Written specifically for non-specialists, this textbook provides a rigorous and engaging introduction to economics in the context of the business world. Striking the perfect balance between theory and practical application, it draws on interesting real-world examples and case studies – from tech companies to football clubs – to demonstrate the relevance of key economic concepts and theories to business. Clear and insightful, it is packed with current data and innovative features to bring the subject to life for students. This edition is thoroughly updated to include coverage of topics such as market failure, austerity, international trade and Brexit.
The ideal textbook for undergraduate students studying economics on business and management degrees and for use on MBA courses.
1. Economics and business.- 2. The market.- 3. The firm.- 4. Firms' costs and revenues.- 5. Market concentration and power.- 6. Business and government.- 7. Factor markets.- 8. The macroeconomy, macroeconomic policy and business.- 9. Unemployment: causes and cures.- 10. Inflation: causes and cures.- 11. Economic growth and business cycles.- 12. Stabilizing the economy.- 13. International trade.- 14. The balance of payments and exchange rates.- 15. Globalization.
Chris Mulhearn is Reader in Economics at the Liverpool Business School at Liverpool John Moores University, UK.
Howard R. Vane is Emeritus Professor of Economics at the Liverpool Business School at Liverpool John Moores University, UK.
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