The great successes tend to come in microeconomics, in the relationships of prices and supply and demand.
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Crucial ideas about the role of prices and markets, the basic principles of microeconomics, are uncontroversial among economists.
On microeconomics, the Tories are ahead on points, but the gap is narrow.
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Although the two chancellors have similar macroeconomic beliefs, their microeconomics are very different.
In microeconomics in particular, the pedagogy Mr Samuelson developed diagrams of supply and demand, or cost curves, for instance still set the discipline's standard.
The distribution is of course subject to the laws of microeconomics, but we we are trying to make the total steady and predictable.
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Some schools offer two semesters, split between macroeconomics and microeconomics.
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Not so in microeconomics: regulation, tax distortions and so on.
Mr Obama's macroeconomic soundness has been undermined by the Democrats' tendency to meddle with microeconomics, leading to a health bill that imposes onerous requirements on business and a stimulus bill larded with pro-union giveaways.
Basic microeconomics shows how price controls create shortages.
But the bottom line is that a larger number of people are willing to pay a considerably larger price to watch college football than they are to listen to me discuss wage disparities and income inequality in my Principles of Microeconomics class.
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Only the microeconomics is needed.
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