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Readership: Undergraduate and MBA students studying first level economics as a part of a business studies or management course.
K. Alec Chrystal, Professor of Monetary Economics, City University Business School, and Richard G. Lipsey, Canadian Institute of Advanced Research at Simon Fraser University, Vancouver
"This text is exceptionally well written and covers an impressive range of topics. The authors have included excellent, topical..examples in the text which will help business students in particular to appreciate the importance of economics in any management course." - Hilary Ingham, Economics Department, University of Lancaster
"The book is ideal for business studies courses which require a knowledge of introductory economics. The coverage of economic principles is clear and accessible, while the many real world examples are both illuminating and informative." - Steve Dobson, Department of Economics, University of Hull
Part 1: Firms and Markets 1. Introduction to economics and business Section 1. Markets and Prices 2. Demand, supply and price 3. Elasticity of demand and supply Section 2. Optimization of the firm 4. The firm, production and profit 5. Costs and output 6. Profit maximization Section 3. Firms and Competition 7. Firms in imperfect markets I: monopoly and monopolistic competition 8. Firms in imperfect markets II: oligopoly and business strategy 9. Government and the market Section 4. Economics of Business 10. The economics of employment 11. The economics of investment 12. The economics of business organizations Part II The Economy as a Whole Section 5. National Product and National Income 13. Macroeconomic issues and measurement 14. A basic model of the determination of GDP 15. GDP in an open economy with government 16. Aggregate demand and aggregate supply Section 6 Macroeconomic Policy 17. GDP, the price level and fiscal policy 18. Money and monetary policy 19. The balance of payments and exchange rates 20. Government policy and the business cycle
