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Micro-economics needs the help of Macro-economics.for example,the sale of a firm not only depends own it price but also the total purchasing power of the commodity.the value of profit or a firm depend on aggregate demand.national income and general price level.Similarly,the help of micro-economics is inevitable for macro-economics.For example,nation output and income are the sum the income of income of millions of individuals and numerous firms respectably.Hence,the theory of the study of individual units and aggregate are both equally important.To conclude in the words of P.A. Samuelson,"There is really no opposition between micro-economics and macro-economics.Both are absolutely vital.You are less than half-educated if you understand the one while being ignorant of the other.
Wiki User
∙ 12y ago
Wiki User
∙ 13y agoMacroeconomics uses a microeconomic foundation to make it analysis. Microeconomic theory often uses econometric data taken from macroeconomics to come up with theories of economic relationships.
Wiki User
∙ 11y agothey both are related as they guide us how to utilize our resources in good manner.
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Give the differences between micro and macro economics?
ten difference of micro economics macro economics
Macro economics and micro economics?
macro is a root for large, while micro is, of course, small
How does macro economics differ from micro economics?
Macro economic is differ from micro economic because macro economic study as a whole economics but micro economic study only of an individual.
Is inflation Macro or Micro economics?
MACRO
Is the relationship between the inflation rate and changes in the quantity of money macro or micro economics?
macro
Give the differences between micro and macro economics?
ten difference of micro economics macro economics
Macro economics and micro economics?
macro is a root for large, while micro is, of course, small
How does macro economics differ from micro economics?
Macro economic is differ from micro economic because macro economic study as a whole economics but micro economic study only of an individual.
Is inflation Macro or Micro economics?
MACRO
Is the relationship between the inflation rate and changes in the quantity of money macro or micro economics?
macro
What do you mean by macro and micro environment of business and economy?
In simple words micro macro economics can be explained as- " What holds good for micro economics may not hold good for macro economics' Eg: Savings.
What are the basic division in economics?
micro economics and macro economics
What are the scopes of macro economics?
same as of micro economics
Give the 2 division of economics?
Micro economics and macro economics
Who is first use a word of Micro economics?
Who is first use a words of micro economics & macro economics
What is the similarities between micro and macro economics?
There are quite a number of similarities between micro and macro economics. Both are studies of different facets of the economy with micro-economy analyzing mechanism in the market and macroeconomics looking at government policies in the market among other things.
Micro economics and macro economics were coined by?
Ragner Frisch.
