图书简介
This book reinforces an understanding of Economics by showing how basic mathematics is used to construct models of the economy. By taking wide-ranging examples drawn for virtually all areas of economics, it shows how model-building is an indispensable aid to understanding economics.The mathematical techniques used in the book are fairly rudimentary — optimisation methods and equation-solving are the primary tools used. A brief explanation of constrained optimisation using Lagrange multipliers is provided. Throughout, the emphasis is on how these techniques are fruitfully deployed in constructing economic models and solving economic problems. It bridges the gap between mathematical analysis and economic logic. For readers, it builds confidence in constructing their own models for purposes of analysis. The book is well-suited for self-study.Key FeaturesThe choice of topics and the style of writing are driven by studentsThe book features a step-by-step approach from assumptions to conclusionsThis book covers most areas of economics within Microeconomics and Macroeconomics
Fundamental Concepts of Consumer Theory: Budget Sets; Consumer Preferences; Utility and Preferences; Summary; Consumer Optimum and Demand: Consumer Optimum; Demand Analysis; Demand and Decomposition; Some Special Cases; Responsiveness of Demand; Summary; Generalisations, Applications and Extensions of the Choice Model: Labour Supply; Endogenous Income; Summary; The Firm — Technology, Costs and Supply: Technology; Costs and Technology; Costs — Total, Average and Margin Functions; Costs in the Short and Long Run; The Significance of Fixed Costs; The Supply Curve of the Firm; Summary; Demand, Supply and the Competitive Market: The Market Demand and Supply Curves; Elasticity — Alternate Measures and Applications; Short Run Equilibrium Price; Consumer and Producer Surplus; Taxation and Competitive Markets; Long Run Equilibrium in Competitive Markets; Summary; Market Power and Imperfect Competition: Monopoly; Duopoly and Oligopoly; Discriminating Monopoly; Summary; Inter Temporal Economics: Discounting, Interest Rate and Budget Line; Discounting and Preferences; Inter Temporal Consumer Optimum; Saving and Investment; Summary; Co-Ordination of Exchange and Production: Exchange; Efficiency and Planning; The Contract Curve and Welfare Theorems; Production and Planning — the Robinson Crusoe Economy; Production and Competition in the Robinson Crusoe Economy; Efficiency and Competition with Increasing Returns; Externalities and the Environment; Summary; Macroeconomic Concepts and Measurement: National Income; Comparing National Incomes; Inflation; Labour Market Measures; Measuring Economic Growth; Summary; Equilibrium and Comparative Statics in Macro Models: Behavioural Equations, Structure and Reduced Form; The Method of Comparative Statics; More Complex Models; Summary; The Classical Labour Market: Labour Demand; Labour Supply; Market Equilibrium; Unemployment; Summary; The Classical Model of Money, Interest, and the Price Level: The Goods Market; Real and Nominal Rates of Interest; Money and the Price Level; Overview and Classical Dichotomy; Summary; Sticky Prices and Keynesian Macroeconomics: The Simple Keynesian Model; Investment Functions and Goods Market Equilibrium; The Money Market; Output and Employment in the Generalised Keynesian Model; Fiscal Policy; Summary; Monetary Economics: Changing the Money Supply; Changing the Interest Rate; Aggregate Supply, Aggregate Demand and Inflation; Summary; Open Economy Macroeconomics: Exchange Rates; Exports, Imports and Capital Flows; The Open Macroeconomy — Floating Exchange Rates; The Open Macroeconomy — Fixed Exchange Rates; Summary; Capital Accumulation and Economic Growth: Basic Growth Concepts; Production and Technology; Capital Accumulation; Steady State and Dynamics; The Golden Rule; Summary
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