The Economics of Modern Business

Outdated management techniques cannont be expected to cope with the complex problems of modern business. Today′s managers must have a better understanding of the internal structure of the firm and a clear picture of the firm′s place within the economy as a whole. In the thoroughly revised and updated second edition of this highly original textbook for business students, W. D. Reekie, D. E. Allen and J. N. Crook examine contemporary management issues in an objective and well balanced fashion. A special feature of the book is its successful intergration of introductory financial analysis with microeconomic theory. It includes extensive sections on financial markets, distribution channels, industrial relations and government policies and stresses the overriding importance of market forces in business decision-making. The second edition incorporates all the changes created by ′big bang′, new accounting standards, the EC and the harmoniation of reporting requirements as well as a completely revised discussion of taxation systems, industrial relations, pricing, small firms, privatizations and monopoly policy. It is an essential text for students and provides an up-to-date and complete introduction to the economics of modern business.