Table of contents:
PART 1 INTRODUCTION
1. THE SUBJECT MATTER OF ECONOMICS
2. THE MARKET
1. Isolated Bargaining
2. Competitive Bargaining
3. Perfect Competition
4. Price Setting
5. The Types of Competition among Price Makers
6. Bilateral Monopoly
7. Trade on Prescribed Terms
PART 2 THE PRICE TAKER'S BEHAVOUR AND PERFECT COMPETITION
3. THE CONSUMER
1. The Indifference Map
2. The Income-Consumption Curve
3. The Price-Consumption Curve
4. Complementary and Substitutability
5. The Importance of Time and Habit
4. THE CONSUMERS' MARKET AND THE NOTION OF ECONOMIC EFFICIENCY
1. The Efficiency of Distribution
2. Equity and Efficiency
NOTE TO CHAPTER 4: Productivity Efficiency and the Size of the National Product
5. THE WORKER AND THE EFFICIENCY OF THE LABOUR MARKET
1. The Worker's Choice between Work and Leisure
1a. The Income-Offer Curve
1b. The Price-Offer Curve
2. Allocation of Work within One Occupation
3. The Worker's Choice of Occupation
4. The Specialization among Workers
5. An Alternative Approach
6. The Distribution of Income Paid for Personal Services
6. THE FIRM
1. The Production Function
7. THE FIRM (Continued): THE MARKET BEHAVOUR OF THE FIRM
1. The Combination of Productive Factors
2. The Determination of the Firm's Output
3. The Combination of Products
4. The Firm's Offer of Products
5. Technical Complementarity and Substitutability
6. The Firm's Demand for Factors
NOTE TO CHAPTER 7: The Entrepreneur
8. THE EFFICIENCY OF PRODUCTION
1. The Technological Efficiency of the Firm
2. The Technological Efficiency of the Industry
2a. The Efficient Allocation within the Industry
2b. The Average Technological Efficiency of the Industry's Members
3. The Economic Efficiency of the Firm
3a. The Efficient Combination of Products
3b. The Efficient Combination of Factors
3c. The Efficient Rate of Production
3d. The General Case
4. The Economic Efficiency of the Industry
5. The Economic Efficiency of Allocation between Industries
6. The General Efficiency of the Perfectly Competitive Economy
NOTE TO CHAPTER 8: The Distinction between Social and Private Marginal Value and Product
9. CAPITAL
1. Entrepreneurship as a Factor Limiting the Size of the Firm
2. Capital as a Factor of Production
2a. The Willingness to Borrow
2b. The Willingness to Lend
3. Capital as a Factor of Production
4. The Investment Policy of the Firm
5. The Allocation of Capital
6. The Scarcity of Capital and Its Remuneration
10. THE STABILITY OF PERFECT COMPETITION
1. The Subject Matter of Dynamic Economics
2. Stability and Dynamic Efficiency
3. Speculation
PART 3 THE PRICE MAKER'S BEHAIVOUR AND FREE COMPETITION
11. THE PRINCIPLES OF THE PRICE MAKER'S BEHAIVOUR
1. The Seller
2. The Buyer
12. THE STABILITY OF THE PRICE MAKER'S BEHAVIOUR
1. The Stabilizing Factors
2. The Cost of Change
2a. Adaptation to a Permanently Changed Situation
2b. Adaptation to Transitory Changes
3. The Indivisibility of Productive Resources
3a. Adaptation to a Permanently Change Situation
3b. Adaptation to Transitory Changes
4. The Turnover Leg
4a. Adaptation to a Permanently Change Situation
4b. Adaptation to Transitory Changes
5. The Planning Period
13. THE PROFIT MARGIN
1. The Price Elasticity of the Market
2. The Problem of Estimation
3. The Other Aspect of the Price Maker's Market Offer
14. THE COST OF PRODUCTION
1. The Cost of Elements
2. The Cost Basis of the Producer's Market Offer
3. The Cost Basis of the Producer's Expansion Policy
15. THE CONDITIONS OF FREE COMPETITION
1. Factors Favourable to Competition
1a The Competitive Spirit
1b Large Numbers, Similarity of Size & Changing Membership
1c Limits to the Size of the Firm: Capital
1d Limits to the Size of the Firm: Entrepr
Dealing with general economic theory, other than employment theory, the book discusses the theory of pure and monopolistic competition - with a special emphasis upon welfare aspects. Beginning with an analysis of the consumer and of the individual firm, the main stress is nevertheless placed on the analysis of the economic system as a whole.
Dealing with general economic theory, other than employment theory, the book discusses the theory of pure and monopolistic competition - with a special emphasis upon welfare aspects.
