The fifth edition of Mastering Economics has been completely revised and updated. It takes the student through the strengths and weaknesses of the market economy, the role of the government in the economy and the UK's relationship with the European Union especially with regard to adopting the single currency. Care has been taken in selecting and explaining such economic theory considered essential to policy decisions. Each chapter is introduced with a summary of objectives and ends with self-test questions with answers given at the end of the book.
The fifth edition of Mastering Economics has been completely revised and updated. It takes the student through the strengths and weaknesses of the market economy, the role of the government in the economy and the UK's relationship with the European Union especially with regard to adopting the single currency. Care has been taken in selecting and explaining such economic theory considered essential to policy decisions. Each chapter is introduced with a summary of objectives and ends with self-test questions with answers given at the end of the book.
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Autorenporträt
JACK HARVEY has taught economics at all levels during his long career. His other books include Modern Economics and Urban Land Economics. With his son and daughter he now runs a large dairy and sheep farm in Hampshire.
Inhaltsangabe
PART 1: INTRODUCTION.- Solving the Problem of Scarcity.- PART 2: PRIVATE-SECTOR PRODUCTION.- The Operation of the Market Economy.- Demand.- Supply (i) The Structure of Industry.- Supply (ii) Costs and Profitability.- PART 3: FACTORS OF PRODUCTION AND THEIR REWARD.- The Determination of Factor Rewards.- Labour and Wages.- Capital, Land and Entrepreneurship.- PART 4: THE GOVERNMENT AND THE ALLOCATION OF RESOURCES.- Making the Most of Limited Resources.- Monopoly and Imperfect Competition.- The Provision of Goods and Services by the Public Sector.- PART 5: THE ENVIRONMENT.- Externalities and Cost-Benefit Analysis.- Protecting the Environment.- PART 6: MONEY AND FINANCIAL INSTITUTIONS.- Money and Financial Markets.- Clearing Banks.- The Bank of England.- ART 7: THE GOVERNMENT'S OVERALL MANAGEMENT OF THE ECONOMY.- Outline of Government Management Policy.- Measuring the Level of Activity: National Income Calculations.- Unemployment.- The Level of Output and Aggregate Demand: the Keynesian Explanation.- The Relationship of the Price Level and the Level of Employment.- Government Policy to Control Inflation.- Balanced Regional Development.- Economic Growth.- Public Finance.- PART 8: INTERNATIONAL TRADE.- The Nature of International Trade.- Foreign Currency Exchange Rates.- Balance of Payments Stability.- The European Union.
PART 1: INTRODUCTION.- Solving the Problem of Scarcity.- PART 2: PRIVATE-SECTOR PRODUCTION.- The Operation of the Market Economy.- Demand.- Supply (i) The Structure of Industry.- Supply (ii) Costs and Profitability.- PART 3: FACTORS OF PRODUCTION AND THEIR REWARD.- The Determination of Factor Rewards.- Labour and Wages.- Capital, Land and Entrepreneurship.- PART 4: THE GOVERNMENT AND THE ALLOCATION OF RESOURCES.- Making the Most of Limited Resources.- Monopoly and Imperfect Competition.- The Provision of Goods and Services by the Public Sector.- PART 5: THE ENVIRONMENT.- Externalities and Cost-Benefit Analysis.- Protecting the Environment.- PART 6: MONEY AND FINANCIAL INSTITUTIONS.- Money and Financial Markets.- Clearing Banks.- The Bank of England.- ART 7: THE GOVERNMENT'S OVERALL MANAGEMENT OF THE ECONOMY.- Outline of Government Management Policy.- Measuring the Level of Activity: National Income Calculations.- Unemployment.- The Level of Output and Aggregate Demand: the Keynesian Explanation.- The Relationship of the Price Level and the Level of Employment.- Government Policy to Control Inflation.- Balanced Regional Development.- Economic Growth.- Public Finance.- PART 8: INTERNATIONAL TRADE.- The Nature of International Trade.- Foreign Currency Exchange Rates.- Balance of Payments Stability.- The European Union.
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