What is Macroeconomic and compare the two categories of economics Macroeconomic and Microeconomic

What is Macroeconomic and compare the two categories of economics
Macroeconomic and Microeconomic

Expert Solution

Macroeconomic is a branch of economics where the economy is considers and studied as a whole. The aggregate economic changes are considered in macroeconomic study which includes GDP, unemployment, inflation and growth rate.

MACROECONOMIC ANBD MICROECONMIC DIFFERNCES

* Macroeconomics always deals with the income of a nation. Microeconomic deals with individual income.

* Macroeconomic is a wider aspect. Whereas miccroecnomic is a narrow aspect.

* Macroeconomics helps in determination do employment and income. Microedcn0mics is used for determining the price.

* Macroeconomics studies the import5ancce of growing and the issues of an econo0my. Microeconomics studies the problems of an individual.

* The macroeconomic study is conducted for taking aggregate decisions and microeconomic study is done for taking household and firm decisions.

* Macroeconomic is a complex study. On the other hand microeconomic study is considered as simple.

* Macroeconomic is considered as a study from bird’s eye view. On the other hand microeconomic is worms eye view.

Rahul Sunny answered 2 years ago

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