Micro-Economics (Speedy Study Guides)

Micro-Economics (Speedy Study Guides)
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Microeconomics studies individual behavior in the marketplace and not the economy or economic theories as a whole. In microeconomics, the decisions of individuals to buy and sell is examined in relation to the limited resources they may have. Most people, on a daily basis, are involved in making microeconomic decisions. Microeconomics is a critical subject to study for those interested in a career in finance and business. A study guide can prove invaluable for learning the material since the guide offers new information and the ability to review what may have already been learned in a formal or informal class setting.

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Speedy Publishing. Micro-Economics (Speedy Study Guides)

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Microeconomics is the branch of economics that focuses on the choices made by individual decision-making units in the economy—typically consumers and firms—and the impacts those choices have on individual markets.

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 ’micro-foundations’—i.e. based upon basic assumptions about micro-level behavior.

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Key Notes:

• It studies how an individual behaves and why

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