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This accessible workbook has been developed to provide readers with a solid grounding in economic principles. It offers a critical examination of 40 economic theorems and concepts - such as wealth distribution, supply and demand and finance - and the contexts in which they should be understood.

Tabla de contenidos provista por Syndetics

• 1 Why Study Economics?
• 2 The Definition, Character and Misuse of Economics Some Introductory Concepts
• 3 How Some Basic Things Are Determined by an Economic System
• 4 Caeteris Paribus and Prediction
• 5 The Production Possibilities Frontier
• 6 Wants, Resources, Technology, Productive Units Economizing and Rationality
• 7 The Economic Principle
• 8 The Dehumanized Utility Function and Rationality
• 9 Human Ends
• 10 Individual and Social Decision-Making Demand, Supply, Competition, Invisible Hand
• 11 Price Determination
• 12 Elasticities of Demand and Supply
• 13 Market Prices and Social Values
• 14 The Perfect Competition Norm
• 15 The Invisible Hand Money and Finance
• 16 The Influence and Safety of Finance
• The Business Firm and Society
• 17 The Firm and Profit Maximization
• 18 Oligopoly, Stability and Public Policy
• 19 Expectations, Uncertainties and Probabilities
• 20 Externalities and Efficiency
• 21 Responsibility to Stockholders and Others
• The Distribution of Income and Wealth
• 22 Functional Income Distribution Theory
• 23 The Minimum Wage Law
• 24 Marginal Productivity as an Implicit Ethical Norm
• 25 More on the Distribution of Income and Wealth
• 26 The Equity-Efficiency Trade-off Macroeconomics
• 27 Aggregate Demand and Supply
• 28 That Keynesian Revolution Controversy Again
• 29 The Welfare State
• 30 Inflation and Stagflation
• 31 Rules versus Discretion in Macroeconomic Policy
• The International Economy
• 32 International Economic Relations
• 33 The International Monetary System
• The Future Development of Economic Systems
• 34 The Economic Roles of Government
• 35 Comparative Economic Systems
• 36 Economic Development
• 37 Growth and Sustainable Economies
• The Future Development of Economics
• 38 What Picture of Social Problems?
• 39 The Relation to Social Philosophy
• 40 A Humanistic Economics is Needed

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CHOICE Review

Smith (Univ. of Minnesota, professor emeritus) has written a book better titled "Understanding Economics Textbooks." In 40 short essays he critiques introductory textbook coverage of all major topics from production possibility frontiers through comparative economic systems. Based on what the he calls "humanistic economics," Smith argues that traditional texts emphasize overly formal models at the expense of actual economic behavior and institutions. Few other books provide this much-needed, comprehensive assessment of the standard approach. Regrettably, the author makes no reference to existing textbooks or the variations within them. More seriously, there is no coverage of the current literature on economics education, so there is no context for Smith's lengthy and informative discussion of such topics as aggregate demand and supply. Although Smith intends the book for economics students, it will be more helpful to economics instructors, whom Smith addresses directly with comments about what creates "good class discussion." The few notes and short bibliography further limit the book's overall usefulness. Recommended for graduate students and teaching practitioners. M. H. Maier; Glendale Community College