Man wants more than there is any prospect of obtaining. As soon as we have more of this, we want still more of it and more of that... and that. To say that we always want more is to say that man lives, even in the most affluent societies, in a state of scarcity. The response to scarcity - What determines how much each person produces and gets of the total? And what determines the particular mix of goods and services s/he consumes? -- constitutes the area of economic study. Economics studies the competitive and cooperative behavior of people in resolving conflicts of interest that arise because wants exceed what is available.
To address these questions, this book discusses the following topics, each in its own chapter:
-> Scarcity, Competitive Behavior, and Economics;
-> Competition;
-> Some Behavior Postulates;
-> Basis of Exchange;
-> Market Restrictions, Pollution, Property Enforcement Costs, and Public Goods;
-> Costs and Production;
-> The Business Firm and Profits;
-> Production by Firms in Price-Takers' Open Markets;
-> Production and Pricing in Price-Searchers' Open Markets;
-> Sellers' Tactics for Changing Market Conditions;
-> Derived Demand for Productive Resources;
-> Wages and Employment in Open Markets;
-> Restrictions on Open Markets for Labor;
-> Interest, Saving, and Investing;
-> Growth and Distribution of Wealth;
-> Unemployment and Economic Fluctuations;
-> National Income: Measurement and Meaning;
-> National-Income Theory: The Basic Model;
-> Money and Income;
-> Money Supply and Commercial Banks;
-> Money Supply: Determinants and Techniques of Control;
-> Government Finances;
-> Fiscal Policy Impacts on Income;
-> Inflation;
-> Stabilization orDestabilization Policy?;
-> Imports and the "Gain from Trade";
-> International Trade Theory;
-> Resource Alocation, Terms of Trade, and Tariffs;
-> The Balance of Payments and Its Interpretation;
-> Balance-of-Payments Adjustment
Browse our Bookshelf Favorites store for big savings on popular fiction, nonfiction, children's books, and more. |
Book Description
Product Details
Would you like to update product info or give feedback on images? |
More About the Authors
Discover books, learn about writers, read author blogs, and more.
Customer Reviews
Share your thoughts with other customers
Most Helpful Customer Reviews
17 of 17 people found the following review helpful
Format:Hardcover
I am about to order this book. I have just read its quite favorable reviews, and I am not a bit surprised at their being impressed by Armen Alchian's writings. I was a colleague of Armen's, at the Rand Corporation "think tank," during the 1950s, and hold no economist in higher regard. When I sat down at my keyboard just now it was to find out what happened to Armen's works. One Google response was someone saying that Armen should get a Nobel Prize. I concur. My own Nobel Prize in Economics was awarded in 1990 along with the prize for Wm. Sharpe. I see in Wikipedia that Armen "influenced" Bill, and that Armen is still alive and is 96 years old. I'll see if I can contact him, but first I'll buy this book.
5 of 6 people found the following review helpful
Format:Hardcover
I am a graduate student in economics and have recently read this book. It is a clear review of the basics of economics, had I taken the time to understand something at this level, I would have had the background needed for any advanced course in Micro theory. The examples are timeless, and the book reveals the unique and lucid mind of its authors. I would recomend it to any fan of economics or of Alchian.
Format:Hardcover|Amazon Verified Purchase
I'm inspired by the previous review to add my strong agreement. I think this is one of the best introductory economics texts of the past 50 years - far better than Samuelson or the other favorites. Free market oriented, it's accessible and intelligible to any serious student. Examples make sense.
The introduction highlights one of the most important insights (from Alain Enthoven) students of economics should consider "the economic theory we are using [in practical work] is the theory most of us learned as sophomores. The reason PhD's are required is that many economists do not believe whta they have learned until they have gone through graduate school and acquired a vested interest in the analysis."
I highly recommend University Economics to anyone who wants to acquire a basic understanding of economics without political cant.
The introduction highlights one of the most important insights (from Alain Enthoven) students of economics should consider "the economic theory we are using [in practical work] is the theory most of us learned as sophomores. The reason PhD's are required is that many economists do not believe whta they have learned until they have gone through graduate school and acquired a vested interest in the analysis."
I highly recommend University Economics to anyone who wants to acquire a basic understanding of economics without political cant.
What Other Items Do Customers Buy After Viewing This Item?
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
Listmania!
|
|
