Principles Of Economics

Principles Of Economics
44% Off

Principles Of Economics

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Publisher: Vikas Publishing
ISBN: 9788125916512
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Availability: In Stock
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About this eBook

Preface to the Second Edition Although basic principles of economics remain the same as delineated in the first edition of this book, the need for bringing out its second edition was felt for three reasons. First, Principles of Economics is being reintroduced in the economics syllabi of various universities. The way these syllabi were designed it created an impression that there are two kinds of economics microeconomics and macroeconomics with some specialized branches. The system seems to be returning to the earlier form of first giving students a comprehensive view of the basic principles and then initiate them to its two major branches with increasing emphasis on macroeconomics and international economics. This new trend has enhanced the relevance and usefulness of this book. Secondly, there is a greater emphasis on using quantitative method of elaboration and exposition of economic theories in recent years while the use of high-level mathematics is being underplayed. So, there was a need for introducing simple quantitative methods in the presentation of theories. Thirdly, the application of economic concepts and theories to real life problems is of late also being emphasised and this is also finding entry into management, medical and engineering courses. So application content has been brought into focus in this second edition. The primary objective of writing this test has been to provide a comprehensive text on the basic principles of economics for undergraduate and postgraduate students in a compact volume. This book will also be of immense use to students preparing for competitive examinations, like IAS, IES, CA, MBA and BBA degree and diploma courses, economics paper in engineering and
medical courses. In nutshell, it is an all-purpose book for the students of economics. The students of the latter categories who begin with virtually no economics background often find it difficult to comprehend the complex theories of economics. For them this book is a boon. It begins with simple introduction to economics as a social science, then moves on to basic economic problems of individuals, firms and the society focusing on the problem of scarcity and choice making finally discussing the higher levels of economic theories. Parts II to VI deal with microeconomic theories. Graphical illustrations and simple algebraic