Microeconomics
Microeconomics is one of the core disciplines in economics - the foundation on which all other disciplines rest.
A good grasp of microeconomics is vital for managers who need to understand how particular markets operate, for policy makers concerned with the design and operation of public policy, and for all those who want to appreciate how a modern economy operates.
It begins with a study of the basic decision-makers in the economy: individuals who consume goods, sell labour, invest, and produce goods and services. These individuals' decisions and interactions form the economic structure of our society.
Microeconomics provides a deep understanding of how consumers, firms and markets work together, which allows us to answer such fundamental questions as: How are prices and quantities determined? How does the economy spontaneously organise itself so that markets operate in an orderly way? When does the natural working of the economy tend to produce socially desirable outcomes, and when does it not? Should the government intervene in the economy, and if so, how?