Markets for Managers
A Managerial Economics Primer
Published on 11. August 2014
272 pages
978-1-118-86794-5 (ISBN)
Description
An accessible text that provides managers with a well-roundedeconomic awareness
Successful managers possess an understanding of economic andmarket principles as they relate to business itself. Markets forManagers presents managerial economics in a casual, accessibleformat that will help management professionals take economicrealities into account when running their companies or divisions.The book takes a global perspective while covering the full rangeof micro- and macroeconomic principles that managers around theworld need to know. Complete with online resources that includefurther reading and a YouTube playlist, this guide puts businessmanagement practice within its economic context to produce apractical tool for managers.
By understanding market operation and what might cause marketfailure, management professionals can lead companies that respondto market pressures and align operating strategies with economicrealities. Monetary and fiscal policies affect businesses of allsizes, and in Markets for Managers, business leaders canlearn how to read the ever-shifting fiscal landscape.
* Delivers market information tailored to managers and themanagerial decision-making process
* Comprehensively explains macro- and microeconomic ideas inlanguage that's accessible
* Provides concrete suggestions for utilizing market knowledge toimprove internal operations and align incentives
* Helps managers build a global view of business for optimaldecision making
The practical format of Markets for Managers is perfectfor professionals and students who want to gain an appliedperspective on today's most pressing economic issues.
Successful managers possess an understanding of economic andmarket principles as they relate to business itself. Markets forManagers presents managerial economics in a casual, accessibleformat that will help management professionals take economicrealities into account when running their companies or divisions.The book takes a global perspective while covering the full rangeof micro- and macroeconomic principles that managers around theworld need to know. Complete with online resources that includefurther reading and a YouTube playlist, this guide puts businessmanagement practice within its economic context to produce apractical tool for managers.
By understanding market operation and what might cause marketfailure, management professionals can lead companies that respondto market pressures and align operating strategies with economicrealities. Monetary and fiscal policies affect businesses of allsizes, and in Markets for Managers, business leaders canlearn how to read the ever-shifting fiscal landscape.
* Delivers market information tailored to managers and themanagerial decision-making process
* Comprehensively explains macro- and microeconomic ideas inlanguage that's accessible
* Provides concrete suggestions for utilizing market knowledge toimprove internal operations and align incentives
* Helps managers build a global view of business for optimaldecision making
The practical format of Markets for Managers is perfectfor professionals and students who want to gain an appliedperspective on today's most pressing economic issues.
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Book
09/2014
Wiley
€70.00
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08/2014
Wiley
€82.06
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Person
ANTHONY J. EVANS, PHD, is AssociateProfessor of Economics at ESCP Europe Business School. He hastaught for ESCP Europe, Cotrugli Business School, DanubeUniversity, and Helsinki School of Economics, as well as designingand managing custom programmes. Anthony participated in the GlobalColloquium for Participant-Centred Learning at Harvard BusinessSchool and was a Fulbright Scholar-in-Residence at San Jose StateUniversity. He is a member of the Institute of EconomicAffairs' Shadow Monetary Policy Committee. He received his MAand PhD in Economics from George Mason University, USA, and a BA(Hons) from the University of Liverpool, UK.
Content
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
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
