Business Economics,
3rd Edition

Part I: The Economic and Business Environment
1. What Is Business Economics?
2. Economics and Business Decision Making
3. The Business Environment

Part II: Microeconomics – The Market System 
4. Supply and Demand: How Markets Work
5. Elasticity and Its Applications
6. Governments and Markets

Part III: Microeconomics – The Limitations of Markets 
7. Market Failure
8. The Consumer and Consumer Behaviour

Part IV: Microeconomics – The Economics of Firms in Markets 
9. Costs and Revenues in Production  
10. Business Goals and Behaviour
11. Firm Behaviour and the Organization of Industry
12. Market Structures – Perfect Competition
13. Market Structures – Monopoly
14. Market Structures – Imperfect or Monopolistic Competition
15. Market Structures – Oligopoly
16. Corporate Strategy and Pricing Policy

Part V: Microeconomics – Factor Markets 
17. Factor Markets
18. Financial Markets

Part VI: Introduction to Macroeconomics 
19. The Macroeconomic Environment
20. Aggregate Demand and Aggregate Supply as a Model to describe the Economy
21. Government Economic Policy and the Effect on Business: Fiscal, Monetary and Supply-Side Policy

Part VII: Global Business and Economics 
22. The Global Economy
23. Issues in Global Business and Economics

• N. Gregory Mankiw

  N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. For 14 years he taught EC10 Principles, the most popular course at Harvard. Dr. Mankiw studied economics at Princeton University and MIT. He is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy and economic growth. Dr. Mankiw's articles have appeared in academic journals such as the American Economic Review, Journal of Political Economy and Quarterly Journal of Economics. His work has also appeared in more widely accessible forums, including The New York Times, The Washington Post, The Wall Street Journal and Fortune. Dr. Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office and a member of the ETS® test development committee for the advanced placement exam in economics. From 2003 to 2005, Dr. Mankiw served as chairman of the President’s Council of Economic Advisers.

• Mark P Taylor

  Mark P. Taylor is Dean of the John M Olin Business School at Washington University, US and was previously Dean of Warwick Business School at the University of Warwick, UK. He obtained his first degree in philosophy, politics and economics from Oxford University. He then worked as a foreign exchange dealer in London for two years while simultaneously studying part-time for a master’s degree in economics at London University, from where he also holds a doctorate in economics. Professor Taylor has taught economics at various universities (including Warwick, Oxford, Marseille and New York), at various levels (from principles courses to advanced graduate and MBA courses) and in various fields (including macroeconomics, microeconomics and econometrics). He also worked for several years as a senior economist at the International Monetary Fund and before that at the Bank of England. His work has been extensively published in scholarly journals, such as the Journal of Political Economy and the Economic Journal, and he is today one of the most highly cited economists in the world in economic research. In addition, Professor Taylor has acted as an advisor to the International Monetary Fund, the World Bank, the Bank of England, the European Commission and to senior members of the UK government. He is a research fellow of the Centre for Economic Policy Research, a member of council of the Royal Economic Society, and a fellow of both the Royal Statistical Society and the Royal Society of Arts.

• Andrew Ashwin

  Andrew has over thirty years’ experience as a teacher and author across all levels of education. His speciality lies within assessment, having been a former chair of examiners for a major awarding body in the UK for business and economics, a Fellow of the Chartered Institute of Educational Assessors and a consultant for regulatory bodies. Andrew has written texts on business and economics across different levels, including A-level and undergraduate economics texts, has had articles published as a result of his PhD research and has worked on a wide range of online learning tools. He has been the editor of Teaching Business and Economics, the journal of the Economics, Business and Enterprise Association (EBEA), and Head of Higher and Vocational Education Publishing for a major global higher education publisher. Andrew is currently an associate lecturer in the Department of Management in the Lincoln International Business School at the University of Lincoln.

• New content on the global economy, Brexit, the gig economy and international trade theories ensure that students are up to date with the latest changes in business economics.

• New chapter structure and content reorganization reflects the way Business Economics is taught.

• The “In the News” and “Case Study” features have been updated, providing real life examples that are relevant to the current business world.

• Assessment questions such as critical thinking questions and multiple-choice questions are available in MindTap and have been expanded and updated, providing even more opportunity for students to revise and test what they have learned and for you to assess your students.

• “In the News” feature boxes show the real-life connection of economics to business decisions.

• Pedagogical features throughout, including up to date figures and tables with real world data, cases, “What If…” scenarios and “Quick Quizzes” reflect the global business-focused content and are a useful revision aid.

• Economics terminology is applied in a business sense, demonstrating the practical applications of economics.

• Additional assessment questions such as critical thinking questions and multiple-choice questions are available in MindTap providing the opportunity for students to revise and test what they have learned and for you to assess your students.

• Extra cases in MindTap provide even more examples of how economics is applied in a business setting.

• MindTap videos and audio guides offer a fun and engaging way for students to learn key concepts.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

Cengage eBook: Business Economics 12 Months
9788000042800