microeconomists
Individual market scholars
Microeconomists are economists who study the behavior of individuals, households, and firms—how they make decisions about allocating limited resources, how prices are determined in specific markets, and how these small-scale interactions shape larger economic patterns.
Microeconomists have long debated whether consumers behave rationally.
methodology
Theory of incremental value
- optimizationMaximizing efficiency or performance
- constraintsLimits on action
- econometricsStatistical analysis of markets
- heuristicsPractical problem-solving shortcuts
marginalism
Theory of incremental value
- optimizationMaximizing efficiency or performance
- constraintsLimits on action
- econometricsStatistical analysis of markets
externalities
Uncompensated effects on others