Difference between the Micro Economics and Macro Economics

What is the difference between Micro economics and Macro economics?

Hello guys, we are here to learn the difference of Micro and Macro economics. Below I have explained in brief. Just go through it and finally you will come to know the main difference between them.

Micro Economics:-

  • It deals with an individual's economic behavior.
  • It deals with the pricing of a particular commodity in an industry.
  • It deals with the income of a particular set of people.
  • Study of micro economics is important for resource utilization, public finance, and for taking business decisions.
  • The concepts of micro-economics are independent concepts.
  • The concepts were popularized by the famous Alfred Marshall.
  • These concepts have more theoretical value.

Macro Economics:-

  • It deals with aggregate economic behavior of the people in general.
  • It deals with the general price level in the economy, National income accounting, etc.
  • Study of macro economics is important for formulation of economic policy of the whole nation.
  • The concept of macro economics are interdependent on one another.
  • The concepts were popularized by the famous Lord J.M. Keynes.
  • These concepts have more practical value.

So by this we completed the difference between Micro economics and Macro economics.

Thank you.


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