Principles of Economics 10th edition
Authors: Karl E Case, Ray C Fair, Sharon M Oster, Sharon Oster, Sharon C Oster
Publisher: Prentice Hall
Details of the book:
Ask any student of economics what is the most basic book they refer to for the subject and the answer will be a principles of economics book. So it is most essential that the text to be referred to on this topic be one which is both simple so as to not confuse beginners, yet rigorous so as to not leave any portion of the required knowledge lacking. Case, Fair and Oster's book is one such largely relied upon book on principles of economics, which is prescribed by numerous teachers world around.
Readers of this text have been known to benefit from its content given its clear, comprehensive and concise approach to tackling the most fundamental issues and concepts of the subject. One of the chief benefits that come from reading this text is the knowledge regarding the work process of market economies. In fact the book helps students understand all aspects related to the market processes including its positive and negative outcomes, successes and failures. The students of this text begin to relate to both the empirical and normative side of economic thought and this in turn begins to affect not only their assessment of the global and local economic policies, but also how they take certain economic decisions in their own personal lives. Thus this text enables a student to situate himself in the centre of the global and local, and look into all economic intra-relations and interrelations from the perspective of the individual as well as a collective order.
The book contains the following:
The book begins with an introduction to the subject and goes on to explore the method and scope involved in its study.
All important macro and microeconomics related topics are covered given the focus of the book is the introduction to the principles of the subject. Thus topics like market equilibrium, demand and supply, market system, consumer choices, production process, role of government in the economic sector and the market place are well covered. Other topics include the likes of monopoly, oligopoly, inequalities in income distribution, poverty, employment, growth unemployment, money demand and supply, fiscal and monetary policies with their long and short term implications of it all. Further issues of macroeconomics covered by the text include issues like financial crises, growth in the long term, in depth analysis of the role of firms and individuals in the macroeconomic platform. Issues of from the global stage are also tackled adequately as topics like International Trade, Protectionism, exchange rates, balance of payments and developing markets from the world around are also covered.