Product details
Biographical note
John Sloman was Director of the Economics Network from its foundation in 1999 until 2012 and is now Visiting Fellow at the University of Bristol where the Network is based. John is also Visiting Professor at the University of the West of England, Bristol
Elizabeth Jones is a Professor of Economics and Director of Undergraduate Studies in the Department of Economics at the University of Warwick. Elizabeth is also a lecturer on HM Treasury's Graduate Development Programme and teaches Economics for non-economists courses across various government departments.
If you are a student on a business or management degree or diploma and taking a one-semester module or short course which includes economics, then this text is written for you. The text covers the core economics that you will need as a business student, but also various business-related topics not typically covered in an introductory economics textbook, such as the business environment, organisation and strategy.
Written in a clear and friendly style with no jargon, each chapter includes topical examples, news stories and case studies from real businesses to explain and illustrate key economic concepts as well as activities, questions and useful summaries to help you check your understanding.
The new edition has been thoroughly updated to reflect recent events that have shaken the business world, including the Covid-19 pandemic, Brexit and rampant inflation caused first by supply-chain problems after global lockdowns and then by the surge in energy, input and food prices following the Russian invasion of Ukraine.
Access the free student website that accompanies this book for additional learning support, including animated explainers of key economic models, multiple choice questions, extra case studies and answers to in-text questions.
Preface
Publisher's acknowledgements
Part A INTRODUCTION- Business and the economic environment
- The working of competitive markets
- Demand and the consumer
- Supply decisions in a perfectly competitive market
- Pricing and output decisions in imperfectly competitive markets
- Business growth and strategy
- Multinational corporations and business strategy in a global economy
- Labour and employment
- Government, the firm and the market
Part D THE MACROECONOMIC ENVIRONMENT OF BUSINESS
- The economy and business activity
- National macroeconomic policy
- The global trading environment
- The global financial environment
Websites appendix
Key ideas
Glossary
- 29 Key Ideas highlighted and explained where they first appear, are fundamental to the study of economics, and students can use them in a variety of contexts to "think like an economist".
- Part opening sections & chapter opening sections introduce the material to be covered and identify the key business issues
- Detailed summaries at the end of each section allow your students to check their comprehension of a section's contents.
- Boxes with additional applied material make learning more interesting, helping business students relate economic theory to their other subjects and the world of business generally.
- All technical terms are highlighted and clearly defined in the margin - an especially useful feature in your students' revision.
- A list of relevant websites can be found in detail in the Web Appendix at the end of the book.
This seventh edition of Essential Economics for Business has been substantially revised to reflect contemporary issues, debates and policy interventions including as a result of:
- The Covid-19 pandemic
- Brexit
- Rampant inflation caused first by supply-chain problems after global lockdowns and then by the surge in energy, input and food prices following the Russian invasion of Ukraine.
- Pause for Thought questions challenge students to reflect on what they have just read.
- Box questions, with answers available on the lecturer's website, allow students to assess their own understanding.
- Student activities included in each box are designed to help your students develop important skills around research, data analysis and the communication of economic ideas and principles.
- Review questions at the end of each chapter are designed to test students' understanding of the chapter's salient points.
- 112 additional case studies appear on the companion website and contain questions for students to reflect on, with answers available on the lecturer's site.
Product details
Biographical note
John Sloman was Director of the Economics Network from its foundation in 1999 until 2012 and is now Visiting Fellow at the University of Bristol where the Network is based. John is also Visiting Professor at the University of the West of England, Bristol
Elizabeth Jones is a Professor of Economics and Director of Undergraduate Studies in the Department of Economics at the University of Warwick. Elizabeth is also a lecturer on HM Treasury's Graduate Development Programme and teaches Economics for non-economists courses across various government departments.