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During recent decades, macroeconomists have attempted to combine microeconomic models of individual behaviour to derive the relationships between macroeconomic variables. Presently, many macroeconomic models, representing different theories,<ref>• Thomas Cooley, ed., (1995), ''Frontiers of Business Cycle Research,'' Princeton University Press. [http://press.princeton.edu/titles/5684.html Description] and [https://books.google.com/books?id=hfTf0u4JuRsC&pg=PR7=gbs_atb preview]. {{ISBN|0-691-04323-X}}.
• [[Michael Woodford (economist)|Michael Woodford]] (2003), ''Interest and Prices: Foundations of a Theory of Monetary Policy, '' Princeton University Press. [http://press.princeton.edu/titles/7603.html Description] and [http://press.princeton.edu/TOCs/c7603.html Table of Contents]. {{ISBN|0-691-01049-8}}.</ref> are [[Dynamic stochastic general equilibrium|derived by aggregating microeconomic models]], allowing economists to test them with both macroeconomic and microeconomic data. However, microfoundations research is still heavily debated with management, strategy and organization scholars having varying views on the "micro-macro" link.<ref name=":12">{{Cite journal|last1=Barney|first1=Jay|last2=Felin|first2=Teppo|date=May 2013|title=What Are Microfoundations|url=https://www.jstor.org/stable/43822016|journal=Academy of Management Perspectives|volume=27|issue=2|pages=138–155|doi=10.5465/amp.2012.0107|jstor=43822016|s2cid=154370237|via=JSTOR}}</ref> The study of microfoundations is gaining popularity even outside the field of economics, recent development includes operation management and project studies.<ref>{{Cite journal |last1=Locatelli |first1=Giorgio |last2=Greco |first2=Marco |last3=Invernizzi |first3=Diletta Colette |last4=Grimaldi |first4=Michele |last5=Malizia |first5=Stefania |date=2020-07-11 |title=What about the people? Micro-foundations of open innovation in megaprojects |url=http://www.sciencedirect.com/science/article/pii/S0263786320300491 |journal=International Journal of Project Management |language=en |volume=39 |issue=2 |pages=115–127 |doi=10.1016/j.ijproman.2020.06.009 |s2cid=225633977 |issn=0263-7863 |archive-url=https://eprints.whiterose.ac.uk/162747/ |archive-date=3 July 2020|hdl=11311/1204792 |hdl-access=free }}</ref>
==History and importance==
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