This work aims to provide the student with an understanding of the nature of economic institutions, the factors responsible for their emergence, and the manner in which these institutions have evolved over time in response to changing economic, political and social circumstances. While it is not easy to classify the considerable variety of institutions which have evolved in Australia during this century and thus construct a framework in which they may be comprehensively analyzed, the topics covered in the text do provide a context in which to review the more important institutional arrangements of the Australian economy.
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George Kenwood is retired, formerly a Senior Lecturer in Economics, University of Queensland.
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