Business and Microeconomics: An Introduction to the Market Environment (Elements of Business)

Business and Microeconomics is a concise introduction to microeconomics, specifically designed to provide students and practitioners of business with an understanding of the workings of the market system. Thus, the focus of attention is 'the market' itself, rather than the individual company, although it is recognised that the 'strategic' firm can and does play an important part in the operation of markets. Markets are not static, but driven and shaped by the dynamics of inter-firm rivalries.
The main purpose of this book is to examine key aspects of market demand and supply, market structure, conduct and performance both in terms of relevance to the achievement of corporate success and the efficient use of economic resources to the benefit of society at large. A main emphasis throughout the book is to show how an understanding of microeconomics is relevant to modern decision-makers. In this way, importance is placed on application, using illustrative 'boxes' of microeconomic concepts in 'real world' business situations.
Written in a clear, accessible way by two experienced teachers of economics and business studies, this book is an important addition to the Elements of Business series. Including questions at the end of each chapter and text examples throughout, this text will be ideal for both MBA and DMS students, as well as undergraduate management and business studies students.