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By Victoria Rock Macroeconomics ECON224-1104B-22 Prof. Hector Morales November 27, 2011

This document provides an overview of microeconomics and macroeconomics. Microeconomics is defined as the study of individual decision making and the allocation of resources at the individual level. Macroeconomics examines the behavior of the overall economy, including metrics like gross national product, unemployment, and economic growth at the national level. The document outlines some key differences between microeconomics, which focuses on supply and demand and prices, and macroeconomics, which analyzes unemployment, inflation, and taxation at the aggregate level.

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30 views9 pages

By Victoria Rock Macroeconomics ECON224-1104B-22 Prof. Hector Morales November 27, 2011

This document provides an overview of microeconomics and macroeconomics. Microeconomics is defined as the study of individual decision making and the allocation of resources at the individual level. Macroeconomics examines the behavior of the overall economy, including metrics like gross national product, unemployment, and economic growth at the national level. The document outlines some key differences between microeconomics, which focuses on supply and demand and prices, and macroeconomics, which analyzes unemployment, inflation, and taxation at the aggregate level.

Uploaded by

usmcdoc113597
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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By Victoria Rock

Macroeconomics
ECON224-1104B-22
Prof. Hector Morales
November 27, 2011
Microeconomics
The study of
decisions people
make.
The allocation of
resources and price
of goods
Taxes and
government
regulations
Supply and
demand
macroeconomics
Study the behavior
of the economy as a
whole.
Looks into the
Gross National
Product.
Unemployment
and national income
is affected.
Rate of growth and
price levels.
MICROECONOMICS MACROECONOMICS
MICROECONOMICS MACROECONOMICS

DEPRESSION
INCREASE OR
DECREASE IN
TAXATION

INFLATION

PRICE CHANGES
DUE TO SUPPLY
AND DEMAND
UNEMPLOYMENT

BEHAVIOR OF
FIRMS SUCH AS A COUNTRY’S
MONOPOLIES ECONOMICAL
GROWTH
Arnold C. Harberger.2009. Microeconomics. The Concise Encyclopedia of Economics. Library of
Economics and Liberty. Retrieved November 26,2011 from:
http://www.econlib.org/library/Enc/Microeconomics.html

Mike Moffatt. What is Microeconomics?.Economics.About.com. Retrieved November 25, 2011 from:


http://www.economics.about.com/cs/studentresources/f/microeconomics.htm

Krugman & Wells. 2009.Economics. Chapter 22: Macroeconomics: The Big Picture. New York. Worth
Publishers. pp 569-587

Krugman & Wells. 2009. Economics. Chapter 23: Tracking the Macroeconomic. New York. Worth
Publishers. pp 589-614

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