Andreff and his contributors bring a strong dose of reality to the economic modelling of sports leagues. Disequilibrium Sports Economics provides an intellectually compelling opening and a theoretically necessary antidote to the study of sports economics.' - Andrew Zimbalist, Smith College, US'This is an interesting book worth reading for every sports economist because it introduces a thought provoking approach to the growing field of sports economics. The authors show how disequilibrium economics may improve our understanding of puzzling economic phenomena in sports. I congratulate the editor and the contributors for this new book and the novel perspectives provided therein!' - Helmut M. Dietl, University of Zurich, Switzerland 'I felt great intellectual excitement after getting acquainted with this volume. The high quality papers by Wladimir Andreff and his co-authors are more significant than the topic indicated modestly by the title; they may not only urge economists of sport to reconsider their earlier theories, but may also provide inspiration and a new momentum to the wide research program on disequilibrium and the soft budget constraint.' - Janos Kornai, Harvard University, US and Corvinus University of Budapest, Hungary 'This book sounds like a theoretical breakthrough towards a new approach in sports economics that generates important insights into the issue of financial fair play in football.' - Andrea Traverso, Head of Club Licensing and Financial Fair Play, UEFA 'This path-breaking volume contains novel analysis of problems of critical importance to sports clubs, leagues, fans and academics interested in sports.' - Robert Simmons, Lancaster University Management School, UK For decades, sports economics has been set within the framework of equilibrium economics, in particular when modelling team sport leagues. Based on a conviction that this does not reflect real life, this book addresses a gap in the literature and opens up a new research area by applying concepts drawn from disequilibrium economics. It is divided into two parts, the first of which focuses on economic disequilibrium in sports markets and competitive imbalance in sporting contests. The second part concentrates on soft budget constraints and their consequences for club governance and management. This pioneering book is the first to tackle non-mainstream economics in sport and offers a first approach to disequilibrium sports economics. Providing a new metric of competitive balance and opening up new avenues of future research, this is essential reading for economists and those researching sport across many disciplines. Contributors: W. Andreff, E. Franck, J.-P. Gayant, N. Le Pape, R.D. Macdonald, K. Nielsen, R.K. Storm, G.N. Tuck, D. van Reeth, A.R. Whitten

Economics – macro, micro and mysterious – is integral to everyday life. But despite its importance for personal and collective decision making, it is a discipline often viewed as technical, arcane and inaccessible and thus overlooked in public discourse. This book is a call to arms to bring the discipline of economics more into the public domain. It calls on economists to think about how to make their knowledge of the economics public. And it calls on those who specialise in communicating expert knowledge to help us learn to communicate about economics. The book brings together scholars and practitioners working at the early stages of an emerging field: the public communication of, and public engagement with, economics. Through a series of short essays from academics and practitioners, the book has two key goals: first and foremost, it will make a case for why we need to make economics public and for the importance of having a clear vision of what it means to make economics public. Secondly, it suggests some ways that this can be done featuring contributions from practitioners, including economists, who are engaging audiences in newspapers, museums and beyond. This book is essential reading for those in economics with an interest in making economics public and those already in the many fields dedicated to communicating expert knowledge in public spaces who have an interest in where economics can fit.

What do business organizations do? The results of business behaviour can be observed and experienced in the form of the goods that are produced. However what goes on within organizations is often hidden from the outside world. This reader enables the student to make sense of business behaviour by offering an understanding of what organizations do. The book is underpinned by a systems perspective and takes a process view of organizations. This enables it to demonstrate that any business is a number of interrelated business processes and that success is determined by the extent to which these activities add value whilst minimising cost. Specifically the book focuses on: activities through which the organization interacts with its customers including marketing and sales; how organizations process materials including purchasing and manufacturing; and forms of business organization, with a critical account of new paradigms including business process re-engineering. The book features articles by leading business gurus including Michael Porter, Philip Kotler and John Kay.

