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Business Economics brings together three authors with extensive experience in teaching both business and economics students. The text provides a clear and easy-to-read guide to the practical uses of economics in a business environment. Recent examples and cases throughout the text demonstrate the key economic issues facing the business world.

Now covering the global economy, Brexit, the gig economy and international trade theories, the third edition ensures that students are up to date with the latest developments in business economics.

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Part I: The Economic and Business Environment
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. Governments and Markets
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. Firm Behaviour and the Organization of Industry
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
Part V: Microeconomics - Factor Markets
17. Factor Markets
18. Financial Markets
Part VI: Introduction to Macroeconomics
19. The Macroeconomic Environment
20. Aggregate Demand and Aggregate Supply as a Model to describe the Economy
21. Government Economic Policy and the Effect on Business: Fiscal, Monetary and Supply-Side Policy
Part VII: Global Business and Economics
22. The Global Economy
23. Issues in Global Business and Economics

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Mankiw, N.
N. Gregory Mankiw is Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and MIT. As a teacher, he has taught macroeconomics, microeconomics, statistics, and principles of economics. He even spent one summer long ago as a sailing instructor on Long Beach Island. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His work has been published in scholarly journals such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more popular forums such as The New York Times, The Financial Times, The Wall Street Journal, and Fortune. He is also author of the best-selling intermediate-level textbook Macroeconomics (Worth Publishing). In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the Educational Testing Service (ETS) test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as Chairman of the President´s Council of Economic Advisers.

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