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James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
The Economy 2.0 is the second edition of The Economy 1.0, CORE Econ's original introductory economics textbook. A complete rewrite of The Economy 1.0, The Economy 2.0 brings together the latest research in economics and related disciplines, with the feedback CORE Econ have received over the years from committed instructors.
Economics was the second Keynesian textbook in the United States, following the 1947 The Elements of Economics, by Lorie Tarshis.Like Tarshis's work, Economics was attacked by American conservatives (as part of the Second Red Scare, or McCarthyism), universities that adopted it were subject to "conservative business pressuring", and Samuelson was accused of Communism.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Book I is broken down into six chapters that begin to define economics. The text starts by describing that economics and politics differ in two major ways, one, in the subjects with which they deal and two, the number of rulers involved. Like an owner of a house, there is only one ruling in an economy, while politics involves many rulers.
Basic Economics is a non-fiction book by American economist Thomas Sowell published by Basic Books in 2000. The original subtitle was A Citizen's Guide to the Economy , but from the third edition in 2007 on it was subtitled A Common Sense Guide to the Economy .
An economic model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified, often mathematical, framework designed to illustrate complex processes.