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en:microeconomics-definition [2018/09/13 14:18] federico [Examples of Direct Applications of Microeconomics in Real Business (not in academia)] |
en:microeconomics-definition [2018/09/13 14:19] federico [Microeconomics vs Macroeconomics] |
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| A primary difference between macroeconomics and microeconomics is that while microeconomics focuses on units like individuals and families, Macroeconomics, instead, studies the behavior of economic aggregates, like GDP the GPD and Inflation. | A primary difference between macroeconomics and microeconomics is that while microeconomics focuses on units like individuals and families, Macroeconomics, instead, studies the behavior of economic aggregates, like GDP the GPD and Inflation. | ||
| - | Macroeconomic models can use microeconomic variables or submodels, because some macroeconomic variables can be modeled using the behavior of microeconomic variables. For example, the aggregate consumption can be modeled using an aggregation of an individual consumption function that represents the average consumer. | + | Macroeconomic models can use [[en:microeconomic-variables|microeconomic variables]] or submodels, because some macroeconomic variables can be modeled using the behavior of microeconomic variables. For example, the aggregate consumption can be modeled using an aggregation of an individual consumption function that represents the average consumer. |