In brief, the difference is that micro-economists are wrong about specific things, while macro-economists are wrong about things in general.
Macro- and microeconomics, and their wide array of underlying concepts, have been the subject of a great deal of writings. The field of study is vast; here is a brief summary of what each covers:
Microeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. This means also taking into account taxes and regulations created by governments. Microeconomics focuses on supply and demand and other forces that determine price levels for specific companies in specific industry sectors. For example, microeconomics would look at how a specific company could maximize it's production and capacity so it could lower prices and better compete in its industry.
Macroeconomics, on the other hand, is the field of Economics that studies the behavior of the economy as a whole and not just on specific companies, but entire industries and economies. This looks at economy-wide phenomena such as Gross National Product (GDP) and how it is affected by changes in unemployment, national income, rate of growth, and price levels. For example, macroeconomics would look at how an increase/decrease in net exports would affect a nation's capital account or how GDP would be affected by unemployment rate.
While these two studies of economics appear to be different, they are actually interdependent and complement one another since there are many overlapping issues between the two fields. For example, increased inflation (macro effect) would cause the price of raw materials to increase for companies and in turn affect the end product's price charged to the public.
The bottom line is that microeconomics takes a bottoms-up approach to analyzing the economy while macroeconomics takes a top-down approach. Regardless, both micro- and macroeconomics provide fundamental tools for any finance professional and should be studied together in order to fully understand how companies operate and earn revenues and thus, how an entire economy is managed and sustained. x
What is the difference between a micro processor and a macro processor?
Difference between micro and macro marketing
Calling a macro loads the macro into memory, while executing the macro runs the macro.
Macro is big micro is small.
Macro is big micro is little
mirco= small macro= large
macro is bigger than micro
Macro economics is the study of an entire national economy, or an international economy. It is what is usually meant by the term economics. Micro economics is the application of economic theory to a smaller economic system such as a single family or business.
The difference between macro and micro decomposers is micro decomposers can't be seen by the naked eye while macro decomposers are big enough so they can be seen.
Ask Stephen short...he knows all ;)
The difference between micro and macro evolution is that micro evolution does not involve creation any new allele while macro evolution involves creation of the new alleles.
Macro economic is differ from micro economic because macro economic study as a whole economics but micro economic study only of an individual.
t s the difference between micro and macro process in the ecosystem?
ten difference of micro economics macro economics
bank how to changes in macro economic police
Yes, it is an economic issue and it is a macro economic indicator.
The same as the difference between huoses and oranges. Did you mean "macro" instead of "marco"?
micro is on a small scale and macro on a larger scale
A macro is the entire section of code, while a sub-routine is part of the macro.
the molecules required by our body in small quantity is kown as macro molecules
macro- and microeconomics courses (the "big picture" versus individual companies/persons)