microeconomics

American  

[mahy-kroh-ek-uh-nom-iks, -ee-kuh-] / ˌmaɪ kroʊˌɛk əˈnɒm ɪks, -ˌi kə- /

noun

(used with a singular verb)

1. the branch of economics dealing with particular aspects of an economy, as the price-cost relationship of a firm.

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microeconomics British  

/ ˌmaɪkrəʊˌiːkəˈnɒmɪks, -ˌɛkə- /

noun

1. (functioning as singular) the branch of economics concerned with particular commodities, firms, or individuals and the economic relationships between them Compare macroeconomics

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microeconomics Cultural  

1. Economic analysis of particular components of the economy, such as the growth of a single industry or demand for a single product. (Compare macroeconomics.)

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Other Word Forms

• microeconomic adjective
• microeconomist noun

Etymology

Origin of microeconomics

First recorded in 1945–50; micro- + economics

Compare meaning

How does microeconomics compare to similar and commonly confused words? Explore the most common comparisons:

• macroeconomics vs. microeconomics

Example Sentences

Some calculations used by macroeconomic experts can be adapted to the field of microeconomics and even personal finance; such is the case with marginal propensity to consume and marginal propensity to save.

From Encyclopedia.com

Many of the analysts are focused on health policy, while others handle energy and climate, labor, macroeconomics, microeconomics, national security and taxes.

From Washington Post

Christopher Norio Avery, who teaches microeconomics and statistics at Harvard’s Kennedy School, said changing the system “has exciting upside possibilities, but may have a range of unintended consequences.”

From New York Times

PredictIt makes its data publicly available, and dozens of research institutions have made use of it for studies of microeconomics and political behavior.

From Washington Post

“I’ve always remembered the juxtaposition,” Ms. Bestani said, “of her having this conversation about microeconomics while, at the same time, supervising the building of a sand castle.”

From New York Times