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.
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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.
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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.
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Basic microeconomics shows how price controls create shortages.
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Nor are the book's microeconomics beyond fault.
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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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