Includes bibliographical references and index.

Managers and economics -- Demand, supply, and equilibrium prices -- Demand elasticities -- Techniques for understanding consumer demand and behavior -- Production and cost analysis in the short run -- Production and cost analysis in the long run -- Market structure : perfect competition -- Market structure : monopoly and monopolistic competition -- Market structure : oligopoly -- Pricing strategies for the firm -- Measuring macroeconomic activity -- Spending by individuals, firms, and governments on real goods and services -- The role of money in the macro economy -- The aggregate model of the macro economy -- International and balance of payments issues in the macro economy -- Combining micro and macro analysis for managerial decision making.

After reading this book, business managers should have a good understanding of how changes in different economic variables impact the macroeconomic policy goals of full employment, a stable price level, and sustained economic growth. This book presents economic theory that goes beyond the often complicated principles of economics, and allows readers to understand the role of economics in business decision-making. Combining elements of both micro- and macroeconomics, this book covers: demand, supply, and equilibrium; production and cost analysis; market structures (perfect competition, monopolies, and oligopolies); government spending; and bank reserves. An excellent study of the economics of decision-making for business managers and executives.

TBS905