Microeconomics vs. Macroeconomics

Key Questions

• What are the key differences between macroeconomics and microeconommics?

  Answer:

  Microeconomics deals with a smaller scale than macroeconomics.

  Explanation:

  Microeconomics:
  Microeconomics is the study of the transactions of individuals of households (i.e. your family).

  Macroeconomics:
  Macroeconomics means the study of the transactions of whole economies (i.e. the USA).

  Therefore, the main difference is the scale on which they operate. Microeconomics is a tiny thing, an individual or household. Macroeconomics deals with whole nations.

  Emily · 1 · Oct 8 2015

• What is microeconomics?
• What are examples of microeconomics and macroeconomics?
• What are the core concepts in brief used in microeconomics?
• What is an example of microeconomics?
• What is an example of macroeconomics?
• What are the key differences between macroeconomics and microeconommics?