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Microeconomics: What are the strengths and weaknesses

Microeconomics: What are the strengths and weaknesses

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Answer #1

Explanation:

Strength and Weakness of Microeconomics:

Strengths:

  • Microeconomics uses the quantitative research methods to analyze and evaluate different economical phenomena.
  • Its uses the logical extension for the rational expectations.
  • Microeconomics is easier to understand for people.
  • Microeconomics has created a unified system that combines classical and methodological achievements.

Weaknesses:

  • In microeconomics the problems of growth and development were totally ignored.
  • It is considered too simple for the people.
  • Mainly focuses on monetary policy as main instrument that regulator of economy.
  • This avoids the functions of aggregate demand.
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