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.

Related questions
See all questions in Microeconomics vs. Macroeconomics
Impact of this question
3478 views around the world
You can reuse this answer
Creative Commons License