases of economic policymakers which, I believe, will lead to a rather sticky end:

Smash Asset Price Inflation Too! contrasts the efforts of policymakers to fight wage and price inflation in the 1980s with the efforts of policymakers to encourage asset price inflation today while

The View from the Top looks at the (in my view, flawed) rationale behind the inflationists’ efforts.

To see all of the articles I have had published over the past couple of years, go to the page above entitled “Articles.”

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The book’s intended use

I am writing today to explain why I am only selling teachers’ guides along with class sets of at least 10 copies of the student exercise book.

1. The book is intended to be used as a consumable student workbook. The very affordable class set price of $22 per copy to overseas addresses reflects this. When used in conjunction with the free online lessons the book is the best learning tool for I.B. economics available. Your students will benefit greatly from being issued their own copy at the beginning of the course and using it throughout the two-year program.

2. However, if you don’t have the budget to buy copies for your students every year, it is fine to use the book as a class text and reissue it to each new cohort of students and have them answer the problems in their notebooks. I understand that some schools have tight budgets that leave teachers with few options.

3. However, what I am not prepared to support is teachers using the book as a photocopy master. If the book is good enough to use with your students, it is good enough to purchase for your students. As the cost to photocopy the exercises in the book would be about the same as the $22 purchase price, it just doesn’t make sense to make photocopies, especially if you take into account time spent at the photocopier.

I hate to be a nag, but it is useful to be reminded that significant time, effort and money went into producing Workbook for the New I.B. Economics, 2nd Edition. When you choose to purchase the book, you are honouring that fact and making it possible for me to continue to produce useful and affordable educational materials. Thank you for your support.

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If you got a postcard…

…I am glad you followed up and came to visit the site. The two biggest advantages of Workbook for the New I.B. Economics, 2nd Edition over other books available for the course are:

1. It is engaging and demands that students DO a bit of economics every day, not just read about it. While other books may have some multiple choice or short answer questions at the end of each chapter, only Workbook for the New I.B. Economics, 2nd Edition has graphing and analysis questions to support each of its 82 lessons, questions for review and extension every 6 or 7 lessons and 4 extensive sets of Paper 3-style quantitative questions.

2. The scope (a page or two long each) and sequence of the lessons permits many students to learn the course with a great deal of independence. This is especially valuable for schools where I.B. economics is being taught alongside A.P. or national curriculum courses.

Of course, the value proposition is compelling as well – in North America student copies ordered as part of a class set are just $17, while for schools on other continents the price is still a very reasonable  $22. Due to the conveniently sized ‘board game’ airmail box offered by the USPS, I am pleased to offer overseas schools the class set price of $22 per copy for orders of 15 books or more.

To learn more, please click on the link above entitled “The Second Edition.” To have a look at the book’s free online lessons, click on the link in the post below from September 26th.


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The lessons directly

To make it easier for people to have a look at the lessons for Workbook for the New I.B. Economics, 2nd Edition I am placing the PDF directly on the website both on the page entitled “The Second Edition” and here:

Workbook for the New I.B. Economics Second Edition Lessons March 2014

However, if after having had a look at the lessons you decide that you will be using them in either your teaching or your learning, I would ask that you download your own personalized copy (ie with your own name stamped on the top right corner of the first page) from…

…where you will receive not just a PDF of lessons but also sample pages from the student exercise book and teachers’ guide. While Gumroad asks you to provide credit card information before you can download the file, the file itself is free – $0. The benefit of your downloading the file from Gumroad is that I will be able to contact you if I make necessary changes to the book or if I make additional resources available.

If you are a teacher and want to download the file and then share it with your students on an internal file server to save them the bother of downloading their own files that is fine as I will still be able to contact you through Gumroad to pass on information to your students.

Thank you for your support.


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The e-lessons are now available for viewing

This morning I put the book’s lessons up on the Gumroad website for distribution. You can access them here:

As you can see, the new edition is a significant improvement on the first edition released in 2011. To give a quick taste of the accompanying exercise book, I have put the table of contents and exercise 63 from the new book below. As you can see, there are as many pages of questions in the new exercise book as there were total pages in the old integrated textbook/workbook.



I hope that after having had a look at the lessons and the samples from the exercise book that you will decide to buy copies for your students. While you are welcome to purchase an inspection copy of the student exercise book, please be aware that the teachers’ guide can only be purchased by schools that have ordered at least a single class set of student exercise books.


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The books have arrived…

The Second Edition

The Second Edition

I received the exercise books from the printer today (and the teachers’ guides a couple of weeks ago), and should be able to make the electronic lessons available later this week. I would like to thank my wonderful graphic designer, Marisa Scaramella, and the fabulous team at Marquis Imprimeur for all of their help.

Due to a concessionary small business postal rate offered by Canada Post, I will be able to have a book in a student’s hands most places in the world for around $20 if the book is ordered as part of a class set of 20 books or more. For more information about ordering the book, please go to the page entitled “The Second Edition.”

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Good news on postal charges

While I continue to lament my loss of Oman Post’s international airmail printed matter rate, I am pleased to share that due to my membership of Canada Post’s Venture One small business program the international airmail (with tracking) postal charges for books ordered as part of a class set of at least 20 come in at around $8/book, making the total cost per book (my price of $12 plus $8 shipping) around $20 per copy.  For a 192 page book of exercises supported by freely available online lessons, this remains a very attractive price.

I look forward to receiving the books from the printer in the next week or so. I will be sure to announce their arrival when they come.

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Latest Column and 2nd Edition Update

Due to some changes to do with the ownership structure of the printer I employ (ex-Transcontinental, now Marquis) there has been a further slight delay, however I should have the books ready to ship by the end of June or early July.

So, again, if you would like to look at an inspection copy of the new edition, send me an email to with your full postal address, the number of copies you require, and your preferred method of payment (cheque drawn on a North American bank or credit card). Note that the teachers’ guide with the full solution key will only be made available to those schools ordering class sets of the student book. If you plan on taking your summer vacation in North America, I would be happy to mail your copy to your summer address in order to save you postal costs.

As well, my most recent column from the June 8th edition of the Pembroke Daily Observer, which deals with the disconnect between the headline economic data from the stock and bond markets and the underlying health of the real economy as captured by employment and income statistics can be read here:

Fake it til you make it

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