Intermediate Economics

Front Matter....Pages i-xv
Front Matter....Pages 1-1
What Economics is About....Pages 3-15
Methods of Allocating Resources....Pages 16-24
The Population as Consumers and Producers....Pages 25-41
Front Matter....Pages 43-43
How Price is Formed in the Market Economy....Pages 45-60
Applications of Demand and Supply Analysis....Pages 61-69
A Further Look at Demand....Pages 70-100
Supply (1): Organising Production....Pages 101-127
Supply (2): Deciding on the Most Profitable Output....Pages 128-143
The Supply Curve of the Industry under Perfect Competition....Pages 144-157
Factor Markets: The Marginal Productivity Theory of Distribution....Pages 158-167
Front Matter....Pages 169-169
Economic Efficiency Through the Market Economy....Pages 171-180
Imperfect Competition (1): Monopoly....Pages 181-203
Imperfect Competition (2): Other Forms....Pages 204-212
Labour and Wages....Pages 213-234
Capital and Interest....Pages 235-243
Land and Rent....Pages 244-252
Entrepreneurship and Profit....Pages 253-258
Externalities....Pages 259-276
Cost-Benefit Analysis (CBA)....Pages 277-301
Imperfect Knowledge....Pages 302-310
Front Matter....Pages 169-169
The Provision of Goods and Services by the Public Sector....Pages 311-329
Front Matter....Pages 331-331
Money and the Rate of Interest....Pages 333-346
Financial Markets....Pages 347-362
Clearing Banks....Pages 363-371
The Bank of England....Pages 372-378
Front Matter....Pages 379-379
From Micro- to Macro-Economics....Pages 381-385
Measuring the Level of Activity: National Income Calculations....Pages 386-401
Determination of the Level of Activity: The Keynesian Explanation....Pages 402-430
Front Matter....Pages 431-431
Full Employment....Pages 433-451
Maintaining Currency Stability....Pages 452-464
Balanced Regional Development....Pages 465-477
Economic Growth....Pages 478-485
Government Finance....Pages 486-508
Front Matter....Pages 509-509
International Trade....Pages 511-525
International Payments....Pages 526-536
The Correction of a Balance-of-Payments Disequilibrium....Pages 537-549
The European Community....Pages 550-561
Aid to Less Developed Countries....Pages 562-572
Front Matter....Pages 573-573
Current Problems and Policies of the UK....Pages 575-587
Back Matter....Pages 589-608