Principles of Business Economics

This book is an ideal foundation for students at both undergraduate and postgraduate levels studying economics e.g. MBA, DMS, BAAB's etc. Also a useful resource for managers. Based on the successful book The Essence of Business Economics by the same authors, this new text provides a forum for detailed discussion of the core principles of microeconomics and shows how these concepts are implemented in business decisions. User-friendly, jargon-free and comprehensive in its approach, it takes an in-depth look at the principles of business decision making, demonstrating how managers can apply economics in the workplace."MBA students value practical application and the applications in the book are interesting and well chosen... The authors have worked hard to make a difficult subject accessible." - David Leece, Professor and Head of the Department of Business and Management Studies, Manchester Metropolitan University, MMU Cheshire, UK. "I find that this book is at exactly the right level for MBA students... The writing style is very student-friendly; the authors avoid being too technical and present the essential points very clearly." - Eleanor Morgan, Senior Lecturer, School of Management, University of Bath, UK. The second edition of this highly successful "Principles of Business Economics" gives undergraduates, MBA students or aspiring managers a clear, concise and accessible text that covers all aspects of an introductory course in microeconomics. This new edition continues to provide a detailed discussion of the core principles of microeconomics in a user-friendly and jargon-free manner, showing how the concepts can be applied in the workplace. Updated and revised throughout with additional international case study applications and new material on the government's role and intervention in economics, this edition also includes a guide for instructors on how best to use the contents for their individual courses. There are - aims and learning outcomes at the start of each chapter with boxed key points throughout; conclusions, key learning points and topics for discussion to stimulate thinking, consolidate learning and put theory into practice; and a wealth of international applications with activity questions illustrating how the theory is applied in real-world situations. It has a clear and accessible text with technical jargon and mathematics kept to the minimum. It covers the main themes of consumer theory, production theory, price determination, market analysis, managerial objectives and competitive strategy, the market for inputs, and special topics (including government and business). There is a comprehensive and detailed glossary for easy reference. A downloadable web supplement is available for lecturers and students. This includes guidance notes for students on answering the topics for discussion included at the end of each chapter and Power Points for use by lecturers. Joseph G. Nellis is Professor of International Management Economics at Cranfield School of Management, Cranfield University. David Parker is Research Professor in Privatisation and Regulation at Cranfield School of Management, Cranfield University.