Direct a company’s daily affairs as its second-in-command.
As a Microeconomics Professor, you are an expert in the field of economics, with an emphasis on the study of the economy on a small scale. Buying and selling, supply and demand, household finances, and limited resources are all subjects that you study thoroughly, and teach your students. In addition to comprehending these subjects, as a Microeconomics Professor, you understand the language of economics, excel at math, and educate your students on these as well.
Your goal as a Microeconomics Professor is to teach people about small-scale economics. Most likely, you won’t be working as a Microeconomist in your free time, but your students will. So they need to gain a solid understanding of how local laws, taxations, supplies, and demands for products affect not only microeconomics but also the larger part of the economy, or macroeconomics. Once your students have learned the principles of microeconomics, their aim is to learn how to effectively maximize profits with limited resources.
Because you are a Professor first and foremost, there are certain jobs that come with the territory apart from the study of microeconomics. You participate in administrative work with your fellow Professors, attend meetings, and hold office hours. You’re also expected to write a certain amount of published journal entries, papers, and op-eds throughout the year. This pads your income, which you’ll probably need because, as a Microeconomics Professor, you don’t exactly receive a “macro” paycheck.