| Author: |
|
James F. Willis
|
| Title: |
 |
Explorations in Macroeconomics |
| Moochable copies: |
|
No copies available |
| Amazon suggests: |
|
| Topics: |
|
| Published in: |
|
English |
| Binding: |
|
Paperback |
| Pages: |
|
|
| Date: |
|
2002-06 |
| ISBN: |
|
1931910006 |
| Publisher: |
|
North West Pub Llc |
| Weight: |
|
3.0 pounds |
| Size: |
|
8.3 x 9.8 x 1.1 inches |
| Edition: |
|
5 |
Amazon prices: |
|
|
|
|
|
| Description: |
|
Product Description
The vast majority of today's economic societies are market economies, ones in which private buyers and sellers interact to make choices about what to produce, and to create the prices at which voluntary exchanges between the two groups will occur. The study of how this individual disaggregated economy works is called microeconomics. It is based on assumptions about human behavior as well as on assumptions about the constraints humans face in seeking to solve economic problems. It is with that background to the "economic way of thinking" that we begin this text and the course in macroeconomics in which you are enrolled. This microeconomics introduction to the macroeconomy is developed in four chapters. In chapter 1, you're introduced to the most fundamental of economic problems, scarcity, or the inability of society to satisfy all material wants. In chapter 2, we see how attempts to solve the problem of scarcity have resulted in widely varying levels of economic development among nations. In chapter 3, you will see how markets, the institutional arrangements through which buyers and sellers make exchanges, allocate a society's scarce resources through the guidance of prices. Finally, in chapter 4 you will see who are the players in both the microeconomy and the macroeconomy. The economic roles of households, business firms, and governments are examined. The role of international trade, or that of exports and imports, is briefly introduced as well.
|
| URL: |
|
http://bookmooch.com/1931910006 |
|
|
