Business Economics

Business Economics is aimed at business students who need a solid, but not excessively theoretical, introduction to economics which focuses on the contribution economics can make to the study of business policy. In addition to the standard economics of supply, demand, costs, and competition, the text places special emphasis on specifically business-oriented issues such as transaction costs, rents, sustainable competitive advantage, the resource-based view of the firm, corporate architecture, corporate governance, diversification and acquisitions, an outline of macroeconomics, forecasting, and an introduction to public policy. The text has been structured closely to meet existing business courses, and a section in the introduction recommends particular permutations of chapters to suit the different courses available. Each chapter contains an introduction covering the key concepts used, a further reading list, discussion questions and a conclusion summarizing what the student should have learnt. The book is extensively illustrated with figures, tables and other displayed material, and simple algebra will be all that is required by way of mathematical understanding. Business students will find this book is precisely tailored to meet their needs for successful study.

Readership: MBA business economics courses; 1st and 2nd year undergraduate students of business economics and business studies; also of relevance to graduates and undergraduates studying Management with managerial economics course modules.

Roger Perman, Senior Lecturer in Economics, University of Strathclyde, and John Scouller, Lecturer in Economics, University of Strathclyde

"Any business studies student who has little or no understanding of economic principles could make use of this book. It uses easy language to introduce technical phrases. Each chapter ends with a helpful conclusion, organised and graded questions and a well-thought out, thorough list of additional readings. All the expected areas of the economics curriculum are covered. Rod Gunn, The Times Higher Education Supplement, February 2000"

Introduction
PART I: THE SEARCH FOR VALUE, MARKETS, CONSUMERS AND FIRMS
1: Economic Activity and Value Creation
2: The Operation of the Market, Market Forces and Market Equilibrium
3: Individual Choices, the Supply of Work, and the Demand for Goods
4: The Nature, Purpose, and Objectives of Firms
5: The Search for Added Value and the Costs of Production
PART II: THE SEARCH FOR VALUE, PRICES, PROFITS, AND THE FIRM'S COMPETITIVE ENVIRONMENT
6: The Competitive Market Model
7: The Monopoly Model and Barriers to Entry
8: Oligopoly and Strategic Competition
PART III: THE SEARCH FOR VALUE, VALUE CREATION, THE SCOPE OF THE FIRM, AND ITS GOVERNANCE
9: The Search for Value and the Firm's Investment Decisions
10: Value Creation and Sustainable Competitive Advantage
11: Value Creation, the Scope of the Firm, and Acquisitions
12: Ownership, Management, and the Search for Value
PART IV: THE SEARCH FOR VALUE AND THE WIDER ENVIRONMENT OF THE FIRM
13: The Search for Value and the Legislative and Regulatory Environment
14: The Firm and the Macroeconomic Environment
15: Economic Forecasting
16: The Search for Value, International trade, and Economic Performance
Bibliograpjy
Index