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Overview
Within the highly successful Mankiw Economics franchise, this new fourth edition of Business Economics delivers a comprehensive overview and practical application of the principles of economics to business.
All the Mankiw titles are known for their friendly and accessible approach which is retained in this new edition’s unique business perspective, enabling economic theory to be applied to real world scenarios. Such an active learning approach ensures academic skills can be easily absorbed and transferred to the workplace.
This edition includes new chapters on business organization, supply chains and sustainability, together with a wealth of new and updated case studies and ‘In the News’ features throughout.
This title is supported by MindTap, a flexible online learning platform that provides students with all the tools they need to succeed including an interactive eReader, engaging multimedia, practice questions, assessment materials, revision aids, and analytics to help you track their progress.
- New chapters on Business Organization, Supply Chains and Sustainability teach students how to understand and explain the rapidly changing world around them.
- Analytical discussion of highly relevant current events including: the lasting impact of Covid-19; the conflict in Ukraine; the energy crisis; Brexit and business sustainability concerns are woven throughout the new case studies and ‘In the News’ articles.
- This title is supported by a fully updated MindTap - a flexible online learning platform customizable to suit your specific course needs, and which provides students with all the tools they need to succeed. These include an interactive eReader, engaging multimedia, practice questions, assessment materials, revision aids, and analytics to help you track their progress.
- Provides a thorough and well-structured introduction to a wide range of business microeconomic and macroeconomic challenges.
- Lively discussion helps students understand how businesses interact; their wider economic role; and the economic and environmental impact of strategic management decisions.
- A rich array of engaging pedagogical features and assessment questions across all chapters actively encourage critical and rigorously applied thinking.
- Updated and topical case studies and ‘In the News’ articles demonstrate how economic theories apply to real-world business scenarios.
1. What is business economics?
2. Economics and business decision making
3. The business environment
PART II. MICROECONOMICS: THE MARKET SYSTEM
4. Supply and demand: How markets work
5. Elasticity and its applications
6. Taxes and subsidies
PART III. MICROECONOMICS: THE LIMITATIONS OF MARKETS
7. Market failure
8. The consumer and consumer behaviour
PART IV. MICROECONOMICS: THE ECONOMICS OF FIRMS IN MARKETS
9. Costs and revenues in production
10. Business goals and behaviour
11. Business organization
12. Market structures: Perfect competition
13. Market structures: Monopoly
14. Market structures: Imperfect or monopolistic competition
15. Market structures: Oligopoly
16. Corporate strategy and pricing policy
17. Supply chains
PART V. MICROECONOMICS: FACTOR MARKETS
18. Labour markets
19. Financial markets
PART VI. INTRODUCTION TO MACROECONOMICS
20. The macroeconomic environment
21. Aggregate demand and aggregate supply as a model to describe the economy
22. Government economic policy and the effect on business: Fiscal, monetary and supply side policy
PART VII. GLOBAL BUSINESS AND ECONOMICS
23. Business and trade
24. Global influences on business behaviour
25. Business and Europe
26. Sustainability