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Table Of Contents

LEARNING OUTCOMES
1.1.2 The allocation of resources
1.1.3 Economic statements
1.1.4 The role of government
1.1.5 Production decisions
1.1.6 Factors of production
1.1.7 Production possibilities
1.2 Economic growth and welfare
1.2.1 Economic growth
1.2.2 Economic welfare
1.2.3 Record of economic growth
1.2.4 Factors influencing economic growth
1.2.5 Policies to promote economic growth
1.2.6 Sustainable economic growth
1.3 Chapter summary
Readings
Revision Questions
2.1 Consumer behaviour and demand
2.1.1 Individual demand
2.1.2 Market demand
2.1.3 Elasticity of demand
Price elasticity of demand
2.1.4 Conditions of demand
2.2 Supply and market
2.2.1 The supply curve of a firm
2.2.2 The supply curve of an industry
2.2.3 The elasticity of supply
2.2.4 Shifts in supply
2.3 Prices
2.3.1 Definitions and terms
2.3.2 The price mechanism
2.3.3 Prices and resource allocation
2.3.4 Agricultural prices
2.3.5 Interference with market prices
2.4 The business organisation
2.4.1 Profit maximisation
2.4.2 New theories of the firm
2.4.3 Not-for-profit organisations
2.5 The theory of costs
2.5.1 Costs of production
2.5.2 Short-run production – diminishing marginal returns
2.5.3 Long-run production – variable returns to scale
2.5.4 Short-run and long-run production decisions
2.5.5 Economists’ and accountants’ understanding of costs
2.6 Large-scale production
2.6.1 The growth of firms
2.6.2 Economies of scale
2.6.3 Diseconomies of scale
2.7 Small firms
2.7.1 Definition
2.7.2 Growth
2.7.3 Survival
2.7.4 Value
2.8 Market structures
2.8.1 Markets in economies
2.8.2 Forms of market structure
2.8.3 Efficiency
2.9 Price and output determination
2.9.1 Perfect competition
2.9.2 Monopoly
2.9.3 Imperfect competition
2.9.4 Price discrimination
2.9.5 Perfect competition versus monopoly
2.9.6 Contestable markets
2.10 The public sector
2.10.1 Definition
2.10.2 Public corporations/nationalised industries
2.10.3 Privatisation
2.10.4 Public goods and merit goods
2.11 Regulation
2.11.1 Competition policy
2.11.2 The work of the MMC/CC
2.12 Chapter summary
3.1 National income
3.1.1 Measurement
3.1.2 National income calculation
3.1.3 The use of national income statistics
3.1.4 Economic growth
3.2 The circular flow of income
3.2.3 Investment
3.2.4 The accelerator theory
3.2.5 The multiplier
3.3 Inflation and unemployment
3.3.1 Causes of inflation
3.3.2 The effects of inflation
3.3.3 Causes of unemployment
3.3.4 The effects of unemployment
3.3.5 The relationship between inflation and unemployment
3.3.6 Keynesian demand management
3.3.7 Development of the Phillips curve model
3.3.8 NAIRU
3.4 The monetary environment
3.4.1 Inflation measurement
3.4.2 The qualities of money
3.4.3 The functions of money
3.4.4 The supply of money
3.4.5 The demand for money
3.5 The banking system
3.5.1 Financial intermediaries
3.5.2 The Bank of England
3.5.3 The commercial banks
3.5.4 Money markets
3.5.5 Yield curves
3.5.6 The creation of credit
3.5.7 Assets and liabilities
3.5.8 Banking supervision
3.6 Long-term finance
3.6.1 Capital markets
3.6.2 The Stock Exchange
3.6.3 Venture capital
3.6.4 International capital markets
3.7 Interest rates and monetary policy
3.7.1 Market rates
3.7.2 Money and the rate of interest
3.7.3 The effects of interest rate changes
3.7.4 The development of monetary policy
3.7.5 The role of fiscal policy
3.7.6 Control by the Bank of England
3.7.7 The limitations of monetary policy
3.7.8 Monetary policy since 1979
3.8 The fiscal environment
3.8.1 Principles of taxation
3.8.2 Types of taxation
3.8.3 Incidence of taxation
3.8.4 Tax yield
3.8.5 Public spending
3.8.6 Fiscal policy
3.8.7 The nature of the PSNCR
3.8.8 Financing the PSNCR
3.8.9 The national debt
3.8.10 The importance of the PSNCR
3.9 The debate over economic policy
3.9.1 The background
3.9.2 Objectives of economic policy
3.9.3 Policy constraints
3.10 Chapter summary
The Open Economy
4.1 Globalisation
4.1.1 Context
4.1.2 Foreign exchange market transactions
4.1.3 Multinational corporations: definitions
4.1.4 Size of MNCs
4.1.5 Explanation of MNC activity
4.1.6 Impact of MNCs
4.2 Trade
4.2.1 The benefits
4.2.2 The theory
4.2.3 Practical limitations
4.2.4 Trade protection
4.3 Foreign Exchange
4.3.1 Exchange rates
4.3.2 The Foreign Exchange market
4.3.3 Exchange rate systems
4.3.4 Arguments for floating rates
4.3.5 Exchange rate changes
4.4 European monetary integration
4.4.1 Background
4.4.2 Process of integration
4.4.3 Start of the single currency
4.4.4 Assessment of the euro
4.5 The balance of payments
4.5.1 The accounts
4.5.2 Disequilibrium
4.5.3 Policies
4.6 Chapter summary
Revision technique
Planning
Getting down to work
Tips for the final revision phase
Format of the assessment
Mock Assessment 1
Mock Assessment 2
Index
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Economics for Business

Economics for Business

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Published by Aicha Elbourawia

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Published by: Aicha Elbourawia on Nov 07, 2012
Copyright:Attribution Non-commercial

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01/24/2013

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