This book, spread over 24 chapters, covers Economics with a greater orintation towards Islamic viewpoints. It is also suitable for students studying the subject in developing economies. The book combines the material of two earlier texts of the author—Macroeconomics (2009) and Fundamentals of Microeconomics (2011). The material has been refined and updated; new explanatory diagrams and illustrations have been included.
- Written in simple language, with explanatory illustrations and descriptive diagrams.
- Learning outcomes are stated at the beginning of each chapter and checks on them are provided in the form of exercises throughout the chapters.
- Boxes highlighting Islamic input are provided in each chapter which allows the smooth flow of the text.
- A summary of the main points, concepts for review and a glossary are provided at the end of each chapter.
- Relevant and recent case studies, and a Web-based task are provided at the end of each chapter.
Table of Contents
1. What is Economics About?
2. Demand and Supply
3. Elasticity of Demand and Supply
4. Consumption: Analysis and Behavioural Forms
5. Production and Cost Functions
6. Perfect Competition
7. Monopoly and Pricing Power
8. Monopolistic Competition and Oligopoly
9. Factor Pricing and Equity
10. Wages of Labour
11. Rent, Interest and Profit
12. Markets, Environment and Sustainability
13. Money, Banking and Prices
14. Macroeconomics: Nature and Significance
15. National Income: Variants and Measurement
16. Aggregate Demand and Aggregate Supply
17. Aggregate Demand: Consumption and Investment
18. Aggregate Supply: Factor Incomes and Savings
19. Markets in Equilibrium: The IS-LM model
20. Monetary Policy: Bases, Goals and Instruments
21. Fiscal Policy: Public Revenue and Expenditure
22. National Income Distribution
23. Inter-temporal and International Income Comparisons
24. Open Economies: International Trade, Balance of Payments and Exchange Rates
Concepts for review
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