Economics

Author: Weisels
Publisher:
Publish Date: 2004-01-01
Features: Based on previous editions, this book adds new content such as game theory, the real business cycle model, international capital markets, the random walk model of the stock market, and the economic role of financial markets. By reading this book, readers will learn to draw and interpret economic charts, understand the characteristics of market equilibrium and pricing systems, and master principles of macroeconomics, microeconomics, and international trade. This book is a highly influential economics textbook published in the United States. The entire book consists of thirty chapters, divided into three parts. Part 1: Basic Principles of Economics, discussing the subject of economics, how to use charts, and supply and demand theory. Part 2: Macroeconomics, covering aggregate supply and aggregate demand, gross national product, inflation and unemployment, output, growth and capital, aggregate supply and full employment, fiscal and monetary policy. Part 3: Microeconomics, discussing demand theory, cost and output, competition and monopoly, efficiency and regulation, factor income (wages, rent, interest, and profit), public choice and externalities, government spending and taxation, and international trade. Each chapter includes numerous exercises with answers provided.