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What is "microeconomics"

Crossword clues for microeconomics

microeconomics
Longman Dictionary of Contemporary English
microeconomics
noun
EXAMPLES FROM CORPUS
▪ After the important context of this macroeconomic study of sport, the rest of the book looks at the microeconomics of sport.
▪ Are they rational decision-makers of the kind proposed in microeconomics and Game Theory?
▪ Explain the distinction between microeconomics and macroeconomics.
▪ For this reason, we started the book with microeconomics and only now turn to the study of macroeconomics.
▪ Take the rationality assumptions of microeconomics or of Morgenthau's Realism, for instance.
▪ The article caused a rethink in microeconomics, a rethink that is still going on.
▪ We have looked at some of the key principles that underlie microeconomics.
▪ We started this chapter by describing microeconomics as tile complex study of mundane questions like whether to buy another can of tuna.
Douglas Harper's Etymology Dictionary
microeconomics

1948, from micro- + economics. Related: Microeconomic.\n

Wiktionary
microeconomics

n. The field of economics that deals with small-scale economic activities such as those of an individual or company.

WordNet
microeconomics

n. the branch of economics that studies the economy of consumers or households or individual firms

Wikipedia
Microeconomics

Microeconomics (from Greek prefix mikro- meaning "small") is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.

This is in contrast to macroeconomics, which involves "the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national economic policies relating to these issues". Microeconomics also deals with the effects of national economic policies (such as changing taxation levels) on the aforementioned aspects of the economy. Particularly in the wake of the Lucas critique, much of modern macroeconomic theory has been built upon ' microfoundations'—i.e. based upon basic assumptions about micro-level behavior.

One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics also analyzes market failure, where markets fail to produce efficient results, and describes the theoretical conditions needed for perfect competition.

Usage examples of "microeconomics".

We did consider, for about six minutes, writing a book that would revolve around a single theme—the theory and practice of applied microeconomics, anyone?

We did consider, for about six minutes, writing a book that would revolve around a single theme--the theory and practice of applied microeconomics, anyone?