This innovative new text from Jeffrey Sachs and Xiokai Yang introduces students to development economics from the perspectives of inframarginal analysis and marginal analysis. The book demonstrates how the new-found emphasis on inframarginal analysis has influenced a shift back to an interest in Classical Economics from Neoclassical Economics.

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• Inframarginal Analysis vs. Marginal Analysis is presented as a consistent theoretical framework throughout.
  
• Shows how the relationship of Inframarginal Analysis to Marginal Analysis has influenced the shift back to an interest in Classical Economics from Neoclassical Economics with regard to economic development.
  
• Allows economists to reduce their overall reliance on marginal analysis, which may be less relevant to development economics than it is to the economics of development countries.
  
• Brings considerable analytic machinery to bear on important problems.
  
• A focus on institutions and transaction costs that is very relevant to development economics.
  
• Offers a thorough analysis of trade (CHs. 3 - 7) and macroeconomics (CHs. 16 - 19), both of which are not dealth with in depth by comparable textbooks.

About the Author
Xiaokai Yang is a Personal Chair Professor in the Department of Economics at Monash University and a Fellow of the Academy of Social Sciences in Australia. His research papers have appeared in The American Economic Review, Journal of Political Economy, Journal of Economics, and other journals. He is the author of Economics: New Classical versus Neoclassical Frameworks (Blackwell, 2000).

Reviews
"Economic Development and the Division of Labor is an exciting contribution that offers innovative perspectives on growth and development. It covers a void in the literature, and provides a rich and deep interpretation of the impact of endogenous specialization, institutions, and economic structure on growth. The text strikes a very good balance between the intuitive and analytical discussions, and relies constantly on references to contemporary data and the problems facing developing countries." Joshua Aizenman, Dartmouth College

"Economists, whatever their speciality, will find the book rewarding to read and stimulating to teach." Merton J. Peck, Yale University

"Xiaokai Yang is one of the world's most penetrating and exacting economic theorists, and one of the most creative minds in the economics profession." Jeffrey D. Sachs, Columbia University

Book Information
ISBN 9780631220039
Author Xiaokai Yang
Format Hardback
Page Count 660
Imprint Wiley-Blackwell
Publisher John Wiley and Sons Ltd
Weight(grams) 1261g
Dimensions(mm) 254mm * 173mm * 41mm