What economics is all about -- Economic systems -- Production, income and spending in the mixed economy -- Demand, supply and prices -- Demand and supply in action -- Elasticity -- Theory of demand: utility approach -- Theory of demand: indifference approach -- Background to supply: production and cost -- Market structure 1: overview and perfect competition -- Market structure 2: monopoly and imperfect competition -- Factor markets: labour market -- Measuring the performance of the economy -- Monetary sector -- Government sector -- Foreign sector -- Simple Keynesian model of the economy -- Keynesian models including the government and the foreign sector -- More on macroeconomic theory and policy -- Inflation -- Unemployment -- Economic growth and business cycles.
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SUMMARY OR ABSTRACT
Text of Note
"Economics for South African students is a comprehensive introduction to economics in general, set against a contemporary South African background. The easy style and many practical examples make this publication extremely accessible. The book covers all the material usually prescribed for introductory courses, and it lays a solid foundation for intermediate and advanced studies in economics. The fi fth edition is a restructured, thoroughly revised and updated version of the popular fourth edition. As in the previous editions, the emphasis is on the application of economic theory. A wealth of relevant information about the South African economy is also provided. This book is also available in Afrikaans. South African workbook for economics is an additional resource that students can purchase at their local bookstore or online retailer. Please visit www.vanschaiknet.com for information on core and supplementary Economics I products."--Publisher's description.