Description

Economic Theory is a comprehensive textbook that explores the foundational principles and theoretical frameworks that underpin the study of economics. This book provides a thorough examination of key economic theories, concepts, and models essential for understanding economic phenomena and decision-making processes. The textbook begins by introducing fundamental concepts such as scarcity, opportunity cost, supply and demand, and market equilibrium. It then delves into microeconomic theory, exploring topics such as consumer behavior, producer theory, market structures, and welfare economics. "Economic Theory" also covers macroeconomic theory, addressing issues such as economic growth, inflation, unemployment, fiscal policy, and monetary policy. It discusses various schools of economic thought, including classical economics, Keynesian economics, and neoclassical economics, and examines their implications for policy-making and economic analysis. Through theoretical exposition, graphical illustrations, and mathematical models, this textbook provides readers with a rigorous understanding of economic theory and its applications. It encourages critical thinking and analysis of economic problems, making it an essential resource for students, researchers, and professionals seeking to deepen their knowledge of economic principles and theories.