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The word “micro” comes from Greek, and means small. Consequently, microeconomics is a science that studies economic actions of individual households, firms, and industries. Therefore, this discipline studies “economics in small” or, in other words, it studies the actions of individual economic units.

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Microeconomics Questions That Are Important for Assignment Writing

Microeconomics is a complex subject and it is quite difficult to cover all concepts that are required by professors. However, each microeconomics tutor is able to give you answers to all kinds of troublesome issues, such as:

  • Behavioral economics

    This includes the study of market decisions and behavior of public choice.

  • Game theory

    Game theory is the study of how to make better economic decisions based on price and output. There are many game theory techniques that many organizations are using to achieve success.

  • Classic duopoly model

    This deals with the detailed behavior of firms that are under consideration. The theory covers the maximization of profit theory and Nash equilibrium evaluation.

  • Market failure and externalities

    This involves studies in the sphere of microeconomics about learning the reasons of market failure. In addition, it includes the study of social cost.

  • Applied microeconomics

    This includes many specific spheres of study that may be applicable in industrial organization.

  • Labour economics

    Labour economics is the important sphere of microeconomics which studies the level of employment and wages, the dynamics of the labour market and the rate of return, and many more.

  • Health care economics

    This specific branch studies health care insurance programs, health care workforce, and urban economics.

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