An introduction to understanding the macroeconomic environment in which businesses operate. The text emphasizes the need for managers to understand their environment and brings them up to date with the latest controversies and debates. Written for the non-economist, it avoids the use of mathematical formulae and complex diagrams. This edition has been extensively revised and updated with more international content and contemporary case studies and statistics.

Table of Contents

* The Essence of the Economy. * An Overview. * Performance. * Understanding Economic Flows. * National Income Determination. * Management of the Economy I: Fiscal Policy. * Management of the Economy 2: Monetary Policy. * Supply-side Economics. * International Trade. * Exchange Rate Policy. * Case Studies. * Appendix: Sources of Economic Data for Managers. * Further Reading.