Difference between Micro and Macro Economics
Difference between Micro and Macro Economics Basis f or C omparison Micro economics Macro economics Meaning M icroeconomics deals with the individual u nits of an economy Macroeconomics deals with the aggregates of the economic system Deals with It deals with individual income, individual output, Individual price s It deals with aggregates, national income, employment, and general price level, etc. Major issue s Price determination and allocation of resources are the major issues National income , output, and employment are the major issues Method of study Partial equilibrium analysis It studies the equilibrium of a consumer, a firm, an industry, or a market. Slicing method General equilibrium analysis It deals with the equilibrium position of the ec...