Economics Macro and Micro Tutorial

Economics is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work.

The difference between micro and macro economics is simple. Microeconomics is the study of economics at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole. Microeconomics focuses on issues that affect individuals and companies.

The basic differences between “micro” and “macro” is that macro is on a large scale and cannot be observed while micro is on a very small scale and can be observed or identified. There are many macro and micro systems which have their own definitions, explanations, and differences