Advanced Concepts
The Rule of microeconomic principles
Why principles in microeconomics? Principles take you further than pure economic theory; principles show you the reasons underlying…
September 1, 2021 · Taylor EmmaAuthor: Taylor Emma
A senior editor for The Mars that left the company to join the team of SenseCentral as a news editor and content creator. An artist by nature who enjoys video games, guitars, action figures, cooking, painting, drawing and good music.
Advanced Concepts
Monopoly and pricing
A monopoly is a firm with market power, i.e. it observes impact of own quantity change on the…
September 1, 2021 · Taylor EmmaAdvanced Concepts
Perfect competition
Company at the perfectly competitive market Here we start with the analysis of a firm’s behavior at the…
September 1, 2021 · Taylor EmmaAdvanced Concepts
Producer theory
In this chapter we analyze producer’s behavior. This is important to understand (i) demand for input factors (like…
September 1, 2021 · Taylor EmmaAdvanced Concepts
Consumer theory
In this chapter we will analyze consumer choices. This is important to understand both (i) the demand for…
September 1, 2021 · Taylor EmmaAdvanced Concepts
Introduction to economic methods
A traditional definition of economics, advocated by Lionel Robbins, says that Economics is the science which studies human…
September 1, 2021 · Taylor EmmaAdvanced Concepts
Interactive mind maps in economics
These materials, authored by Maurice Starkey, are available under a Creative Commons Attribution-ShareAlike licence. First published online by…
September 1, 2021 · Taylor EmmaAdvanced Concepts
What Is Macroeconomics?
Macroeconomics is the study of the behavior of the economy as a whole. This is different from microeconomics,…
September 1, 2021 · Taylor EmmaAdvanced Concepts
Microeconomic Success
On the success side of the microeconomic ledger are many companies whose top management made the right decisions…
September 1, 2021 · Taylor EmmaAdvanced Concepts
Making Economic Decisions – Starting A Business
The microeconomic concepts that drive the decision-making processes of an established firm also apply to start-up businesses. A…
September 1, 2021 · Taylor Emma