Cairncross / Sinclair Introduction to Economics

6. Auflage 2014
ISBN: 978-1-4831-0276-4
Verlag: Elsevier Science & Techn.
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 478 Seiten, Web PDF

Introduction to Economics, Sixth Edition gives a general and nonmathematical introductory approach to the field of economics. The monograph also updates the reader with economic issues over the years and modern economic analysis. The book is divided into seven parts. Part I includes basic topics such as the aim and purpose of economics; production, consumption, and trade; and the factors of production. Part II discusses industrial organization; growth, transformation, and development; localization of industry; and large-scale production. Part III tackles the dynamics of supply and demand, while Part IV talks about the distribution of income, wages, interest, and profit. Part V deals with the national income; expenditure, production, and income in a closed economy; and inflation. Part VI discusses international trade and finance, and Part VII covers the establishment of economic policies and its inherent problems. The text is recommended for economics students who need a good foundation of different principles and concepts in economics as well as their real-world applications.

Autoren/Hrsg.

Cairncross, Alec

Sinclair, Peter

Inhaltsverzeichnis

1;Front Cover;1
2;Introduction to Economics;4
3;Copyright Page;5
4;Table of Contents;8
5;Preface;6
6;List of Figures;10
7;List of Tables;12
8;Part I: Introductory;14
8.1;Chapter 1. What economics is about;16
8.1.1;Plan of the book;17
8.1.2;What is economics about?;18
8.1.3;The value of economic studies;23
8.2;Chapter 2. Production, consumption and trade;25
8.2.1;Production;25
8.2.2;Consumption;25
8.2.3;Utility;26
8.2.4;Unpaid services;26
8.2.5;Trade;27
8.2.6;The structure of production;28
8.2.7;Business units;30
8.2.8;The public sector;32
8.2.9;The market;33
8.3;Chapter 3. The factors of production;34
8.3.1;Factors as physical things;34
8.3.2;Factors as services;35
8.3.3;Enterprise as a factor;36
8.3.4;Financial assets as a factor;36
8.3.5;Labour;37
8.3.6;Land;46
8.3.7;Capital;53
8.3.8;The factors of production and productivity;57
9;Part II: Industrial organization;60
9.1;Chapter 4. Growth, transformation and development;62
9.1.1;Growth;62
9.1.2;Development;66
9.2;Chapter 5. Localization of industry;72
9.2.1;Natural advantages;74
9.2.2;Acquired advantages;76
9.2.3;Comparative advantages;77
9.2.4;Cumulative advantages;78
9.3;Chapter 6. Large-scale production;83
9.3.1;External economies;84
9.3.2;Internal economies;85
9.3.3;The logic of large-scale production;95
9.4;Chapter 7. Small-scale production;102
9.4.1;Managerial obstacles;105
9.4.2;Market obstacles;106
9.4.3;Financial obstacles;110
9.5;Chapter 8. The finance of large-scale production;112
9.5.1;Public companies;113
9.5.2;Shares and shareholders;114
9.5.3;Private companies;114
9.5.4;The capital market;114
9.5.5;Investment and risk;115
9.5.6;Diffusion of ownership;117
9.5.7;Speculation;118
9.5.8;Concentration of power;119
9.5.9;Division of interests;120
9.5.10;The joint-stock company and the control of industry;121
9.6;Chapter 9. The growth of business units;123
9.6.1;Motives and methods;124
9.6.2;Motives to growth;126
9.6.3;Methods of growth;133
9.6.4;Direction of growth;139
9.6.5;Growth and public policy;145
10;Part III: Supply and demand;146
10.1;Chapter 10. The price mechanism;148
10.1.1;Capitalism;148
10.1.2;The price mechanism under capitalism;149
10.1.3;Government control;150
10.1.4;The function of prices;151
10.1.5;The theory of price or value;152
10.1.6;The importance of social institutions;152
10.1.7;Price and value;153
10.1.8;The labour theory of value and costs of production;153
10.2;Chapter 11. Supply and demand;156
10.2.1;Supply and demand curves;157
10.2.2;Changes in demand and supply;158
10.2.3;Elasticity;160
10.2.4;The measurement of elasticity;162
10.2.5;Elasticity of demand and substitution;164
10.2.6;Practical importance of elasticity;165
10.2.7;Elasticity of supply;165
10.2.8;Elasticity and time;166
10.2.9;Fluctuation in prices;167
10.2.10;Instability;168
10.2.11;Difficulties in the construction of demand and supply curves;169
10.3;Chapter 12. Demand;171
10.3.1;The major influences on demand;171
10.3.2;The Principle of Substitution;172
10.3.3;Indifference curve analysis;173
10.3.4;Some problems;177
10.4;Chapter 13. Supply: cost and price;179
10.4.1;Marginal cost;179
10.4.2;Cost under perfect competition in the individual firm;180
10.4.3;Marginal and average cost;181
10.4.4;Marginal cost and price;182
10.4.5;Average cost and price;183
10.4.6;Monopoly costs and prices;184
10.4.7;Price and marginal revenue;184
10.4.8;Perfect competition as a limiting case;186
10.4.9;A measure of monopoly;187
10.4.10;Price and average cost in a competitive industry;187
10.4.11;Price and average cost under monopoly;189
10.4.12;The logic and the facts: cost-plus pricing;189
10.5;Chapter 14. Monopoly and competition;192
10.5.1;Elements of competition under monopoly;192
10.5.2;Perfect competition;193
10.5.3;Elements of monopoly;194
10.5.4;Prices and cost under imperfect competition;196
10.5.5;Price-competition and service-competition;197
