They are trying to take basic microeconomic ideas and apply them to more complex macroeconomic situations.
FORBES: What You Don't Often Hear About Those "Envious" 99 Percenters
In 1984 Lord Lawson argued that chancellors should assign distinct roles to macroeconomic and microeconomic policy.
From a microeconomic point of view, there are several big benefits to this system.
His second objective is to improve Britons' microeconomic incentives to invest and to work.
In the past year or so, Mr Brown has moved on to stage two: microeconomic reform.
For one thing, microeconomic policy in two of the three big economies is uncertain.
Congress is considering several microeconomic reforms, such as streamlining government procurement and environmental licences.
The euro has, in effect, exposed Italy's true weaknesses, which are microeconomic in nature.
Her macroeconomic policies have a mixed record, but the microeconomic policies have had a more enduring success.
In her case, it was a launching-pad for the microeconomic reforms that cumulatively transformed the British economy.
Such microeconomic studies provide support for macroeconomic analyses that suggest a link between mobile phones and economic growth.
ECONOMIST: How a luxury item became a tool of global development
Not only tax laws have changed drastically--your whole microeconomic universe is in flux.
In most rich countries the detailed plans for fiscal austerity contrast sharply with a lamentable lack of microeconomic ambition.
Without free trade, the efficiency improvements wrought by microeconomic reform will be blunted.
But in the long run what really determines the success of an economy is going to be its microeconomic structure.
Simply put, Mr Brown believes, unlike Lord Lawson, that detailed microeconomic policy, calibrated by a wise chancellor, can work wonders.
And there is a host of microeconomic ideas, such as tax breaks for research and development, designed to promote investment.
On a microeconomic level, China has a very high household saving rate, accounting for about 25 percent of its GDP.
The differences are in that long run of microeconomic differences, not anything that has been done to the macroeconomic aggregates.
In the long run the path the economy takes is almost entirely driven by the interaction of these microeconomic matters.
The second way to measure a budget is to look at its microeconomic effect how tax changes are intended to alter behaviour.
But what made them so devastating was that they were met by microeconomic failures described in the special report in this issue.
Perhaps the region first had to stabilise its economies and build its social safety net before embarking on microeconomic and institutional reform.
Its microeconomic reforms appeal less to its own voters than to business.
And microeconomic policy ought to do more than improve productivity and employment.
Mr Porter may be right to think that the region should concentrate on microeconomic reforms that boost productivity, which can raise living standards.
How about trying some microeconomic ones that encourage CEOs to create new companies here and grow globally each of those could create U.S. jobs.
One display case, called "The Price of a Life, " brings the whole business down to a microeconomic scale, and features perhaps the most disturbing artifacts.
WSJ: Human Transactions | Spirits of the Passage | Frazier History Museum | By Mark Yost
Much of modern macroeconomics has been about how, and whether, his ideas fit into the formal microeconomic building blocks of rational behaviour and complete markets.
应用推荐