Microeconomics - what is it ?!

Microeconomics is that branch of economics that deals with the economic actions of individual economic subjects - especially households and companies - in the market for goods, production factors.
Sie untersucht unter Anwendung vereinfachter mathematischer Modelle unter anderem die Gesetzmäßigkeiten von supply and demand, das Kaufverhalten bei steigenden oder sinkenden Preisen, die Entwicklung der Sparquote bei veränderten Rahmenbedingungen oder die Division of labor within companies.

In the relevant specialist literature, the terms microeconomics, micro theory and microeconomics are largely used synonymously. Individual authors sometimes differentiate between microeconomics as a science and microeconomics as the subject of their research.

Sub-areas of microeconomics

  • Household theory
  • Production theory
  • Price theory

Household theory focuses on the demand side of the market, while production theory explores the supply side. In price theory, the clash of supply and demand is analyzed.

Difference - macroeconomics and microeconomics

In addition to macroeconomics, microeconomics is one of the two main areas of economics. Macroeconomics uses research results from microeconomics and places them in a larger context in order to consider economic events in their entirety.

Both fields of investigation are interdependent. An understanding of macroeconomic problems is not possible without knowledge of the underlying microeconomic relationships.

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