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    Basic Economics
    Basic Economics
    Basic Economics
    Ebook41 pages35 minutes

    Basic Economics

    By Hemanta Saikia

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    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.

    LanguageEnglish
    PublisherHemanta Saikia
    Release dateApr 13, 2015
    ISBN9781311733320
    Basic Economics
    Author

    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.

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    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

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