Download Schaums Easy Outline Of Principles Of Economics with manual solution in PDF Based on Schaum’s Outline of Theory and Problems of Principles of Economics (Second Edition) by Dominick Salvatore,PhD and Eugene A.Diulio,PhD Abridgement Editor:Wm Alan Bartley,PhD download solution manual for Schaums Easy Outline Of Principles Of Economics for free.
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Methodology of Economics:
Economics is a social science that studies individuals and organizations engaged in the production, distribution, and consumption of goods and services. The goal is to predict economic occurrences and to develop policies that might prevent or correct such problems as unemployment, inflation, or waste in the economy. Economics is subdivided into macroeconomics and microeconomics. Macroeconomics studies aggregate output, employment, and the general price level. Microeconom-ics studies the economic behavior of individual decision makers such as consumers, resource owners, and business firms. The discipline of economics has developed principles, theories, and models that isolate the most important determinants of economic events. In constructing a model, economists make assumptions to eliminate unnecessary detail to reduce the complexity of economic behavior. Once modeled, economic behavior may be presented as a relationship between dependent and independent variables. The behavior being explained is the dependent variable; the economic events explaining that behavior arethe independent variables. The dependent variable may be presented as depending upon one independent variable, with the influence of the other independent variables held constant (the ceteris paribus assumption). An economic model will also specify whether the dependent and independent variables are positively or negatively related, i.e., moving in the same or opposite directions.
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