Microeconomics


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Microeconomics

Analysis of the behavior of individual economic units such as companies, industries, or households.

Microeconomics

The study of the behavior of individuals, companies, and industries. That is, macroeconomics studies economic decisions at the individual and small unit level. It does not look at the function of larger data sets like GDP or national debt. It is useful in helping determine what motivates individual buyers and sellers to do what they do. See also: Macroeconomics, Bottom-up investing.

microeconomics

the branch of economics concerned with the study of the behaviour of CONSUMERS and FIRMS and the determination of the market prices and quantities transacted of FACTOR INPUTS and GOODS and SERVICES. Microeconomic analysis investigates how scarce economic resources are allocated between alternative ends and seeks to identify the strategic determinants of an optimally efficient use of resources. See also THEORY OF CONSUMER BEHAVIOUR, THEORY OF THE FIRM, THEORY OF MARKETS, THEORY OF DEMAND, THEORY OF SUPPLY, MACROECONOMICS.
References in periodicals archive ?
The core of the book then consists of seven chapters that address the most common and important distinct topics covered in a typical microeconomics textbook: consumer behaviour, firm behaviour, market structure, externalities, income distribution, government, and international trade.
Finance, Development, and Industrial Organization have seen significant increases in share, whereas Macroeconomics, Microeconomics, and Labor have seen declines.
Table 1 shows a brief description of the variables used and their means for the two estimations: the effect of calculus on a microeconomics grade and the effect of calculus on a macroeconomics grade.
A survey conducted for the purposes of this paper was made among the first--year students who have attended classes in Microeconomics on the Faculty of Economics--Zagreb during the academic year 2010/2011.
Unlike macroeconomics, which account for interactions in the economy, microeconomics offers a detailed treatment of individual decisions about particular commodities ignoring interactions.
Nine-member teams spend months studying everything from calculus and microeconomics to literature, as well as preparing essays, speeches and interviews.
For example, in the introductory microeconomics course, it is straightforward to connect the behavior of a product price-maker and a resource price-maker.
Along the way, she earned her doctoral degree in Economics from the University of Maryland and taught microeconomics at Georgetown University's Public Policy Institute for 2 years.
In each competition, students answer questions on microeconomics, macroeconomics and international economics.
By now the pattern is sufficiently well established that the generalization can no longer be denied: The Republicans have become the party of fiscal irresponsibility, trade restriction, big government, and failing-grade microeconomics.
Indeed, the current crop of supposedly conservative Republicans has so abandoned traditional conservative values that liberal Harvard economist Jeffrey Frankel could write of their economic policies that "the Republicans have become the party of fiscal irresponsibility, trade restriction, big government, and failing-grade microeconomics.
The exam covers 10 areas: financial management, accounting, macro and microeconomics, marketing, operations management, finance, strategy, quantitative analysis, and organizational behavior.