Economic Activity

Economic Activity has its origins in a course of lectures given since 1950 to first-year undergraduates at the University of Adelaide.

G. C. Harcourt (Author), P. H. Karmel (Author), R. H. Wallace (Author)

9780521094276, Cambridge University Press

Paperback / softback, published 2 March 1967

340 pages
21.5 x 13.9 x 2 cm, 0.45 kg

Economic Activity has its origins in a course of lectures given since 1950 to first-year undergraduates at the University of Adelaide. That course was originally given by P. H. Karmel; in later years the other two co-authors inherited it. Little attention was paid to financial factors in the first-year course. A second-year course of macro¬economics (given on several occasions by R. H. Wallace) was built upon the first course, and in this the inter-relationships between the financial and production sectors of the economy were considered in detail. The second-year course was set in the context of the particular institutional framework of the Australian economy, and students were introduced to the relevant statistical material. The book draws upon material from both courses, but the discussion of the financial sector is essentially theoretical.

1. Introduction
2. The National Accounts and the Income-Creation Process
3. The Production-Income-Expenditure Circuit and National Accounting Identities
4. The Determination of the Equilibrium Level of Real Income
5. The Concept of Full Employment
6. Money in the Economic Process
7. The Banking System and the Quantity of Money
8. The Consumption Function
9. The Determinants of Investment Expenditure
10. The Effect of Changes in Expenditure Plans: The Multiplier Concept
11. The Government Sector and the Determination of Real Income
12. The Open Economy
13. The Interaction Between Planned Expenditures and Financial Factors
14. Inflation
15. Economic Policy.

Subject Areas: Economics [KC]