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A Textbook of Economic Theory is a comprehensive reference for students of economics. Intended to serve a single semester course in economics for beginners, the book covers a general introduction to the theory, giving readers a firm foundation in the basics before venturing to discuss advanced concepts. It focusses on the developments in macro-economic theory resulting from the interaction recently between the monetarists' and Keynesians', and accounts for monetarism and the refinements and extension of Kaynes' own ideas. The book is an indispensable resource for all students of economics. About the Authors Alfred W. Stonier was a prominent British economic theorist and academician. Douglas C. Hague was an economist and academician well known for his contributions towards the field of economics and economic theory.