Author Description

Part One of this book deals with the theory of how money is created and destroyed. Essential principles are illustrated by considering various models of banking systems. Part Two provides an account of the modern theory of income and employment.<br><br>* Theory backed up with examples of the simplest to the most complicated models, for example:<br>* The model of "a closed economy without a government" to one in which government expenditure and revenue affect the level of national income<br>* The model in which the rate of interest and quantity of money have no effect and the model in which they are variables relevant to the determination of income