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Business Economics

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Biography

For more than 10 years Professor Thomas Lange has been carrying out research and consultancy with various businesses, industry and with a number of government departments.

He also holds various visiting fellowships and professorships in Eastern and Western Europe, including a professorship in Managerial Economics at the Polytechnic University of Bucharest.

He has published widely in the area of European labour markets. He has undertaken research and consultancy studies for numerous national and international bodies including the European Commission, Scottish Enterprise and the Department for Education and Employment.

Thomas Lange is the author of over 50 articles on economic analysis. Recent book publications include Unemployment in Theory and Practice (Edward Elgar, Aldershot, 1998), The Economics of German Unification (with G. Pugh, Edward Elgar, Aldershot, 1998) and Understanding the School-to-Work Transition: An International Perspective (Nova Science Publishers, New York, 1998).

Why Use the Web to Study Business Economics?

Business economics incorporates the study of economic theory and practice applicable to issues which are particularly relevant to business transactions, both at the micro- and macroeconomic level. Economic theory on its own is of prime importance, but this chapter tries to bring out its relevance to a full understanding of "real world" problems and issues and introduces the discussion of "live topics" such as consumer behaviour, commercial risk and uncertainty, human resource issues and international trade. Economics is relevant and the subject itself is continually changing to reflect the radical shifts in thinking about (and in policy towards) the business environment in the 1990s and into the new millennium.

Students should acquire information widely and, in particular, keep themselves up-to-date on economic issues and developments. This is where the Web can help. Web-based material tends to be regularly updated and provides better access to new and emerging issues than any source in traditional paper-printed format. Business economics, in particular, is subject to frequent change and the Web will provide detailed analyses of these changes usually even more quickly than a daily news programme on radio or television. The Web also provides useful links to other relevant material and thus incorporates rich and topical resources which go beyond the scope of printed textbooks. It is the vital combination of topicality and volume which makes the Web a perfect resource for the study of business economics.

This chapter provides an introduction to the Web sites relevant to business objectives and models of the firm and it is designed to provide access to relevant material and links to other related information. Each sub-section can be used independently, or as part of a systematic study approach. If all subjects in this chapter are relevant, students are advised to work systematically through them, reading each one first fairly quickly and then again more slowly, and using referenced links to other sites. Each sub-section is structured in a similar fashion: a brief introduction to the topic is followed by references to relevant sites on the Internet.

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