Microeconomics

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Related to microeconomic: Microeconomic theory

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 ?
Microeconomic data can be useful in providing a greater degree of richness to our understanding of the relationships apparent in the macro data.
consider a variety of explanations of the surge in measured productivity during the 1990s, including microeconomic reform, but find that none of them is consistent with the slowdown observed after 1999.
It is interesting to note that if a similar methodology were adopted in developing the theory of microeconomic demand, the resulting curve would also have an ambiguous slope.
But when two campus police officers, one working for the FBI, paid him a visit on the afternoon of October 24, they weren't interested in discussing his microeconomic theory.
Russia's microeconomic progress has been painfully slow in recent years.
Microeconomic studies on libraries can be classified into a number of categories: economic theory of libraries, economies of scale using production functions and cost functions, data envelopment analysis, cost-benefit analyses, cost modeling, and performance measures.
The purpose of this note is to make the case for inclusion of the mathematical development outlined above in standard intermediate microeconomic textbooks.
On a microeconomic standpoint, agents' workloads have increased--not necessarily from the sales process being much longer but in terms of the type of service and relationships you need to make a sale and maintain long-term relationships with relatively sophisticated clients," said Mark Murphy, a financial representative for Guardian Life Insurance Co.
While looking at the challenges of public finance management in small states, with a focus on Barbados, this book suggests strategies of fiscal and microeconomic management for small economies that will permit them to ensure macroeconomic stability while promoting economic growth and development.
Professor Kotlikoff has developed a rigorous microeconomic simulation model that examines the future of Social Security under various demographic scenarios.
Stephen Brown, director of energy economics and microeconomic policy at the Federal Reserve Bank of Dallas, doesn't see prices coming down precipitously before next spring.
In this paper, microeconomic foundations for an optimum currency area are set forth.