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This textbook offers a succinct introduction to the world of business. With the perfect balance between economic theory and practical application, the third edition takes a contemporary approach to the subject by drawing on relevant examples and real-world case studies to explain key concepts and economic theory. It introduces students to multiple perspectives on a wide range of topics including the credit crunch, emerging markets and globalization, the role of the banking system in affecting money supply, the state of macroeconomics and also coverage of New Keynesianism. Clear and insightful, Economics for Business encourages critical thinking while it entertains with witty references, satirical cartoons and thought-provoking questions.
This textbook will be core reading for first year undergraduate students studying modules in economics for business as well as students studying business and management degree courses, accounting degree courses and MBA modules for business.
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.