FIALOVÁ, Helena; FIALA, Jan. Goods and Services Markets: Business Cycle Analysis
1st ed. Prague: Metropolitan University Prague Press and A plus, 2018. ISBN 978-80-87956-88-5
Business cycle analysis is a specific field of economic analysis based on a theoretical framework. "One of the functions of theoretical economics is to provide fully articulated, artificial economic systems that can serve as laboratories in which policies that would be prohibitively expensive to experiment within actual economies can be tested out at much lower cost." (Lucas 1980, p.696) Based on theory and in compliance with theoretical conclusions, the core of this publication is a practical approach to business cycles. The book should serve as a tool for students and businessmen, as well, describing, explaining and analyzing behaviours of individuals, firms and countries in the contemporary world in the context of business cycles. Conclusions and different aspects of business cycles and their influences on economic reality are demonstrated by examples from the contemporary world economy and historical events.
Business cycle analysis may be oriented towards territories (countries, regions, continents) or goods and services markets. Both fields are closely related as the economic performance of a territory consists of the performance of many markets for different goods and services. Business cycle analysis appears in two books, which are closely related. This publication deals with goods and services markets, the title being "Goods and Services Markets. Business Cycle Analysis." The title of the subsequent volume with orientation towards performance of national economies is "National Economic Performance in the Business Cycle".