(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.
Answer and Explanation:
(a) Microeconomics focuses on the study of the economic behavior of individuals, businesses, and particular markets. Macroeconomics deals more with...
See full answer below.
Become a member and unlock all Study Answers
Try it risk-free for 30 daysTry it risk-free
Ask a question
Our experts can answer your tough homework and study questions.Ask a question Ask a question
Learn more about this topic:
fromChapter 1 / Lesson 10