Economics for Business, 3rd Ed.

Economics for Business, 3rd Ed.

By John Sloman & Mark Sutcliffe
Financial Times / Prentice Hall
June 2004
ISBN: 0273683357
794 Pages, Illustrated, 7 ž" x 10 ˝"
$95.00 paper original

The aim of this text is to make the intriguing subject of economics more accessible and relevant to those studying the subject as part of a business-related degree. The book covers all of the major principles of economics but its focus throughout is firmly on applying these economic principles to the real world of business.

The third edition of this highly successful textbook is written in a direct and straightforward style, making considerable use of business examples throughout to illustrate how economics can be used to understand business problems and the business environment. It has been thoroughly revised and updated to reflect current issues.

Features

Extensive supplementary support. The text is equipped with a Companion website (www.booksites.net/sloman) and an Instructors Resource CD-ROM

A Comprehensive index, including reference to all defined terms

A wealth of interesting material and case studies, which show how economics can be used to understand real business situations

Coverage of all major topics of economics, but also includes several specialist business chapters and sections (e.g. the business environment, marketing the product, growth strategies, the small-firm sector, multinational corporations, etc.)

Provides a balanced coverage of microeconomic, macroeconomic and international economic issues, with the emphasis on the economics and environment of business

Web references at the end of each chapter

FT Reports at the beginning of each section, which examine topical news stories

A range of features to aid learning, including: Definitions in the margin of all key terms; Review questions; A comprehensive Web appendix; Chapter summaries; Technical terms highlighted clearly in the margin

Contents

Preface

Part A: Business and economics
1. The business environment and business economics
2. Economics and the world of business
3. Business organizations

Part B: Business and markets
4. The working of competitive markets
5. Business in a market environment

Part C: Background to demand
6. Demand and the consumer
7. Demand and the firm
8. Product, marketing and advertising

Part D: Background to supply
9. Costs of production
10. Revenue and profit

Part E: Supply: short-run profit maximization
11. Profit maximization under perfect competition and monopoly
12. Profit maximization under imperfect competition

Part F: Supply: alternative strategies
13. An introduction to business strategy
14. Alternative theories of the firm
15. Growth strategy
16. The small-firm sector
17. Pricing strategy

Part G: The firm in the factor market
18. Labor markets, wages and industrial relations
19. Investment and the employment of capital

Part H: The relationship between government and business
20. Reasons for government intervention in the market
21. Government and the firm
22. Government and the market

Part I: Business in the international environment
23. Globalization and multinational business
24. International trade
25. Trading blocs

Part J: The macroeconomic environment
26. The macroeconomic environment of business
27. The balance of payments and exchange rates
28. Money and interest rates
29. Business activity, employment and inflation

Part K: Macroeconomic policy
30. Demand-side policy
31. Supply-side policy
32. International economic policy

Web appendix
Key ideas Index

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