Micro Economics:
Micro economics is the study of individuals, households and firms' behavior in
decision making and allocation of resources.
Macro
Economics: Macro Economics is the branch of economics that
studies the behavior and performance of an economy as a whole.
Subject
|
Microeconomics
|
Macroeconomic
|
Nature
|
It deals with small or individual
Economic issues or problem.
|
It deals with large or overall economic
issues or problem.
|
Founder
|
Founder of microeconomics is Adam
Smith.
|
Founder of macroeconomics is J. M.
Keynes.
|
Meaning
|
Micro means small.
|
Macro means large.
|
Strategies
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It has no strategies to maintain.
|
It maintains two strategies such as
Fiscal policy and Monetary policy.
|
Demand
and Supply
|
It discusses individual market demand
and supply.
|
It discusses aggregate demand and
supply.
|
Equilibrium
system
|
It follows Partial equilibrium
analysis.
|
It follows General equilibrium
analysis.
|
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