micro and macro economics distinguish between

Why some economies grow faster than others.The effects of monetary and fiscal policy on economic health.The causes of economic upswings and downturns.The effects of general taxes such as income and sales taxes on output and prices.Some topics that macroeconomists study are: Rather than analyzing individual markets, macroeconomics focuses on aggregate production and consumption in an economy. Macroeconomics can be thought of as the “big picture” version of economics. It looks at ‘aggregate’ variables, such as aggregate demand, national output and inflation. Macro economics is the study of the whole economy. Externalities arising from production and consumption.Supply and demand in individual markets.It looks at issues such as consumer behaviour, individual labour markets, and the theory of firms. Microeconomics is the study of particular markets, and segments of the economy. Put another way, microeconomics concerns itself with the behaviour of individual markets, such as the markets for oranges, the market for cable television, or the market for skilled workers. Externalities and other market side effects.Effects of government regulation on individual markets.Firm production and profit maximization.Consumer decision making and utility maximization.The field of microeconomics is concerned with things like: Those who have studied Latin know that the prefix “micro-“ means “small,” so it shouldn’t be surprising that microeconomics is the study of small economic units. Macroeconomics, on the other hand, is the study of a national economy as a whole. Microeconomics is the study of economics at an individual, group or company level.

Micro and macro economics distinguish between