microeconomics• Explain the distinction between microeconomics and macroeconomics.• We started this chapter by describingmicroeconomics as tilecomplex study of mundanequestions like whether to buy another can of tuna.• Are they rationaldecision-makers of the kindproposed in microeconomics and GameTheory?• The articlecaused a rethink in microeconomics, a rethink that is still going on.• Take the rationality assumptions of microeconomics or of Morgenthau's Realism, for instance.• After the important context of this macroeconomic study of sport, the rest of the book looks at the microeconomics of sport.• We have looked at some of the keyprinciples that underliemicroeconomics.• For this reason, we started the book with microeconomics and only now turn to the study of macroeconomics.