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Economics 19th edition
Authors: Paul Anthony Samuelson, Paul Samuelson, Paul A Samuelson, William D Nordhaus, William Nordhaus
Details of the book:
Originally written by Samuelson, the current edition has been revised by Nordhaus. Economics is one of the most definitive texts in its field. This book first came out over 6 decades ago and is currently in its 19th edition thereby proving its timelessness, which is an effect of the principle text which was written bearing the aftereffects of the Great Depression and the World War II combined with the latest relevant revisions, omissions and additions. It provides a proper understanding of key concepts and fundamental issues involved in the subject in a non convoluted and comprehensive manner.
The book contains the following:
- Introduction to the subject and its basic topics like the current nature of mixed economy, which has penetrated almost every nation's economy.
- The basics of supply, demand, product markets, market behavior (consumer choices), competition in market (perfect and monopolistic competition) and analysis of these markets, business organization and costs.
- Market situations and effects like the function of labour market, how it fixed income distribution, capital, profits, rent and interests etc. Natural resources impacting the economy like land, environment among others are also covered.
- Economic principles and their applications like efficiency, expenditure, government intervention in the market in the form of taxation and expenditure etc.
- The final segments emphasize on topics of macroeconomics and international trade. To name a few - macroeconomics - investment, aggregate demand and supply, consumption, unemployment, inflation, money market, monetary policy and measurement of economic activities. International trade topics cover exchange rates, global economy and trade as well as international financing.