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Informationen zum Autor Xiaokai Yang is Professor in the Department of Economics at Monash University and an affiliated Fellow in the Center for International Development, Harvard University. His research papers have appeared in The American Economic Review, Journal of Political Economy, and other refereed journals. He is the author of eight books, and is co-author, with Jeffrey Sachs, of Development Economics (Blackwell, 2001). Klappentext This innovative text ushers in a new way of examining basic economic issues. It teaches economics from a different standpoint, using a division-of-labor theme to eliminate the need for a dichotomy between microeconomics and macroeconomics. This text shows how resource allocation and levels of division of labor are determining factors for demand and supply. It also illustrates the ways that unemployment and business cycles are seen as features of the network of division of labor. While innovative in content, this book keeps the continuity of mainstream economics through a synthesis of existing and emerging branches of economics. It is an exceptional work that will encourage both creative and critical thinking. Zusammenfassung This text offers a new way of looking at basic economic issues. It teaches economics from a different standpoint! based on specialization and the division of labour. Inhaltsverzeichnis Part I: Economic Environment: Introduction: . 1. What is Economics?. Analytical Framework of Economics. Neoclassical Economics vs. New Classical Economics. Structure of the Text and Different Ways to Use it. 2. Preference and Utility Function. Scientific Approach to Studies of Human Behavior. Preference and Utility Function. Convex Preference Relation, Quasi-concave Utility Function, Diminishing Marginal Rates of Substitution, and Desire for Diverse Consumption. Ordinal vs. Cardinal Theory of Utility and Diminishing Marginal Rate of Substitution vs. Diminishing Marginal Utility. 3. Production Conditions. Neoclassical Framework vs. New Classical Framework. Neoclassical Environment of Production. New Classical Production Environment. Endogenous cum Exogenous Comparative Advantage. Part II: Neoclassical Framework: . 4. Neoclassical Decision Problems. Budget Constraint and Dichotomy Between Pure Consumers and Firms. A Pure Consumer's Constrained Utility Maximization Problem. Comparative Statistics of the Pure Consumer's Utility Maximization Problem. A Pure Consumer's Expenditure Minimization Problem. Recovering Utility Function from a Demand System. Revealed Preference. A Producer's Decision Problem in a Walrasian Regime. 5. General Equilibrium in the Neoclassical Frameworks. General Equilibrium in a Walrasian Model. Neoclassical General Equilibrium Models. Comparative Statistics of Neoclassical General Equilibrium. Welfare Implications of the Neoclassical General Equilibrium Equilibrium in Neoclassical Game models. Part III: New Classical Framework: . 6. Consumer-producers' Decisions to Choose Optimum Level and Pattern of Specialization. The New Classical Framework and Transaction Costs. Configurations and Corner Solutions in the New Classical Framework. The Optimum Resource Allocation for a Given Level and Pattern of Specialization. The Optimum Level and Pattern of Specialization. Neoclassical and New Classical Laws of Supply and Elasticity of Substitution. 7. New Classical General Equilibrium and Its Welfare Implications. Neoclassical vs. New Classical General Equilibrium. How Does the Market Coordinate the Division of Labor and Utilize Network Effects. Inframarginal Comparative Statistics of New Classical General Equili...