'Business Economics: Theory and Application' is an undaunting and accessible text that focuses on the real world of business and how this relates to economics.
The links to business are far more intrinsic that in other business economics textbooks where a business "flavour" is simply added to traditional economics theory. It provides an in-depth jargon-free analysis, particularly relevant for one semester courses. A variety of case studies and questions are used throughout the text both to illustrate key points and for seminar and assignment work. Diagrams are included to aid the explanation of complex issues, and review and discussion questions are incorporated to consolidate and expand on the learning. A lecturer's supplement accompanies the text.
Accessible and undaunting approach for students with very little prior knowledge of the subject
Includes economic theory which is used to explore and analyse business issues and application of this theory through international case studies
Demonstrates the links between economics, strategy and marketing

This textbook provides an important and fresh approach to the understanding of microeconomic policy. Microeconomic Policy links principles to settings and shows how theory compliments policy and vice-versa. By linking theory to policies and application, this text will enable students to acquire proficiency and recognise balance in policy analysis and preparation. It contains comprehensive coverage of a broad range of policy areas including:
* competition and technology policy
* information and governance policy
* industrial and environmental policy
* social and income policy
* public sector failure and reform.


eBook available with sample pages: HB:0415236002

This text is directed at researchers, decision makers and students who are interested in the wider economic development impacts of transport.

The Socialist Industrial State (1976) examines the state-socialist system, taking as the central example the Soviet Union - where the goals and values of Marxism-Leninism and the particular institutions, the form of economy and polity, were first adopted and developed. It then considers the historical developments, differences in culture, the level of economic development and the political processes of different state-socialist countries around the globe.

From Google's chief economist, Varian's best-selling intermediate microeconomics texts are revered as some of the best in the field. And now students can work problems online with Smartwork5, Norton's online homework system, packaged at no additional charge with the Media Update Editions. In addition to online homework, the texts now include four-colour graphs and new interactive animations.

This challenging book tackles one of the most fundamental questions in economics: Why are commercial organizations more efficient than organizations in the public domain? It is generally accepted that the traditional answer (the fact that commercial organizations maximize profits) does not necessarily hold true. Finding a solution to this anomaly, as this book attempts to do, should therefore be a prime concern in economics. The authors believe the answer lies in the fact that even in a completely stable environment, all organizations will eventually fail irreparably. Organizations operating in the market are more efficient because, once in decline, they are 'free to fail' and allowed to be disassembled or even replaced. Public organizations that fail are more often than not protected and allowed to continue even though their efficiency is questionable. This fascinating and thought-provoking book will provide a stimulating read for academics and students with an interest in economics, business and management and public policy. Contents: Preface 1. Introduction 2. Key Concepts 3. The Historic Debate 4. Profit Maximization is Only Part of the Answer 5. Organizational Mortality and its Fruits 6. Causes of Organizational Failure 7. Uncontrollability 8. Empirical Evidence 9. The Soft Constraint Syndrome 10. When Left to its Own Devices 11. Necrosis and Apoptosis 12. Why Public Organizations? Appendix: The Dutch Affair or the Destructive Power of Organizational Warfare References Index

Investment Banks, Hedge Funds, and Private Equity, Fourth Edition provides a real-world view of this fast-evolving field, reviewing and analyzing recent innovations and developments. This reference captures the actual work of bankers and professional investors, providing readers with templates for real transactions and insight on how investment banks, hedge funds, and private equity firms provide services to each other while creating opportunities for corporations and investors to raise capital, invest, hedge, finance, acquire, divest, and risk manage. For each type of institution, the business model, organizational structure, products, challenges, regulatory issues, and profit-making opportunities are explained. In addition, specific transactions are analyzed to make clear how advisory services, financings, investments, and trades produce profits or losses, and which types of risks are most commonly taken by each type of institution. Importantly, the linkage of investment banks, hedge funds, and private equity to corporations, governments, and individuals is described, enabling the reader to more clearly understand how these organizations impact them and how their products and services can be best utilized.

