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Principles of Economics is a comprehensive textbook for undergraduate and postgraduate students. The book begins with a simple introduction to economics as a social science, moves on to basic economic problems of individuals, firms and the society focusing on the problem of scarcity and choice, and finally discusses the higher levels of economic theories. Students of engineering and medical courses who have virtually no prior subject knowledge and have to clear an economics paper will find this book a boon.
Part-I: Introduction: 1. Introduction to Economics, 2. Elasticities of Demand and Supply, 5. Market Equilibrium and Disequilibrium, 6. Recent Development in Consumption Theory, Optimum Combination of Inputs, Objectives of Business Firms and Market Structure, Price and Output Determination under Perfect Competition, Price and Output Determination Under Monopoly, Price and Output Under Monopolistic Competition, Price and Output Determination under Oligopoly, Theory of Wage Determination, Rent, Quasi-Rent and Economic Rent, Theories of Interest, Theories of Profit, The General Equilibrium, Introduction to Macroeconomics, National Income: Concept and Measurement, Theory of National Income Determination, Income Determination with Government and Foreign Trade, Theories of Aggregate Consumption, Keynesian Theory of Interest, Modern Theories of Economic Growth, Business Cycles and Stabilisation, Inflation: Meaning, Measure and Effects, The Theory of International Trade, The Heckscher-Ohlin Theory of Trade, Trade Policy: Free Trade Vs.
Trade Protection, Trade Barriers: Tariffs and Quota, The Rate of Foreign Exchange, Balance of Payments: Disequilibrium and Adjustment, International Monetary System.
Principles of Economics, 2/e
Macroeconomics: Theory and Policy