2019 update: I’m intending to publish an updated version of the book. My primary aim was to correct some typos, update the examples, and add a few new sections. I now have individual chapter PDFs that I am making available to my students for their comments and feedback. If you would like access please contact me.
Evans, Anthony J., 2014, Markets for Managers: A Managerial Economics Primer (Wiley Finance Series)
Like Adam Smith’s ‘Wealth of Nations’ this book began as a series of lectures for my students. But unlike the first edition of Sigmund Freud’s ‘The Interpretation of Dreams‘, it’s sold more than three hundred copies!* (Although it’s sold zero copies in Norway)
A list of end of chapter discussion questions and Problem Set (with solutions) is available to instructors on request.
Errors: download here 🙁
An accessible text that provides managers with a well–rounded economic awareness
Successful managers possess an understanding of economic and market principles as they relate to business itself. Markets for Managers presents managerial economics in a casual, accessible format that will help management professionals take economic realities into account when running their companies or divisions. The book takes a global perspective while covering the full range of micro– and macroeconomic principles that managers around the world need to know. Complete with online resources that include further reading and a YouTube playlist, this guide puts business management practice within its economic context to produce a practical tool for managers.
By understanding market operation and what might cause market failure, management professionals can lead companies that respond to market pressures and align operating strategies with economic realities. Monetary and fiscal policies affect businesses of all sizes, and in Markets for Managers, business leaders can learn how to read the ever–shifting fiscal landscape.
- Delivers market information tailored to managers and the managerial decision–making process
- Comprehensively explains macro– and microeconomic ideas in language that′s accessible
- Provides concrete suggestions for utilizing market knowledge to improve internal operations and align incentives
- Helps managers build a global view of business for optimal decision making
The practical format of Markets for Managers is perfect for professionals and students who want to gain an applied perspective on today′s most pressing economic issues.
This website will also serve as a hub for a wider platform to learn Managerial Economics. Some of the electronic resources that complement the book include:
- Facebook Page
- My Econ Reading List
- Course Readings
- The Economist: An MBA Reader
- An MBA Library
- Macroeconomic simulators/tools
I believe that it is a great time to learn economics, and the ongoing turmoil in the global economy has increased demand for accessible yet fulfilling economics books. There is a lot of excellent material out there, and they all help to expand the market for textbooks. However there’s a gap. This project is based on my frustrations at not having a textbook that I can recommend to my own students, and my desire to harmonize the existing electronic resources that I currently make available. I want to create a hub for students of economics – whether they’re enrolled on an MBA programme, a time-pressured executive, or simply an interested layman – to see the world differently and feel part of the conversation.
The aim of the book is to fill a niche by combining three things:
- It is enjoyable to read and easy to relate to
- Covers microeconomics and macroeconomics
- Incorporates a market process approach to economics
Praise for Markets for Managers
“It could redefine how politicians and senior executives understand the reality of market processes.” —Steve Baker MP, Treasury Select Committee
“Pitched at exactly the right level and covers exactly the right material to enable business executives to set themselves apart from the crowd by understanding how markets work.”—Philip Booth, Editorial and Programme Director, Institute of Economic Affairs
“Full of excellent examples and a pleasure to read.” —Nicolai J. Foss, Professor of Strategy and Organization, Copenhagen Business School
“An excellent overview of the key debates in economic theory and leaves the reader enlightened, rather than frustrated. Highly recommended.” —Allister Heath, Deputy Editor, The Telegraph
“Students will appreciate the clear and compelling examples, effective technical exposition, and useful summaries. A very effective text!” —Peter G. Klein, University of Missouri
“Evans successfully distils some of the wisdom of the wiser economists and debunks some of the more bizarre claims of other parts of the economics profession.” —Toby Baxendale, Entrepreneur
“An engaging, clear, comprehensive course in economics.” —Sam Bowman, Research Director, Adam Smith Institute
“I am confident this book will become a favourite read among our current students and alumni.” —Zoran Đorđević, Managing Partner, Cotrugli Business School
“An enjoyable explanation of principles that are often misunderstood, denied, or buried in economic jargon.” —Bruno Prior, Managing Director, Forever Fuels Ltd
“Handy at all times.” —Krunoslav Koprivnjak, Sales Representative, Oracle
- “Hayek/neoliberal bollocks no doubt” Anon.
- “So good that if I can find someone to buy it I will ask them if I can borrow their copy” Anon
- “Highest econ knowledge/words ratio of any intro textbooks.”
- “Very clear and good” Ben Southwood
- “A great book for a thorough insight in broad span of knowledge and skills you need to know to successfully ran a business.” Amazon.com reader
- “Good read on economics, some interesting points.” Amazon.com reader
- “Great book! Very clear and helpful.” Amazon.co.uk reader
- “The way it is written makes it a great tools for understanding the big picture of how markets works and to encourage you to go deeper, especially for people with minimum knowledge about Economics.” Amazon.co.uk reader
- “A textbook textbook.” Amazon.co.uk reader
- “Having had Anthony Evans’ eye opening book “Markets for Managers: A Managerial Economics Primer” on hand we got to comprehend the theory behind our data results and could analyze them with our newly gained knowledge; by digging deeper into the topic we found out interesting principles and patterns that we focused our research on so as to answer the question at hand.” ESCP Europe Bachelor student
- Incentives matter
- Cost and choice
- Market exchange
- Prices and economic calculation
- Competition and the market process
- Capital theory and recalculation
- Public finance
- Monetary theory
- Fiscal policy
- International economics
- Behavioural economics
- Global prosperity
Speaking engagements/promotional tour:
- University of Liverpool, September 30th 2014
- Cotrugli Business School, Belgrade, October 25th 2014
- Cambridge Society for Economic Pluralism, University of Cambridge, November 4th 2014
- ESCP Europe Open Day, London, November 8th 2014
- Southern Economic Association, Atlanta, November 22nd 2014
- Cotrugli Business School, Belgrade, December 13th 2014
- Cotrugli Business School, Zagreb, January 31st 2014
- Adam Smith Institute, London, April 30th 2015
- CADI, Bucharest, May 18th 2015
- Manuscript workshop, Fairfax, VA, October 19th 2013
- Purpose: Informal but detailed attempt to shape the content and structure of the book, and build a PR plan for publication.
- Focus group, London, November 4th 2013
- Purpose: General advice on some of the issues raised from the manuscript workshop. It is not necessary to have read any of the manuscript in advance, because I will prepare a list of discussion questions. I am interested in general thoughts and ideas about some of the more heterodox aspects of the book.
(*) See Weiner, 2016, p.180 and p.260