This second edition adds significant new material on production costs, managerial economics, growth and competitiveness, and includes new case studies with applications to international business.
Contents: Business and Economics; Demand and Supply: The Basics; The Market Mechanism and the Impact of Regulation and Taxation; The Costs of Production; Two Benchmarks for Business Strategy: Perfect Competition versus Monopoly; Alternative Market Structures, Business Strategy, and Public Policy; The Global Economy I: The Debate over Free Trade; Economic Indicators and the Basic Data of the Macroeconomy; The Simple "Keynesian" Model and an Introduction to Fiscal Policy; Money and Inflation; Is There a Trade-Off between Inflation and Economic Growth?; The Global Economy II: The Balance of Payments and Exchange Rates; The Global Economy III: Some Topics in International Finance; Economic Growth and Competitiveness: A Macro-Micro Synthesis.
