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Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
|---|---|---|---|---|---|
Searching... | 30000010275723 | HD30.22 G75 2011 | Open Access Book | Book | Searching... |
Searching... | 30000010301851 | HD30.22 G75 2011 | Open Access Book | Book | Searching... |
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Summary
Summary
Economics for Business and Management offers an exciting introduction to the principles and applications of microeconomics and macroeconomics to the global business problems faced by today's decision makers:
· What are the characteristics for successful entry into new international markets?
· How can 'sustainability' affect decision making within businesses?
· Why are today's global investors so concerned about national debt issues?
· In what ways does an awareness of cultural differences improve decision making by international marketing and human resource strategists?
· What strategies can companies such as BP use to repair damaged global reputations?
It is an ideal text for introductory courses in economics with a business and management focus and more general business environment courses with an economic underpinning.
Visit the fantastic website at www.pearsoned.co.uk/griffithswall to find extra practice questions, interactive activities, quizzes and exam style practice questions with instant feedback, as well as podcasts, news articles, animated professional power points slides and a testbank of questions.
Author Notes
Alan Griffiths is Reader in Economics at the Ashcroft International Business School, Anglia Ruskin University.
Stuart Wall is Professor of Business and Economics Education at the Ashcroft International Business School, Anglia Ruskin University.
Table of Contents
| Guided tour |
| Guide to the main focus of case studies |
| About the authors |
| Preface: using this book |
| Acknowledgements |
| Part I Micro Business Environment |
| 1 Markets and resource allocation |
| Introduction |
| What you'll learn |
| Wants, limited resources and choice |
| Demand curves and functions |
| Supply curves and functions |
| Price determination |
| Changes in market price and quantity |
| Resource allocation in different economic systems |
| Recap |
| Key terms |
| 2 Demand, revenue and consumer behaviour |
| Introduction |
| What you'll learn |
| Price elasticity of demand (PED) |
| Price elasticity of demand (PED) and revenue |
| Total, average and marginal revenue |
| PED and tax incidence |
| Other elasticities of demand |
| The 'Veblen effect' and consumer behaviour |
| Consumer surplus |
| Utility and consumer behaviour |
| Recap |
| Key terms |
| 3 Supply, production and cost |
| Introduction |
| What you'll learn |
| The factors of production |
| Combining factors of production: the laws of returns |
| Costs of production: short run |
| Costs of production: long run |
| Deciding whether to produce in the short run and the long run |
| Price elasticity of supply (PES) |
| Outsourcing and cost |
| Governments, location and cost |
| Producer surplus |
| Recap |
| Key terms |
| 4 Business organisation, objectives and behaviour |
| Introduction |
| What you'll learn |
| Types of business organisation |
| Business objectives: maximising |
| Business objectives: non-maximising behaviour |
| Does firm objective matter? |
| Profit, ethics and the environment |
| Business behaviour |
| Corporate governance |
| Product life cycle |
| Recap |
| Key terms |
| 5 Firm size, mergers and the 'public interest' |
| Introduction |
| What you'll learn |
| Small to medium-sized enterprises (SMEs) |
| Small firm survival |
| Small firms and the UK economy |
| Growth in firm size |
| Mergers: who benefits? |
| Types of merger activity |
| Explanations of merger activity |
| Demerging |
| Mergers and the public interest |
| Recap |
| Key terms |
| 6 Market structures |
| Introduction |
| What you'll learn |
| Perfect competition |
| Contestable market theory |
| Monopoly |
| Monopolistic competition |
| Oligopoly |
| Recap |
| Key terms |
| 7 Labour and other factor markets |
| Introduction |
| What you'll learn |
| Factor payments and derived demand |
| Occupational differences in wages and employment |
| Imperfectly competitive labour markets |
| UK labour market regulations |
| EU Social Chapter |
| Flexible working and work-life balance |
| Gender and ageism |
| Transfer earnings and economic rent |
| Recap |
| Key terms |
| 8 Market failure, regulation and competition |
| Introduction |
| What you'll learn |
| Types of market failure |
| Correcting 'market failures' |
| Regulation |
| Deregulation and privatisation |
| Regulation of privatised companies |
| UK competition policy |
| EU competition policy |
| Recap |
| Key terms |
| Part II Macro Business Environment |
| 9 National income determination |
| Introduction |
| What you'll learn |
| National income |
| National income: definitions and measurement |
| National income data: international comparisons |
| Components of the circular flow |
| Equilibrium in the circular flow: W/J approach |
| Equilibrium in the circular flow: 45° diagram approach |
| Equivalence of the two approaches |
| Changes in national income |
| National income multiplier |
| Inflationary and deflationary gaps |
| Recap |
| Key terms |
| 10 Government policies: instruments and objectives |
| Introduction |
| What you'll learn |
| Fiscal policy |
| Taxation |
| Government expenditure |
| Fiscal policy and stablisation |
| Monetary policy |
| Aggregate demand and aggregate supply analysis |
| Inflation |
| Employment and unemployment |
| Balance of payments |
| Exchange rate |
| Economic growth |
| Financial intermediation: post credit crunch |
| Recap |
| Key terms |
| 11 Political, legal, ecological and technological environment |
| Introduction |
| What you'll learn |
| Political environbsp; |
| Ecological environment |
| Technological environment |
| Recap |
| Key Terms |
| 12 Functions of management: domestic business environment |
| Introduction |
| What you'll learn |
| Marketing |
| Marketing mix |
| Human resource management |
| Accounting and management |
| Recap |
| Key terms |
| 13 International business environment |
| Introduction |
| What you'll learn |
| The internationalisation process |
| International business environment |
| Multinational enterprise (MNE) |
| International human resource management (IHRM) |
| International marketing |
| International marketing mix |
| European Union (EU) |
| North America |
| East and South East Asia |
| International institutions and international business |
| Free trade and government protectionism |
| Recap |
| Key terms |
| 14 Strategies in a globalised business environment |
| Introduction |
| What you'll learn |
| Strategic frameworks for corporate activity |
| SWOT and PESTLE analyses |
| Porter's Five Forces analysis |
| Portfolio analysis |
| National strategic perspectives |
| Globalisation and strategic options for MNEs |
| Strategic joint ventures and alliances |
| Recap |
| Key terms |
| Appendix 1 Indifference curves, budget lines and the 'law of demand' |
| Appendix 2 Isoquants, isocosts and production |
| References |
| Answers to Stop and think and You try |
| Index |
