Basic Economics
3/5
()
About this ebook
This book has been divided into Four Chapters. The Very Short Introductions series of Economics provides concise introductions to more subjects than a person can reasonably hope to know. We offer a brief, pointed look at Economics in this earlier volume in the series. A little learning is a dangerous thing; and a basic introduction does not have to be easy. This book is not written for expert person in Economics but present its subject in the manner of an introductory textbook. Instead, he offers the lay reader an example of how economists define problems and issues and try to solve them. In other words, the book offers the reader an example of how to start in the subject Economics. This gives the book a dense character. The book develops its own way of approaching and his position of questions of economics, neither of which might be fully shared by all members of his profession. The book ties in economics with politics and, especially with ethics. Unlike some scientists who might try to minimize ethical, philosophical questions, it is quite clear that ethical commitments are a driving force behind economics and politics. As a social science, Economics describes what is happening in the economic system rather it attempts to explain how it exercises and make predictions about what may happen to economic variables. For example, it predicts the potential speculation, profits, saving, prices of goods and services etc. in future. In this regard, mathematics is fundamental to any grave application of economics to these areas. The quantification of economic variables is another important aspect of the economic analysis. In the process of simple demand analysis, we often predict the behaviour of the demand in terms of commodity price. Economics needs to determine how much demand is predictable to change if price is changed by an explicit amount. Thus quantification of economics requires the use of mathematics. This book amalgamated both theoretical parts and tools, so that students without having theoretical knowledge on economics can learn application of tools in Economics. We hope that students of both Economics and other disciplines especially the management students can learn economics from the point of view of practical life.
Hemanta Saikia
Hemanta Saikia (M.A. & MARD, M. Phil, MBA, Ph.D) is working as Assistant Professor in the Department of Economics, Debraj Roy College, Golaghat, Assam. He has obtained dual master degree in Economics & Rural Development and also completed EMBA from IIBM India with specialization in International Business and Marketing Management, 2011. Hemanta Saikia also qualified UGC National Eligibility Test (NET) in Economics in the year 2008 with Junior Research Fellowship (JRF). After master degree he has successfully awarded M.Phil and Ph. D degree by Dibrugarh University in the year 2012. Over the years he has published and presented over 50 papers in national and international journals, seminars, workshop and conferences etc. Currently, he has five years of teaching experiences.
Related to Basic Economics
Related ebooks
Economics for Beginners & Dummies Rating: 5 out of 5 stars5/5Economic Systems: Human Thoughts vs. Sharia Law Rating: 3 out of 5 stars3/5Free Economics Notes Rating: 0 out of 5 stars0 ratingsMacroeconomics I Essentials Rating: 4 out of 5 stars4/5Economics 101: From Consumer Behavior to Competitive Markets--Everything You Need to Know About Economics Rating: 4 out of 5 stars4/5Introduction to Business Rating: 4 out of 5 stars4/5Pitfalls in Economic Thinking Rating: 0 out of 5 stars0 ratingsEconomics: A Beginner's Guide Rating: 0 out of 5 stars0 ratingsThe Most Important Lessons in Economics and Finance: A Comprehensive Collection of Time-Tested Principles of Wealth Management Rating: 0 out of 5 stars0 ratingsMicroeconomics Basics Rating: 0 out of 5 stars0 ratingsHow does economy work Rating: 0 out of 5 stars0 ratingsThe Principles of Economics With Applications to Practical Problems Rating: 4 out of 5 stars4/5Basic Economics for Students and Non-Students Alike Rating: 4 out of 5 stars4/5Microeconomics - Undergraduate Essays and Revision Notes Rating: 0 out of 5 stars0 ratingsEconomics: A Simple Introduction Rating: 4 out of 5 stars4/5Principles of Economics Rating: 4 out of 5 stars4/5Economic Principles: The Masters and Mavericks of Modern Economics Rating: 4 out of 5 stars4/5Introductory Economics Rating: 4 out of 5 stars4/5The Everything Economics Book: From theory to practice, your complete guide to understanding economics today Rating: 3 out of 5 stars3/5Interest Rate: A Centuries Old Mystery and Conspiracy Rating: 0 out of 5 stars0 ratingsIntroduction to Economics Rating: 4 out of 5 stars4/5Macroeconomics Textbook Rating: 0 out of 5 stars0 ratingsBasic Microeconomics Rating: 0 out of 5 stars0 ratingsMacroeconomics Rating: 5 out of 5 stars5/5Microeconomics: A Simple Introduction Rating: 4 out of 5 stars4/5How to Ace That Macroeconomics Exam: The Ultimate Study Guide Everything You Need to Get an A Rating: 5 out of 5 stars5/5Introductory Macroeconomics Rating: 4 out of 5 stars4/5Principles of Economics. Illustrated Rating: 5 out of 5 stars5/5
