An Introduction To Positive Economics by Richard G. Lipsey
Positive and Normative Economics -- Microeconomics
An Introduction to Positive Economics
First Principles of Economics. Richard G. Lipsey , Colin Harbury. First Principles of Economics has the needs and abilities of A-level candidates continually in mind. Throughout the book priority is given to providing thoroughly understandable explanations of basic economic principles. Anything that might confuse or mislead is covered slowly and helpfully with the aid of clear diagrams, so that the student can understand exactly what each economic concept does and does not involve.
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He is best known for his work on the economics of the second-best , a theory that demonstrated that piecemeal establishing of individual first best conditions would not necessarily raise welfare in a situation in which all first best conditions could not be satisfied, an article that he co-authored with Kelvin Lancaster , a mathematical economist of high standing. From to , he was a Senior Economic Advisor at the C. Howe Institute , the economic and social think tank in Toronto. He is also a co-founder of Simon Fraser University 's ACT Adaptation to Climate Change Team , an initiative that works to assist effective adaptation to climate-related challenges through policy development and awareness-raising. Lipsey wrote the econometric follow up article to William Phillips' original article that introduced the curve that became known as the Phillips Curve, which held that a tradeoff existed between unemployment and inflation.