Economics : analysis of principles and policies

The publication of this new fifth edition of ECONOMICS - AM ANALYSIS OF PRINCIPLES AND POLICIES was undertaken with the purpose of continuing to provide the student with an updated and effective tool for learning economics. Although outstanding and popular features of earlier editions have been retained, many new features have been in corporated in this revision.

The chapters in Parts I and II of the previous edition have been revised and regrouped into an enlarged and stronger Part I in an effort to integrate the aims and goals of the American economy with the structure and opera tion of an economic system.

The balance between microeconomics and macroeconomics has been retained; but in the rewriting of Part II, Prices and Price Determination, two chapters have been added as a means of distinguishing more clearly the different forms of imperfect competition. fresh presentation and analysis of oligopoly, monopolistic competition, and workable competition are features of this part.

In addition to the updating and revision of the materials in Part VI, National Income Stabilization and Growth, the latest developments in the national input-output analysis have been added to the conventional national income and flow-of-funds concepts.

Throughout the book economic principles and policies are related to current problems and events in the economy in order to show the practical aspects of economic analysis and to arouse student interest in the subject matter. In addition, the status of various aspects of our economy are ex amined in relation to specific goals and policies. In the light of a growing awareness of our international tensions, re newed emphasis has been given in Part VIII to international economics and aid by the United States to developing nation.