Principles of Economics Grace Lee / Lim Hock Eam 9789671344088

Title : Principles of Economics Grace Lee / Lim Hock Eam / Evan Lau 

ISBN13 : 9789671344088

PUBLISHER : SJ Learning (2019)

EDITION : 1ST Edition PAPERBACK

PAGES :   552 Color PAGES

The professors and lecturers who authored these chapters committed themselves to producing a relevant, easy-to-read, up-to-date textbook on economics—and that’s exactly what they did. The book is suitable for students' first course in economics, whether in undergraduate or master’s programmes.

The thirty-four chapters, covering subjects in microeconomics and macroeconomics, include practical instruction in the fascinating discipline of economics.

The book features case studies and review questions, designed to stimulate students’ critical thinking and problem-solving. The case studies chronicle real-life situations and predicaments faced by companies, entrepreneurs, and economists.

The authors include faculty members from public and private universities across Malaysia, all of whom have extensive teaching and research experience. Their goal was to write a textbook which is exciting and beneficial. Students will judge whether they succeeded.

Table of Contents

PART 1: WHAT IS ECONOMICS?  

1 Basic Concept of Economics
2 The Economic Problem

PART 2: HOW MARKETS WORK
3 Demand and Supply
4 Elasticity and Its Application
5 Supply, Demand and Government Policies
6 Consumer Surplus, Producer Surplus and Market Efficiency

PART 3: HOUSEHOLDS' CHOICES
7 The Theory of Consumer Choice
8 Uncertainty and Asymmetric Information

PART 4: FIRMS AND MARKETS
9 The Cost of Production
10 Perfect Competition
11 Monopoly
12 Monopolistic Competition
13 Oligopoly

PART 5: FACTOR MARKETS
14 Demand and Supply in Factor Market
15 Income Inequality and Poverty

PART 6: PUBLIC SECTOR
16 Externalities
17 Public Goods and Common Property Resources

PART 7: MACROECONOMIC OVERVIEW
18 Introduction to Macroeconomics
C19 Measuring National Output and National Income
20 Monitoring Unemployment and Inflation
21 Productivity and Long-run Growth

PART 8: THE CORE OF MACROECONOMIC THEORY
22 Aggregate Expenditure and Equilibrium
23 Fiscal Policy
Chapter 24 Monetary Policy
25 Money Demand and the Equilibrium Interest Rate
26 Aggregate Demand in the Goods and Money Market
27 Aggregate Supply and the Equilibrium Price Level
28 Understanding Malaysia's Economy and Labour Market

PART 9: THE MACROECONOMICS OF OPEN ECONOMIES
29 Openness in Goods and Financial Markets
30 The Goods Market in an Open Economy
31 Trade Barriers
32 Exchange Rate Regimes

PART 10: FUTHER MACROECONOMICS ISSUES
33 The Middle Income Trap
34 Financial Crises