Providing a business-centred approach to economics, this text relates prevailing economic theories to the realities of business activity through the use of case studies. It should be particularly helpful to students with business experience as it shows the application of economic concepts to the business world. Among the case studies are Caterpillar Construction Equipment, showing how reduced costs of manufacture might undermine cost recovery; cases from the privatised utilities i.e. BT and the Water Companies, illustrating the problems of performance measurement within the private as well as the public sector; and Shell, Brent Spar and Nigerian Oil in the chapter on the natural environment.
Alan Neale is Senior Research Fellow at the East London Business School, University of East London. Apart from his research interest in labour market economics and low pay, he is also undertaking work on the nature of sustainable development and its implications for industrial policy. Colin Haslam is Professor of Accounting and Business Strategy and Associate Director of the School of Management at Royal Holloway College, University of London. His research interests employ accounting analysis to investigate the possibilities and limitations and business strategy in the mature advanced economies. Sukhdev Johal is a lecturer in Accounting in the School of Management at Royal Holloway College, University of London. His research interests include developing a value added accounting analysis of macro-economic circuits of production and consumption and a sectorial examination of tertiary education and retailing.