Tag Archives: micro

Being pro-markets, not pro-business

Being pro-business risks supporting incumbent firms against new entrants – this is not good. * Economists are generally in favour of markets as ways to organise activity. Introductory microeconomics teaches students about how a competitive market brings demand and supply together efficiently: consumers get choice in what to buy, and companies are forced to be… Continue Reading

The basic microeconomics of finance

Introduction Conventional finance theory is based on the microeconomic theory of consumer choice under uncertainty. This is a long established theory with some serious weaknesses. On the MFin we have a core course called “Economic foundations of finance” which shows where finance theory comes from and, in passing, should make students a bit more cautious… Continue Reading