Economics For You
The Age of Selfishness: Ayn Rand, Morality, and the Financial Crisis Rating: 4 out of 5 stars4/5Divergent Mind: Thriving in a World That Wasn't Designed for You Rating: 4 out of 5 stars4/5Wise as Fu*k: Simple Truths to Guide You Through the Sh*tstorms of Life Rating: 4 out of 5 stars4/5The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5You Can't Lie to Me: The Revolutionary Program to Supercharge Your Inner Lie Detector and Get to the Truth Rating: 4 out of 5 stars4/5Economix: How and Why Our Economy Works (and Doesn't Work), in Words and Pictures Rating: 4 out of 5 stars4/5A History of Central Banking and the Enslavement of Mankind Rating: 5 out of 5 stars5/5How to Be Everything: A Guide for Those Who (Still) Don't Know What They Want to Be When They Grow Up Rating: 4 out of 5 stars4/5The Hard Truth About Soft Skills: Soft Skills for Succeeding in a Hard Wor Rating: 3 out of 5 stars3/5Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions Rating: 4 out of 5 stars4/5Everybody Lies: Big Data, New Data, and What the Internet Can Tell Us About Who We Really Are Rating: 4 out of 5 stars4/5Confessions of an Economic Hit Man, 3rd Edition Rating: 5 out of 5 stars5/5Sex Trafficking: Inside the Business of Modern Slavery Rating: 4 out of 5 stars4/5The Lords of Easy Money: How the Federal Reserve Broke the American Economy Rating: 4 out of 5 stars4/5Quiet Leadership: Six Steps to Transforming Performance at Work Rating: 4 out of 5 stars4/5Limitless Mind: Learn, Lead, and Live Without Barriers Rating: 4 out of 5 stars4/5Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Rating: 4 out of 5 stars4/5These Are the Plunderers: How Private Equity Runs—and Wrecks—America Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5Chip War: The Fight for the World's Most Critical Technology Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5Disrupting Sacred Cows: Navigating and Profiting in the New Economy Rating: 0 out of 5 stars0 ratingsThe Affluent Society Rating: 4 out of 5 stars4/5Bottle of Lies: The Inside Story of the Generic Drug Boom Rating: 4 out of 5 stars4/5The Armchair Economist (revised and updated May 2012): Economics & Everyday Life Rating: 4 out of 5 stars4/5The Physics of Wall Street: A Brief History of Predicting the Unpredictable Rating: 4 out of 5 stars4/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5
Reviews for Basic Economics
6 ratings1 review
- Rating: 3 out of 5 stars3/5Total screen does not fit in mobile screen please solve this.
Book preview
Basic Economics - Hemanta Saikia
Basic Economics
Copyright 2015 Hemanta Saikia
Published by Hemanta Saikia at Smashwords
Smashwords Edition License Notes
This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your enjoyment only, then please return to Smashwords.com or your favorite retailer and purchase your own copy. Thank you for respecting the hard work of this author.
Table of Contents
Acknowledgements
Chapter One
Chapter Two
Chapter Three
Chapter Four
About Hemanta Saikia
Other books by Hemanta Saikia
Connect with Hemanta Saikia
Acknowledgements
I would also like to give my special thanks to my family whose patient love enabled me to complete this work. I extend due respect and gratitude to all those who helps and co-operations will be valuable and precious for all time to come before me.
Chapter One
As a social science, Economics describes what is happening in the economic system rather it attempts to explain how it maneuvers and make predictions about what may happen to economic variables. For example, it predicts the potential speculation, profits, saving, prices of goods and services etc in future. In this regard, mathematics is fundamental to any grave application of economics to these areas. The quantification of economic variables is another important aspect of the economic analysis. In the process of simple demand analysis, we often predict the behavior of the demand in terms of commodity price. Economics needs to determine how much demand is predictable to change if price is changed by a explicit amount. Thus quantification of economics requires the use of mathematics. This book amalgamated both theoretical parts and tools, so that students without having theoretical knowledge on economics can learn application of tools in Economics. We hope that students of both Economics and other disciplines especially the management students can learn economics from the point of view of practical life.
In modern times, the whole economic system of analysis is seemed to be integrated with mathematics and statistics and quantitative economics is now an integral part of economics. However it is not a distinct branch of economic rather it is an approach to the economics in which it uses mathematical symbols for the statement of the economic theories and for reasoning. In this part of the book, we will discuss the meaning