Modern Economic Theory

Front Cover
New Age International, 2002 - Economics - 1002 pages
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This Edition Includes Several New Topics To Make The Coverage More Comprehensive And Contemporary. Various Concepts And Issues Involved In Economic Analysis Have Been Thoroughly Explained And Illustrated With The Help Of Examples Drawn From Our Daily Experience. The Inter-Relationships Between Different Concepts Have Been Suitably Highlighted. The Application Of Economic Tools For Problem Solving Has Been Emphasised. Review Questions And Exercises Have Been Included In Each Chapter To Help Students To Test Their Understanding And Prepare Confidently For Examinations.The Book Would Serve As Excellent Text For B.A., B.Com And Business Administration Students. Candidates Preparing For Various Professional And Competitive Examinations Would Also Find It Very Useful.
 

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Contents

PREFACE
1
ECONOMIC MODELS AND THEIR USES
28
MICROECONOMICS AND MACROECONOMICS
33
THE METHODOLOGY OF ECONOMICS
55
EQUILIBRIUM STATICS AND DYNAMICS
69
THE CENTRAL PROBLEMS OF EVERY ECONOMIC SOCIETY
81
SUPPLY DEMAND
95
ELASTICITIES OF DEMAND AND SUPPLY
133
THEORIES OF PROFITS
545
NATIONAL INCOME AND NATIONAL PRODUCT
562
INCOME INEQUALITY AND POVERTY
596
THE CLASSICAL THEORY OF INCOME AND EMPLOYMENT
607
THE CONSUMPTION FUNCTION
617
THE INVESTMENT FUNCTION
632
THEORY OF INCOME OUTPUT DETERMINATION
647
THE DIRECTION CHANGE
667

THE THEORY OF CONSUMER DEMAND THE UTILITY APPROACH
171
THE THEORY OF CONSUMER DEMAND THE INDIFFERENCE CURVE APPROACH
186
THE FIRM ORGANISATION LOCATION AND FINANCE
220
FACTOR OF PRODUCTION AND FACTOR MOBILITY
232
PRODUCTION AND COST IN THE SHORT RUN
269
THE THEORY OF PRODUCTION LONG RUN ANALYSIS
290
THE NATURE AND BEHAVIOUR OF COST IN THE LONG RUN
311
A BROAD OVERVIEW OF THE PRODUCT MARKET
329
PERFECT COMPETITION AND ECONOMIC EFFICIENCY
349
MONOPOLY AND PRICE DISCRIMINATION
384
MONOPOLISTIC COMPETITION
430
OLIGOPOLY AND STRATEGIC BEHAVIOUR
443
AN OVERVIEW OF FACTOR PRICING AND INCOME DISTRIBUTION
465
THE LABOUR MARKET AND COLLECTIVE BARGAINING
481
RENT AND QUASI RENT
496
THEORIES OF INTEREST
515
THE MULTIPLIER PRINCIPLE
673
BUSINESS TRADE CYCLES AND UNEMPLOYMENT
691
THE VALUE OF MONEY AND THE QUANTITY THEORY
727
NATURE CAUSES CONSEQUENCES AND REMEDIES
736
MONEY CREDIT AND BANKING
754
CENTRAL BANKING AND MONETARY POLICY
790
DIRECTION OF THE ECONOMY AND PUBLIC FINANCE
805
FREE TRADE VS PROTECTION
851
THE BALANCE OF PAYMENTS
874
EXCHANGE RATE SYSTEMS AND PRACTICES
890
INSTRUMENTS AND INSTITUTIONS
910
ECONOMIC GROWTH AND DEVELOPMENT
927
OUR INTELLECTUAL HERITAGE
974
GLOSSARY
986
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