The Power of Supply and Demand: Thinking Tools and Case Studies for Students and Professionals

The Power of Supply and Demand: Thinking Tools and Case Studies for Students and Professionals

The Power of Supply and Demand: Thinking Tools and Case Studies for Students and Professionals

The Power of Supply and Demand: Thinking Tools and Case Studies for Students and Professionals

Synopsis

This is an introduction to professional people and policy makers who are eager to under the logic of economics and its versatile applications. It is a user-friendly text which is devoid of higher mathematics but provides a convenient guide to Coasian transaction cost-based institutional economics.

Excerpt

This book is written for the purpose of initiating the student or general reader in the study and appreciation of economics as a way of understanding human behaviour and evaluating government policies.

By presenting the most important economic concepts together with reallife examples, public affairs (notably housing, transportation, and environment), and the professional practices of law, engineering, town planning, and surveying, we hope to close some of the gaps in established economic texts at undegraduate and postgraduate levels.

As a textbook with academic content, this work is designed to bridge a lacuna in the education and articulation of basic economic concepts in the development-related professional disciplines — surveying, planning, and law — both in Hong Kong and elsewhere.

While these disciplines often stipulate the learning of economics as part of the education and 'continuing professional' development of students and practitioners, teachers and learners alike are confronted by the problem of the general absence of systematic economic expositions of the subject that meet their specific needs. Of course, there are many well-known economic texts on pure economics in the book market. The problem is that these pure economics texts are too abstract and mathematics-biased for beginners, and too remote from the professional reality of working and business management groups. This is not to say that there are no academic or professional publications that are useful for teaching and learning. There are indeed a lot of materials available as journal articles. The problems with these publications are that they either overspecialize in the American market, or that they are not easily accessible. Moreover, they often assume a certain degree of proficiency in pure economics, sometimes requiring a set of drilling exercises which in reality may not be required by most practitioners.

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