What is it that business students need to learn from a course in economics? Some will go on to
become professional economists, but the vast majority will seek careers in management of functional specialisms such as marketing, finance or information systems. Yet, to operate successfully in such positions requires a clear focus on efficiency, and an understanding of the working of markets and exchange transactions. Whether the concern is the co-ordination and motivation of subordinates and colleagues or devising a strategic response to competitors’ rivalry, successfully carrying out these activities benefits from a knowledge of economics – specifically, the application of economic thought to the inner workings of organizations and their interaction with rival firms in a business environment.
This book is focused very clearly on providing business students with an economics textbook
whose subject matter is directly relevant to the real world and therefore aiding a better understanding of business behaviour and solving the problems of modern business life. This book seeks to capture the interest of business students by bringing together the twin pillars of business life – strategy and organizational structure – within an economics framework.
2006 McGraw-Hill Education Europe