Series Information:
Routledge Studies in Business Organizations and Networks

Local enterprise, institutional quality and strategic location were of central importance in the growth of medieval towns. This book, comprising a study of 112 English towns, emphasises these key factors. Downstream locations on major rivers attracted international trade, and thereby stimulated the local processing of imports and exports, while the early establishment of richly endowed religious institutions funnelled agricultural rental income into a town, where it was spent on luxury goods produced by local craftsmen and artisans, and on expensive, long-running building schemes. Local entrepreneurs who recognised the economic potential of a town developed residential suburbs which attracted wealthy residents. Meanwhile town authorities invested in the building and maintenance of bridges, gates, walls and ditches, often with financial support from wealthy residents. Royal lordship was also an advantage to a town, as it gave the town authorities direct access to the king and bypassed local power-brokers such as bishops and earls. The legacy of medieval investment remains visible today in the streets of important towns. Drawing on rentals, deeds and surveys, this book also examines in detail the topography of seven key medieval towns: Bristol, Gloucester, Coventry, Cambridge, Birmingham, Shrewsbury and Hull. In each case, surviving records identify the location and value of urban properties, and their owners and tenants. Using statistical techniques, previously applied only to the early modern and modern periods, the book analyses the impact of location and type of property on property values. It shows that features of the modern property market, including spatial autocorrelation, were present in the middle ages. Property hot-spots of high rents are also identified; the most valuable properties were those situated between the market and other focal points such transport hubs and religious centres, convenient for both, but remote from noise and pollution. This book takes an interdisciplinary approach, drawing on expertise from the disciplines of economics and history. It will be of interest to historians and to social scientists looking for a long-run perspective on urban development.

The Decline and Fall of Neoliberalism argues that the neoliberal era – starting after the collapse of the Bretton Woods system – is coming to an end. In the wake of the financial and economic crisis of 2008 and the outbreak of the pandemic in 2019, the doctrine outlined by monetarists appears to offer an inadequate response to the economic instability that characterises our contemporary world. To deal with the fallout of these crises, central banks have stepped in as major regulators of the economic system through massive interventions to support both financial markets and public spending, marking a clean break with the traditional conception of their role as depoliticised actors. Is the resurgence of inflation a consequence of this reckless strategy over which they seem to have lost control? Or is it rather rooted in an outdated understanding of money and monetary policy? One thing is certain: a profound change in policy is emerging. The growing turmoil in the global economy and the environmental challenges that face us demand an urgent and comprehensive rethinking of the economic role of the state. This book further develops the analysis presented in Populism and Neoliberalism and takes a closer look at the nature of neoliberalism as a political doctrine. Through this detailed description, it identifies the difficulties within economic thought that prevent it from responding appropriately to contemporary challenges. Drawing from the lessons of history, it proposes a renewed relationship between the state and the market that strikes a balance between planning and self-regulation. A post-neoliberal world is about to dawn, but its shape can still be determined by the path we choose to follow.

The globalization of the economy has become an irreversible, universally dominant trend. Industrialized and developing nations as well as countries in transformation have to face the challenge of building internationally competitive economic structures. One-sidedly liberalist economic policies do not lead to the emergence of systemic competitiveness. What is called for are active development strategies. But how are they to be implemented, and what is the state of the political governance capacity of societies in the context of the new world economy?

This monograph is a formal account of the structure and organization of a large Japanese advertising agency. Based on a year's fieldwork in a Tokyo-based agency, the book presents a case study of an advertising campaign to outline the complex relations that exist between different divisions (Account, Planning, Marketing, Creative) within an advertising agency, and between the agency and the client, on the one hand, and the agency and media, on the other.

The Economic Impact of New Firms in Post-Socialist Countries analyses the emergence and contribution of new entrepreneurs in the transforming economies of Eastern Europe.Small firms and new enterprises are widely assumed to play an important role in the process of economic development and transformation. The contributors to this volume investigate how far small and newly founded enterprises have compensated for losses in employment and contributed to economic recovery in Eastern Europe. With analysis based on new empirical data, this extensive volume covers the situation in Russia, Estonia, Poland, Hungary, the Czech Republic, Bulgaria, Romania and Slovenia as well as East Germany. Issues covered include attempts to stimulate entrepreneurship, guidelines for successful bottom-up transformation and the prospects for new and small firms in Eastern Europe. The Economic Impact of New Firms in Post-Socialist Countries will be welcomed for its detailed, empirically-founded discussion of entrepreneurship, micro-level studies of transition, small business economics and comparative economic systems.

