Deepen your understanding and think like an economist

Economics, 14th edition, by Michael Parkin is an intuitive guide to modern economics that teaches you how to think like an economist on global issues. Grounded in real-life examples, the text brings together the latest policy and thoughts on world events and encourages critical thinking to enable you to join the discussion. This new edition emphasises real-world applications with diagrams renowned for their pedagogy and clarity throughout.

With a range of learning features across its chapters, this title will give you the necessary skills to gain a clearer and deeper understanding of today's events.

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Michael Parkin is Professor Emeritus in the Department of Economics at the University of Western Ontario, Canada. Professor Parkin has held faculty appointments at Brown University, the University of Manchester, the University of Essex, and Bond University. He is a past president of the Canadian Economics Association and has served on the editorial boards of the 'American Economic Review' and the 'Journal of Monetary Economics' and as managing editor of the 'Canadian Journal of Economics.

Professor Parkin's research on macroeconomics, monetary economics, and international economics has resulted in over 160 publications in journals and edited volumes, including the 'American Economic Review,' 'the Journal of Political Economy,' 'the Review of Economic Studies,' 'the Journal of Monetary Economics,' and 'the Journal of Money, Credit and Banking.' He became most visible to the public with his work on inflation that discredited the use of wage and price controls. Professor Parkin also spearheaded the movement toward European monetary union. Professor Parkin is an experienced and dedicated teacher of introductory economics.

This text has a clear European foundation and an international appeal. In line with the globalisation of logistics, we have included cases from other parts of the world than Europe - diverse though European logistics solutions are - including South Africa, the United States, Japan, China and Australia.

Accordingly, we start in Part One with the strategic role of logistics in the supply chain. We continue by developing the marketing perspective by explaining our view of 'putting the end-customer first'. Part One finishes by exploring the concept of value and logistics costs. In Part Two, we review leveraging logistics operations in terms of their global dimensions, and of the lead-time frontier. Part Two continues by examining the challenges of coordinating manufacturing and retail processes, and the impact on logistics of just-in-time and the agile supply chain. Part Three reviews working together, first in terms of integrating the supply chain and second in terms of sourcing and supply management. Our book ends with Part Four, in which we outline the logistics future challenge.

This text is intended for MSc students on logistics courses, and as an accompanying text for open learning courses such as global MSc degrees and virtual universities. It will also be attractive as a management textbook and as recommended reading on MBA options in logistics and supply chain management.

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• Preface
• How to use this book
• Plan of the book
• Part One COMPETING THROUGH LOGISTICS
• 1 Logistics and the supply chain
• 2 Putting the end-customer first
• 3 Value and logistics costs
• Part Two LEVERAGING LOGISTICS OPERATIONS
• 4 Managing logistics internationally
• 5 Managing the lead-time frontier
• 6 Supply chain planning and control
• 7 Lean thinking and agile supply chains
• Part Three WORKING TOGETHER
• 8 Integrating the supply chain
• 9 Sourcing and procurement
• Part Four CHANGING THE FUTURE
• 10 Logistics future challenges and opportunities
• Index