Professor Nam Jong-oh of National Pukyong University Publishes Translation of "Principles of Economics"

Professor Nam Jong-oh, Department of Resource and Environmental Economics, Pukyong National University.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Dooyul] The "Principles of Economics," translated by Professor Nam Jong-oh of the Department of Resource and Environmental Economics at Pukyong National University, was recently published.

The book, originally written by Professors Betsy Stevenson and Justin Wolfers of the University of Michigan, was jointly translated by Professor Nam Jong-oh, Kim Taegi of Dankook University, Koo Gyun of Kyonggi University, Kwon Wonsun of Hankuk University of Foreign Studies, Kim Myungsoo of Catholic University, Kim Taebong and Kim Hanseong of Ajou University, Son Jongchil of Hankuk University of Foreign Studies, and Lee Daechang of Hongik University.

The book presents four principles?marginal analysis, cost-benefit, opportunity cost, and interdependence?as answers to how economics as a discipline can be applied in real life.

It is gaining attention as a modern and consistent work that unravels economic theory based on the presented principles.

The book is divided into nine parts and 35 chapters, covering topics such as ▲Basics of Economics ▲Market Analysis ▲Applications of Theory and Policy Issues ▲Market Structure and Business Strategy ▲Advanced Decision Making ▲Macroeconomic Foundations and Long Term ▲Microfoundations of Macroeconomics ▲Business Cycles ▲Macroeconomic Policy, offering a new perspective on the principles of economics.

Professor Nam Jong-oh said, “I hope this book will be widely introduced and known among Korean economics students, making economics not boring and rigid but interesting and enjoyable.”

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