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Provides students and researchers with easy-to-understand entries on hundreds of important terms, principles and concepts allow readers to develop a deeper understanding of the field. The study of economics involves understanding and predicting the behavior of economies, markets, and economic variables. With engaging, comprehensive entries written by experts in the field, Principles of Business: Economics is an invaluable resource for those seeking an introduction to economics with a focus on its relevance to business. This volume includes 100 accessible entries that provide readers with a solid understanding of the topic, including: The US Financial Crisis of 2007-2010 Managerial Economics Business Cycle Economic Growth Principles of Macroeconomics Evolution of Economic Thought Globalization of emerging Markets Economics of Business Regulations Market Failure Money, Banking and the Economy Principles of Business: Economics covers essential topics that will be of interest to anyone who wants to know more about what is involved in running a business, keeping accounts, or for those who are considering starting a business of their own.
Economic principles inform good business decision making. Although economics is sometimes dismissed as a discourse of practical relevance to only a relatively small circle of academicians and policy analysts who call themselves economists, sound economic reasoning benefits any manager of a business, whether they are involved with production/operations, marketing, finance, or corporate strategy. Along with enhancing decision making, the field of economics provides a common language and framework for comprehending and communicating phenomena that occur within a business, as well as between a business and its environment. This text addresses the core of a subject commonly called managerial economics, which is the application of microeconomics to business decisions. Key relationships between price, quantity, cost, revenue, and profit for an individual firm are presented in form of simple conceptual models. The text includes key elements from the economics of consumer demand and the economics of production. The book discusses economic motivations for expanding a business and contributions from economics for improved organization of large firms. Market price quantity equilibrium, competitive behavior, and the role of market structure on market equilibrium and competition are addressed. Finally, the text considers market regulation in terms of the generic problems that create the need for regulation and possible remedies for those problems. Although the academic literature of managerial economics often employs abstract mathematics and large corporations create and use sophisticated mathematical models that apply economics, this book focuses on concepts, terminology, and principles, with minimal use of mathematics. The reader will gain a better understanding of why businesses and markets function as they do and how those institutions can function better.
This text provides a comprehensive coverage of the core principles of business and management economics. It considers strategic implications of economic theories and principles on business decisions and organisations.
Created specifically for the economics course as taught in business schools, Economic Principles: A Business Perspective covers the fundamentals of economics in the context of today’s globalized business world, with strong examples, integrated technology, and practical pedagogy. Integrated business and policy briefs, in-depth case studies, chapter-ending business applications, thoroughly explained graphs and a battery of simple but useful learning tools support the intersection of theory and practice. It’s accompanied by a robust media component, SaplingPlus, which combines Sapling’s acclaimed online homework with a complete e-book and all interactive features for the text.
John Kay has been described as the `most important business analyst in Britain bar none', and this book shows why. Here he combines common sense and rigorous economic thinking in a number of essays on business and economic issues—-the competitiveness of UK plc, the stakeholder economy, business strategy, and corporate personality. Kay is well known for his incisive and entertaining columns in the Financial Times (some of which are included here), his regular audio and TV broadcasts, and is much in demand as a speaker and consultant. In The Business of Economics he shares his analysis, thoughts and insights on a range of urgent and important issues facing the country and individual firms. His clear and direct writing style will inform, challenge, and entertain; his rigorous and clever analysis of the corporate world will offer insights into the business problems and decisions faced by executives and managers every day. The book confirms the judgement of the Economist - `that John Kay is well on the way to turning himself into a European Michael Porter.'
This book has been designed comprehensively to cover the whole syllabus and important topics of the subject. This book has been developed with an emphasis on quality and contemporary content. KEY FEATURES • Content has been developed according to the syllabus requirements • The units are written in simple language • Numerous illustrations, examples and case studies for better understanding of concepts • Chapter end questions for practice
This second edition provides a rigorous yet accessible graduate-level introduction to financial economics. Since students often find the link between financial economics and equilibrium theory hard to grasp, less attention is given to purely financial topics, such as valuation of derivatives, and more emphasis is placed on making the connection with equilibrium theory explicit and clear. This book also provides a detailed study of two-date models because almost all of the key ideas in financial economics can be developed in the two-date setting. Substantial discussions and examples are included to make the ideas readily understandable. Several chapters in this new edition have been reordered and revised to deal with portfolio restrictions sequentially and more clearly, and an extended discussion on portfolio choice and optimal allocation of risk is available. The most important additions are new chapters on infinite-time security markets, exploring, among other topics, the possibility of price bubbles.
#1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.
Reflecting the highly globalized nature of tastes, production, labor markets, and financial markets in today's world, Managerial Economics in a Global Economy, Seventh Edition, is ideal for undergraduate and MBA courses in managerial economics. Thoroughly adopting a global perspective, it synthesizes economic theory, decision science, and business administration studies, examining how they interact as a firm strives to reach optimal profitability and efficiency in the face of modern constraints. FEATURES: * Integrates examples, data, and theories on the international ramifications of managerial decisions into the entire text, rather than segregating the material in a separate chapter * Demonstrates how firms actually reach managerial decisions with 122 real-world case studies and 11 more extensive integrating studies, along with additional case studies and applications on the Companion Website * Prominently features those tools of decision making, such as spreadsheet applications, that are so in demand by students * Introduces many new and exciting topics, including firm architecture, firm governance, and business ethics; Porter's strategic framework and the evolution of the creative firm; electronic commerce and risk management; and more * Offers instructors maximum flexibility with a modular structure that is suitable for both full-term and briefer courses, and can be used with or without calculus NEW TO THIS EDITION: * Extensive revisions to every chapter that consider the consequences and lessons of the 2008 global financial crisis * A new Chapter 2: Demand, Supply, and Equilibrium Analysis, to refresh students on relevant principles of economic analysis * Expanded coverage of spreadsheets and Microsoft Excel, including new appendices and spreadsheet-based problems in every chapter * Nearly 80 new or completely updated case studies and 5 new integrating case studies * An updated and expanded Companion Website at www.oup.com/us/salvatore featuring student resources: an online study guide, an extra chapter on linear programming, and additional case studies * An extensive instructor ancillary package, including online resources, making this text the perfect choice for lecture-based, online, or hybrid managerial economics courses