Microeconomics

The research concerned how decisions at the household and business level inform models of the wider economy.

Microeconomics examines decisions involving individuals' household and business macroeconomics, studied economy, wider developments such as growth, inflation, and development.

The connection between those levels matters because the national totals are built for many separate decisions.

A household chooses whether to spend or save.

But it's not a hopeless cause.

Microeconomics in particular has seen a very strong turnaround over the past couple of decades, with genuinely rigid experiments, the development of behavioural economics and actual practical systems for answering the fundamental questions the field set out to solve.

Recent winners of the Nobel Memorial Prize in Economic Sciences have been recognised for exactly this kind of practical, rigorous work.

In 2020 Paul Milgram and Robert Wilson won for their improvements to auction theory and their invention of new auction formats.

Prime lending will now be 10.75%.

Standard Bank Group head of South Africa, uh, Microeconomic Research, Elna Moolman.

This seems to reflect its ongoing concerns around some of the forecast risks, including from the global economy.

The bank's own model still sees scope for another 75 basis points of interest rate cuts in 2026 and 2027.