**Price Theory**

Price theory, also known as microeconomics, is the branch of economics that focuses on the behavior of individual consumers, firms, and industries. It analyzes how these economic agents make decisions regarding the allocation of scarce resources. Price theory examines how prices are determined and how they affect the allocation of resources, production, consumption, and welfare.

**Microeconomics vs. Macroeconomics**

Microeconomics and macroeconomics are two main branches of economics. While microeconomics focuses on the behavior of individual economic agents, macroeconomics studies the behavior of the economy as a whole. Macroeconomics examines aggregate variables such as national income, employment, inflation, and economic growth.

**Difference between Price Theory and Macro Economics**

While macroeconomics studies the overall behavior of the economy, price theory (microeconomics) focuses on the behavior of individual agents within the economy. Price theory analyzes how individual consumers and firms make decisions in the marketplace, how prices are determined, and how these decisions impact the overall allocation of resources.

**Development Economics**

Development economics is a branch of economics that focuses on the economic development of countries and regions. It examines the factors that contribute to economic growth, poverty reduction, and improved living standards. Development economics studies issues such as inequality, education, health, infrastructure, technology, and trade.

**Public Economics**

Public economics is a branch of economics that analyzes the role of government in the economy. It examines how the government collects revenue through taxes and how it allocates resources through public expenditure. Public economics also studies the impact of government policies on economic efficiency, equity, and welfare.

**Conclusion**

In conclusion, price theory is another term for microeconomics, which focuses on the behavior of individual consumers, firms, and industries. It analyzes how these economic agents make decisions regarding the allocation of scarce resources. Price theory examines how prices are determined and how they affect the allocation of resources, production, consumption, and welfare.