Offering an integrative approach, this book uses references to real world examples to demonstrate how modern economics can illuminate the problems that businesses face every day. Thus, the text emphasizes economic reasoning as the solution to business problems, rather than simply providing business applications to reinforce standard economic analysis.
Offering an integrative approach, this book uses references to real world examples to demonstrate how modern economics can illuminate the problems that businesses face every day. Thus, the text emphasizes economic reasoning as the solution to business problems, rather than simply providing business applications to reinforce standard economic analysis.
Section I: Introduction
Chapter 1: Economics for Business
Section II: Understanding Markets
Chapter 2 Consumers in the Market Place
Chapter 3 Firms in the Market Place
Chapter 4 Markets in Action
Section IIICompetition and Profitability
Chapter 5 Market Structure and Firm Performance
Chapter 6 Strategic Rivalry
Chapter 7 Growth Strategies
Chapter 8 Governing Business
Section IVDomestic Macroeconomics
Chapter 9Introduction to the Macroeconomy
Chapter 10 Measuring Macroeconomic Variables and Policy Issues
Chapter 11 Domestic Government Policy
Chapter 12 Supply Side Policies and Economic Growth
Section VGlobal Economics
Chapter 13 Exchange Rates and the Balance of Payments
Chapter 14 Globalization
David Begg is Principal of the Tanaka Business School at Imperial College London. He has been a Research Fellow of the Centre for Economic Policy Research (a network of leading European economists) since its inception in 1984. David's research focuses mainly on monetary policy, exchange rates, monetary union, and economic transition. He is a Research Fellow of the Centre for Economic Policy Research. He co-authored several of the CEPR annual reports in the series he helped found: Monitoring the European Central Bank, and Monitoring European Integration. The 1997 MEI Report, EMU: Getting the Endgame Right, changed the policy that the European Union adopted to launch the euro in 1999. He was also founding Managing Editor of Economic Policy, now an official journal of the European Economic Association.
Taken from the Economic Outlook and Business Review Volume 19.4 November/December 2004 The discipline of economics, particularly at the introductory level, is often taught in a multidisciplinary context. Undergraduates specialising in, for example, business, law or politics are often required to take an introductory economics module. From an economics discipline perspective, such students are known as "non specialists" since they will not pursue a full undergraduate programme in economics. The requirements of the non-specialist market in economics are radically different from the specialist market. In the context of contemporary undergraduate economics teaching the vast majority of students are non-specialists. This poses a dilemma for authors of economics texts (and teachers too) - one must be very clear whether the text is aimed at the specialist or non-specialist market. A text aimed at one market will likely be unsuitable for the other market. The marketing of non-specialist economics text is very competitive as publishers seek to attract and hold interest in a particular text. This competitive edge has had a beneficial impact on the quality of non-specialist economics texts. The text reviewed here is an excellent example of the consequences of the very competitive non-specialist market. Economics for Business is a text aimed at business students who need to understand the economics behind business issues. The issues emphasized in the text cover not only key business decisions such as product pricing, profit generation, business governance and business growth strategies, but also factors affecting economic environment within which business decisions are taken - market structure, government policy, exchange rates, globalisation and national economic growth. Significant effort has been taken in this volume to ensure that rationale for the economics included is business focused. In addition, the presentation of the underlying economic principles is excellent. The overall appearance and presentational style is visually striking and extremely attractive. The annotated graphics accompanying the text are also excellent. Each chapter begins with a "chapter map" which is an executive summary of the chapter, followed by an "economics at a glance" text book which highlights the business issue to be addressed in the chapter. The text box also contains a brief statement explaining the relevance of the accompanying economics for understanding the business issue. The use of real-world business examples in every chapter also reinforces the relevance of economics within a business context. This is an excellent introductory economics text aimed specifically at business students. It will, however, be of use to anyone with a business background wishing to know more about the economic environment. Economic Affairs 20041201
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