Business Economics

Business Economics builds on the authority, clarity and real-world relevance of Economics by Gregory Mankiw and Mark Taylor (two of the world’s leading economists) to create an introductory economics textbook fully focused on the curriculum and pedagogical needs of business economics students. Business Economics has a superb logical structure. The classic ten principles approach to economics is retained and right at the outset the text considers the business environment so immediately establishing the book’s business focus. Both microeconomics and macroeconomics are then comprehensively covered and each perspective is carefully mined for insights directly relevant to business economics students. A final part examines the implications of economic globalization for the conduct of business internationally. Business Economics is a global textbook with a particular focus on Europe, the Middle East and Africa; it is replete with examples from all these regions. This text is ideal for use on both business economics degrees and on business economics modules on business, engineering and social science courses at undergraduate level. It is also ideal for use on MBA courses.

Table of Contents

PART 1 The Economic and Business Environment – Setting the Scene
Chapter 1: What Is Business Economics?
Chapter 2: Economics and Business Decision Making
Chapter 3: The Business Environment

PART 2 Microeconomics – The MarketSystem
Chapter 4: Supply and Demand: How Markets Work
Chapter 5: Elasticity and Its Applications

PART 3 Microeconomics – The Limitations of Markets
Chapter 6: Market Failure
Chapter 7: The Consumer and Consumer Behaviour

PART 4 Microeconomics – The Economics of Firms In Markets
Chapter 8: Business Goals and Behaviour
Chapter 9: Firm Behaviour and the Organization of Industry
Chapter 10: The Firm’s Production Decisions
Chapter 11: Corporate Strategy and Pricing Policy
Chapter 12: Market Structures
Chapter 13: Other Types of Imperfect Competition

PART 5 Microeconomics – Factor Markets
Chapter 14: Labour Markets
Chapter 15: Financial Markets

PART 6 Introduction to Macroeconomics
Chapter 16: The Macroeconomic Environment
Chapter 17: Aggregate Demand and Aggregate Supply
Chapter 18: Macroeconomics – Employment and Unemployment
Chapter 19: Macroeconomics – Inflation and Price Stability
Chapter 20: Macroeconomics – Fiscal, Monetary and Supply-Side Policy

PART 7 Global Business and Economics
Chapter 21: The Global Economy