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Full Description
Grasp essential economic concepts applied to the business world. If you are a student on a business or management degree or diploma and taking a one-semester module or short course which includes economics, then this text is written for you. The text covers the core economics that you will need as a business student, but also various business-related topics not typically covered in an introductory economics textbook, such as the business environment, organisation and strategy.
Written in a clear and friendly style with no jargon, each chapter includes topical examples, news stories and case studies from real businesses to explain and illustrate key economic concepts as well as activities, questions and useful summaries to help you check your understanding.
The new edition has been thoroughly updated to reflect recent events that have shaken the business world, including the Covid-19 pandemic, Brexit and rampant inflation caused first by supply-chain problems after global lockdowns and then by the surge in energy, input and food prices following the Russian invasion of Ukraine.
Access the free student website that accompanies this book for additional learning support, including animated explainers of key economic models, multiple choice questions, extra case studies and answers to in-text questions.
Contents
Preface
Publisher's acknowledgements
Part A INTRODUCTION
Business and the economic environment
Part B MARKETS, DEMAND AND SUPPLY
The working of competitive markets
Demand and the consumer
Supply decisions in a perfectly competitive market
Part C THE MICROECONOMIC ENVIRONMENT OF BUSINESS
Pricing and output decisions in imperfectly competitive markets
Business growth and strategy
Multinational corporations and business strategy in a global economy
Labour and employment
Government, the firm and the market
Part D THE MACROECONOMIC ENVIRONMENT OF BUSINESS
The economy and business activity
National macroeconomic policy
The global trading environment
The global financial environment
Websites appendix
Key ideas
Glossary
