The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd


  • Hal R. Varian
Reference work entry


Microeconomics is the study of individual economic units and their interactions. In includes the theory of the consumer, the producer, and the markets in which they are involved. Microeconomics is often contrasted with macroeconomics which is concerned with the behaviour of economic aggregates, such as aggregate consumption and production.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Hal R. Varian
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