What are the key differences between macroeconomics and microeconommics?

1 Answer
Emily
Oct 8, 2015

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.

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