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General Equilibrium and Welfare (Hardcover, illustrated edition)
Loot Price: R2,999
Discovery Miles 29 990
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General Equilibrium and Welfare (Hardcover, illustrated edition)
Expected to ship within 12 - 17 working days
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This major new book provides an accessible and innovative
introduction to general equilibrium analysis and associated welfare
economics. In this distinct and refreshing treatment, John Creedy
develops a simple two sector model using only diagrams and simple
mathematics to ensure that this treatment will be accessible to
students.The analysis of exchange and the gains from trade in the
context of price taking behaviour are the subject of the first part
of the book. Special attention is given to general equilibrium
supply and demand curves and, in contrast with partial equilibrium
treatments, the possibility of multiple equilibria. Trading at
disequilibrium prices, the influence of the numbers of traders and
bargaining solutions are then discussed before production is added
to the analysis and the two sector model constructed. General
Equilibrium and Welfare will be welcomed for its accessible
introduction to General Equilibrium analysis and for the strong
emphasis it places on exchange, which is closely in line with the
work of early neoclassical writers such as Jevons, Walras,
Edgeworth and Wicksell.
General
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