Intermediate economic theory
- New York Prentice - Hall 1951
- 588 p.
Intermediate Economic Theory has been planned as a textbook for upper-division students majoring in economics or business administration. It can be used as a text for a year course or, if certain chapters are omitted, for a single quarter or semester course. Certain of the more advanced chapters may aid graduate students by providing them with a handy reference. Few books would ever be written if their authors did not believe that their publication would prove useful. Intermediate Economic Theory embraces three essential subjects of modern economic theory. Separate parts of the book are devoted to national income and to income and employment, as well as to the more conventional topics of prices, distribution, and money. Finally, the concluding part, on political economy, attempts to apply the theoretical apparatus of the book to the issue of socialism versus capitalism. Naturally, Intermediate Economic Theory does not cover each of these topics exhaustively. To do so would be to sacrifice the purpose of the book. Instructors of undergraduate students should not expect them to understand the refinements of present day doctrine on such varied topics as income and employment, prices, national income accounting, money, distribution, and the political organization of economic resources. Many Ph.D.'s are not so well equipped. The task of undergraduate work is surely to lay as complete a foundation as possible; the superstructure of economic theory can be erected later, during graduate work.