Fundamentals of Economics for Business is an innovative text designed specifically for students in business education programs. It provides a comprehensive yet accessible introduction to the key economic issues relevant to present or future business decision-makers. Reflecting the requirements of globalization, the content is international in scope and is applicable worldwide. The material is easily adaptable to courses of different lengths and educational objectives, including a one-semester MBA course, economics courses in an undergraduate commerce or business degree, or an executive MBA program.This second edition adds significant new material on production costs, managerial economics, growth and competitiveness, and includes new case studies with applications to international business.
Business and Economics; Demand and Supply: The Basics; The Market Mechanism and the Impact of Regulation and Taxation; The Costs of Production; Two Benchmarks for Business Strategy: Perfect Competition and Monopoly; Alternative Market Structures, Business Strategy and Public Policy; The Global Economy I: The Debate over Free Trade; Economic Indicators and the Basic Data of the Macroeconomy; The Simple "Keynesian" Model and an Introduction to Fiscal Policy; Money and Inflation; Is There a Trade-Off between Inflation and Economic Growth?; The Global Economy II: The Balance of Payments and Exchange Rates; The Global Economy III: Some Topics in International Finance; Economic Growth and Competitiveness: A Macro-Micro Synthesis.