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What is the difference between MicroEconomics and MacroEconomics?

December 27, 2017

Micro Economics vs Macro Economics

 

 

Macro Economics is about the wider picture of the world, how is the global economy or a country's economy run?

A country's demand and supply, Balance of payments (BOP), GDP, economies of scale at a country level, fiscal and monetary policies, interest rates, foreign exchange rates and lots more.

 

Micro Economics is about businesses inside a country.

How does a business cope with change in demand and supply at a local level, economies of scale for firms, fixed cost and variable cost and more.

 

 

 

 

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