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Dermot McAleese's ECONOMICS FOR BUSINESS

Proposal for Second Edition
1. Assessment of the First Edition
The book is reader-friendly, stands up to critical scrutiny in terms of quality of text, is nicely
presented and is the right length and bulk. It fills a genuine gap by providing a textbook for
MBAs, post-experience executives and business students who want a compact, self-contained
introduction to economics, with a strong business and practical orientation.
Commenting on the section on further reading at the end of each chapter, one reviewer
remarked:
the great thing about this book is that, for the general reader, more reading would
hardly be required. (Irish Independent 11 August 1997)
Students and lecturers who have used the book seem to be satisfied. Nevertheless, some
aspects of the book need to be improved (see below).
I understand from Prentice Hall that the book is selling well. However, in planning a second
edition, consideration should be given to changes that would make it attractive in the
American market. (Colleagues tell me that the book is unavailable in the US and even PH
reps are unaware of its existence.)
2. Why is a Second Edition needed?
There are three main justifications for a second edition.
To update the statistics and text.
To correct errors in the first edition.
To improve the text and presentation.
The market for Economics for Business is likely to grow as the number of post-experience
business courses continues to expand. Moreover, the book is particularly suitable for use as a
textbook for a one-semester (30 teaching hour) introductory economics course. Such onesemester courses are likely to become increasingly common. Because it covers the entire
range of economic issues, not just those issues covered in standard "business economics"
texts, Economics for Business is tailor-made for this part of the market. Publication of a
second edition would play a vital part in maintaining the profile of the book and enhancing its
reputation.
3. What improvements are being proposed?

A bullet-point summary of key concepts and words to be inserted at the beginning

of each chapter

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Revision and updating of all tables, statistics and accompanying text. Some tables
may be reduced in size e.g. Tables 5.2 and 5.3.

Brief commentary/explanation to be included underneath each figure

Correction of textual and figure errors (few in number but important)

Addition of glossary of terms

Addition of a separate author and subject index

More detailed biographical note on DMcA and endorsements of the book by key
users (as per circular letter from Bridget Hall of April 1998) to be added to
backcover of book.

Frontcover - title of book and author to be right-oriented. Cover is excellent but

need to differentiate 2nd edition.

Review of boxes about 10 authors to be commissioned to contribute boxes in

their areas of expertise. Invited box writers would be academics who are likely to
adopt the book and who have a proven track record of publication. The objective
of this would be to add variety to the text.

Revision of Questions for Discussion and Exercises. The problem sets have
been well received, but certain ambiguities need to be removed. Also there is
need for closer concordance between questions and material covered in the text.

Instructors' Manual
Will need minor revision.
Website
Consideration should be given to producing a website for the book, which would contain
inter alia updates of statistics.
Date of Completion
The second edition should ideally be ready to go on the market for academic year 1999-2000.
It would be possible for me to have the revised MSS ready by April 1999, provided I was
able to obtain suitable research assistance.
Dermot McAleese
20 July 1998
Appendix: Detailed Outline of Revisions to Chapters 1 to 4:

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The details below give some indication of the type of revisions that I consider necessary for
chs 1 to 4. A complete plan for each chapter is in course of preparation.
Chapter 1
Include box on new economic consensus
Further reading to include reference to recent critiques of the new consensus policies by
David Landes, Daniel Cohen, John Gray and Daniel Yergin and some.
Chapter 2
Revise tables produce in more summary form and update
Make more explicit mention of factors of production
Break up text a bit more, using bullet points e.g. pp 30-33
Update commentary on East Asia and revise all boxes.
Chapter 3
This chapter stands up well and will not require much change.
Box 3.2 on the wine industry will be replaced with box on some other industry example
analysis of rents on apartments or housing for instance.
New set of exercises to be prepared.
Chapter 4
Include clearer distinction between a shift in demand and a rise versus an increase in demand.
Update Box 4.1 on the cellophane case
In Section on estimating demand functions, refer to Dolan and Simon's recent book on 'Power
Pricing'
In Section 4.5, link text with Chapter 6 on price determination under monopoly.
Revise exercises.
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