For help preparing for, and support during your MBA course, The Essential MBA brings together a comprehensive overview of the main subjects taught on MBA and business and management programs in one book.

Each chapter is written by a specialized contributor and offers students a helpful introduction to each topic of study, including: Useful sections on research methods and study skills; Further reading recommendations and questions for reflection; A critical perspective of the subject matter; discussions of the underlying assumptions of mainstream theories; and reviews of alternative approaches.

Covering many key areas of management, this text is an invaluable guide for MBA students, as well as offering a useful introduction for undergraduate and graduate students of business and management and practitioners interested in reflecting how some areas of current thinking relate to their own experience and practice.

Economics1

Economics
Professor TonyCockerill, University of Cambridge

Chapter Overview

Key Concepts

Allocative efficiency; Average total cost; Backward induction; Nash-Bertrand equilibrium; Constant returns to scale; Consumer surplus; Cournot-Nash equilibrium; Creative destruction; Cross-price elasticity of demand; Deadweight loss; Decreasing returns to scale; Diminishing marginal utility; Economic efficiency; Economies of scale; Efficient markets hypothesis; Elasticity of demand; Externalities; Fiscal policy; Fixed costs; Game theory; Gross domestic product (GDP); Income elasticity of demand; Increasing returns to scale; Indifference curve; Isoquant; Long period; Marginal cost; Marginal product; Marginal rate of substitution; Marginal rate of technical substitution; Marginal revenue; Monetary policy; Monopoly; Monopsony; Nash equilibrium; Nash-Bertrand equilibrium; Nash-Cournot equilibrium; Normal profit; Oligopoly; Opportunity cost; Own price elasticity ...

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