CONSTRUCTION MICROECONOMICS Unique and comprehensive reference describing microeconomic approaches, theories, and models adapted to and developed for the construction industry Construction Microeconomics provides comprehensive coverage of microeconomics applied to the construction industry, focusing on construction clients, who initiate construction projects, and on contractors who transform the ideas and plans of clients into infrastructure and buildings. With the help of microeconomic theory, it tries to answer questions about decision-making by clients, contractors, and governments with respect to projects in the built environment. It includes discussions of alternative theories to mainstream microeconomics, such as new institutional economics, behavioral economics, and the capability approach. Applications from the construction sector including land supply, sustainability, industrialization, and lean construction are provided to ground the theory in practical construction. In Construction Microeconomics, readers will learn: How microeconomic theory relies heavily on assumptions for modeling and the nuances of adjusting those assumptions How heterogenous contract goods affect supply and demand, markets, information, technology, and accordingly, the theories of contractors and owners How interaction influences the production process and how land as a production factor changes the production function How ex-ante costs determine the cost theory of the contractor and why contracting is more akin to the service sector than the goods sector Advanced undergraduate and masters students, lecturers and academics in -construction and related disciplines, and professionals in the construction industry looking for expert analysis into a unique facet of the field will find Construction Microeconomics to be a valuable, complete, and authoritative reference on the subject.

Food consumption and nutrition are historically among the most characteristic features of inequality in living standards driven by socioeconomic, gender, generational and geographical reasons. Nutrition directly impacts mortality, life expectancy, height and illness and thus becomes a good indicator of living standards and their evolution over time. However, one issue that remains unresolved is how to measure past diet inequalities with the available sources. This book evaluates nutritional inequalities in Spain from the nineteenth century to the present day. It explores the socioeconomic, gender, generational and geographical variations in food consumption and nutrition in Spain during this period. Deriving historical data on nutrition and diet has always been difficult due to issues with available sources. This book adopts a multi-dimensional approach and two complementary methodologies capable of presenting a more comprehensive picture: the first analyses diets based on primary sources, while the second examines the effect of nutritional inequalities on biological living standards, with special emphasis on average height. This combination allows for greater precision than previous studies on the impacts of food inequality. This book will be of significant interest to scholars from different academic branches, especially historians, economic historians and historians of science, economists, and also doctors, endocrinologists, paediatricians, anthropologists, nutritionists and expert in cooperation and development.

The Patient Protection and Affordable Care Act (commonly referred to as ObamaCare or PPACA), which was signed into US law in 2010, generated a lot of noise from both supporters and detractors. This book argues that the changes introduced by ObamaCare were, in the long history of government intervention in the US health system, generally not as new or novel as claimed. The scope of the changes introduced by ObamaCare is very wide and covers, among others: the health insurance industry, pharmaceuticals, employers, employees, or the uninsured. The structure of the book shows the individual causes, key assumptions, and impacts of the reform on individual elements or areas of the US health system. One of the most important aspects of the work is analysis of the phenomenon of the so-called ‘death spiral’. The changes introduced by ObamaCare reform make it possible to investigate the causes of this phenomenon on a country-wide scale and enable a broader analysis of its effects. The book will be of great interest to readers in the economics, management and policy of health and health care.

