Our everyday economic lives can be examined through the lens of microeconomics-from ticket prices and sporting events to the cost of food and clothing. Microeconomics explores the behaviour of individuals and businesses, how markets work and are formed, and how the government influences markets.
Julia A. Heath received a Ph.D. at the University of South Carolina and currently teaches economics at the University of Cincinnati. She is the director of the Economics Center for Education and Research at the university and has won several teaching awards, including the Carnegie Foundation U.S. Professor of the Year Award; the economics discipline's highest award, the Kenneth G. Elzinga Distinguished Teaching Award; and the Educator of the Year Award from the National Association for Financial Literacy.