ESCP Europe

“First published as Markets for Managers, this book has proved to be a popular way for non-economists to understand and apply the key tools of economics. Professor Anthony J. Evans, one of Europe’s leading Managerial Economics instructors, brings the content that works in his classrooms to an even wider audience. Written in an engaging and informal way, whether you are a busy executive or simply an interested amateur this is your go-to guide. In this revised and updated edition, you will be led through the building blocks of economic theory and how they relate to the real world. You will see how thinking like an economist can improve your decision making, and how markets can be used to generate value within organizations and in society at large. The book incorporates the main principles of both micro and macroeconomics and takes a broad and diverse approach. In it you will encounter the most interesting economists and understand their contributions in a historical context. The practical format is perfect for professionals and students who want to gain an applied perspective on today’s most pressing economic issues." - from publisher

Introduction --- 1. Incentives Matter --- 1.1 Managerial individualism --- 1.2 Demand curves --- 1.3 Elasticity --- 2. Cost and Choice --- 2.1 Opportunity cost --- 2.2 Diminishing marginal returns --- 2.3 Economies of scale --- 2.4 Cost vs. waste --- 3. Market Exchange --- 3.1 Market equilibrium --- 3.2 Comparative statics --- 3.3 Auctions --- 3.4 Information economics --- 4. Prices and Economic Calculation --- 4.1 Entrepreneurship --- 4.2 The firm --- 4.3 Price discrimination --- 4.4 The knowledge problem --- 4.5 Internal markets --- 5. Competition and the Market Process --- 5.1 Market concentration --- 5.2 Collusion --- 5.3 Platforms --- 5.4 Market contestability --- 5.5 Monopoly power --- 6. Capital Theory and Recalculation --- 6.1 Microclimate --- 6.2 Unemployment --- 6.3 Recalculation --- 6.4 Business plan ecology --- 7. Public Finance --- 7.1 Taxation --- 7.2 Bonds --- 7.3 Banking --- 7.4 Saving --- 7.5 National income accounting --- 7.6 Real business cycles --- 8. Monetary Theory --- 8.1 Inflation --- 8.2 Monetary policy --- 8.3 Monetary regimes --- 8.4 Macroeconomic fluctuations --- 9. Fiscal Policy --- 9.1 The Great Depression --- 9.2 Fiscal stimulus --- 9.3 Austerity --- 9.4 Laissez-faire --- 9.5 The Phillips curve --- 10. International Economics --- 10.1 Globalization and trade theory --- 10.2 Balance of payments --- 10.3 Foreign exchange markets --- 10.4 Currency regimes --- 11. Behavioural Economics --- 11.1 Behavioural anomalies --- 11.2 Market efficiency --- 12. Global Prosperity --- 12.1 Growth theory --- 12.2 Happiness --- 12.3 Economic freedom --- 12.4 Public Choice theory --- 12.5 Transition economics --- References --- Index.