Economic Activity

G. C. Harcourt; P. H. Karmel; R. H. Wallace

doi:10.1017/CBO9780511560033

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.

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Contents

Frontmatter
pp i-iv
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Preface
pp v-vi
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Contents
pp vii-xii
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1 - INTRODUCTION
pp 1-6
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2 - THE NATIONAL ACCOUNTS AND THE INCOME–CREATION PROCESS
pp 7-23
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3 - THE PRODUCTION–INCOME–EXPENDITURE CIRCUIT AND NATIONAL ACCOUNTING IDENTITIES
pp 24-39
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4 - THE DETERMINATION OF THE EQUILIBRIUM LEVEL OF REAL INCOME
pp 40-61
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5 - THE CONCEPT OF FULL EMPLOYMENT
pp 62-74
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6 - MONEY IN THE ECONOMIC PROCESS
pp 75-87
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7 - THE BANKING SYSTEM AND THE QUANTITY OF MONEY
pp 88-111
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8 - THE CONSUMPTION FUNCTION
pp 112-139
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9 - THE DETERMINANTS OF INVESTMENT EXPENDITURE
pp 140-164
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10 - THE EFFECT OF CHANGES IN EXPENDITURE PLANS: THE MULTIPLIER CONCEPT
pp 165-194
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11 - THE GOVERNMENT SECTOR AND THE DETERMINATION OF REAL INCOME
pp 195-229
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12 - THE OPEN ECONOMY
pp 230-258
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13 - THE INTERACTION BETWEEN PLANNED EXPENDITURES AND FINANCIAL FACTORS
pp 259-266
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14 - INFLATION
pp 267-297
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15 - ECONOMIC POLICY
pp 298-317
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List of suggested reading
pp 318-320
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Index
pp 321-324
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Economic Activity

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Contents

Frontmatter
pp i-iv

Preface
pp v-vi

Contents
pp vii-xii

1 - INTRODUCTION
pp 1-6

2 - THE NATIONAL ACCOUNTS AND THE INCOME–CREATION PROCESS
pp 7-23

3 - THE PRODUCTION–INCOME–EXPENDITURE CIRCUIT AND NATIONAL ACCOUNTING IDENTITIES
pp 24-39

4 - THE DETERMINATION OF THE EQUILIBRIUM LEVEL OF REAL INCOME
pp 40-61

5 - THE CONCEPT OF FULL EMPLOYMENT
pp 62-74

6 - MONEY IN THE ECONOMIC PROCESS
pp 75-87

7 - THE BANKING SYSTEM AND THE QUANTITY OF MONEY
pp 88-111

8 - THE CONSUMPTION FUNCTION
pp 112-139

9 - THE DETERMINANTS OF INVESTMENT EXPENDITURE
pp 140-164

10 - THE EFFECT OF CHANGES IN EXPENDITURE PLANS: THE MULTIPLIER CONCEPT
pp 165-194

11 - THE GOVERNMENT SECTOR AND THE DETERMINATION OF REAL INCOME
pp 195-229

12 - THE OPEN ECONOMY
pp 230-258

13 - THE INTERACTION BETWEEN PLANNED EXPENDITURES AND FINANCIAL FACTORS
pp 259-266

14 - INFLATION
pp 267-297

15 - ECONOMIC POLICY
pp 298-317

List of suggested reading
pp 318-320

Index
pp 321-324

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