MICRO- & MACROECONOMICS

AND THE DIFFERENCES BEWTEEN THEM

By Victoria RockMacroeconomics

ECON224-1104B-22Prof. Hector MoralesNovember 27, 2011

Introduction

WELCOME

Microeconomics

The study of decisions people make.The allocation of resources and price of goodsTaxes and government regulationsSupply 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.

Examples of Both Phenomenon

MICROECONOMICS MACROECONOMICS

The Microeconomic decision I had to make.

A Macroeconomic event that has impacted my life.

Closing

MICROECONOMICS MACROECONOMICS

INCREASE OR DECREASE IN

TAXATION

BEHAVIOR OF FIRMS SUCH AS MONOPOLIES

PRICE CHANGES DUE TO SUPPLY AND DEMAND

DEPRESSION

INFLATION

UNEMPLOYMENT

A COUNTRY’S ECONOMICAL

GROWTH

Reference

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