Micro and Macro Economics: An Introductory Guide by Edward C. Prescott and Richard W. Easterly presents a solid base for getting acquainted with the basic concepts of economics. The authors have done a fine job of introducing the fundamentals of economics to an introductory level. If you are a student of economics, this book is a must-read for you. It will save you time as well as money.
Economic concepts such as demand and supply, prices, money, and the effect of price on production can be very confusing and intimidating to new students of economics. This is the reason for the need for the introduction to micro and macro economics book. It is not that difficult to grasp because you have an understanding of basic economics. Once you grasp these concepts, you are ready to move onto advanced courses and study of micro and macro theory.
Micro and Macro Economists: An Introduction by Ed Prescott and Richard W. Easterly presents a good beginning point for those who are just beginning their studies in economics and would like to gain an overview of the basic economic concepts and theories. The authors clearly explain the theory behind economic concepts in a way that does not confuse the average reader. In addition, they provide an excellent visual aid to make the concepts clearer.
Microeconomics is simply economics that deals with the price system of a country. Prices are the cost at which goods or services are sold. Economists are experts in pricing economics. Microeconomics deals with the supply and demand of resources in a particular area of interest.
Macroeconomics deals with the distribution of income in a country or a region. It focuses on the effect of a particular change in income on the price level, employment, and other economic variables. Economists can help you learn the basic principles of micro and macroeconomics.
Microeconomists and macroeconomists can also be very similar, as they both deal with the price system and the distribution of income. However, they do have many differences.
Microeconomics is very simple to understand. It only has nine chapters. On the other hand, macroeconomics has several hundred pages and is much more complex. Both micro and macro economics books are designed so that the average reader can understand them easily.
Micro and macro economics books will provide you with a good understanding of how the economic systems operate. You will also be familiar with how they affect you and your family. This is why it is important to read these books as soon as possible after you complete your college coursework. Even if you never plan to become a professional at economics, reading these books is still important for the development of your mind and the ability to comprehend complex concepts.
Micro and macro economics books are also helpful for people who just want to have a better understanding of their own country's economy. Whether you want to be a consultant, an economist, a banker, or any other type of professional who makes decisions based on economic analysis, this book is a great place to start.