Micro Economics

  1. The evolution of microeconomics took place earlier than macroeconomics
  2. It deals with an individual's economic behavior.
  3. It is a branch of economics, which studies individual economic variables like demand, supply, price
  4. It has a very narrow scope e. an individual, a market, etc.
  5. Demand, supply, market forms relate to microeconomics.
  6. It is helpful in analysis of an individual economics unit like firm.
  7. Theory of demand, theory of production, price determination theory , develop from microeconomics.
  8. The concepts of microeconomics are independent concepts.
  9. These concepts have more theoretical value.
  10. The concepts were popularized by the famous Alfred Marshall.
  11. Worm’s eye view/ Microscopic view
  12. Method of Slicing
  13. It is a mortal concept
  14. Simple
  15. Price Theory

Macro Economics

  1. It evolved only after the publication of keynes' General theory of employment, interest and money.
  2. It deals with aggregate economic behavior of the people in general.
  3. It is a branch of economics which studies aggregate economic variables, like aggregate demand, aggregate supply, price level etc.
  4. It has a very wide scope e. a country.
  5. Aggregate demand, aggregate supply, national income relate to macro economics.
  6. It is helpful for analyzing the level of employment, income, economic growth etc.
  7. Theory of national income, theory of employment, theory of money, theory of general price level develop from macro economics.
  8. The concepts of macro economics are interdependent on one another.
  9. These concepts have more practical value.
  10. The concepts were popularized by the famous Lord M. Keynes.
  11. Bird’s eye view
  12. Method of Lumping
  13. It is an immortal concept
  14. Complex
  15. Income theory