NOTES FOR MICROECONOMICS 2011

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NOTES FOR MICROECONOMICS by Prof. Nicholas Economides Stern School of Business Spring 2015 Copyright Nicholas Economides 1 MICROECONOMICS is about 1. Buying decisions of the individual 2. Buying and selling decisions of the firm 3. The determination of prices and in markets 4. The quantity, quality and variety of products 5. Profits 6. Consumers satisfaction There are two sides in a market for a good DEMAND SUPPLY Created by Consumers Created by firms Each consumer maximizes Each firm maximizes its satisfaction ( utility ) profits.

1 MICROECONOMICS is about 1. Buying decisions of the individual 2. Buying and selling decisions of the firm 3. The determination of prices and in markets

  Microeconomics