Essential Economics for Business, 7th edition

Published by Pearson (November 2, 2023) © 2024

  • John Sloman University of Bristol
  • Elizabeth Jones University of Warwick
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Title overview

Grasp essential economic concepts applied to the business world.

If you are a student on a business or management degree or diploma and taking a one-semester module or short course which includes economics, then this text is written for you. The text covers the core economics that you will need as a business student, but also various business-related topics not typically covered in an introductory economics textbook, such as the business environment, organisation and strategy.

Written in a clear and friendly style with no jargon, each chapter includes topical examples, news stories and case studies from real businesses to explain and illustrate key economic concepts as well as activities, questions and useful summaries to help you check your understanding.

The new edition has been thoroughly updated to reflect recent events that have shaken the business world, including the Covid-19 pandemic, Brexit and rampant inflation caused first by supply-chain problems after global lockdowns and then by the surge in energy, input and food prices following the Russian invasion of Ukraine.

Table of contents

  • Part A INTRODUCTION
  • Business and the economic environment
  • Part B MARKETS, DEMAND AND SUPPLY
  • The working of competitive markets
  • Demand and the consumer
  • Supply decisions in a perfectly competitive market
  • Part C THE MICROECONOMIC ENVIRONMENT OF BUSINESS
  • Pricing and output decisions in imperfectly competitive markets
  • Business growth and strategy
  • Multinational corporations and business strategy in a global economy
  • Labour and employment
  • Government, the firm and the market
  • Part D THE MACROECONOMIC ENVIRONMENT OF BUSINESS
  • The economy and business activity
  • National macroeconomic policy
  • The global trading environment
  • The global financial environment
  • Websites appendix
  • Key ideas
  • Glossary

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