10.5.6;Selling costs;197
10.5.7;Profits under imperfect competition;198
10.5.8;Restrictions to entry;199
10.5.9;Conclusions as to profits under imperfect competition;200
10.6;Chapter 15. Supply: cost in relation to output and time;202
10.6.1;The meaning of cost;203
10.6.2;Cost and rent;204
10.6.3;Scarcity, heterogeneity, mobility;204
10.6.4;Relative scarcity;204
10.6.5;The law of diminishing returns;205
10.6.6;Increasing and diminishing returns;208
10.6.7;The gradual approach to equilibrium;209
10.6.8;The very short period;210
10.6.9;The short period;210
10.6.10;Overhead costs;211
10.6.11;The long period;212
10.6.12;Marginal cost in short and long periods;213
10.6.13;Shut-down costs;213
10.6.14;Marginal firms in the short period;214
10.6.15;Summary;214
10.7;Chapter 16. Interrelationships of supply and demand;215
10.7.1;Inter-connections between demand and supply;216
10.7.2;The marginal cost of joint products;217
10.7.3;Joint products from the point of view of the firm1;218
10.7.4;Price discrimination;219
10.7.5;Joint products from the point of view of society;220
10.8;Chapter 17. Social aspects of pricing;222
10.8.1;Marginal cost pricing;222
10.8.2;Some wider considerations;225
10.8.3;Private and social values;227
10.8.4;Private values and state intervention;227
11;Part IV: The distribution of income;230
11.1;Chapter 18. The distribution of income;232
11.1.1;Economic inequality;232
11.1.2;Supply;233
11.1.3;Demand;238
11.1.4;Monopoly;248
11.2;Chapter 19. Wages;250
11.2.1;Competitive influences;250
11.2.2;Bargaining influences;256
11.3;Chapter 20. Interest and profit;267
11.3.1;Interest;267
11.3.2;The supply of capital;267
11.3.3;The demand for capital;274
11.3.4;The rate of interest;279
11.3.5;Profit;280
12;Part V: Income, employment and money;288
12.1;Chapter 21. The national income1;290
12.1.1;Expenditure, production and income in a closed economy;290
12.1.2;Real demand influences on expenditure;291
12.1.3;Total expenditure;296
12.1.4;The role of money and interest rates in determining aggregate demand;299
12.1.5;Aggregate supply;305
12.1.6;Keynesian and monetarist views about aggregate demand and aggregate supply;307
12.2;Chapter 22. Fluctuations in the national income: unemployment and the trade cycle;309
12.2.1;Unemployment;309
12.2.2;The trade cycle;314
12.3;Chapter 23. Inflation;321
12.3.1;The importance of monetary stability;321
12.3.2;Index numbers;322
12.3.3;The consequences of changes in the value of money;323
12.3.4;The causes of inflation;326
12.3.5;Demand inflation and cost inflation;333
12.4;Chapter 24. The demand for money;338
12.4.1;A definition of money;338
12.4.2;Money as a medium of exchange;338
12.4.3;Money as a store of value;339
12.4.4;Money as a measure of value;339
12.4.5;Money as a standard of deferred payments;340
12.4.6;The demand for money;340
12.4.7;Hoarding;343
12.4.8;Liquidity and interest rates;344
12.5;Chapter 25. The supply of money;346
12.5.1;Bank money;346
12.5.2;Money and other liquid assets;347
12.5.3;Bank money and credit creation;347
12.5.4;Credit control in Britain;354
12.5.5;International influences on the money supply;359
12.5.6;Euro-currencies;360
12.6;Chapter 26. British financial institutions1;363
12.6.1;The main financial intermediaries;365
12.6.2;The Bank of England;377
13;Part VI: International trade and finance;380
13.1;Chapter 27. International trade;382
13.1.1;The reasons for international trade;382
13.1.2;The hypothesis of comparative advantages in technology;382
13.1.3;International trade and diversity of resources;385
13.1.4;The gains from trade and the terms of trade;388
13.1.5;Trade restrictions and trade policy;390
13.2;Chapter 28. The balance of payments;393
13.2.1;Reserves;398
13.2.2;International liquidity;399
13.2.3;A dollar standard;401
13.2.4;An IMF unit;402
13.3;Chapter 29. The mechanism of international adjustment;404
13.3.1;Pressures on the balance of payments;404
13.3.2;The mechanism of adjustment in the balance of payments;405
13.3.3;The mechanism of adjustment under gold standard conditions;407
13.3.4;Devaluation;411
13.3.5;The mechanism of adjustment with floating exchange rates;412
13.3.6;Purchasing power parity;412
13.3.7;Cumulative movements in exchange rates;415
13.3.8;Exchange control;416
13.3.9;The International Monetary Fund;417
14;Part VII: Economic policy;420
14.1;Chapter 30. The role of government;422
14.1.1;The market and the state;422
14.1.2;Market forces and economic organization;423
14.1.3;The long-term trend towards regulation and control;424
14.1.4;The justification of an active economic policy;426
14.1.5;War and state intervention;426
14.1.6;The emergence of a managed economy;427
14.1.7;Management and planning;428
14.1.8;Alternative systems of economic planning;429
14.1.9;Incentives and compulsion;430
14.1.10;Central economic planning;431
14.1.11;Planning in underdeveloped countries;431
14.1.12;The technique of planning;432
14.1.13;Development programmes;434
14.2;Chapter 31. Some problems of economic policy;437
14.2.1;Stabilization policy;437
14.2.2;Monetary policy;451
14.2.3;Control of industry;455
14.2.4;Inequality and social welfare;460
15;Appendix: Sources of British economic statistics;466
16;Index;470