In Economy and Economic Analysis, author Robert
Black introduces the student to economic theory in
a fresh and pragmatic way. Beyond an impressive
analysis of economic principles and models, Dr.
Black demonstrates how people actually behave in
the economy, focusing on the ethical ramifications
of economic decisions.
Economy and Economic Analysis includes a clear
five-step approach to explaining the effects of
shifts in demand or supply, emphasizing the
actual market process. Dr. Black integrates key
ideas from accounting, management, and
finance into the analysis of production, as well
as a highly intuitive circular-flow model to teach
In reviewing mainstream economic ideas, Dr.
Black surveys competitive views from other
perspectives, balancing them against ethical,
historical, legal, political, and sociological
ideas. Addressing the intersection of
economic ideas and faith, he energizes
students to examine economics in the light
of their Christian commitment.
"Scarcity is the fundamental economic problem, arising because our wants are limitless while our resources are not. Economizing is doing the best we can with what we have. Economic analysis explores how best to achieve this."
Robert Black, Ph.D.