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Economics for Business, 8th edition

Published by Pearson (March 4, 2019) © 2019

  • John Sloman University of Bristol
  • Dean Garratt Aston Business School
  • Jon Guest Aston Business School
  • Elizabeth Jones University of Warwick

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Engage your students in the methods and techniques for successful decisions in the business environment with this market-leading text.

Economics for Business, 8th edition is an industry-leading text aiming to help your students get a deeper understanding of the concepts and factors that affect decisions in the business environment.

Its clear writing style, combined with a plethora of useful up-to-date features and real-life case studies, make this edition an essential guide that will encourage your students to develop the necessary skills for a career in the field.

Engage your students further with the content via the Revel® edition for this text, the new interactive, fully digital experience.

Hallmark Features of This Title

  • Accessible writing style and short chapters enable coverage in a single lecture, supporting your students' understanding of the subject.
  • A range of engaging, exclusive topics that do not appear in conventional economic books gives an overview of the current business world.
  • Definition panels highlight key technical terms throughout the text, helping your students with exam revision.
  • The summary at the end of each chapter includes numbered points and review questions - ideal for seminars and group discussions.
  • The 'Pause for Thought' panels encourage further reflection and the development of critical thinking skills.
  • A comprehensive glossary and index include all the technical terms and definitions, allowing your students to look them up when necessary.

New and updated features of this title

  • Considerable revisions on many sections reflect contemporary issues, updates and policy interventions.
  • Extensive use of business examples and case studies cover a range of topical issues reflecting the changes in the field, such as the rise of online businesses, the video gaming market, and the effects of Brexit.
  • Updated and revised specialist business sections and chapters, besides the principle ones found in standard economics texts, on topics such as the business environment, advertising and marketing products, multinational corporations, environmental and transport policy, Monetary Union, and the future of the Eurozone.
  • Updated tables and charts, and additional case studies ideal for seminars and group discussion in class.
  • Updated question boxes, enhanced with activity challenges that support your students' development in research skills, data analysis, and discussion of economic principles and ideas.
  • Reinforced coverage of economic topics in accordance with recent developments in the field, such as the impact of money and banking on the economy, policy sections and the effect of Brexit, as well as extended analysis on globalisation and financialisation.
  • Revised economic nalysis and debate in various sections of the book, strengthened according to the developments in economic thinking.

Features of the Revel for Economics for Business, 8th Edition

Revel® Economics for Business is an interactive learning environment where you can now monitor students' progress and use a series of formative and summative assessments and a powerful analytics tool to improve results.

Revel features in this edition:
  • Interactive image galleries illustrate a process or acronym, helping your students engage with the topic, find additional information, and further develop their critical thinking skills.
  • Flashcard key terms appear in the 'Revise' part of each section, with a useful glossary embedded.
  • Multimedia features, including engaging video content from the FT & Boclips, allow you to connect theory with real-world applications in your lectures.
  • Figure animations videos of complex graphs and models simplify information for your students and break down key elements of the subject introduced.
  • Journal questions, multiple choice quizzes, and end-of-chapter tests with instant detailed feedback, personalise the support students get and boosts their confidence as they improve.
  • Application boxes, case studies about real businesses, and an informative Sloman news blog allow your students to access a wealth of knowledge and information for their course.

Brief Contents

About the authors

Preface

Publisher's acknowledgements

PART A BUSINESS AND ECONOMICS

  1. The business environment and business economics
  2. Economics and the world of business
  3. Business organisations

PART B BUSINESS AND MARKETS

  1. The working of competitive markets
  2. Business in a market environment

PART C BACKGROUND TO DEMAND

  1. Demand and the consumer
  2. Behavioural economics of the consumer
  3. Firms and the consumer

PART D BACKGROUND TO SUPPLY

  1. Costs of production
  2. Revenue and profit

PART E SUPPLY: SHORT-RUN DECISION MAKING BY FIRMS

  1. Profit maximisation under perfect competition and monopoly
  2. Profit maximisation under imperfect competition
  3. Alternative theories of the firm

PART F SUPPLY: ALTERNATIVE STRATEGIES

  1. An introduction to business strategy
  2. Growth strategy
  3. The small-firm sector
  4. Pricing strategy

PART G THE FIRM IN THE FACTOR MARKET

  1. Labour markets, wages and industrial relations
  2. Investment and the employment of capital

PART H THE RELATIONSHIP BETWEEN GOVERNMENT AND BUSINESS

  1. Reasons for government intervention in the market
  2. Government and the firm
  3. Government and the market

PART I BUSINESS IN THE INTERNATIONAL ENVIRONMENT

  1. Globalisation and multinational business
  2. International trade
  3. Trading blocs

PART J THE MACROECONOMIC ENVIRONMENT

  1. The macroeconomic environment of business
  2. The balance of payments and exchange rates
  3. The financial system, money and interest rates
  4. Business activity, unemployment and inflation

PART K MACROECONOMIC POLICY

  1. Demand-side policy
  2. Supply-side policy
  3. International economic policy

Web appendix

Key ideas

Glossary

Index

John Sloman was Director of the Economics Network, from its foundation in 1999 until 2012, and is now Visiting Fellow at the University of Bristol, where the Network is based. John is also Visiting Professor at the University of the West of England, Bristol.

Dean Garratt is a Senior Teaching Fellow at Aston Business School and Associate of the Economics Network. Dean is also an Academic Assessor for Government Economics Service and a tutor on HM Treasury's Graduate Development Programme.

Jon Guest is a National Teaching Fellow of the Higher Education Academy and a Senior Teaching Fellow at Aston Business School. Jon is also a Senior Associate of the Economics Network, a Teaching Associate at Warwick Business School, and an Academic Assessor for the Government Economic Service.

Elizabeth Jones is a Professor of Economics and Director of Undergraduate Studies in the Department of Economics at the University of Warwick. Elizabeth is also a lecturer on HM Treasury's Graduate Development Programme and teaches Economics for non-economists courses across various government Departments.

Discover more on our Sloman Economics news site.

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