Preface to: Inframarginal Economics

Increasing Returns and Inframarginal Economics, Vol. 4, 2008

4 Pages Posted: 22 Apr 2010

See all articles by Xiaokai Yang

Xiaokai Yang

Monash University - Department of Economics

Wai-Man (Raymond) Liu

Australian National University (ANU) - School of Finance and Applied Statistics

Date Written: December 22, 2008

Abstract

This research monograph provides systematic and comprehensive materials for applying inframarginal analysis to study a wide range of economic phenomena. The analysis is based on a new overarching framework to resurrect the classical notion of division of labor and specialization, which is an essential source of increasing a nation’s wealth. The framework absorbs many classical and neo-classical insights in a general equilibrium analysis and explains many micro- and macro-phenomena. Many areas of the discipline that have been customarily treated as separate branches can now be analyzed systematically within this integrated framework. These include, for example, micro-economics; macro-economics; development economics; international economics; urban economics; growth theory; industrial organization; applications of game theory in economics; economics of property rights; economics of transaction costs; economics of institutions and contract; economics of organization; economics of states; managerial economics; theory of hierarchy; new theory of the firm; theory of money; theory of insurance; theory of network and reliability.

Keywords: Inframarginal Economics, Inframarginal Analysis, Division of Labor, Specialization, Network Effects, Smithian Framework, Transaction Costs

Suggested Citation

Yang, Xiaokai and Liu, Wai-Man (Raymond), Preface to: Inframarginal Economics (December 22, 2008). Increasing Returns and Inframarginal Economics, Vol. 4, 2008. Available at SSRN: https://ssrn.com/abstract=1470581

Xiaokai Yang (Contact Author)

Monash University - Department of Economics ( email )

Wellington Road
Clayton, Victoria 3
Australia
+61-3-99052448 (Phone)
+61-3-99055476 (Fax)

Wai-Man (Raymond) Liu

Australian National University (ANU) - School of Finance and Applied Statistics ( email )

Building 26c College of Business & Economics
Australian National University
Acton, Canberra ACT, Australian Capital Territory 2601
Australia
+61 2 612 53471 (Phone)
+61 2 612 50087 (Fax)

HOME PAGE: http://https://researchers.anu.edu.au/researchers/liu-wm

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