Principles of Modern Western Economics - (4th Edition)

Author: Liu Houjun
Publisher:
Publish Date: 2005-02-01
Features: This book systematically, comprehensively, and concisely introduces the fundamental principles of modern Western economics. It is a high-quality textbook. In my opinion, it has the following characteristics: First, guided by the overall objective of helping readers gain a relatively comprehensive understanding of the essence of modern Western economics, the book maintains its distinctive features in terms of its structure and content. In the microeconomics section, it begins with basic analytical methods such as demand, equilibrium, and elasticity, followed by theories of consumer and producer behavior, then market equilibrium price theory determined by these behaviors, and finally distribution theory. In the macroeconomics section, it first introduces the basic operational process of Western macroeconomics, followed by theories of goods market equilibrium and money market equilibrium, then the role of macroeconomic fiscal and monetary policies, and finally theories of economic cycles and economic growth. This arrangement helps readers further understand the basic framework and certain logical relationships of modern Western economic principles. Second, in terms of material selection and analytical methods, the book strives to reflect the latest achievements and is relatively comprehensive in content. Third, the book is written in an accessible and easy-to-understand manner, with clear explanations of the basic concepts of modern Western economics. It is suitable not only as a textbook or teaching reference but also as a reference book for a broad range of economic professionals and self-learners seeking to understand and study modern Western economic theories.