Unit 1 Supply, Demand and Price / 001
1.1 Consumer Choice and the Law of Demand / 001
1.2 Changes in Demand versus Changes in Quantity Demanded / 002
1.3 Producer Choice and the Law of Supply / 004
1.4 Changes in Supply versus Changes in Quantity Supplied / 006
1.5 How Market Prices Are Determined: Supply and Demand Interact / 007
1.6 Invisible Hand Principle / 009
1.7 The Economics of Price Controls / 011
Exercises / 017
Supplementary Readings / 020
Unit 2 International Trade:Theory and Policy / 026
2.1 Explaining Trade: International Trade Theories / 026
2.2 Arguments for Trade Restrictions / 029
2.3 Trade Barriers / 031
Exercises / 034
Supplementary Readings / 037
Unit 3 Letter of Credit / 046
3.1 Overview of L / C / 046
3.2 Parties and Terminology Concerning L / C / 048
3.3 Types of Letters of Credit / 050
3.4 International Trade Payment / 052
3.5 Requested Documents for Presentation / 055
3.6 Risk Situations of Letter of Credit / 056
3.7 Legal Principles / 056
3.8 The Flow Chart of Letter of Credit / 059
3.9 Bill of Exchange/ Draft / 060
Exercises / 061
Supplementary Readings / 063
Unit 4 Exchange Rate, Foreign Exchange Market, and Balance of Payments / 067
4.1 Exchange Rate and Foreign Exchange Market / 067
4.2 The Exchange Rate Regimes in the International Financial System / 073
4.3 The Balance of Payments / 076
Exercises / 079
Supplementary Readings / 081
Unit 5 Types of Enterprises and Entrepreneurship / 084
5.1 Proprietorship / 084
5.2 Partnership / 088
5.3 Company / 094
5.4 Entrepreneurship / 101
Exercises / 102
Supplementary Readings / 107
Unit 6 Management / 111
6.1 Definitions of Management / 111
6.2 Areas Covered by Management / 111
6.3 Business Management / 116
6.4 Management Levels / 123
6.5 Managerial Roles and Skills / 126
6.6 Motivating Employees / 127
6.7 Human Resource Management / 132
6.8 Performance Appraisal / 134
Exercises / 136
Unit 7 Marketing and Corporate Social Responsibility / 139
7.1 Definitions of Marketing / 139
7.2 Significant Steps in Marketing / 140
7.3 Essential Understanding of Customers, Needs and Wants / 140
7.4 Marketing Orientations / 141
7.5 The Marketing Mix (the 4 Ps) / 143
7.6 Marketing Environment / 145
7.7 Marketing Research / 146
7.8 Marketing Communication / 147
7.9 Product Life⁃Cycle Management / 148
7.10 Customer Focus / 149
7.11 Product Focus / 149
7.12 Corporate Social Responsibility / 150
Exercises / 153
Supplementary Readings / 154
Unit 8 Finance / 158
8.1 Money / 158
8.2 Financial System / 162
8.3 Financial Markets / 162
8.4 Financial Intermediaries / 165
8.5 Regulation of the Financial System / 166
Exercises / 168
Supplementary Readings / 170
Unit 9 Corporate Law / 176
9.1 Definition / 176
9.2 Overview of Corporations / 177
9.3 History of the Corporation / 178
9.4 Corporate Structure and Corporate Forms / 180
9.5 Corporate Legal Personality / 181
9.6 Capacity and Powers / 182
9.7 Corporate Governance / 183
9.8 Corporate Constitution / 183
9.9 Balance of Power / 185
9.10 Board of Directors and Directors, Duties / 185
9.11 Company Law Theory / 186
9.12 Corporate Finance / 187
9.13 Matters Effecting the Continuation of the Corporate Form / 189
Exercises / 191
Supplementary Readings / 193
Unit 10 Digital Economy / 198
10.1 Definition of Digital Economy / 198
10.2 Impact / 199
10.3 Electronic Commerce(EC) / 201
10.4 Mobile Commerce: Attributes, Benefits, and Drivers / 211
Exercises / 214
Supplementary Readings / 220