Microeconomics

(redirected from microeconomist)
Also found in: Dictionary, Thesaurus, Medical, Encyclopedia, Wikipedia.

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 ?
Executive Order 12,291 (as lightly amended by President Bill Clinton) has served as an Open Sesame to allow microeconomists into the Cave of Regulation.
Of course, some neo-classical microeconomists have examined the profit implications of factors of production that are inelastic in supply.
On the other hand, scholars with a focus on the urban/metropolitan landscape, microeconomists, refugees from the pre-Reagan era's focus on regionalism, and those with a practical orientation toward local economic development may find this work to be a refreshing and even inspiring challenge to previously held misconceptions about the significance and impacts of local economics and politics.
The posts available include specialized positions such as microeconomists, international personnel specialists, e-business officers, and media and operation-merger strategists.
This occurred in part because, until recently, currency crises were more balance of payments current (trade) account than capital (financial) account crises and the focus more of macroeconomists, while banking problems were primarily the domain of microeconomists.
Nonetheless, a change of heart toward the impact of culture on individual behavior can be found among even some prominent microeconomists.
The issue of gender inequality in schooling, in particular, has drawn a lot of attention from microeconomists.
To date, the experimental methodology has been used primarily by microeconomists and game theorists to test theories of individual or strategic behavior in various economic environments.
Microeconomists are concerned with the effects of industry structure, taxation and supply-side policies on investment.
And in cases "where they have exhibited suspicion of the fairness of policy measures recommended by microeconomists such as myself, on grounds of economic efficiency, the fairness analysis often seems to confirm that there is something that does really merit suspicion" (Baumol 1986: 254).
Microeconomists are often needed since difference analysis is at the heart of transfer pricing analysis.
While he pays lip service to cost-benefit analysis, he is disdainful of approaches taken by conventional microeconomists.