Introductory economics
Wykstra, Ronald A
Introductory economics - New York Harper and Row Pub 1971 - 754 p.
The meaningful question today is not, "What are the basic principles of eco nomics?" but rather, "Why is economics important now?" The basic purpose of writing this book is to demonstrate that economics is a "now" subject that the facts and theory comprising the body of economic knowledge are useful and pragmatic. Indeed, perhaps more than any other branch of the social sciences, economics is about the real world, if for no other reason than that it confronts a wide variety of current problems daily.
Economics has systematically developed as a science, but it remains firmly rooted in the realm of social values and practical problems. As a science, eco nomics tests hypotheses and compares theory to real-world observations. Try as one might, economics as a science is not and cannot be made a pure or value free subject, nor can its theory prove what should be. Thus, the subject matter of economics is a combination of practical problems, scientific analysis, and political economy.
CONTENT
This text is organized around five basic parts: Part 1 is an introduction to economics and a survey of the private and public sectors of the American economy (Chapters 1-5); Part 2 analyzes economic instability-the problems of unemployment, inflation, and economic growth (Chapters 6-13); Part 3 dis cusses market-pricing problems associated with the goal of economic efficiency in the allocation of resources (Chapters 14-19); Part 4 evaluates selected eco nomic problems characteristic of the American economy in the 1970s (Chapters 20-24); and Part 5 introduces major problems in the international economy (Chapters 25-28). Tabular data and diagrammatic illustrations are presented together with the hope that the combined use of such information will facilitate understanding. Two appendixes present further refinements in economic theory. This may be desired by some instructors. Although understanding the fundamentals of economic theory is important, introductory economics can no more afford to pursue intellectual rigor indis criminately than it can afford to become a wasteland of casual and inconclusive facts. In this book, care has been taken to present the basic principles of eco nomic theory in as simplified a manner as possible. Where economic theory is unsettled, vague, or deficient, these realities have been presented openly to the student. Thus, the controversy over Monetarism and fine-tuning of the economy is given extensive treatment, the unemployment-inflation tradeoff relationship. is discussed, a full critique of price theory is presented, the viewpoints of dis senting economists are aired, and the normative and social-science perspectives of economic problems are examined.
Economics
330 WYK
Introductory economics - New York Harper and Row Pub 1971 - 754 p.
The meaningful question today is not, "What are the basic principles of eco nomics?" but rather, "Why is economics important now?" The basic purpose of writing this book is to demonstrate that economics is a "now" subject that the facts and theory comprising the body of economic knowledge are useful and pragmatic. Indeed, perhaps more than any other branch of the social sciences, economics is about the real world, if for no other reason than that it confronts a wide variety of current problems daily.
Economics has systematically developed as a science, but it remains firmly rooted in the realm of social values and practical problems. As a science, eco nomics tests hypotheses and compares theory to real-world observations. Try as one might, economics as a science is not and cannot be made a pure or value free subject, nor can its theory prove what should be. Thus, the subject matter of economics is a combination of practical problems, scientific analysis, and political economy.
CONTENT
This text is organized around five basic parts: Part 1 is an introduction to economics and a survey of the private and public sectors of the American economy (Chapters 1-5); Part 2 analyzes economic instability-the problems of unemployment, inflation, and economic growth (Chapters 6-13); Part 3 dis cusses market-pricing problems associated with the goal of economic efficiency in the allocation of resources (Chapters 14-19); Part 4 evaluates selected eco nomic problems characteristic of the American economy in the 1970s (Chapters 20-24); and Part 5 introduces major problems in the international economy (Chapters 25-28). Tabular data and diagrammatic illustrations are presented together with the hope that the combined use of such information will facilitate understanding. Two appendixes present further refinements in economic theory. This may be desired by some instructors. Although understanding the fundamentals of economic theory is important, introductory economics can no more afford to pursue intellectual rigor indis criminately than it can afford to become a wasteland of casual and inconclusive facts. In this book, care has been taken to present the basic principles of eco nomic theory in as simplified a manner as possible. Where economic theory is unsettled, vague, or deficient, these realities have been presented openly to the student. Thus, the controversy over Monetarism and fine-tuning of the economy is given extensive treatment, the unemployment-inflation tradeoff relationship. is discussed, a full critique of price theory is presented, the viewpoints of dis senting economists are aired, and the normative and social-science perspectives of economic problems are examined.
Economics
330 WYK