Business economics textbook – First chapter

This project aims to develop the first chapter of a textbook to be used in the Introduction to Business Economics foundation course MBAF 504 offered at the University Canada West in the Master of Business Administration program. MBAs are designed to prepare and develop leaders, so the new insights will help MBA students (future managers) study and understand economics more effectively, which in turn will assist them in succeeding in the course, program, and in their professional and personal lives. For master's degree students from UCW as well as all MBA programs and those involved in business, it will provide the necessary toolkit to be prepared for the business environment in any specialization field. Accordingly, the chapter should provide explanations of the economic contents relevant to managers and students, clarifying concepts and introducing fundamental theories, taking into account the Canadian business environment. This research is crucial because there is a gap in the literature to be filled since Business Economics textbooks are limited, and most were written in other parts of the world rather than Canada. Hence, this new textbook aims to find the best resources to explain valuable economic content. In order to collect and provide the economic information necessary, extensive research was conducted, synthesizing and analyzing the scarce Business Economics literature published by others. Since the collection of compiled data provided insight into the terminology and concepts used in the field, the critical literature review ensured the effectiveness of the research. Through a business decision-making perspective and an explanation of relevant economic contents, this methodology ensured that the chapter developed satisfies the MBA students' needs.