Basic Economic Analysis

Author: Paul A. Samuelson
Publisher:
Publish Date: 2006-12-01
Features: "Foundations of Economic Analysis" (Supplement Edition) systematically summarizes the main content of the representative work of Paul A. Samuelson, a renowned American economist and Nobel laureate in economics. Based on this, it objectively comments on Samuelson's theories and analytical methods, as well as their impact on modern Western economics. Paul A. Samuelson's classic work has been reprinted multiple times and translated into many languages. Now, he has added new content to his 1947 discussions. The new introduction describes the origins of this book and analyzes how its contributions align with theoretical developments since 1947. The new long mathematical appendix examines the groundbreaking advances in basic methodologies in political economy since 1947: linear programming and comparative statics; dynamic and stochastic nonlinear programming; modern duality theory; the testable content of neoclassical monetary models; probabilistic decision-making with new perspectives on expected utility maximization theory; and portfolio and liquidity preference analysis using a generalized method superior to the mean-variance approximation.