What is difference between micro and macro economics?

Solution
Micro Economics Macro Economics
In this branch of economics, we study about scarcity and choice at an individual level. In the branch of economics, we study about scarcity and choice at an economy level.
Main problem is to determine allocation of resources main problem is to determine level of income and output.
It uses the partial equilibrium method it uses the general equilibrium method
Examples: we study individual demand in it  example: we study aggregate demand of the economy.

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Points of Difference Microeconomics Macroeconomics
Study matters It studies individual economic units like households, firms, consumers, etc. It studies the economy as a whole.
Deals with It deals with how consumers or producers make their decisions depending on their given budget and other variables. It deals with how different economic sectors such as households, industries, government and foreign sectors make their decisions.
Method It uses the method of partial equilibrium, i.e. equilibrium in one market. It uses the method of general equilibrium, i.e. equilibrium in all markets of an economy as a whole.
Variables The major microeconomic variables are price, individual consumer demand, wages, rent, profit, revenues, etc. The major macroeconomic variables are aggregate price, aggregate demand, aggregate supply, inflation, unemployment, etc.
Theories Various theories studied are:
1) Theory of Consumer Behaviour and Demand
2) Theory of Producer’s Behaviour and Supply
3) Theory of Price Determination under Different Market Conditions
Various theories studied are:
1) Theory of National Income
2) Theory of Money
3) Theory of General Price Level
4) Theory of Employment
5) Theory of International Trade
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