Principles of Economics

Author: Wu Bing Chen Fuming
Publisher:
Publish Date: 2005-07-01
Features: As a foundational textbook for finance majors in vocational and technical colleges, this book begins with the fundamental concept of economics—the scarcity of resources—to discuss resource allocation and its mechanisms, consumer behavior theory, costs and revenues, corporate systems and objectives, game theory and information economics, market failures, the operation of money, banks, and financial markets, unemployment, inflation, and monetary tightening in macroeconomic performance, as well as government policies for regulating the economy, including fiscal and monetary policies. It also covers basic knowledge of international trade and finance in open economies. The book explores both the behavior of microeconomic entities and the patterns of macroeconomic performance, combining static and dynamic economic analysis, as well as positive and normative research. Reflecting the latest developments in economics, the microeconomic section has been enriched with topics such as information asymmetry, corporate theory, and game theory. The macroeconomic framework and content have been updated to align closely with international counterparts. The content is concise and easy to understand, with lively and fluent language, making it highly readable. Each chapter includes engaging case discussions. This textbook is suitable for use in higher education institutions at the college level and above, as well as for reference by young students and economic professionals.