Macroeconomics is the area of economics that examines the economy broadly and deals with variables that have an impact on the entire national, regional, or global economy. Microeconomics focuses on particular entities like enterprises, homes, and individuals and examines the economy on a micro-scale.
Macroeconomics is a discipline of economics that examines an economy's overall performance, structure, behavior, and decision-making rather than just specific markets. This covers the local, regional, and international economy. In order to understand how the entire economy operates, as well as the relationships between such variables as national income, output, consumption, unemployment, inflation, savings, and investment, international trade, and international finance, macroeconomics entails the study of aggregated indicators such as GDP, unemployment rates, and price indices.
Contrarily, microeconomics is the area of economics that focuses primarily on how individual agents' behaviors—such as those of businesses and consumers—determine the prices and quantities in particular marketplaces. Analyzing market processes that determine relative pricing for different goods and services as well as how scarce resources are distributed among various uses is one of the objectives of microeconomics.
General equilibrium, markets with asymmetric information, decision under uncertainty, and economic applications of game theory are important areas of research in microeconomics.
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