Understanding the economic environment / Andrew Callander.

Includes bibliographical references and index.

1. The Economic Environment -- Part 1. The nature of economics and methodologies used to analyse economic issues -- 2. Economic Methodology and the Problem of Scarcity -- 3. Production and the Production Possibilities Frontier model -- Part 2. The free market economic system and the supply and demand model -- 4. The Basic Economic Problem and the Mixed Economy -- 5. Economic Incentives and Economic Behaviour -- 6. The Supply and Demand Model and Market Equilibrium -- 7. The Supply and Demand Model and Market Changes -- 8. Elasticity Concepts -- 9. Government interventions and the Supply and Demand Model -- Part 3. The profit maximising behaviour of firms under different market structures -- 10. Economic Profit and the Behaviour of Costs in the Short Run -- 11. The Behaviour of Costs in the Long Run and Different Market Structures -- 12. Revenue, Profit Maximisation, and the Firm's Supply Curve -- 13. Profit maximisation and business decision-making strategy -- Part 4. Market failure and the role of government -- 14. Allocative Efficiency -- 15. Market Failure, Externalities, and Public Goods -- 16. Public goods, common property resources, and income distribution -- 17. Social and economic objectives of government -- Part 5. The macroeconomic environment -- 18. The Circular Flow model, GDP and the Business Cycle -- 19. The Aggregate Demand Aggregate Supply Model -- 20. Applying the Aggregate Demand Aggregate Supply Model -- Part 6. Government policy and the economy -- 21. Key Macroeconomic Markets -- 22. Fiscal Policy -- 23. Monetary Policy -- 24. Monetary Policy and Inflation Targeting -- Part 7. New Zealand and the global economy -- 25. The Gains from Free Trade -- 26. Restrictions on Free Trade -- 27. The Balance of Payments -- 28. The Foreign Exchange Market -- 29. New Zealand and the Global Economy.

"The third edition of Understanding the Economic Environment is written specifically for the 520 Economic Environment prescription in the New Zealand Diploma in Business. The third edition clearly explains and illustrates the essential tools of economic analysis and applies them to a range of contemporary issues. The text provides students with a step-by-step introduction to the key elements of economic theory. It enables an integrated understanding of the New Zealand economy as it functions as part of the global economic system. Students are not only encouraged to understand and apply the economic principles they are learning but also to use their judgement to critically evaluate those principles as they relate to business decision-making and government economic policy."--Publisher's website.

Machine converted from AACR2 source record.