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 diversity of preferences and endowments that, in orthodox microeconomics, define the market equilibrium is, in the microfoundations literature, entirely erased.
Matching estimates of the treatment effect of taking calculus on performance in microeconomics principles and macroeconomics principles are obtained in two parts.
The first question in this part is whether the students use social networks for discussion about microeconomics.
In a series of articles we focus only on the microeconomic analysis of the Federal Region.
The complexity of them should not preclude their being presented in an introductory course, in light of recent offerings of introductory microeconomics textbooks.
The College Board regularly requires that the AP exams be given to college students who are completing an introductory course in microeconomics or macroeconomics.
It is hoped that this book will stimulate further research based on microeconomics data as well as demonstrate to policy makers and the statistical agencies of the region the value of strengthening the empirical foundation of an area of public policy that may well be crucial in shaping the region's economic and social development.
They are widely recognised as two of the best economists in Canada, with Prof Blackorby known for his work in areas such as microeconomics theory, social choice, welfare economics and public finance.
The resource-based view can be positioned relative to at least three theoretical traditions: SCP-based theories of industry determinants of firm performance, neo-classical microeconomics, and evolutionary economics.
I was convinced that not only his particular conclusions but the whole formulation of macroeconomics was wrong, so I wanted to demonstrate that we had to return to microeconomics.
Ferguson, with whom he collaborated on a series of professional articles and on one of the most successful intermediate microeconomics textbooks of its time, Economic Analysis (R.
My own impression is that Chayanov (who disappeared during Stalin's purges of the 1930s) won but a narrow following among anthropologists in the 1960s, picked up a couple of contributors to the American Historical Review in the early 1970s, and was denounced in the same decade by Marxist rural historians who could not stomach his individualistic microeconomics.