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Economics should play a crucial role in every business decision, yet many business people do not have a firm grasp of the concepts or fully understand how economics relates to the business decision at hand. This study offers a crisp overview of economic concepts along with case studies that demonstrate exactly how to apply economics to everyday business decisions and forecasting. From analyzing the demand for a product to sliding economies of scale, these applied lessons in economics round off with a major glossary of terms used by economists and business people.

This text exemplifies how to synthesize new control thinking with an understanding of process variability, to diagnose abnormalities and their causes in aluminum producing plants. Most examples also demonstrate the need for different human behavior and a more scientific, questioning approach to the management of production. This approach is drawn from the authors' more than 25 years of experience, not only in metals plants but also in oil and gas production and food processing plants. Readers get a view into the human aspect of accidents and the problems of production.