Includes bibliographical references (p. 194-203) and index.

Much of the literature for business economics courses has tended to be highly technical and theoretical. Foundations of Business Economics redresses this imbalance by focusing on real life business situations. The book provides a readable explanation of microeconomic analysis in terms of real business environment; product markets; factor markets; and general equilibrium. The underlying theme is the way in which markets link together interdependent economic activities, so the discussion begins in an individual bookshop and ends with general equilibrium models of the entire economic system. On the way attention is paid to markets facing and resolving problems of information. The book is largely free of mathematics and technical detail and is therefore easily accessible. It will be particularly valuable to those students who are primarily interested in the human side of industry and economic specialists feeling the need to come down to earth from the austere heights of pure theory. Harry Townsend is Emeritus Professor of Economics at Lancaster University. FHe was one of the founders of the Edwards seminars in Industrial Administration and has played a key role in establish business economics as a subject.