National income analysis c.2

Economics has grown so rapidly in recent years, it has in creased so much in scope and depth, and the new dominance of the em pirical approach has so transformed its character, that no one book can do it justice today. To fill this need, the Foundations of Modern Eco nomics Series was conceived. The Series, brief books written by leading specialists, reflects the structure, content, and key scientific and policy issues of each field. Used in combination, the Series provides the material for the basic one-year college course. The analytical core of economics is presented in Prices and Markets and National Income Analysis, which are basic to the various fields of application. The Price System is a more sophisticated alternative introduction to microeconomics. Two books in the Series, Evolution of Modern Economics and Economic Develop ment: Past and Present, can be read without prerequisite and can serve as an introduction to the subject.

For the third editions, the books have been thoroughly revised and updated. Topics that have come into the forefront of attention have been added or expanded. To preserve the virtues of brevity, older material has been weeded out. A new book has been added to the Series, Managerial Economics, by Farrar and Meyer, designed to show more fully how economic reasoning can be applied to decisions in the business firm.