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General Equilibrium Analysis - A Micro-Economic Text (Hardcover)
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General Equilibrium Analysis - A Micro-Economic Text (Hardcover)
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Total price: R4,630
Discovery Miles: 46 300
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This is a new kind of textbook in microeconomic theory. In place of
the usual concentration on partial equilibrium analysis and
discussion of a standard series of topics, the authors seek to
introduce the student from the start to the general equilibrium
approach to microeconomics, in the form of the two-sector model.
This model is then applied to a variety of subjects in different
special fields of economic analysis: welfare economics,
international trade, public finance and income distribution. This
book represents a very different approach to the teaching of
micro-economic theory than normally followed, and one that will be
of greater long-run value to the serious student of economics. In
place of the usual textbook development of the subject as
traditionally conceived through topics of increasing complexity and
analytical difficulty, using partial equilibrium techniques of
analysis, the book concentrates on the exposition and application
of a more logically integrated set of tools that have been found of
greater use in the analysis of problems arising not only in
traditional micro-economics but also in a number of fields of
economics that have customarily been hived off into separate
specialized advanced courses. General Equilibrium Analysis starts
with the description of the two-sector model and how these two
sectors are built based on the individual micro-units in which they
made up of and how they fit into the concept of the circular flow
of income. Subsequent chapters deal with the evaluation of changes
in factor endowment, demand preferences and technical progress by
means of the model; and the theory of government, which includes
both the theory of government expenditure, or public goods, and the
theory of government tax and/or subsidy programmes-changes in
budgetary scale, tax substitution and expenditure substitution. The
model is then extended to an open economy-the so-called "two by two
by two"--to consider both the normative effect of international
trade and the possible determinants of international trade, with
special attention being given to the relationship between commodity
trade and factor mobility. Lastly this model is opened into a
dynamic model of growth with its emphasis on requirements for the
economy to maximize consumption per head on its long-run
equilibrium growth path, and the effect of international trade on
the growth path itself.
General
Imprint: |
Routledge
|
Country of origin: |
United Kingdom |
Release date: |
August 2017 |
First published: |
1974 |
Authors: |
Harry G Johnson
|
Dimensions: |
229 x 152mm (L x W) |
Format: |
Hardcover
|
Pages: |
343 |
ISBN-13: |
978-1-138-52418-7 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
1-138-52418-2 |
Barcode: |
9781138524187 |
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