An Economic History of the United States
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An Economic History of the United States

Connecting the Present with the Past

Mark V. Siegler

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eBook - PDF

An Economic History of the United States

Connecting the Present with the Past

Mark V. Siegler

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About This Book

This pioneering textbook takes a thematic approach to the subject, resulting in a comprehensive understanding of historic economic issues in the United States. Siegler takes a thematic approach, and provides both the theoretical foundations and historical background needed to gain an in-depth understanding of the subject. Every chapter examines a specific topic, and the chapters are linked to each other to provide an overall view. The chronological approach is represented with a useful timeline as an appendix to show where the specific topics fit in the chronology. Chapter topics include: long-run causes of economic growth; economic history of income and wealth inequality; slavery, segregation, and discrimination; immigration and immigration policies; and an economic history of recessions and depressions. This book is ideally suited as a primary text for undergraduate courses in US economic history, as well as suitable courses on history degree programmes.

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Information

Publisher
Red Globe Press
Year
2017
ISBN
9781137393968
Edition
1
Topic
Economics
Subtopic
Economic History
Index
Economics
Introduction 
to 
U.S. 
Economic 
History
15
The 
equilibrium 
quantity 
under 
perfect 
competition 
(
Q
PC
) 
ensures 
that 
the 
aggre-
gate 
of 
consumer 
and 
producer 
surplus 
is 
at 
a 
maximum 
and 
that 
the 
marginal 
deci-
sion 
rule 
(
MB
5
MC
) 
is 
satisfied 
(
Figure 
1.7
). 
If 
the 
quantity 
is 
less
than 
Q
PC
, 
then 
the 
value 
to 
buyers 
exceeds 
the 
costs 
to 
sellers 
(
MB
.
MC
). 
If 
the 
quantity 
is 
greater
than 
Consumer
Surplus
Producer
Surplus
Supply
Demand
Quantity
Price
P
PC
Q
PC
FIGURE 
1.6 
Consumer 
and 
Producer 
Surplus 
with 
Perfect 
Competition
Supply
Demand
Quantity
Q
PC
Value 
to
buyers
Value 
to
buyers
Cost 
to
sellers
Cost 
to
sellers
Price
Value 
to 
buyers 
is 
greater 
than
cost 
to 
sellers
Value 
to 
buyers 
is 
less 
than 
cost
to 
sellers
FIGURE 
1.7 
Market 
Efficiency 
with 
Perfect 
Competition

Table of contents