Question

Whats the difference between macro and micro economics?

Answer 1

Microeconomics is a part of economics which studies behaviour of various entities at an individual level i.e. consumer , firm , producer etc whereas macroeconomics deals with study of behaviour at an aggregate level ( for the economy as a whole ).

Microeconomics involves determining equilibrium prices , wages using tools for demand and supply at an individual Level whereas macroeconomics involves determination of national income , inflation rate , employment levels etc .