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Modern Economic Theory by K. K. Dewett: A Review
Modern Economic Theory is a book on economics written by K. K. Dewett, a professor of economics at Delhi University. The book covers various topics in microeconomics and macroeconomics, such as consumer behavior, production, market structures, national income, money and banking, public finance, international trade and development economics. The book is written in a simple and lucid style, with examples and diagrams to illustrate the concepts. The book also contains exercises and questions at the end of each chapter to test the understanding of the readers.
The book is suitable for undergraduate and postgraduate students of economics, as well as for those who are preparing for competitive examinations. The book has been revised and updated several times to incorporate the latest developments and trends in economic theory and policy. The book is available in both print and digital formats, and can be downloaded for free from various online sources[^1^] [^2^] [^3^]. The book has received positive reviews from students and teachers alike, who have praised its clarity, comprehensiveness and relevance.One of the main features of Modern Economic Theory is its balanced approach to microeconomics and macroeconomics. The book does not favor one branch over the other, but rather shows how they are interrelated and complementary. The book also explains how economic theory can be applied to real-world problems and issues, such as poverty, unemployment, inflation, growth, trade and environment. The book provides a critical analysis of various economic theories and policies, and compares them with alternative perspectives and viewpoints.
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Another feature of Modern Economic Theory is its use of mathematical tools and techniques to enhance the understanding of economic concepts and models. The book does not assume any prior knowledge of mathematics, but rather introduces the necessary tools and techniques in a gradual and intuitive manner. The book also provides ample examples and exercises to help the readers practice and master the mathematical skills. The book does not rely on excessive mathematical formalism, but rather uses it as a means to clarify and simplify the economic arguments.A final feature of Modern Economic Theory is its comprehensive coverage of various topics and subtopics in economics. The book covers both the traditional and the modern aspects of economic theory, and incorporates the latest research and developments in the field. The book also covers topics that are often neglected or ignored in other textbooks, such as institutional economics, behavioral economics, feminist economics and ecological economics. The book also provides a historical and philosophical background of economic thought, and traces the evolution and development of economic ideas and schools.
In conclusion, Modern Economic Theory by K. K. Dewett is a book that provides a thorough and rigorous introduction to the principles and applications of economics. The book is written in a clear and engaging style, with examples and diagrams to illustrate the concepts. The book also contains exercises and questions to test the understanding of the readers. The book is suitable for undergraduate and postgraduate students of economics, as well as for those who are preparing for competitive examinations. The book is available in both print and digital formats, and can be downloaded for free from various online sources. 29c81ba772