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Macroeconomics and Microeconomics
macro economics
the contribution of macroeconomics to microeconomics
Micro means small and macro means large. Accordingly microeconomics is the study of small parts of the economy whereas macroeconomics is the study of aggregated parts or whole of economy.
Microeconomics is literally "small" economics, which typically concentrates on the interrelatedness of single markets and firms. Macroeconomics is "big" economics and concentrates on the economy as a whole, international trade, etc.
Macroeconomics and Microeconomics
macro economics
the contribution of macroeconomics to microeconomics
micro economics is that branch of economics which study about individuals, households and firms whereas macro economics is a study of whole economy.
Micro means small and macro means large. Accordingly microeconomics is the study of small parts of the economy whereas macroeconomics is the study of aggregated parts or whole of economy.
Microeconomics is literally "small" economics, which typically concentrates on the interrelatedness of single markets and firms. Macroeconomics is "big" economics and concentrates on the economy as a whole, international trade, etc.
Aristotle is generally considered the forefather of economics in general and he pursued microeconomic ideas, mostly. It is more likely microeconomics evolved first because individuals tend to analyse their own behaviours and optimise them - this is the assumption of rationality.
macro- and microeconomics courses (the "big picture" versus individual companies/persons)
Who is first use a words of micro economics & macro economics
Ragnar Frisch, Norwegian Economist, coined the terms 'micro' and 'macro' economics for the first time. He was the first Economics Nobel prize winner in 1969.
You can think of microeconomics as a study of the "small" economy. So you're looking supply and demand for individual firms or individual markets for goods and services. Macro is "big" economics, or the study of whole markets. For example, micro would look at consumer choice and the market for specific goods, while macro would ask how fiscal policy would affect exchange rates.
Microeconomics is that branch of economics analysis which studies the economics actions and behavior of individual units such as individual customer individual firms etc ; on the other hand macroeconomics deals with the economics actions and behavior of not a single particular unit - but the whole concept combined together.