Sometimes Economics Is Just Child’s Play

New Children's Book: In the Forest, by Dr. Idit Raz Kalisher

All too often, economics gets a bad rap. Think of grey suited wonks discussing interest rates or bond yields. In fact, economics is much more basic to the way we – and our children – live our daily lives. Now, Dr. Idit Kalisher has authored In the Forest, a marvelously accessible anthology of children’s’ stories illustrating how we face rational, economic decisions in almost everything we do.

Human beings learn early on that resources are finite. Time, money, attention span, cookies – everything has its limits. We are constantly obliged to make decisions, choosing between alternatives in an effort to make the most out of what life has to offer. This is where economics begins. Children perceive this intuitively. Helping them navigate the challenges of decision making, understand what is at stake and take responsibility for what they choose is fundamental to their growth and development.   

The eight stories in Kalisher’s book brings home the message in vivid and comprehensible terms.  The moral of each story is actually a fundamental principle of economics, such as alternative cost, relative advantage, investment, savings, trade and market failure.  Kalisher’s stories help children become more aware of their own, economic decision making, accept the need to delay gratification, trade and compromise with others, while accepting that the best result is often less than perfect.

Dr. Idit Raz Kalisher is a lecturer in the Economics Department at Sapir College.  She teaches courses on price theory, and an introduction to econometrics.  Kalisher is also a senior researcher at the Aaron Institute for Economic Policy.  In line with her book, Kalisher has developed an approach she calls “economics – not just for grownups,” a method for teaching economics to children, beginning in early childhood.  Kalisher believes that early on, children develop the ability to make complex decisions such as allocation of resources.  Her approach helps strengthen positive character traits, such as responsibility, collaboration and initiative.