Simplify the following text for a Grade 9 native English-speaking person.
Original: The acronym was coined by Jim O'Neill in a 2001 paper entitled `` Building Better Global Economic BRICs '' .
Simplified: The acronym was invented by Jim O'Neill , an economist who worked for Goldman Sachs . In 2001 , he wrote an article that he called `` Building Better Global Economic BRICs '' .