'Linda Yueh's analysis of what past financial crises have in common is an important contribution that can help society anticipate and tackle potential crashes in the future' Christine Lagarde 'Fascinating, well-written and authoritative' Tim Harford The global economy has weathered the most tumultuous century in modern financial history. Since the Wall Street Crash in 1929, financial meltdowns have repeatedly sent shockwaves through our world. From the currency crises of the 1980s and 1990s, to Japan's housing crash, the dot com boom and bust, the global financial meltdown, the euro crisis and the COVID pandemic, The Great Crashes tells the stories of ten of these historic events. They serve as a series of cautionary tales, each with their own set of lessons to be learnt. With clear-eyed analysis, renowned economist Dr Linda Yueh extracts a three step framework to help recognise the early signs of a crash and mitigate the effects - all with the hope of preventing the worst mistakes of the past from being repeated in the next inevitable financial crisis. She warns about where the next one might come from and shows how her framework could contain it. Combining her in-depth knowledge with compelling storytelling, The Great Crashes is essential reading that offers urgent lessons for the modern world.

Enterprises located in rural regions face various challenges in the globalised and digitised world. This book offers comprehensive answers to the question of what makes up the rural enterprise economy in the contemporary business world. It addresses the competitiveness and viability, strategic management and strategic change, and marketing issues for both incumbent and start-up companies in rural regions. The book presents new concepts that shed light on the rural enterprise economy with its entrepreneurs. With a broad range of cases from European regions, the book provides theoretical insights for scholars, practical case-based evidence for lecturers and teachers, and practical knowledge for business practitioners and planning specialists. Academic experts from European universities and research institutes provide compelling answers to this under-researched topic in business studies and economics.

This comprehensive research review recaps major literary contributions to the economic theory of incentives. These carefully selected papers, both classic and contemporary, analyse collective decision problems in the context of asymmetric information, moral hazard and incomplete contracting. This review is an essential tool for any serious scholar and student in the field.

The 27 articles reprinted in this volume are among Peter Mieszkowski's most important contributions to public, urban and regional economics. Several of these pieces concern income distribution theory and policies for promoting equality in wages, housing and education.The first part of this book includes studies of labour markets, tax incidence and the distributive effects of trade unions and wage subsidies. Two important conclusions presented in these papers concern the local property tax: it is a tax on capital and it results in under-provision of local public goods. The second and third parts of the book address, respectively, the decentralization of cities and and tax reform. Issues discussed include: racial discrimination in housing markets, the design of land use regulation, the negative income tax, consumption taxes, and tax reform in transition countries, particularly Eastern European countries. These outstanding essays bring together, in an accessible form, the work of one of the most important scholars in the field of public finance and urban economics.

* 5th edition has more content on inequality, wellbeing, international trade and the changing nature of work * Several chapters include discussion on the impacts of COVID-19 on inequality, labour markets, health and beyond * General updates, including new data, new exercises and discussion questions * Differs from other principles books on the market in its pluralist approach. It covers everything the student needs to know, whilst also placing issues in their historical, institutional, social, political, and ethical context. * Introduces students to different schools of thought in economics. Perspectives include neoclassical economics, Keynesian economics, ecological economics, institutional economics and feminist economics. * Logical building-block structure, providing student with a clear sequential approach to macroeconomic models. * Companion website with student study guide, PPT slides and teaching materials (including test bank)

Pandemic Economics applies economic theory to the Covid-19 era, exploring the micro and macro dimensions of the pre-pandemic, pandemic, and post-pandemic phases. Using core economic tools such as marginal analysis, cost-benefit analysis, and opportunity cost, this book explores the breadth of economic outcomes from the pandemic. It shows that a tradeoff between public health and economic health led to widespread problems, including virus infections and unemployment. Taking an international and comparative approach, the book shows that because countries implemented different economic policies, interventions, and timelines during the crisis, outcomes varied with respect to the extent of recession, process of recovery, availability of medical equipment, public health, and additional waves of the virus. Pedagogical features are weaved throughout the text, including country case studies, key terms, suggested further reading, and discussion questions for solo or group study. On top of this, the book offers online supplements comprising PowerPoint slides, test questions, extra case studies, and an instructor guide. This textbook will be a valuable resource for advanced undergraduate and postgraduate courses on pandemic economics, macroeconomics, health economics, public policy, and related areas.