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When studying economics, many economists break the subject down into two categories - Macroeconomics and Microeconomics. While our course covers topics in both of these areas, it is important that you understand the difference between these two categories.
I. Macroeconomics is a study of the entire economy of a nation or even the global economy. Macroeconomics is concerned with such items as national output, inflation, unemployment, taxes, and economic indicators that reflect the "health" of the national economy.
Examples of Macroeconomics topics that you may hear in the news include things such as: |
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The increase
in home sales across the nation is a national issue with an national
economic impact. The increase in wages of American workers is another
macroeconomics issue. Click each headline for more details.
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Consumer confidence soars to 31-year high, existing-home sales rise 6%. |
Economy roars in November, durable goods rebound too; Fed rate hike seen. |
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II. Microeconomics deals with the economics of individual businesses and specific markets. It also examines the economic behavior of individual people and households.
Examples of Microeconomics topics that you may hear in the news includes things such as: |
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(Click each headline for more details) |
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Entertainment giant's playground on Hong Kong island due to open in 2005 |
Candy maker issues second warning for its year-end earnings; cites slow sales. |
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