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

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 • Jan. 24, 2023

The money will back education and research efforts in applied microeconomics, business, digital medicine, global health, neuroscience, and translational research programs at the university’s Feinberg School of Medicine.

From Seattle Times • Dec. 31, 2021

But for any given industry, the impact of tariffs depends on the microeconomics of its products: How much does demand change when its prices rise?

From New York Times • Jun. 23, 2018

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 • Apr. 9, 2018

It goes to heart of why macroeconomics and microeconomics are different fields, each with its own logic.

From Salon • May 21, 2017