This week in class we started to work on how to teach economics to our future students. We each got a question to research within the chapter in the text book. I chose the question, what is the difference between micro and macro economics. I chose this question because I learned about economics my senior year of high school and i really enjoyed learning about micro and macro economics. The difference between the two is typed below.
Microeconomics is the study of individual households, companies, and markets and how resources and prices combine to distribute wealth and products. It is based on what the price of something is now in order to figure out what the demand of the product is. The government regulates these businesses that monopolize the economics. Whereas Macroeconomics is the study of the big picture of the economy as a whole. it provides an overview of the conditions in an entire nation. It is based on the Gross national product (GNP) which is the value of all the goods and services produced in a nation in a year. unlike being regulated by the government this is regulated by person.
Below, is a video i found on youtube that explains micro and macro economics using images as well as words, so it is easier to understand.
Below, is a video i found on youtube that explains micro and macro economics using images as well as words, so it is easier to understand.
I really enjoyed listening to you present this entry of your blog! I never truly learned about economics and I never really knew the difference between microeconomics and macroeconomics. You were well educated on your topic when you presented and I feel as though I now have a better understanding! Thanks :)
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