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Michael Logan Microeconomics vs. Macroeconomics: An Overview Economics is divided into two categories: microeconomics and macroeconomics. Microeconomics is the study of individuals and.
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2. Micro economics The prefix 'micro' is derived from Greek word 'mikros', meaning small. "Micro economics studies the economic behaviour of individual economic units and individual economic variables.". The study of economic behaviour of the households, firms and industries forms the subject- matter of micro economics. 3.
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Basis Microeconomics Macroeconomics Meaning Microeconomics deals with the behaviour of individual economic units. Macroeconomics is the study of the economy as a whole. Tools Demand and Supply Aggregate Demand and Aggregate Supply Objective To determine the price of a commodity or factors of production. To determine the income and employment.
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Macro economic is the study of large part of the economy i.E., The whole economy. The study of economic behaviour of the economy as a whole & not the individual economic units of the economy. 12 MACRO ECONOMICS Limitations . It does not give the correct pictures of the working of the economy .
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Change in consumer income and the budget line If consumer income increases there will be an outward shift in the budget line as the purchasing power increases. Good Y Good X LOGO. 12. in price of a good and budget line Formula M= Pxx + Pyy m = money income allocated to consumption (after saving and borrowing) Px = the price of a specific good.
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2. Meaning & Definition of Microeconomics 1. Micro means small part of a thing. 2. It deals with small part of the whole economy. 3. It only studies about the individual consumer, individual producer, price of a single product, payment of single factors, etc. " Microeconomics consists of looking at the economy through a microscope, as it were, to see how the millions of cells in the body of.
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10. Macro economic analysis This looks at all goods and services produced in the economy. The macro diagram is looking at Real GDP (which is the total amount of output produced in the economy) instead of quantity. Instead of the price of a good, we are looking at the overall price level (PL) for the economy. Inflation measures the annual % change in the aggregate price level. Macro diagrams.
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Ch. 1 micro and macro economics Manish Purani. 40.7K views • 13 slides. Microeconomics: Introduction and basic concepts Pie GS. 89.5K views • 48 slides. vivek Thota. 17K views •. •. micro & macro economics - Download as a PDF or view online for free.
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3. Meaning Micro-Economics • Micro economics studies the decisions made by individual and business concerning the distribution of resources and prices of goods and services. Macro-Economics • Macroeconomics, studies the behavior of not only particular company or industries but whole economy.
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Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. E N D Presentation Transcript Micro vs. Macro Microeconomics: The study of how individual households and firms make decisions, interact with one another in markets.
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Reviews. Our feature-rich Microeconomics and Macroeconomics PPT template is the best pick to explain the two branches of economics, i.e., macroeconomics and microeconomics. Economists and educators can use these PowerPoint slides to demonstrate the difference between both branches. Entrepreneurs and business owners can use these slides to.
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Microeconomics: Introduction and basic concepts Pie GS. 89.5K views • 48 slides. 1. introduction to microeconomics Sanjay Thakur. 1.5K views • 20 slides. 2 introduction to microeconomics and macroeconomics Prem Raj Bhatta. 18.7K views • 11 slides. Micro and Macroeconomics - Download as a PDF or view online for free.
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2. Microeconomics and Macroeconomics terms were used by Ragnar Frish. Micro and Macro words are derived from Greek words Mikros and Makros. Micro means Small -Which studies Individual unit of the economy. Individual Consumer, Individual firms and small aggregates or groups of individual unit, industries and market. Macro means Large - Which analyze the economy as a whole.
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1) J. L. Hansen - "Macro economics is that branch of economics which considers the. relationship between large aggregates such as the volume of employment, total. amount of savings, investment, national income etc.". 2) Prof Carl Shapiro - "Macro economics deals with the functioning of the economy. as a whole.".
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10. "Comparing Risky Prospects" Lecture Slides (PDF) 11. "Critiques of Expected Utility" Lecture Slides (PDF) 12. Dynamic Choice. "Dynamic Choice and Time-Inconsistency" Lecture Slides (PDF) This section provides the schedule of lecture topics and the slides used for each session.