#business #humans # [[Epistemic status]] #shower-thought #to-digest # Related > [!TODO] Related > [[Macroeconomics]] > [[Microeconomics]] # TODO > [!TODO] TODO # Economics >The field of economics is traditionally divided into two broad subfields. Microeconomicsis the study of how households and firms make decisions and how they interact in specific markets. Macroeconomicsis the study of economy wide phenomena. A microeconomist might study the effects of rent control on housing in New York City, the impact of foreign competition on the U.S. auto industry, or the effects of compulsory school attendance on workers’ earnings. >~ [[Gregory Mankiw - Principles of Macroeconomics]] # External links - Title: Microeconomics - Wikipedia | URL: https://en.wikipedia.org/wiki/Microeconomics - Title: History of microeconomics - Wikipedia | URL: https://en.wikipedia.org/wiki/History_of_microeconomics - Title: Market mechanism - Wikipedia | URL: https://en.wikipedia.org/wiki/Market_mechanism