Economics for business.
- 5th ed. / John Sloman, Kevin Hinde, Dean Garratt.
- xxxiii, 742, [61] p. : ill. ; 27 cm.
Previous ed.: 2007. Previous ed.: / John Sloman, Mark Sutcliffe. 2004.
Includes bibliographical references and index.
Business and economics -- The business environment and business economics -- The business environment -- The structure of industry -- The determinants of business performance -- Economics and the world of business -- What do economists study? -- Business economics: the macroeconomic environment -- Business economics: microeconomic choices -- Business organisations -- The nature of firms -- The firm as a legal entity -- The internal organisation of the firm -- Business and markets -- The working of competitive markets -- Business in a competitive market -- Demand -- Supply -- Price and output determination -- Business in a market environment -- Price elasticity of demand -- The importance of price elasticity of demand to business -- Other elasticities -- The time dimension of market adjustment -- Dealing with uncertainty -- Background to demand -- Demand and the consumer -- Marginal utility theory -- Demand under conditions of risk and uncertainty -- The characteristics approach to analysing consumer demand -- Demand and the firm -- Estimating demand functions -- Forecasting demand -- Products, marketing and advertising -- Product differentiation -- Marketing the product -- Advertising -- Background to supply -- Costs of production -- The meaning of costs -- Production in the short run -- Costs in the short run -- Production in the long run -- Costs in the long run -- Revenue and profit -- Revenue -- Profit maximisation -- Supply: short-run profit maximisation -- Profit maximisation under perfect competition and monopoly -- Alternative market structures -- Perfect competition -- Monopoly -- Potential competition or potential monopoly? The theory of contestable markets -- Profit maximisation under imperfect competition -- Monopolistic competition -- Oligopoly -- Game theory -- Supply: alternative strategies -- An introduction to business strategy -- What is strategy? -- Strategic analysis -- Strategic choice -- Business strategy in a global economy -- Strategy: evaluation and implementation -- Alternative theories of the firm -- Problems with traditional theory -- Alternative maximising theories -- Multiple aims -- Growth strategy -- Growth and profitability -- Constraints on growth -- Alternative growth strategies -- Internal growth -- External growth through merger -- External growth through strategic alliance -- Explaining external firm growth: a transactions costs approach -- The small-firm sector -- Defining the small-firm sector -- The survival, growth and failure of small businesses -- Government assistance and the small firm -- Pricing strategy -- Pricing and market structure -- Alternative pricing strategies -- Price discrimination -- Multiple product pricing -- Transfer pricing -- Pricing and the product life cycle -- The firm in the factor market -- Labour markets, wages and industrial relations -- The UK labour market -- Market-determined wage rates and employment -- Firms with power in the labour market -- The role of trade unions -- The efficiency wage hypothesis -- Low pay and discrimination -- The flexible firm and the market for labour -- Investment and the employment of capital -- The pricing of capital and capital services -- The demand for and supply of capital services -- Investment appraisal -- Financing investment -- The stock market -- The relationship between government and business -- Reasons for government intervention in the market -- Markets and the role of government -- Types of market failure -- Government intervention in the market -- The case for less government intervention -- Firms and social responsibility -- Government and the firm -- Competition policy -- Policies towards research and development (R&D) -- Policies towards training -- Government and the market -- Environmental policy -- Transport policy -- Privatisation and regulation -- Business in the international environment -- Globalisation and multinational business -- Globalisation: setting the scene -- What is a multinational corporation? -- Trends in multinational investment -- Why do businesses go multinational? -- The advantages of MNC investment for the host state -- The disadvantages of MNC investment for the host state -- Multinational corporations and developing economies -- International trade -- Trading patterns -- The advantages of trade -- Arguments for restricting trade -- The world trading system and the WTO -- Trading blocs -- Preferential trading -- Preferential trading in practice -- The macroeconomic environment -- The macroeconomic environment of business -- Macroeconomic objectives -- Economic growth -- Unemployment -- Inflation -- The business cycle and macroeconomic objectives -- The circular flow of income -- The balance of payments and exchange rates -- The balance of payments account -- The exchange rate -- Exchange rates and the balance of payments -- Fixed versus floating exchange rates -- Banking, money and interest rates -- The meaning and functions of money -- The financial system -- The supply of money -- The demand for money -- Equilibrium -- Business activity, employment and inflation -- The determination of business activity -- The relationship between money and GDP -- Unemployment and inflation -- Inflation targeting and unemployment -- Business cycles -- Macroeconomic policy -- Demand-side policy -- Fiscal policy -- Monetary policy -- Attitudes towards demand management -- Supply-side policy -- Supply-side problems -- Market-orientated supply-side policies -- Interventionist supply-side policies -- Regional policy -- International economic policy -- Global interdependence -- International harmonisation of economic policies -- European economic and monetary union -- Alternative policies for achieving currency stability. Part A. 1. 1.1. 1.2. 1.3. 2. 2.1. 2.2. 2.3. 3. 3.1. 3.2. 3.3. Part B. 4. 4.1. 4.2. 4.3. 4.4. 5. 5.1. 5.2. 5.3. 5.4. 5.5. Part C. 6. 6.1. 6.2. 6.3. 7. 7.1. 7.2. 8. 8.1. 8.2. 8.3. Part D. 9. 9.1. 9.2. 9.3. 9.4. 9.5. 10. 10.1. 10.2. Part E. 11. 11.1. 11.2. 11.3. 11.4. 12. 12.1. 12.2. 12.3. Part F. 13. 13.1. 13.2. 13.3. 13.4. 13.5. 14. 14.1. 14.2. 14.3. 15. 15.1. 15.2. 15.3. 15.4. 15.5. 15.6. 15.7. 16. 16.1. 16.2. 16.3. 17. 17.1. 17.2. 17.3. 17.4. 17.5. 17.6. Part G. 18. 18.1. 18.2. 18.3. 18.4. 18.5. 18.6. 18.7. 19. 19.1. 19.2. 19.3. 19.4. 19.5. Part H. 20. 20.1. 20.2. 20.3. 20.4. 20.5. 21. 21.1. 21.2. 21.3. 22. 22.1. 22.2. 22.3. Part I. 23. 23.1. 23.2. 23.3. 23.4. 23.5. 23.6. 23.7. 24. 24.1. 24.2. 24.3. 24.4. 25. 25.1. 25.2. Part J. 26. 26.1. 26.2. 26.3. 26.4. 26.5. 26.6. 27. 27.1. 27.2. 27.3. 27.4. 28. 28.1. 28.2. 28.3. 28.4. 28.5. 29. 29.1. 29.2. 29.3. 29.4. 29.5. Part K. 30. 30.1. 30.2. 30.3. 31. 31.1. 31.2. 31.3. 31.4. 32. 32.1. 32.2. 32.3. 32.4.