K. Alec Chrystal, a specialist in monetary and macroeconomics, is currently Professor of Monetary Economics at City University Business School, London, England, and has substantial experience of teaching economics to management students.Richard G. Lipsey, known world-wide as the author of outstanding textbooks, is attached to the Canadian Institute of Advanced Research at Simon Fraser University, Vancouver, Canada.

• PART 1: FIRMS AND MARKETS ; 1. INTRODUCTION TO ECONOMICS AND BUSINESS ; SECTION 1. MARKETS AND PRICES ; 2. DEMAND, SUPPLY AND PRICE ; 3. ELASTICITY OF DEMAND AND SUPPLY ; SECTION 2. OPTIMIZATION OF THE FIRM ; 4. THE FIRM, PRODUCTION AND PROFIT ; 5. COSTS AND OUTPUT ; 6. PROFIT MAXIMIZATION ; SECTION 3. FIRMS AND COMPETITION ; 7. FIRMS IN IMPERFECT MARKETS I: MONOPOLY AND MONOPOLISTIC COMPETITION ; 8. FIRMS IN IMPERFECT MARKETS II: OLIGOPOLY AND BUSINESS STRATEGY ; 9. GOVERNMENT AND THE MARKET ; SECTION 4. ECONOMICS OF BUSINESS ; 10. THE ECONOMICS OF EMPLOYMENT ; 11. THE ECONOMICS OF INVESTMENT ; 12. THE ECONOMICS OF BUSINESS ORGANIZATIONS ; PART II THE ECONOMY AS A WHOLE ; SECTION 5. NATIONAL PRODUCT AND NATIONAL INCOME ; 13. MACROECONOMIC ISSUES AND MEASUREMENT ; 14. A BASIC MODEL OF THE DETERMINATION OF GDP ; 15. GDP IN AN OPEN ECONOMY WITH GOVERNMENT ; 16. AGGREGATE DEMAND AND AGGREGATE SUPPLY ; SECTION 6 MACROECONOMIC POLICY ; 17. GDP, THE PRICE LEVEL AND FISCAL POLICY ; 18. MONEY AND MONETARY POLICY ; 19. THE BALANCE OF PAYMENTS AND EXCHANGE RATES ; 20. GOVERNMENT POLICY AND THE BUSINESS CYCLE

This text is exceptionally well written and covers an impressive range of topics. The authors have included excellent, topical..examples in the text which will help business students in particular to appreciate the importance of economics in any management course.