Download Modern Economic Theory by K.K. Dewett PDF for Free
Modern Economic Theory By Kk Dewett.pdf: A Critique and a Guide
Modern Economic Theory by K.K. Dewett is a classic textbook that covers various aspects of economics, from microeconomics to macroeconomics, from money and banking to international trade and public finance. The book was first published in 1946 and has been revised and updated several times since then. It is widely used by students and teachers of economics, as well as by aspirants of various competitive examinations.
Modern Economic Theory By Kk Dewett.pdf
In this article, we will provide a brief overview of the main topics covered in the book, as well as some of the criticisms and recent developments in economic theory that are relevant to the book. We will also provide some tips on how to use the book effectively for learning and teaching economics.
Price Theory or Microeconomics
The first part of the book deals with price theory or microeconomics, which is the study of how individuals and firms make decisions regarding the allocation of scarce resources. The book starts with an introduction to the scope and method of economics, followed by a discussion on partial equilibrium and general equilibrium analysis, which are two ways of analyzing how markets work. The book then explains the concepts of statics, dynamics and comparative statics, which are tools for comparing different states of equilibrium.
The next chapter focuses on the theory of demand, which explains how consumers choose among different goods and services based on their preferences, income and prices. The book introduces the indifference curve analysis of demand, which is a graphical way of representing consumer preferences. The book also covers topics such as elasticity of demand, subsidy effect of taxation, consumer surplus and recent developments in demand theory.
Theory of Production and Distribution
The second part of the book deals with the theory of production and distribution, which explains how firms produce goods and services using various inputs such as labor, capital and land. The book covers topics such as production function, isoquants, returns to scale, cost curves, profit maximization, perfect competition, monopoly, monopolistic competition, oligopoly and factor pricing.
The book also discusses some of the criticisms and alternatives to the neoclassical theory of production and distribution, such as the marginal productivity theory of distribution, the Cambridge controversy, the Sraffa model and the Marxian theory of surplus value.
Theory of Income and Employment or Macroeconomics
The third part of the book deals with the theory of income and employment or macroeconomics, which is the study of how the aggregate level of economic activity is determined by factors such as consumption, investment, government spending, money supply and foreign trade. The book covers topics such as national income accounting, classical theory of income and employment, Keynesian theory of income and employment, consumption function, investment function, multiplier effect, accelerator effect, business cycles, inflation and unemployment.
The book also discusses some of the extensions and modifications of the Keynesian theory, such as the IS-LM model, the AD-AS model, the Phillips curve and the rational expectations hypothesis.
Money and Banking
The fourth part of the book deals with money and banking, which explains how money is created and circulated in an economy, and how it affects various economic variables such as interest rates, exchange rates and prices. The book covers topics such as definition and functions of money, supply and demand for money, quantity theory of money, Fisher effect, Keynesian liquidity preference theory, money market equilibrium, central banking functions,
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International Economics
The fifth part of the book deals with international economics, which explains how countries interact with each other through trade, finance and policy. The book covers topics such as theory of international trade, comparative advantage, terms of trade, balance of payments, exchange rate determination, foreign exchange market, international monetary system, tariffs and quotas, trade policy and economic integration.
The book also discusses some of the contemporary issues and challenges in international economics, such as globalization, trade liberalization, protectionism, regionalism, multinational corporations, foreign direct investment, outsourcing and offshoring.
Public Finance
The sixth part of the book deals with public finance, which explains how governments collect and spend money to provide public goods and services. The book covers topics such as public revenue, taxation principles and practices, public expenditure, public debt, fiscal policy and fiscal federalism.
The book also discusses some of the recent developments and reforms in public finance, such as value added tax (VAT), goods and services tax (GST), direct tax code (DTC), fiscal responsibility and budget management (FRBM) act and goods and services tax network (GSTN).
Economic Systems
The seventh part of the book deals with economic systems, which explains how different countries organize their economic activities based on their political and social ideologies. The book covers topics such as capitalism, socialism, communism, mixed economy, Islamic economy and Gandhian economy.
The book also discusses some of the advantages and disadvantages of each economic system, as well as some of the examples and experiments of each system in different countries.
Economics of Development and Planning
The eighth part of the book deals with economics of development and planning, which explains how developing countries try to achieve economic growth and social welfare through various policies and strategies. The book covers topics such as meaning and measurement of development, characteristics and problems of underdeveloped countries, theories of economic growth and development, population and economic development, human capital and economic development, environment and economic development, poverty and inequality, rural development and urbanization.
The book also discusses some of the models and techniques of economic planning, such as indicative planning, perspective planning, five year plans, annual plans and rolling plans.
Economics of Welfare
The ninth part of the book deals with economics of welfare, which explains how economists evaluate the well-being of individuals and society based on various criteria and methods. The book covers topics such as welfare economics concepts and principles, Pareto optimality conditions,
The book also discusses some of the applications and implications of welfare economics, such as market failure, public goods, externalities, social cost-benefit analysis and social justice.
Conclusion
Modern Economic Theory by K.K. Dewett is a comprehensive and critical textbook that covers various aspects of economics in a clear and concise manner. The book provides a balanced and updated view of the economic theories and their applications in the real world. The book is suitable for students and teachers of economics, as well as for anyone who wants to learn more about the subject.
If you want to download Modern Economic Theory by K.K. Dewett PDF for free, you can visit the following link: https://archive.org/details/in.ernet.dli.2015.54698
Modern Economic Theory by K.K. Dewett is a comprehensive and critical textbook that covers various aspects of economics in a clear and concise manner. The book provides a balanced and updated view of the economic theories and their applications in the real world. The book is suitable for students and teachers of economics, as well as for anyone who wants to learn more about the subject.
If you want to download Modern Economic Theory by K.K. Dewett PDF for free, you can visit the following link: https://archive.org/details/in.ernet.dli.2015.54698 ca3e7ad8fd