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Difference between Microeconomics and Macroeconomics

Economics is classified into many types but in this blog, we will concentrate only on microeconomics and macroeconomics presently.

Microeconomics:

The analysis of the behavior of individual decision-making unit within an economic system, from households to business firms is called microeconomics. It focuses on individual participant in the economy. For example, the producer, consumer, worker etc. The following issues (and many more) are discussed in microeconomics:

Macroeconomics:

Macroeconomics is the study of the economy at an aggregate level, i.e. the economy as a whole. After the Great Depression, economists started analyzing the economic activity at a macro level. The overall price level, inflation, exchange rate of currency, etc. are topic discussed in macroeconomic analysis. The following issue (and many more) are discussed in microeconomics: