Introductory Economic Theory -(TEXT BOOK)- By M.L. Seth

Description Introductory Economic Theory – , By – M.L.Seth, ISBN Code – 978-93-87601-60-4   (According to the New Syllabus of NEHU, Shillong) B.A PART I, PAPER I, Introductory Economic Theory is a text-book which has been especially planned to cater to the requirements of graduate and other students in Economic theory at the University level. The book not only fully covers the prescribed courses of study but also presents the essentials of economic theory in a compact, coherent lucid and easily intelligible manner. The course of study prescribed by the University have also been borne in mind while writing the present volume. Simplicity of language and language and lucidity of treatment are the two considerations which the author has constantly kept in mind while explaining and elaborating the various laws and principles have been explained as far as possible with examples and illustrations from Indian conditions so as to present them in an easily digestible form. The treatment of economic theories has been kept, as far as possible, non-technical and non-mathematical without, in any way, sacrificing their substance. CONTENTS : Chapters UNIT I CONSUMER BEHAVIOUR Demand Indifference Curve Analysis of Demand Uses and Applications of Indifference Curve Analysis Elasticity of Demand and Supply UNIT II PRODUCTION AND COST Factors of Production Substitutability of Factors and Laws of Returns Production Function Isoquants and the Laws of Returns Cost Analysis of the Firm UNIT III MARKET STRUCTURE AND FACTOR PRICING Market Structure Revenue Curves of the Firm Pricing Under Perfect Competition Pricing Under Monopoly Theory of Distribution Wages Rent Interest Profits UNIT IV NATIONAL INCOME National Income Green Accounting UNIT V OUT AND EMPLOYMENT Theory of Employment Keynesian Theory of Ernployment–An Epitome The Consumption Function The Investment Function