Foundations of Economics

by Gillespie, Andrew

• ISBN13: 9780199296378
• ISBN10: 0199296375
• Format: Paperback
• Copyright: 2007-06-28
• Publisher: Oxford University Press

Summary

Assuming no prior knowledge of economics, this exciting new text focuses on the basic principles of micro and macroeconomics, giving the reader the tools to analyse any economic situation. The book is filled with topical examples that bring the subject to life, helping to show the relevance of economics to real life situations such as why house prices are so high in the UK or the benefits of spending an extra hour on your assignment. This book will give the reader a solid foundation in order to understand the business environment or it can serve as the building blocks for further study in economics and business. the content is broken into short bite sized units and the theory is illustrated throughout with topical examples and short case studies. There are a variety of pedagogical features throughout that allow readers to reflect on their learning and apply their understanding.

Table of Contents

Microeconomics

What is economics?

The Production Possibility Frontier

Demand

The Elasticity of Demand

Supply

Market Equilibrium

The Free Market System: Advantages and Disadvantages

Intervening in the Market System

Costs: Short Run and Long Run

Revenues, Costs and Profit

Perfect Compeition

Monopoly

Oligopoly

Monopolistic Competition and Non Price Competition

Barriers to Entry and Price Discrimination

Integration and Competition Policy

Business Objectives

The Labour Market

Macroeconomics

Introduction to Macroeconomics

Equilibrium in the Economy

National Income and the Standard of Living

Economic Growth and the Economic Cycle

Aggregate Demand and Aggregate Supply and the Price Level

Consumption

Investment

Fiscal Policy

Unemployment

Money

Inflation

Exchange Rates

International Trade

European Union

Developing Economies

Globalisation

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