Business economics as a profession was largely unknown until the depression ridden 1930s, when economists assumed important positions in the government. As an academic discipline, economics goes back more than two centuries. Business began to employ economists in increasing numbers after World War II. Since then, the profession has grown rapidly. Currently, business economists are at work in manufacturing, mining, transportation, communications, banking, insurance, retailing, investment and other types of enterprise, as well as in government agencies, trade associations and consulting organisations. The present book provides readers with a practical and useful learning resource that is rooted firmly in a pragmatic and pluralists approach to economic analysis. It is structured around changing sets of problems that decision-makers need to be able to solve at different points in time in order to get a firm started, keep the firm in business despite growing competition, grow the firm and finally, rejuvenate the firm in the face of declining demand. Designed for business men and business students, it focuses on introducing the richness of economics as a framework for understanding business.
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