Micro and Macroeconomics (1 Viewer)

[elliottjohnson]

Hi,
Can anyone please simplify explain the difference in simple terms?
thanks
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[SeCKSiiMiNh]

macro is dealing with the economy as a whole - i.e. unemployment, inflation, aggregates, booms, or even the world economy
micro - individuals, firms and households

 

[babysnow]

macro - affects all sectors of the economy
micro - affects one sector or industry, e.g. the financial sector only or the external sector only

 

[elliottjohnson]

k great thanks.

 

[Need_Help]

as stated above, also the 2 main macro polices in australia are fiscal (ie budget) and monetary (interest rates). by influencing these, they affect the economy as a whole