{"id":3226,"date":"2021-12-18T22:47:32","date_gmt":"2021-12-18T22:47:32","guid":{"rendered":"https:\/\/intelligenceanalyst.net\/?p=3226"},"modified":"2021-12-18T22:47:53","modified_gmt":"2021-12-18T22:47:53","slug":"1-introduction-to-microeconomics-preface","status":"publish","type":"post","link":"https:\/\/www.intelligenceanalyst.net\/index.php\/2021\/12\/18\/1-introduction-to-microeconomics-preface\/","title":{"rendered":"1. Introduction to Microeconomics – Preface"},"content":{"rendered":"Reading Time: <\/span> 3<\/span> minutes<\/span><\/span>\n

Is Facebook one of the things that you use frequently? One thing that has an enormous impact on economics is how\ninformation travels through society. In this day and age, the biggest names in social media, such as Twitter, Facebook\nand Instagram are heavy hitters when it comes to forming the information super highway. <\/p>\n\n\n\n

In the following series of articles, we will examine the following things:<\/p>\n\n\n\n

> What is economics, and why is it significant?\n> The differences between microeconomics and macroeconomics.\n> The use of economic models and theories by economists for purposes of analysis and comprehension of economic\ntopics.\n> The organization of economies and the variety of different economic systems that exist and have existed throughout\nthe world.<\/p>\n\n\n\n

Example of Decisiveness:<\/b><\/p>\n\n\n\n

Should we post or not post? Every single day we run into simple issues that require us to make a decision either\none way or another, and among these include what to eat for breakfast, lunch or dinner, to which streets to take\nto class or to work, to more complicated decisions, such as “Should I do a double major and add an additional\nsemester to my education?” How we respond to these situations largely depends upon the circumstances as well\nas the access to available information that we can retrieve at that particular moment: This information is often\nreferred to as “imperfect” by economists, as we seldom have all the data we require in order to make the highest\nquality decisions available to us. Despite the fact that we do not have all the data required, we are still able\nto process the information we already have and make hundreds of decisions per day.<\/p>\n\n\n\n

Now, we have another available means through which we can collect information and that means is social media.\nSocial media outlets such as Facebook and Twitter have adjusted the procedures that we use in order to make certain\nchoices, how we use our time, what movies or TV shows we decide to watch next, what things we buy, and many\nother changes. For example, what percentage of you go on to choose a university without first looking at it’s\nFacebook page or Twitter feed to see the type of information it posts as well as whether they provide feedback\nto your questions as well as to those of others.<\/p>\n\n\n\n

As you will realize in these series of articles, how economics and economic markets are affected largely depends upon\nthe dessimination of information in a society, such as how fast information travels through the social media platform\nFacebook. “Economists love nothing better than when deep and liquid markets operate under conditions of perfect\ninformation,” states Jessica Irvine, National Economics Editor for News Corp Australia. \n<\/p>\n\n\n\n

This takes us the inevitable path of confronting the purpose of these series of articles, which is an introduction\nto the realm of decision making, information processing and parsing, and understanding behavior when it comes to\nthe markets – this is all within the realm of economics. Each segment of different articles in these series of\narticles will begin with a reference and commentary into current and sometimes past events, at the end of each\nsegment in order to try and bring the concepts learned here into a more practical sort of use.\n<\/p>\n\n\n\n

What is economics and why is it worthwhile to devote your time to studying it? There are surely other things you\ncould be doing with your time, including studying other fields. We we’ve seen the Example of Deciseveness, economists\nstudy how people make choices, and the choice for you to read these series of articles and study more about\neconomics can also be considered an economic choice.<\/p>\n\n\n\n

Economics might not be what you envisioned it would be. It is not mostly about money or finance, business or\nmathematics. So how can we define economics? It is both a way of perceiving the world as well as an discipline\nor area of study in it’s own right. <\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 3<\/span> minutes<\/span><\/span>Is Facebook one of the things that you use frequently? One thing that has an enormous impact on economics is how information travels through society. In this day and age, the biggest names in social media, such as Twitter, Facebook and Instagram are heavy hitters when it comes to forming the information super highway. In … Continue reading 1. Introduction to Microeconomics – Preface<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[97],"tags":[],"class_list":["post-3226","post","type-post","status-publish","format-standard","hentry","category-brief-guide-to-microeconomics"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/posts\/3226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/comments?post=3226"}],"version-history":[{"count":1,"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/posts\/3226\/revisions"}],"predecessor-version":[{"id":3227,"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/posts\/3226\/revisions\/3227"}],"wp:attachment":[{"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/media?parent=3226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/categories?post=3226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligenceanalyst.net\/index.php\/wp-json\/wp\/v2\/tags?post=3226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}