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(a) What are the differences between the study of Micro Economics and Macro Economics? (b) How...

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(a) What are the differences between the study of Micro Economics and Macro Economics?

(b) How are they inter-related with regard to the drafting of economic policies to remain current and relevant to the global economic environment?

Micro vs Macro in Economics:

The two main fields of economic study are microeconomics and macroeconomics. In essence, microeconomics is the study of economics on a small and specific scale, while macroeconomics takes a much more broad approach.

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(a) Microeconomics focuses on the study of the economic behavior of individuals, businesses, and particular markets. Macroeconomics deals more with...

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Microeconomics vs. Macroeconomics

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Chapter 1 / Lesson 10
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