condition of the nation. It is re ected in the e orts that are put by the government of a nation to improve
the condition of the state and support the people in their sustenance and growth.
As the economy of a nation is directly related to the way people live, economy holds a great signi cance in
the curriculum of the students, who are enthusiastic about the subject and even the ones who do not have
much inclination towards the subject.
The study of economy is believed to provide the people with solutions to problems in their daily lives and
give them an indication of the direction in which their lives are leading. Economics believes in identifying
the problems of the citizens that are linked to the nancial aspects and making sure that the lives of the
people are stable and that they are able to ful l their goals.
The book ‘Introduction to Economics’ provides the readers with adept knowledge on the various aspects of
economics and makes them able to apply the knowledge gained from the book to their use. The book
makes all the concepts available to the students and the readers in a concise form and the knowledge is
found to be explained clearly in the chapters which have been bifurcated by the di erent approaches and
aspects in economics.
The readers are informed about the meaning of economics along with the scope and types of economy,
following which the rst chapter throws light on the circular ow of economic activity. The next chapter
focuses on the importance of demand and supply in economy and informs the readers about the impact of
the two functions in the transactions that take place in an economy.
The book then goes on to explain the readers the consumer behavior and explain them the choices of the
consumers and how to predict them. It explains them the theory related to consumer preference so that
the students get the knowledge on how to interpret the preferences of the consumers in the market.
The readers are explained about the theory related to production and cost of the various goods and
services. The book makes them understand the various stages in a general production process and the role
that the input and output play in the determination of the production variables.
The book also takes the readers through the market structure in an economy and explains them its types
making them understand the importance of di erent kinds of markets. In the end, they are explained the
meaning of macroeconomics, which makes them understand the ways in which the progress of an economy
can be gauged and the policies that can be formed to achieve some desired macroeconomic goals by a
nation.
This book tries to uncover all the aspects related to economics and makes e orts to make sure that the
readers get well-versed with those aspects. I hope that the students nd the book comprehensive and
understand the concepts explained in the book with ease. I also hope that the readers nd the book
relatable and that it can provide them with explanation to various problems and activities that may be
taking place around them, including the policy making activities undertaken by the authorities around the
globe.
Jonathan Wood holds an MBA degree and a PhD in Economics. He is a prominent financial expert based in Roubaix, France. His research interests are in the investigation of monetary strategies and microeconomics. He also serves as a guest professor of economics at Oise University. Wood has contributed in several articles, publications and book sections in the field of business organization, business values, business management quantitative and financial aspects of economy. He has worked with government offices and banking establishments to analyze showcase patterns and financial emergencies.
