This textbook provides a comprehensive introduction to economics, set against a contemporary South African background. Like previous editions, the easy style and many practical examples make this publication extremely accessible. The book covers all the material usually prescribed for introductory courses, and it lays a solid foundation for intermediate and advanced studies in economics. Students and practitioners will most likely continue to use this textbook throughout their studies and professional career.
Practical examples in economics are crucial because they link theory and real-world experience. The examples provided in this book allow students to understand how the theory relates to economic behaviour. As in the sixth edition, a number of experts contributed short pieces under the collective title In the real world. We trust that these examples and case studies will be put to good use by lecturers (eg in discussion classes) while also providing students with more practical material to enhance their coursework.
Some of the topics covered by the In the real world pieces include:
The various experts contributed In the real world pieces: Mduduzi Biyase, Edward Blight, Estian Calitz, Pierre Faure, Johan Fourie, Rudolf Gouws, Waldo Krugell, Jac Laubscher, Pieter le Roux, Colin McCarthy, Dave Mohr, Gabila Nubong, Andrie Schoombee, Krige Siebrits, Ben Smit, Eon Smit, Sharon Tessendorf, Chris Torr, Servaas van der Berg, Cecilia van Zyl, Cobus Vermeulen, Ingrid Woolard, Derek Yu and Mulatu Zerihun.
A bonus chapter on the South African economy can be found at:
https://www.vanschaiknet.com/resources_sae/
South African workbook for economics and Basic mathematics for economics students are additional resources that students can purchase at their local bookstore or online retailer. Please visit www.vanschaiknet.com for further information on fundamental and supplementary Economics I products.
Chapter 1: What economics is all about
Chapter 2: Economic systems
Chapter 3: Production, income and spending in the mixed economy
Chapter 4: Demand, supply and prices
Chapter 5: Demand and supply in action
Chapter 6: Elasticity
Chapter 7: The theory of demand: the utility approach
Chapter 8: The theory of demand: the indifference approach
Chapter 9: Background to supply: production and cost
Chapter 10: Market structure 1: overview and perfect competition
Chapter 11: Market structure 2: monopoly and imperfect competition
Chapter 12: The factor markets: the labour market
Chapter 13: Introduction to macroeconomics
Chapter 14: The monetary sector
Chapter 15: The government sector
Chapter 16: The foreign sector
Chapter 17: A simple Keynesian model of the economy
Chapter 18: The Keynesian model with a government and a foreign sector
Chapter 19: More on macroeconomic theory and policy
Chapter 20: Inflation
Chapter 21: Unemployment, poverty and inequality
Chapter 22: Economic growth and business cycles
