Business Economics,
4th 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. Taxes and subsidies

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. Business organization
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
17. Supply chains

PART V. MICROECONOMICS: FACTOR MARKETS
18. Labour markets
19. Financial markets

PART VI. INTRODUCTION TO MACROECONOMICS
20. The macroeconomic environment
21. Aggregate demand and aggregate supply as a model to describe the economy
22. Government economic policy and the effect on business: Fiscal, monetary and supply side policy

PART VII. GLOBAL BUSINESS AND ECONOMICS
23. Business and trade
24. Global influences on business behaviour
25. Business and Europe
26. Sustainability

• 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 chapters on Business Organization, Supply Chains and Sustainability teach students how to understand and explain the rapidly changing world around them.

• Analytical discussion of highly relevant current events including: the lasting impact of Covid-19; the conflict in Ukraine; the energy crisis; Brexit and business sustainability concerns are woven throughout the new case studies and ‘In the News’ articles.

• This title is supported by a fully updated MindTap - a flexible online learning platform customizable to suit your specific course needs, and which provides students with all the tools they need to succeed. These include an interactive eReader, engaging multimedia, practice questions, assessment materials, revision aids, and analytics to help you track their progress.

• Provides a thorough and well-structured introduction to a wide range of business microeconomic and macroeconomic challenges.

• Lively discussion helps students understand how businesses interact; their wider economic role; and the economic and environmental impact of strategic management decisions.

• A rich array of engaging pedagogical features and assessment questions across all chapters actively encourage critical and rigorously applied thinking.

• Updated and topical case studies and ‘In the News’ articles demonstrate how economic theories apply to real-world business scenarios.

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.

CWS LECTURER & STUDENT BUSINES S ECONOMICS 4E
9781473793071