Money, income and employment

The present volume concludes my Introduction to Economic Theory. seen at a glance from the Table of Contents. I obviously had to limit myself in selecting material for this book; one cannot expect an encyclopaedic introduction to the present state of economic theory. Nevertheless, it is the function of an introduction to make the reader familiar with all those tools of theory which are necessary for the analysis of economic reality. Since this work attempts to acquaint the reader with the contents of the tool-box of theory, this box must contain all the indispensable tools. In this respect I have striven after completeness and thoroughness; and in this sense this third volume concludes the Introduction. Beyond this, I think that this work as a whole not only introduces the reader to the mode of thinking and working in modern theory, but also offers a general view of its main problems, and, in this connection, shows how the tools of theory may be employed to deal with concrete problems. Anyone who has mastered the method of thinking developed in this work will also have at his disposal tools for the analysis of problems not treated here.

In the preparation of this volume I have been guided by the same considerations as in the case of the first two volumes. Professional criticism has confirmed in a friendly manner that the method I have adopted has proved useful. It gives the student the insight into theoretical thought and work without which neither an understanding of economic events, nor a fruitful study of contemporary domestic and foreign technical literature, is possible.
This work is the fruit of long teaching experience, and the result of my striving to facilitate the student's understanding of modern economic theory. I owe sincere thanks to all my colleagues who have stimulated and encouraged me in my endeavours. I also owe thanks to my students who, through questions and discussion, have drawn my attention to those points which students find particularly difficult to understand and which therefore require particularly careful exposition.