Differences Between Micro & Macro | Economics for GCSE/IGCSE - Year 11 PDF Download

Microeconomics & Macroeconomics

Some Of The Differences Between Micro- & Macroeconomics

• Microeconomics focuses on analyzing individual markets and specific segments of the economy, rather than the economy as a whole.
  • It delves into the various choices made by individuals, households, and businesses.
  • It investigates the factors that influence these choices.
  • It explores how the decisions made by these entities impact the prices, demand, and supply of goods and services within a market.
  • It also scrutinizes the ways in which government interventions influence consumption and production.
• Macroeconomics, on the other hand, entails studying economic behavior and decision-making across the entire economy, rather than within individual markets.
  • It evaluates the government's role in fostering economic growth and human development by implementing specific policies such as fiscal, monetary, and supply-side measures.
  • It assesses the government's efforts in achieving price stability, reducing unemployment rates, and maintaining a stable current account balance within the Balance of Payments.
  • Additionally, it examines how the economy interacts with the global arena through international trade.

Decision Makers in Micro & Macro

Decision Makers & Their Choices in Microeconomics

Decision Makers & Their Choices In Macroeconomics