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Markets for Managers: A Managerial Economics Primer

توضیحات

Praise for Markets for Managers

“It could redefine how politicians and senior executives understand the reality of market processes.”
—Steve Baker MP, Treasury Select Committee

“Pitched at exactly the right level and covers exactly the right material to enable business executives to set themselves apart from the crowd by understanding how markets work.”
—Philip Booth, Editorial and Programme Director, Institute of Economic Affairs

“Full of excellent examples and a pleasure to read.”
—Nicolai J. Foss, Professor of Strategy and Organization, Copenhagen Business School

“An excellent overview of the key debates in economic theory and leaves the reader enlightened, rather than frustrated. Highly recommended.”
—Allister Heath, Deputy Editor, The Telegraph

“Students will appreciate the clear and compelling examples, effective technical exposition, and useful summaries. A very effective text!”
—Peter G. Klein, University of Missouri

“Evans successfully distils some of the wisdom of the wiser economists and debunks some of the more bizarre claims of other parts of the economics profession.”
—Toby Baxendale, Entrepreneur

“An engaging, clear, comprehensive course in economics.”
—Sam Bowman, Research Director, Adam Smith Institute

“I am confident this book will become a favourite read among our current students and alumni.”
—Zoran orevi, Managing Partner, Cotrugli Business School

“An enjoyable explanation of principles that are often misunderstood, denied, or buried in economic jargon.”
—Bruno Prior, Managing Director, Forever Fuels Ltd

“Handy at all times.”
—Krunoslav Koprivnjak, Sales Representative, Oracle


ANTHONY J. EVANS, PHD, is Associate Professor of Economics at ESCP Europe Business School. He has taught for ESCP Europe, Cotrugli Business School, Danube University, and Helsinki School of Economics, as well as designing and managing custom programmes. Anthony participated in the Global Colloquium for Participant-Centred Learning at Harvard Business School and was a Fulbright Scholar-in-Residence at San Jose State University. He is a member of the Institute of Economic Affairs’ Shadow Monetary Policy Committee. He received his MA and PhD in Economics from George Mason University, USA, and a BA (Hons) from the University of Liverpool, UK.

Preface ix

Introduction xi

CHAPTER 1 Incentives Matter 1

11 Managerial Individualism 2

12 Demand Curves 5

13 Elasticity 12

Notes 16

CHAPTER 2 Cost and Choice 19

21 Opportunity Cost 20

22 Diminishing Marginal Returns 22

23 The Planning Horizon 26

24 Cost vs Waste 28

Notes 29

CHAPTER 3 Market Exchange 33

31 Market Equilibrium 33

32 Comparative Statics 36

33 Information Economics 41

Notes 44

CHAPTER 4 Prices and Economic Calculation 47

41 Entrepreneurship 48

42 The Firm 52

43 Price Discrimination 54

44 The Knowledge Problem 58

45 Internal Markets 60

Notes 63

CHAPTER 5 Competition and the Market Process 67

51 Market Concentration 67

52 Collusion 69

53 Market Contestability 72

54 Monopoly Power 77

Notes 78

CHAPTER 6 Capital Theory and Recalculation 81

61 Microclimate 82

62 Unemployment 84

63 Recalculation 90

Notes 93

CHAPTER 7 Public Finance 97

71 Taxation 97

72 Bonds 101

73 Banking 104

74 Saving 107

75 Real Business Cycles 108

76 National Income Accounting 109

Notes 112

CHAPTER 8 Monetary Theory 117

81 Inflation 118

82 Monetary Policy 126

83 Monetary Regimes 133

84 Macroeconomic Fluctuations 135

Notes 137

CHAPTER 9 Fiscal Policy 141

91 The Great Depression 142

92 Fiscal Stimulus 144

93 Expansionary Fiscal Contractions 150

94 Confidence 153

95 Laissez-faire 155

96 The Phillips Curve 156

Notes 158

CHAPTER 10 International Economics 163

101 Globalisation and Trade Theory 164

102 Balance of Payments 168

103 Foreign Exchange Markets 170

104 Currency Regimes 175

Notes 179

CHAPTER 11 Behavioural Economics 183

111 Behavioural Anomalies 184

112 Market Efficiency 188

Notes 194

CHAPTER 12 Global Prosperity 199

121 Growth Theory 199

122 Happiness 202

123 Economic Freedom 206

124 Public Choice Theory 208

125 Transition Economics 215

Notes 223

Bibliography 231

Index 000