Introduction to Economics

by Alan C. Stockman and Stockman

To accomplish your course goals, use this study guide to enhance your understanding of the text content and to be better prepared for quizzes and tests. This convenient manual helps you assimilate and master the information encountered in the text through the use of practice exercises and applications, comprehensive review tools, and additional helpful resources.

• Format: Hardcover
• Language: English
• ISBN: 0030311292
• ISBN13: 9780030311291
• Release Date: January 1995
• Publisher: Harcourt Brace College Publishers
• Length: 1188 Pages
• Weight: 1.05 lbs.
• Dimensions: 1.6" x 8.9" x 10.3"

Customer Reviews

Fantastic!

Fantastic testbook, and fantastic professor! Stockman has written a concise yet witty text for students in economics.

Probably the best Principles text around

Stockman has written a fine introductory university text on economics, based on more than 20 years experience teaching undergraduates. It is the only such text written from a Chicago price theory perspective which, however wonderful, is dying at Chicago! Hence the strong emphasis on supply and demand, market distortions, the gains from trade, consumer and producer surplus, the division of labour, and so on. It is much easier and more conventional than that other classic in the Chicago tradition, Alchian & Allen. It is also the only principles text to emphasise macroeconomic market clearing and growth over business cycles. No IS-LM here, which is fine by me.I started economics 30 years ago with the 8th edition of Samuelson. Much of what I learned there I had to unlearn later. Many statements in that book struck me as less than fully true, and my subsequent education bore out my suspicions.Most telling, Stockman understands that a market economy is a self-organising social process that economises on articulated knowledge, and that elicits cooperation among people who do not know each other and never will.Flaws: many of Stockman's definitions are nonstandard or simplistic. He should use fewer clippings from the press, and higher quality ones. His discussion of labour economics is rushed. He should devote more space to property rights and law & economics, and less to, eg, monopolistic competition, moral hazard and adverse selection. He should say more about the role of economics in the intellectual history of our civilisation, starting with David Hume in 1748 and with Richard Cantillon. Every principles text should explain that much of the apparatus of our discipline was invented by Alfred Marshall while teaching at Cambridge in the 1870s and 80s. The book is too long and too expensive, in part because it has too many colour photographs.