Markets for Managers. A Managerial Economics Primer. The Wiley Finance Series

  • ID: 2935939
  • Book
  • 272 Pages
  • John Wiley and Sons Ltd
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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 or evi , 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

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Preface ix

Introduction xi

CHAPTER 1 Incentives Matter 1

1.1 Managerial Individualism 2

1.2 Demand Curves 5

1.3 Elasticity 12

Notes 16

CHAPTER 2 Cost and Choice 19

2.1 Opportunity Cost 20

2.2 Diminishing Marginal Returns 22

2.3 The Planning Horizon 26

2.4 Cost vs. Waste 28

Notes 29

CHAPTER 3 Market Exchange 33

3.1 Market Equilibrium 33

3.2 Comparative Statics 36

3.3 Information Economics 41

Notes 44

CHAPTER 4 Prices and Economic Calculation 47

4.1 Entrepreneurship 48

4.2 The Firm 52

4.3 Price Discrimination 54

4.4 The Knowledge Problem 58

4.5 Internal Markets 60

Notes 63

CHAPTER 5 Competition and the Market Process 67

5.1 Market Concentration 67

5.2 Collusion 69

5.3 Market Contestability 72

5.4 Monopoly Power 77

Notes 78

CHAPTER 6 Capital Theory and Recalculation 81

6.1 Microclimate 82

6.2 Unemployment 84

6.3 Recalculation 90

Notes 93

CHAPTER 7 Public Finance 97

7.1 Taxation 97

7.2 Bonds 101

7.3 Banking 104

7.4 Saving 107

7.5 Real Business Cycles 108

7.6 National Income Accounting 109

Notes 112

CHAPTER 8 Monetary Theory 117

8.1 Inflation 118

8.2 Monetary Policy 126

8.3 Monetary Regimes 133

8.4 Macroeconomic Fluctuations 135

Notes 137

CHAPTER 9 Fiscal Policy 141

9.1 The Great Depression 142

9.2 Fiscal Stimulus 144

9.3 Expansionary Fiscal Contractions 150

9.4 Confidence 153

9.5 Laissez–faire 155

9.6 The Phillips Curve 156

Notes 158

CHAPTER 10 International Economics 163

10.1 Globalisation and Trade Theory 164

10.2 Balance of Payments 168

10.3 Foreign Exchange Markets 170

10.4 Currency Regimes 175

Notes 179

CHAPTER 11 Behavioural Economics 183

11.1 Behavioural Anomalies 184

11.2 Market Efficiency 188

Notes 194

CHAPTER 12 Global Prosperity 199

12.1 Growth Theory 199

12.2 Happiness 202

12.3 Economic Freedom 206

12.4 Public Choice Theory 208

12.5 Transition Economics 215

Notes 223

Bibliography 231

Index 000

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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.

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