Foundations of Business Economics: Markets and Prices

by Harry Townsend

Overview

Foundatioins of Business Economics explains microeconomic analysis in terms of real business situations. The underlying theme of the book is the way in which markets link together interdependent activities and how they confront and solve problems of information. The book covers a wide range of issues, including

*The economic way of thinking
*The Business environment
*Product markets
*Market failure
*Factor markets
*General equilibrium

Theory is developed carefully but with a light touch and mathematics kept to a minimum, making the book easily accessible. It will be particularly valuable for those students whose interests lie on the human side of industry. explanation of microeconomic analysis in terms of real business practice. The author examines the way markets link together interdependent economic activities and provides general equilibrium models of the entire economic system.

Product Details

ISBN-13:	9781134809721
Publisher:	Taylor & Francis
Publication date:	01/08/2002
Sold by:	Barnes & Noble
Format:	eBook
Pages:	224
File size:	2 MB

About the Author

Harry Townsend is Emeritus Professor of Economics at Lancaster University. He helped organise the Edwards Seminars in Industrial Administration and has played a key role in establishing business economics as a subject.

Table of Contents

Part I Introduction 1 THE ECONOMIC WAY OF THINKING Part II The business environment 2 FIRMS, MARKETS AND INDUSTRIES 3 AIMS OF BUSINESS Part III Product markets 4 THREE MEANINGS OF COMPETITION 5 PURE COMPETITION, PERFECT COMPETITION AND EFFICIENT MARKETS 6 MONOPOLY AND ECONOMIC WELFARE 7 OLIGOPOLY: INTERDEPENDENT DECISIONS 8 MARKET PROBLEMS: INFORMATION, EXTERNALITIES AND PROPERTY RIGHTS 9 MARGINAL PRODUCTIVITY AND FACTOR DEMAND 10 SUPPLY, SUPPLY AND DEMAND, AND RESTRICTED COMPETITION 11 MARKET COMPLICATIONS: INFORMATION, CO-OPERATION AND CONFLICT Part V Conclusion 12 APPROACHES TO GENERAL EQUILIBRIUM