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Economics Private and Public Choice

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by James D. Gwartney
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Economics Private and Public Choice by James D. Gwartney

Economics: Private and Public Choice is an aid for students and general readers to develop a sound economic reasoning. The book discusses several ways to economic thinking including six guideposts as follows: (i) scarce goods have costs; (ii) Decision-makers economize in their choices; (iii) Incentives are important; (iv) Decision-makers are dependent on information scarcity; (v) Economic actions can have secondary effects; and (vi) Economic thinking is scientific. The book explains the Keynesian view of money, employment, and inflation, as well as the monetarist view on the proper macropolicy, business cycle, and inflation. The book also discusses consumer decision making, the elasticity of demand, and how income influences demand. The text analyzes costs and producer decisions, the firm under pure competition, and how a competitive model functions. The book explains monopoly, and also considers the high barriers that prevent entry such as legal barriers, economies of scale, and control over important resources. The author also presents comparative economic systems such as capitalism and socialism. This book can prove useful for students and professors in economics, as well as general readers whose works are related to public service and planning in the area of economic development.

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Ebook Details
Pages: 678
Size: 207.3 MB
Publisher: Academic Press
Date published:   2013
ISBN: 9781483264301 (DRM-PDF)

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This product is listed in the following categories:

Nonfiction > Business & Economics > Reference
Nonfiction > Business & Economics > Economics

This author has products in the following categories:

Nonfiction > Business & Economics > Reference
Nonfiction > Business & Economics > Economics
Nonfiction > Social Science
Nonfiction > Political Science > Economic Conditions
Nonfiction > Business & Economics > Economics > Macroeconomics
Nonfiction > Business & Economics > Personal Finance

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