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What is the difference between macro economics and micro economice ?

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Question added by Basu Dev Pokhrel , Sales Executive , ABC Project Wll
Date Posted: 2016/09/11
Saeed Ur Rehman
by Saeed Ur Rehman , Senior Manager Audit & Advisory , Afrasiab Tanveer & Co Chartered Accountants

Microeconomics is the study of particular markets, and segments of the economy. It looks at issues such as consumer behavior, individual labor markets, and the theory of firms.

Micro economics is concerned with:

Supply and demand in individual markets

Individual consumer behavior. e.g. Consumer choice theory

Individual labor markets – e.g. demand for labor, wage determination

Externalities arising from production and consumption. e.g. Externalities

 

Macro economics is the study of the whole economy. It looks at ‘aggregate’ variables, such as aggregate demand, national output and inflation.

Macro economics is concerned with

Monetary / fiscal policy. e.g. what effect does interest rates have on the whole economy?

Reasons for inflation, and unemployment

Economic growth

International trade and globalization

Reasons for differences in living standards and economic growth between countries.

 

Government borrowing

Micro economics discuss the economy of small scale such as individual, group or company. However, the macro economics discuss the economics on whole at large scale, usually at government level. 

 

At Micro level, we usually discuss about demand/supply, elasticity, on the other hand macro economics discuss about the GDP, inflation, unemployment, monetary policy, fiscal policy. 

 

Here is one page that explain the summary

http://www.investopedia.com/ask/answers/110.asp

 

Mahmoud Zaher Tarakji
by Mahmoud Zaher Tarakji , مدير , أوال جاليري

Microeconomics of the total components, and its ( micro)  scope limited and for small company

sorry i haven,t more 

Ma'en AL-Rawabdeh
by Ma'en AL-Rawabdeh , General Accountant , Tornado Group

Macroeconomic : is a collection of theories that address the economic system entirely, and try to interpret the reasons that lead to the change in the national output of goods and services, and research into the causes of the change in the unemployment and inflation rates and savings. microeconomics: cares about the individual behavior of the facility in the knowledge production that maximizes profits for facility size. And is also interested in consumer behavior to know how the distribution of spending among various commodities so that achieves maximum satisfaction of the limits of his income ( how the distribution of income between consumption and savings).

Deleted user
by Deleted user

It's not my field , i'll let the answer for the specialests .......... Thank you  for invitation 

Stefanos Sampatakakis
by Stefanos Sampatakakis , Head of Health Sector Coordination , General Secretarial of Governmental Coordination

I am already covered by the experts' opinions already stated. Thank you for the invitation.

Deleted user
by Deleted user

Macro economics deals with and focuses on issues such as GDP, Inflation, Repo Rates, Employment Rates in a country. Governments, depending on their economic goals in these areas will develop and implement policy to manage these issues.

Micro economics deals with such issues as demand and supply, prices and busines creation, entrepreneurship, and industrial development. 

Macro economics ca be equated to strategy, whereas micro economics can be looked at as the execution of strategy Through business 

Ashraf Hamed
by Ashraf Hamed , Financial Manager , Wazni for Jewelry Manufacturing and Sales

  • The Macroeconomic is like you are taking a total picture of the whole economy. Like employment, inflation and government policies that can affect the whole economy of the country.
  • But the Micro economic is such small pictures of determinant segment of the market economically. It shows how supply and demand interact in individual markets for goods or services.

Muhammad Khan
by Muhammad Khan , General Manager Operations , QFAWS ENGINEERING (PVT) LTD

As it is obvious from the words itself that, Macro=Big, Micro=Small.

Micro economics deals with the supply and demand of markets on individual basis, whereas macro economics deals with the supply and demand of the whole country.

Ashraf E. Mahmoud (PhD)
by Ashraf E. Mahmoud (PhD) , University Lecturer, Freelancer Consultant and Trainer for Int'l Business & Banking TF. , FreeLancer

Thanks for invitation;

Macro - Economics: is concerned with the economic factors and relationship on the governmental's or national scale.

Micro - Economics : Is concerned with the economic factors and relationship on the individuals or enterprises' / organizations' scale.

Ahmed Taha
by Ahmed Taha , Digital Director , Home of Performance

one is system and the other is a snap shot 

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