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Summary: The Seventh Edition of THE EVOLUTION OF ECONOMIC THOUGHT presents the history of economics and the philosophies that drive the economic way of thinking. It stresses the importance of understanding contemporary economics, by grasping new ideas, evidence, problems and values that call for reconsideration of basic disputes and major contributions of the past. The textbook explains the ideas of the great economic thinkers and their logical connections to the world of tod ...show moreay and tomorrow. Updated pedagogical features provide clear insight into issues like antitrust perspectives and game theory. Introducing ideas like Robert Solow's pioneering model to discuss recent renewed emphasis on growth theory and technological change, the author sheds historical light on modern debates and thoughts. Stanley Brue and Randy Grant carry on the legacy of Jacob Oser, the book's creator, by offering a scholarly and timely presentation of the history of economic thought.Edition/Copyright: 7TH 07
- NEW! New Featured Economist: Chapter 20 now includes a section on Amartya Sen and his contributions to social choice theory and the economics of inequality.
- NEW! New Past as Prologues: These sections have been updated to reflect developments and/or recognition in the field since the last edition. They include: Franklin and Bastiat on Opportunity Cost (Chapter 13), Rational Economic Behavior and Prospect Theory (Ch. 15), Advances in Econometrics (Ch. 18), The Mundell-Fleming Contribution to IS-LM (Ch. 22), and Human Capital Formation? Or Signaling and Screening? (Ch. 24).
- NEW! Product Web Site: A dedicated web site has been created for the 7th edition. Instructors will find bonus chapters on economic thought before 1500, new economic contributors, and links to other history of economic thought web sites.
- Five Major Questions: Each important school of economic thought is introduced with Five Major Questions that when answered provide a concise summary of each school. This presentation of economic thought helps students retain the information.
- The book maintains a strong treatment of economic theory while offering a liberal arts approach to expanding students' historical understanding.
- Past as Prologue: Pedagogical elements like "Past as Prologue" boxes involve original ideas and their impact on subsequent economics theory, issues or events and offer students thought-provoking interpretations of their own knowledge.
- Study Questions: Found at the end of each chapter, these questions review the chapter content, entice students to "stretch" their understanding, and interconnect past, present, and upcoming material.
Publisher: South-Western Publishing Co.
Year Published: 2007
Other Editions of Evolution Of Economic Thought: