Microeconomics: Difference between revisions

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imported>João Prado Ribeiro Campos
imported>Howard Arvi Hughes
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==See also==
==See also==


See also: [[Economics]] - [[Macroeconomics]] - [[Economic Theory]]
*[[Economics]]
*[[Macroeconomics]]
*[[Economic Theory]]


==References==
==References==

Revision as of 12:27, 1 April 2007

<This article is under construction>
For more information, see: Economics.

Microeconomics is the branch of Economics that studies the behavior of units called "economic agents". Microeconomic models investigate assumptions about "economic agents" activities and about interactions between these agents. An "economic agent" is the basic unit operating in the model. Most often, we do have in mind that the "economic agent" is an individual, a person with one head, one heart, two eyes, and two ears. However, in some economic models, an economic agent is taken to be a nation, a family, or a parliament. At other times, the "individual" is broken down into a collection of economic agents, each operating in distinct circumstances and each regarded as an economic agent. When we construct a model with a particular economic scenario in mind, we might have some "degree of freedom" regarding whom we take to be the "economic agents". [1]

See also

References

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