Macroeconomic (Global Edition).
We love economics. We marvel at the way economic systems work. When we buy a smartphone, we think about the complex supply chain and the hundreds of thousands of people who played a role in producing an awe-inspiring piece of technology that was assembled from components manufactured across the g...
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| Main Author: | |
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| Format: | Book |
| Language: | English |
| Published: |
Pearson
2020
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| Subjects: | |
| Online Access: | http://dspace.uniten.edu.my/jspui/handle/123456789/15295 |
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| Institution: | Universiti Tenaga Nasional |
| Language: | English |
| Summary: | We love economics. We marvel at the way economic systems work. When we buy a smartphone,
we think about the complex supply chain and the hundreds of thousands of people
who played a role in producing an awe-inspiring piece of technology that was assembled
from components manufactured across the globe.
The market’s ability to do the world’s work without anyone being in charge strikes
us as a phenomenon no less profound than the existence of consciousness or life itself.
We believe that the creation of the market system is one of the greatest achievements of
humankind.
We wrote this book to highlight the simplicity of economic ideas and their extraordinary
power to explain, predict, and improve what happens in the world. We want students to
master the essential principles of economic analysis. With that goal in mind, we identify
the three key ideas that lie at the heart of the economic approach to understanding human
behavior: optimization, equilibrium, and empiricism. These abstract words represent three
ideas that are actually highly intuitive. |
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