Business Economics

Part I: The Economic and Business Environment 1. What Is Business Economics?2. Economics and Business Decision Making3. The Business EnvironmentPart II: Microeconomics The Market System 4. Supply and Demand: How Markets Work5. Elasticity and Its Applications6. Governments and MarketsPart III: Microeconomics The Limitations of Markets 7. Market Failure8. The Consumer and Consumer BehaviourPart IV: Microeconomics The Economics of Firms in Markets 9. Costs and Revenues in Production 10. Business Goals and Behaviour11. Firm Behaviour and the Organization of Industry12. Market Structures Perfect Competition 13. Market Structures Monopoly14. Market Structures Imperfect or Monopolistic Competition15. Market Structures Oligopoly16. Corporate Strategy and Pricing PolicyPart V: Microeconomics Factor Markets 17. Factor Markets18. Financial Markets Part VI: Introduction to Macroeconomics 19. The Macroeconomic Environment20. Aggregate Demand and Aggregate Supply as a Model to describe the Economy21. Government Economic Policy and the Effect on Business: Fiscal, Monetary and Supply-Side PolicyPart VII: Global Business and Economics 22. The Global Economy23. Issues in Global Business and Economics

N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and the Massachusetts Institute of Technology. As a teacher he has taught macroeconomics, microeconomics, statistics and principles of economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. In addition to his teaching, research and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research and an advisor to the Federal Reserve Banks of Boston and New York and the Congressional Budget Office. From 2003 to 2005, he served as chairman of the US President s Council of Economic Advisors and was an advisor to presidential candidate Mitt Romney during the 2012 US presidential election. Mark P. Taylor is the Donald Danforth, Jr Distinguished Professor of Finance at the Olin Business School at Washington University in St Louis, USA. He was previously Dean of the Olin Business School and, before that, Dean and Professor of Finance and Economics at Warwick Business School at the University of Warwick, UK. He obtained his first degree in philosophy, politics and economics from Oxford University and his Master s and Doctoral degrees in economics and finance from London University. Professor Taylor has taught economics and finance at various universities (including Oxford, New York, Bordeaux and Aix-Marseille) and at various levels (including principles courses and advanced undergraduate and postgraduate courses). He has also worked as a senior economist at the International Monetary Fund and at the Bank of England and as a managing director at BlackRock, the world s largest financial asset manager, where he ran a global investment fund based on macroeconomic analysis. His research has been extensively published in scholarly journals and he is today one of the most highly cited economists in the world. Andrew Ashwin is an Associate Lecturer in