Textbook Of Economic Theory
History of Economic Theory
by T. Negishi
After a brief discussion on the history of economics from the point of view of contemporary economic theory, a bird’s-eye view of the historical development of economics is given so that readers can see the significance of topics to be discussed in subsequent chapters in a proper historical perspective. These topics are carefully chosen to show not only what great economists in the past contributed to the development of economics, but also what suggestions for solving our own current problems we can obtain by reworking problems they had to face.
The book can be used in advanced undergraduate as well as graduate classes on the history of economics. Mathematical techniques used can easily be understood by advanced undergraduates of economics major, since some models constructed originally by contemporary mathematical economists are carefully reformulated without losing the essence, basic calculus and the rudiments of linear algebra being sufficient for understanding.
A Textbook Of Economic Theory, 5/E
by Gary S Becker
Others might have called this book Micro Theory or Price Theory. Becker’s choice of Economic Theory as the title for his book reflects his deep belief that there is only one kind of economic theory, not separate theories for micro problems, macro problems, non-market decisions, and so on. Indeed, as he notes, the most promising development in recent years in the literature on large scale economic problems such as unemployment has been the increasing reliance on utility maximization, a concept generally identified with microeconomics.
Microeconomics is the subject matter of this volume, but it is emphatically not confined to microeconomics in the literal sense of micro units like firms or households. Becker’s main interest is in market behavior of aggregations of firms and households. Although important inferences are drawn about individual firms and households, the author tries to understand aggregate responses to changes in basic economic parameters like tax rates, tariff schedules, technology, or antitrust provisions. His discussion is related to the market sector in industrialized economies, but the principles developed are applied to other sectors and different kinds of choices.
Becker argues that economic analysis is essential to understand much of the behavior traditionally studied by sociologists, anthropologists, and other social scientists. The broad definition of economics in terms of scarce means and competing ends is taken seriously and should be a source of pride to economists since it provides insights into a wide variety of problems. Practically all statements proved mathematically are also provided geometrically or verbally in the body of the text.