PART 1 INTRODUCTION
1. THE SUBJECT MATTER OF ECONOMICS
2. THE MARKET
1. Isolated Bargaining
2. Competitive Bargaining
3. Perfect Competition
4. Price Setting
5. The Types of Competition among Price Makers
6. Bilateral Monopoly
7. Trade on Prescribed Terms
PART 2 THE PRICE TAKER'S BEHAVOUR AND PERFECT COMPETITION
3. THE CONSUMER
1. The Indifference Map
2. The Income-Consumption Curve
3. The Price-Consumption Curve
4. Complementary and Substitutability
5. The Importance of Time and Habit
4. THE CONSUMERS' MARKET AND THE NOTION OF ECONOMIC EFFICIENCY
1. The Efficiency of Distribution
2. Equity and Efficiency
NOTE TO CHAPTER 4: Productivity Efficiency and the Size of the National Product
5. THE WORKER AND THE EFFICIENCY OF THE LABOUR MARKET
1. The Worker's Choice between Work and Leisure
1a. The Income-Offer Curve
1b. The Price-Offer Curve
2. Allocation of Work within One Occupation
3. The Worker's Choice of Occupation
4. The Specialization among Workers
5. An Alternative Approach
6. The Distribution of Income Paid for Personal Services
6. THE FIRM
1. The Production Function
7. THE FIRM (Continued): THE MARKET BEHAVOUR OF THE FIRM
1. The Combination of Productive Factors
2. The Determination of the Firm's Output
3. The Combination of Products
4. The Firm's Offer of Products
5. Technical Complementarity and Substitutability
6. The Firm's Demand for Factors
NOTE TO CHAPTER 7: The Entrepreneur
8. THE EFFICIENCY OF PRODUCTION
1. The Technological Efficiency of the Firm
2. The Technological Efficiency of the Industry
2a. The Efficient Allocation within the Industry
2b. The Average Technological Efficiency of the Industry's Members
3. The Economic Efficiency of the Firm
3a. The Efficient Combination of Products
3b. The Efficient Combination of Factors
3c. The Efficient Rate of Production
3d. The General Case
4. The Economic Efficiency of the Industry
5. The Economic Efficiency of Allocation between Industries
6. The General Efficiency of the Perfectly Competitive Economy
NOTE TO CHAPTER 8: The Distinction between Social and Private Marginal Value and Product
9. CAPITAL
1. Entrepreneurship as a Factor Limiting the Size of the Firm
2. Capital as a Factor of Production
2a. The Willingness to Borrow
2b. The Willingness to Lend
3. Capital as a Factor of Production
4. The Investment Policy of the Firm
5. The Allocation of Capital
6. The Scarcity of Capital and Its Remuneration
10. THE STABILITY OF PERFECT COMPETITION
1. The Subject Matter of Dynamic Economics
2. Stability and Dynamic Efficiency
3. Speculation
PART 3 THE PRICE MAKER'S BEHAIVOUR AND FREE COMPETITION
11. THE PRINCIPLES OF THE PRICE MAKER'S BEHAIVOUR
1. The Seller
2. The Buyer
12. THE STABILITY OF THE PRICE MAKER'S BEHAVIOUR
1. The Stabilizing Factors
2. The Cost of Change
2a. Adaptation to a Permanently Changed Situation
2b. Adaptation to Transitory Changes
3. The Indivisibility of Productive Resources
3a. Adaptation to a Permanently Change Situation
3b. Adaptation to Transitory Changes
4. The Turnover Leg
4a. Adaptation to a Permanently Change Situation
4b. Adaptation to Transitory Changes
5. The Planning Period
13. THE PROFIT MARGIN
1. The Price Elasticity of the Market
2. The Problem of Estimation
3. The Other Aspect of the Price Maker's Market Offer
14. THE COST OF PRODUCTION
1. The Cost of Elements
2. The Cost Basis of the Producer's Market Offer
3. The Cost Basis of the Producer's Expansion Policy
15. THE CONDITIONS OF FREE COMPETITION
1. Factors Favourable to Competition
1a The Competitive Spirit
1b Large Numbers, Similarity of Size & Changing Membership
1c Limits to the Size of the Firm: Capital
1d Limits to the Size of the Firm: Entrepr
Dealing with general economic theory, other than employment theory, the book discusses the theory of pure and monopolistic competition - with a special emphasis upon welfare aspects. Beginning with an analysis of the consumer and of the individual firm, the main stress is nevertheless placed on the analysis of the economic system as a whole.
Dealing with general economic theory, other than employment theory, the book discusses the theory of pure and monopolistic competition - with a special emphasis upon welfare aspects.