Foundations of economic analysis /

By:

Samuelson, Paul A

Material type: Text

TextSeries: Harvard economic studies ; vol. 80Publication details: Cambridge : Harvard University Press, c1947.Description: xii, 447 p. :illSubject(s):

Economics, Mathematical

DDC classification:

330.182 SAM

LOC classification:

HB171 .S26

Summary: The book sought to demonstrate a common mathematical structure underlying multiple branches of economics from two basic principles: maximizing behavior of agents (such as of utility by consumers and profits by firms) and stability of equilibrium as to economic systems (such as markets or economies). Among other contributions, it advanced the theory of index numbers and generalized welfare economics. It is especially known for definitively stating and formalizing qualitative and quantitative versions of the "comparative statics" method for calculating how a change in any parameter (say, a change in tax rates) affects an economic system. One of its key insights about comparative statics, called the correspondence principle, states that stability of equilibrium implies testable predictions about how the equilibrium changes when parameters are changed.

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Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	330.182 SAM (Browse shelf(Opens below))	Available		31008100103197

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Previous	330.182 MEA Measurement in economics :	330.182 NOV The use of mathematics in economics /	330.182 RAO Statistical inference and measurement of structural changes in an economy /	330.182 SAM Foundations of economic analysis /	330.182 VON Theory of games and economic behavior /	330.218 MOR Morality of Markets /	330.218 MOR Morality of Markets /	Next

Includes bibliographical footnotes and index.

The book sought to demonstrate a common mathematical structure underlying multiple branches of economics from two basic principles: maximizing behavior of agents (such as of utility by consumers and profits by firms) and stability of equilibrium as to economic systems (such as markets or economies). Among other contributions, it advanced the theory of index numbers and generalized welfare economics. It is especially known for definitively stating and formalizing qualitative and quantitative versions of the "comparative statics" method for calculating how a change in any parameter (say, a change in tax rates) affects an economic system. One of its key insights about comparative statics, called the correspondence principle, states that stability of equilibrium implies testable predictions about how the equilibrium changes when parameters are changed.

rpm 05/07/2017

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