Introduction to economic analysis

The scope of this book is to make as comprehensive a state ment of the principles of modern economic analysis as is possible at an elementary level. It was written to form the basis of the author's own teaching in economics for Part I of the new external degree of B.Sc. (Econ.) of the University of London. No previous knowledge of the sub ject is assumed, but the level of exposition is especially suitable for the first or second year undergradu ate or the adult student who is studying economics for final profes sion examinations. Teachers of sixth forms taking economics at advanced or scholarship ievels should find the book valuable for reference.

The plan of the book is to take the problems of the income of a community and to construct and demonstrate the use of the tools of analysis nary for an examina tion of the causes determining com munal income, its distribution be tween social groups and fluctuations in both size and distribution. Only graphical mathematics are used in the body of the text and algebraic proofs are confined to the appendices. The problems of price determination in competitive and monopolistic markets, of productivity and of the laws of return are given a more detailed treatment than is customary at this stage, simple graphical methods being employed. The ex position of capital and interest theory is a compromise between the Key nesian and Scandinavian schools of thought, interest rates being ex plained as prices of loans the supplies of which are dependent on considera tion of liquidity preference.

The aim of the book is to give a coherent account of contemporary analytical technique and links with earlier theory are Driefly sketched to enable the reader to connect it with a background of history of dogma to be acquired ubsequently.