Microeconomics
The distinction between microeconomics and macroeconomics can be described in terms of small-scale vs. large-scale or in terms of partial vs. general equilibrium. Perhaps the most important distinction, however, is in terms of the role of equilibrium. While issues in microeconomics seldom challenge the notion of a naturally occurring equilibrium, the existence of business cycles and, especially, unemployment suggests to many observers that macroeconomics raises issues of a different character.
EconModel reference: Microeconomics.
●
Classic Economic Models
Interactive presentations of the most important models
in microeconomics and macroeconomics go beyond
anything appearing in a printed-on-paper textbook.
Learn to think like an economist.
Arbitrage Pricing
Arbitrage Profit
Average Cost
Budget Constraint
Call Option
Concave Function
Consumer Surplus
Consumption Function
Convex Function
Deadweight Loss
Demand Curve
Econometrics
Economic Agent
Economic Model
Economics
Economics Textbook
Elasticity
Endogenous
Equilibrium
Exchange Rate
Exogenous
Federal Funds (Fed Funds) Rate
Fixed Exchange Rate
Floating Exchange Rate
Frictional Unemployment
Gross Domestic Product (GDP)
Income Effect
Income Elasticity
Indifference Curve
Interest Rate
Intertemporal Substitution
Jensen's Inequality
Macroeconomics
Marginal Cost
Marginal Product
Marginal Utility
Microeconomics
Monopoly
Optimizing Behavior
Perfect Competition
Phillips Curve
Price Elasticity
Producer Surplus
Production Function
Production Possibility Frontier
Put Option
Recession
Reservation Wage Rate
Risk Aversion
Structural Unemployment
Substitution Effect
Supply Curve
Technological Growth
Theory of the Consumer
Theory of the Firm
Unemployment Rate
Utility Function
Widget