Principles of Economics

Book Details:

• ISBN: 8177556797
• Volumes: Set in 2 Volumes
• Author: A. Marshall
• Pages: 670 pp
• Year of Publishing: 2020
• Binding: Hardback
• Publisher: Cosmo Publications

Description:
Alfred Marshall's Principles of Economics is one of the most significant works in the field of economics. Originally published in 1890, it became a standard textbook for economics students and played a foundational role in shaping modern economic thought. Marshall began writing this treatise in 1881 and spent almost a decade developing it. The first volume, released in 1890, was highly acclaimed and established Marshall as one of the leading economists of his era. The second volume, intended to address topics such as foreign trade, money, taxation, and collectivism, was never published, though Marshall worked on it for over two decades.

Marshall’s work introduced key concepts that have shaped modern economics, including the use of supply and demand functions to determine prices, the marginal utility theory, and the notion of price elasticity of demand. His work on economic welfare, which introduced the concept of ‘Marshallian surplus,’ also made a significant impact. Marshall's analysis of taxes and price shifts on market welfare remains highly influential.

This two-volume set encapsulates Marshall’s contributions to economics and remains an essential work for anyone studying or interested in economic theory.