About this book
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Table of Contents
PART 1: INTRODUCTION
- What Economics is About
- Methods of Allocating Resources
PART 2: WHAT TO PRODUCE
- How Price is Formed in the Free Market
- Applications of Demand and Supply Analysis
- A Further Look at Demand
PART 3: HOW TO PRODUCE - THE THEORY OF PRODUCTION
- The Firm
- The Organisation and Scale of Production
- The Distribution of Goods to the Consumer
- Combining the Factors of Production
- Deciding on the Most Profitable Output
- The Supply Curve of the Industry under Perfect Competition
- Rewarding the Factors of Production: The Marginal Productivity Theory of Distribution
PART 4: THE GOVERNMENT AND THE ALLOCATION OF RESOURCES
- Market Failure and the Role of Government
- Monopoly
- Imperfect Competition: Other Forms
- Externalities and Cost-Benefit Analysis
- The Environment: Conservation and Pollution
- The Provision of Goods and Services by the Public Sector
PART 5: REWARDS TO THE DIFFERENT FACTORS OF PRODUCTION
- Labour and Wages
- Capital and Interest
- Land and Rent
- Entrepreneurship and Profit
PART 6: MONEY AND FINANCIAL INSTITUTIONS
- Money and the Rate of Interest
- Financial Markets
- Clearing Banks
- The Bank of England
PART 7: THE GOVERNMENT AND STABILISATION POLICY
- Measuring the Level of Activity: National Income Calculations
- Unemployment
- The Level of Output and Aggregate Demand: The Keynesian Explanation
- Employment and the Price Level
- Inflation: Its Effects
- Policies to Achieve Price Stability
- Economic Growth
- Balanced Regional Development
- Public Finance
PART 8: INTERNATIONAL TRADE
- The Nature of International Trade
- The Balance-of-Payments
- Foreign Exchange Rates
- The Correction of a Balance-of-Payments Disequilibrium
- The European Union
PART 9: LOOKING INTO THE FUTURE
- The Population of the UK
- Current Problems and Policies in the UK and Europe