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Studies & Degrees in Microeconomics

Microeconomics is the branch of economics that studies how individual consumers and firms make decisions and how those decisions meet in markets. The International Monetary Fund (IMF) sums up the division of the discipline this way: macroeconomics studies employment, gross domestic product and inflation, while microeconomics studies supply and demand in single markets. Typical questions are how a price is set, how a company reacts to a new tax, or what a minimum wage does to employment in one sector.

Microeconomics is not usually a degree of its own. It is one of the core subjects of every economics degree and is also taught in business, finance and public policy programmes.

What students learn

Microeconomic theory is built on models of consumers and firms that try to do the best they can with limited resources. An introductory course covers the same ground almost everywhere. The Principles of Microeconomics course that the Massachusetts Institute of Technology (MIT) publishes on OpenCourseWare lists these topics:

  • supply and demand and market equilibrium
  • consumer theory
  • production and the behaviour of firms
  • monopoly and oligopoly
  • welfare economics, public goods and externalities

Later courses go deeper. According to the IMF, the subfields include consumer demand theory, the theory of the firm, market competition, imperfect information and general equilibrium, and microeconomic analysis is applied in areas such as trade, industrial organisation, labour economics and public finance. The subject is mathematical: students need calculus and statistics, and econometrics, which the IMF calls the third core area of economics, supplies the tools to test theories with data.

Qualifications and levels

  • Bachelor's degree. Microeconomics is studied in several steps within an economics degree. In Spain, the bachelor's degree in economics (grado en Economía) has 240 ECTS credits over four years. At the Universidad Carlos III de Madrid (UC3M) it includes Microeconomía in the first year, Teoría Microeconómica, game theory and industrial organisation in the second, and electives such as quantitative microeconomics; the degree can be taken entirely in English. The Universidad de Sevilla teaches the subject in three courses, Microeconomía I to III.
  • Bachelor's degree abroad. At HSE University in Moscow, the Bachelor's Programme in Economics lasts four years, has a significant mathematics component and is taught in Russian with some courses in English.
  • Study abroad semester. Single courses can be taken during a semester abroad. AEP Academic Experience in Prague, the undergraduate programme of Charles University and CERGE-EI, runs fall and spring semesters taught in English.
  • Master's degree and PhD. Advanced microeconomics is a compulsory part of most master's and doctoral programmes in economics, where students who want to specialise write their thesis in a field such as industrial organisation, labour economics or game theory.

Where to study it

The SpainExchange directory lists 6 schools for microeconomics: 2 in Spain and 1 each in the Czech Republic, Italy, Russia and the United States. The Spanish entries are UIBS / Barcelona Business School and CIFF, Centro Internacional de Formación Financiera, in Madrid; the others include HSE University in Moscow and Tennessee Tech University.

Since the subject is part of a wider degree, compare the whole programme: how many microeconomics courses it has beyond the introduction, how much mathematics and econometrics it requires, and the language of instruction. At business schools, ask what recognition the qualification has.

Careers

Microeconomic analysis is used wherever prices, costs and competition matter: in company strategy and pricing, consulting, competition and regulatory authorities, and public policy evaluation. The IMF notes that it shows how policies such as minimum wages, taxes or price supports affect individual markets. The US Bureau of Labor Statistics gives a business example: economists may analyse consumer demand and sales to help a company maximise its profits.

For the profession of economist itself, postgraduate study is the norm. According to the Bureau, economists typically need at least a master's degree, although graduates with a bachelor's degree and enough credits in economics, statistics or mathematics may qualify for some entry-level positions. Economists held about 18,600 jobs in the United States in 2025, 22 percent of them in management, scientific and technical consulting, and employment is projected to grow 5 percent from 2025 to 2035. Many more graduates use microeconomics in jobs with other titles, such as analyst or consultant.

Frequently asked questions

What is the difference between microeconomics and macroeconomics?

Microeconomics studies individual consumers, firms and markets. Macroeconomics studies the economy as a whole: in the IMF's words, employment, gross domestic product and inflation. Economics degrees teach both.

Can I take a degree in microeconomics only?

Normally not. It is a core subject within an economics degree; in Spain that is the grado en Economía, with 240 ECTS credits over four years. Specialisation comes through electives and at master's or PhD level.

How much mathematics does microeconomics need?

Introductory courses use graphs and basic algebra, but intermediate and advanced courses rely on calculus, optimisation and statistics. UC3M, for example, teaches mathematics for economics in the first year, alongside the first economics courses.

Can I study it in English in Spain?

Yes. UC3M states that its grado en Economía can be studied entirely in English. Check the language of instruction of each programme before applying.