ECON 125 Microeconomic Theory

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Microeconomic theory as per the course ECON 125 Microeconomic Theory offers a general theory regarding how people make such decisions. This course explains how the typical customer, constrained by a limited income, chooses from the many goods and services which are for sale. On the other hand it also deals with the choices made by business organizations or firms.

Following are the three competing theories for economic contractions under course ECON 125 Microeconomic Theory:

• The Keynesian
• The Friedmanite
• The Fisherian

Microeconomics as per the course ECON 125 Microeconomic Theory is also the study of how people and organizations or business make choices of the best use of limited resources. The principles of the same can be usefully implemented to decision-making in routine life - for an example: When a person rents an apartment. Number of people, have a limited amount of time and money.

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