What are the key differences between macroeconomics and microeconommics?

1 Answer
Oct 8, 2015

Microeconomics deals with a smaller scale than macroeconomics.


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

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.