Abstract
Microeconomics is the study of individual economic units and their interactions. In includes the theory of the consumer, the producer, and the markets in which they are involved. Microeconomics is often contrasted with macroeconomics which is concerned with the behaviour of economic aggregates, such as aggregate consumption and production.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
This is a preview of subscription content, log in via an institution to check access.
Bibliography
Boulding K. 1948. Economic analysis. Revised ed. New York: Harper and Brothers.
De Wolff, P. 1941. Income elasticity of demand, a micro-economic and a macroeconomic interpretation. Economic Journal 51: 140–145.
Frisch, R. 1933. Propagation problems and impulse problems in dynamic economics. In Economic essays in honour of Gustav Cassel, ed. R. Frisch. London: Allen & Unwin.
Frisch, R. 1934. Some problems in economic macrodynamics. Econometrica 2: 189.
Keynes, J.M. 1936. The general theory of employment, interest and money. New York: Harcourt, Brace.
Klein, L. 1946. Macroeconomics and the theory of rational behavior. Econometrica 14: 93–108.
Leijonhufvud, A. 1968. On Keynesian economics and the economics of Keynes. New York: Oxford University Press.
Machlup, F. 1963. Micro- and macro-economics: Contested boundaries and claims of superiority. In Essays on economic semantics, ed. F. Machlup and M. Miller. Englewood Cliffs: Prentice-Hall.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Copyright information
© 1987 The Author(s)
About this entry
Cite this entry
Varian, H.R. (1987). Microeconomics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_1212-1
Download citation
DOI: https://doi.org/10.1057/978-1-349-95121-5_1212-1
Received:
Accepted:
Published:
Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences