What is Microeconomics? | From A Business Professor

Description

Imagine you're deciding between buying a new iPhone or saving for a family trip, or a company is choosing between investing in new equipment or hiring additional staff. These kinds of decisions are at the core of microeconomics, which helps us understand how choices affect prices and resource allocation. So, what exactly is microeconomics? What core topics does it cover? Why is it important to study? What skills will you develop? In this video, I will discuss these questions with you.