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Session 1 and 2

The document discusses the differences between microeconomic and macroeconomic issues. Microeconomic issues deal with individual agents' choices about consumption, labor supply, and production. Macroeconomic issues examine aggregate outcomes and consider questions about national savings, currency exchange rates, and employment impacts of policy changes. The document provides examples of typical macroeconomic issues that relate to government policies and their potential effects on the overall economy.

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Kinshuk Shekhar
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27 views2 pages

Session 1 and 2

The document discusses the differences between microeconomic and macroeconomic issues. Microeconomic issues deal with individual agents' choices about consumption, labor supply, and production. Macroeconomic issues examine aggregate outcomes and consider questions about national savings, currency exchange rates, and employment impacts of policy changes. The document provides examples of typical macroeconomic issues that relate to government policies and their potential effects on the overall economy.

Uploaded by

Kinshuk Shekhar
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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Microeconomic issues

• How much will a consumer spend on food?


• How much time a worker is willing to work?
• How much output will a firm produce?
• Which quality to produce?

– choices made by Individual agents

Macroeconomic issues
• How much income will the country save?
• What is the appropriate exchange rate between currencies?
• What will happen to employment if taxes are raised?

– Aggregate outcome of all the decisions made by individual agents.


Some typical macroeconomic issues:

• Should the government raise income tax?


• Should the budget deficit be reduced?
• Should the interest rate be cut down?
• Should the exchange rate be fixed?
• Should the import tariff be withdrawn?
• Should European Union subsidise its agriculture or adopt a common
currency?
• Is consumerism good for the economy?

……………. Changes in the society or government policies


– domestic and international

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