Product Description

Economics for Business, second edition is an essential introduction to economics, tailor-made for business students. The text demonstrates the relevance of applying economic principles to solve business problems, using a unique approach that starts with the business problem before employing economics as the solution. Key economic theories are therefore clearly explained within the context of modern business, drawing on a wealth of contemporary examples to bring the topics to life. The supporting features and exercises allow students to consolidate their learning and equip them with the economic tools to confront real business situations.

Product Details

• Amazon Sales Rank: #26422 in Books
• Published on: 2006-11-01
• Original language: English
• Binding: Paperback
• 432 pages

About the Author
David Begg is Principal of the Tanaka Business School at Imperial College London. He has been a Research Fellow of the Centre for Economic Policy Research since its inception in 1984, and an adviser to the Bank of England, the treasury and the IMF.

Damian Ward is Senior Lecturer in Economics at Bradford University School of Management. He has experience of teaching undergraduate and MBA students, including senior managers from the BBC and Emirates Airlines. His research interests focus on the application of economic theory to the workings of the financial services industry.

Customer Reviews

Comprehensive introduction to practical business economics
I had no formal training in economics when I was sent this book at the start of a course on business economics, and it has proven an excellent companion to the course notes. This is very much a practical exposition as to how mainstream economic theory may aid business people - it does not explore the history of economic thought, nor does it explain the distinctive thoughts of or even refer to any of the great economists - not Smith, Ricardo, Keynes nor Friedman.

The book's 14 chapters include subjects as diverse as the production possibility frontier, price and demand elasticity, market operation, competition, monopoly and strategic rivalry before going on to consider macroeconomics and the global economy.

There are all the diagrams beloved of economics lecturers, excellent examples, all of which are reasonably contemporaneous, this edition of the book having been published in 2006. At the end of each chapter there are summaries, checklists, questions and exercises, and the whole thing is backed up by an "online learning centre" with additional materials. It is written with a sense of humour - you get a sense that Messrs Begg and Ward's lectures must be quite entertaining. The section on credit creation, for example, is based around a scenario of over-expensive nights out clubbing, and student overdrafts in the morning being funded from the club owner's takings from the night before.

This is an interesting book that will equip readers with a practical economic understanding and vocabulary. For me, a chapter on the development of economic thought, of Keynsianism, monetarism, Austrian libertarianism and perhaps even Marxism would have rounded it off. The authors may well have considered those subjects to be beyond the requirements of business practitioners, but it would have helped readers to understand the world in late 2008 where we are being told that "we are all Keynsians now", and given a national debt to match!

microeconomics
Hey,

while studying economics i find ths book interesting as it uses humour but feel it doesn't combine more of the thoughts you need in favour of better understanding under such a short time.

Easy Economics Reading
An easy to read, concise guide to essential economics for business and MBA students. Explains such gems as why there are lots of kebab and pizza shops around universities.

Only complaint I could possibly have is that it glosses over some topics, but it's hard to combine conciseness with thoroughness.

Recommended.