Cumulative sales exceed 100,000 copies [Common Sense You'll Be Fooled If You Don't Know] series
Before studying economic common sense, you must first understand economic 'terminology'!

The author of "Economic Common Sense That Will Make You a Fool If You Don't Know" by Vessel, a 7-year veteran
The Basics of Economic Issues for the Economically Illiterate: 'Terminology'

Published in 2019, 『Economic Common Sense: A Fool's Guide』 (hereafter referred to as 『Economic Common Sense』) was selected for the Sejong Books liberal arts category and has been a bestseller for seven years. It is a book that has firmly established the foundation of the current [Common Sense: A Fool's Guide] series.
Author Lee Hyeon-woo, who has meticulously compiled and clearly explained the basic common sense needed by young office workers just starting out in society, college students about to graduate, and other 'economic illiterates' who get a headache just hearing the word 'economics', has now meticulously organized common sense economic 'terms'.
The new book, "Economic Terms You Should Know to Be Fooled," is a good book to read before reading the previous work, "Economic Common Sense."
This book will be a welcome introduction to economics studies for anyone who finds themselves unable to understand the unfamiliar words in books and articles.

Studying accounting will help you read the economic patterns hidden in numbers and make sound decisions.
Announcements from the media, experts, and government reflect their respective positions and perspectives, making it difficult to unconditionally trust them.
However, by understanding the meaning of numbers through accounting and considering the other party's perspective, we can discover the economic phenomena hidden behind the numbers.

---「Chapter 1.
Just knowing this will help you escape from being a beginner in economics - Economics, finance, and accounting, just knowing the difference between these three will help you escape from being a beginner!

When distinguishing economic indicators, it is important to distinguish between leading and lagging indicators.
It is necessary to clearly distinguish whether the indicator has already been reflected in the market or will be reflected in the future.
Since the outbreak of COVID-19, stock prices have plummeted and unemployment rates have skyrocketed.
Some people believed that stock prices would fall further because the economy was struggling due to high unemployment.
But the result went in the opposite direction.
We made the mistake of predicting the economy based on lagging indicators, which led to a wrong judgment.

---「Chapter 1.
From "Escape from Beginner Economics with Just This - Knowing the Economy Shows You the Flow of Money"

The principle that using a lever allows you to accomplish more with less force has been applied in a variety of fields.
Especially in finance, leverage has come to mean borrowing significantly more money than one's own capital to make larger investments and ventures.
Leverage can increase your profits relative to your capital, but it can also increase your losses.
While the alchemy of finance has certainly brought about many opportunities and wealth for individuals and society, it also has its limitations, much like the alchemy that failed to create gold.
---「Chapter 2.
From "Fundamentals of Investment: Finance - Modern Alchemy, the Financial Industry"

During the Great Depression, many banks failed, destroying depositors' confidence that they would get their money back.
The scale of the damage was also large because there was no system to protect depositors.
Therefore, the Federal Deposit Insurance Corporation (FDIC) was established to protect depositors.
Just as our country's Deposit Insurance Corporation guarantees depositors up to 50 million won, the FDIC in the United States guarantees depositors up to 250,000 dollars (approximately 340 million won).
The great financial crisis created the various safeguards we have today.
---「Chapter 3.
From "Economic Policies That Make Money Visible When You Understand Them - Financial Institution Traffic Management Methods"

With the recent resurgence of protectionism, 'antidumping regulation' policies are appearing frequently.
Dumping means selling a product at a price significantly lower than its normal price.
If left unchecked, the importing country's industry could suffer a serious blow.
In particular, if local competitors go bankrupt, the dumping company can raise prices again, leading to "predatory pricing," which can cause significant long-term harm to consumers.
---「Chapter 3.
Economic policies that make money when understood - From "The Seeds of International Trade and Tariff Wars"

As supply chain flows change, the flow of money naturally changes as well.
If the paths along which money and goods have flowed until now were changed, the world would look different.
We may be in the midst of that change.
When the existing flow changes, many people are afraid.
But it may be unsettling because no one has experienced this change before.
If you prepare well, you may be able to grab more opportunities.
---「Chapter 4.
From "Practical Economic News Strategy - Supply Chain Earthquake, Reshoring"

We strive to reduce risk in financial markets and increase trust in the financial system and government policies through nudges.
But these attempts cannot solve all the problems of financial markets and the economy.
Nudge is a new approach to understanding and improving irrational human behavior.
It is difficult to completely eliminate human psychological biases, and even if behavioral changes are made, they are unlikely to be sustained.
Nonetheless, nudges are an effective tool for inducing voluntary behavioral change.

---「Chapter 5.
From "Economic Terms in Daily Life: Voluntary Problem Solving, Nudge"