What is microeconomics?
Microeconomics refers to the branch of economics that studies the economy on an individual and business level, as opposed to macroeconomics, which looks at the economy as a whole. Microeconomics operates on concepts of consumer theory and utility, producer theory, and market structures, examining how resources and goods are produced and used by businesses and consumers. Using the principles of microeconomics, professionals can gain insight into the economic welfare of individuals and communities, which can be applied to everything from addressing income inequality in underinvested communities to pricing of products.
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Microeconomics courses and certifications/curriculum
Introductory microeconomics courses may cover microeconomic theory, economic systems, government policies, principles of microeconomics, the differences between macro and microeconomics, and consumer theory. More advanced curricula may include instruction on supply and demand, labor economics, market equilibrium, producer theory, capital markets, welfare economics, and more. A learner’s ultimate area of focus will shape their educational path, so it’s good to consider how new skills align with your professional goals.
Careers in microeconomics
Companies need microeconomists to better understand the financial impact of their business. Their insights and findings help to shape business strategies and goals. College professors, economists, entrepreneurs, and business consultants can all apply knowledge of microeconomics to the work that they do. If you are interested in studying this field, explore how online microeconomics courses can help you achieve your personal and professional goals. Start your learning journey today with edX.