This revised and updated edition has new statistical and empirical material and introduces open economics at an earlier stage to reflect teaching methods. The key feature of this book is its integrated approach - macroeconomic themes such as inflation, unemployment and balance of payments are built up from their microeconomic foundations. It also gives a new exposition on the open economy and uses real examples to illustrate the concepts. This book focuses on the theoretical underpinnings of economics, providing comprehensive coverage of major issues, and of the methods economists use to study them. The book assumes no previous knowledge and no advanced mathematical ability. In addition to the full range of basic topics, the author addresses controversial issues including: open economies and international debt, monetarism versus Keynesianism, persistent inflation and unemployment, uncertainty and expectations, flexible and "sticky" prices, planned economies and public choice.
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"Lucid, carefully written and pleasantly laid out. The coverage is comprehensive." Times Educational Supplement
The second edition of John Craven′s Introduction to Economics retains the key feature of the first edition – its integrated approach. Macroeconomic themes such as inflation, unemployment and the balance of payments are built up from their microeconomic foundations reflecting an increasing demand amongst teachers for a move away from the traditional rigid division between macro– and microeconomics.
For the second edition all data and empirical material have been thoroughly updated and the section on the open economy has been expanded and integrated into the discussion of policy.
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