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
Tag Archives: micro
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