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Economics 9th edition ( A Tool for Critically Understanding Society )
Authors: Jean Shackelford, Steve Stamos, Tom Riddell, Jean A Shackelford, Stephen C Stamos, Geoffrey Schneider
Publisher: Prentice Hall
Details of the book:
Economics: A Tool for Critically Understanding Society (9th Edition) helps students of Economics to understand the basics of the subject and analyze its real world manifestation on their own. Shackelford, Riddell, Stamos and Schneider employ a historical perspective in their work and discuss economic theory in the context of numerous schools of thought. The uncomplicated style of writing and holistic explanations of fundamental economic concepts, ideas and issues help all the readers of this book to connect the theory of economics with its practical side.
This book starts with a theoretical approach to the subject of economics. It covers the subject's history, development into its current avatar and the methodology involved in the subject.
- The subject is dealt with as an integral part of the social sciences and its evolution is traced through the major time periods. The different views on economics, its relation with classical liberalism, views of Adam smith and the socialist critique of the capitalist society, are all covered in the first part, with special emphasis on the rule of Laissez-Faire (in the context of US).
- Next, the focus falls on Macro and Microeconomics. Themes covered are again wide ranging. Under macroeconomics classical theories and Keynesian approach is covered with the major issues and problems of macroeconomics. The financial market, monetary policy, global economy (policy making and stabilization), taxation governmental interventions, aggregate demand and supply, macroeconomic national problems, like unemployment and inflation are all covered individually and in relation to each other, where required. Under microeconomics issues of scarcity, market theory, competition, efficiency and inefficiency are all included. The analysis and evaluation of resource markets, income distribution, and market theory are also explained.
- Finally the international aspect of economics and finances are undertaken, thus covering international trade, finance, economic relations and interdependence and modern systems of the economy. The evolution and development of the economies of developing nations are also comprehensively covered.