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Micro Economics

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Microeconomics is generally the study of individuals and business decisions,
macroeconomics looks at higher up country and government decisions.Macroeconomics and
microeconomics, and their wide array of underlying concepts, have been the subject of a
great deal of writings. The field of study is vast; here is a brief summary of what each
covers:
Microeconomics is the study of decisions that people and businesses make regarding the
allocation of resources and prices of goods and services. This means also taking into
account taxes and regulations created by governments. Microeconomics focuses
on supply and demand and other forces that determine the price levels seen in the
economy. For example, microeconomics would look at how a specific company could
maximize it's production and capacity so it could lower prices and better compete in its
industry. (Find out more about microeconomics in Understanding Microeconomics.)
Macroeconomics, on the other hand, is the field of economics that studies the behavior of
the economy as a whole and not just on specific companies, but entire industries and
economies. This looks at economy-wide phenomena, such as Gross National Product (GDP)
and how it is affected by changes in unemployment, national income, rate of growth, and
price levels. For example, macroeconomics would look at how an increase/decrease in net
exports would affect a nation's capital account or how GDP would be affected
by unemployment rate. (To keep reading on this subject, see Macroeconomic Analysis.)
While these two studies of economics appear to be different, they are actually
interdependent and complement one another since there are many overlapping issues
between the two fields. For example, increased inflation (macro effect) would cause the
price of raw materials to increase for companies and in turn affect the end product's price
charged to the public.
The bottom line is that microeconomics takes a bottoms-up approach to analyzing the
economy while macroeconomics takes a top-down approach. Regardless, both micro- and
macroeconomics provide fundamental tools for any finance professional and should be
studied together in order to fully understand how companies operate and earnrevenues and
thus, how an entire economy is managed and sustained.

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IMPORTANCE OF STUDYING ECONOMICS
Economics is basically called the "QUEEN SUBJECT " of all subjects of social sciences . Economics
is one of the most useful of all sciences, because it make us aware of how thing are exchanged,
flourish, and survive within multiple markets. Not even that , it makes us aware of lots of facts which
we know earlier but have not figured out that how it implemented on ones life.
Economics is about choice and is at the heart of all decision making individuals, businesses and
governments are all faced with making choices in situations with resources and scarce.
Economics is valuable not only for the topics it studies, but also for its methods of analysis.
Economics provides you with the knowledge and insight necessary to understand the impact of
developments in business, society and the world economy. It enables you to understand the
decisions of households, firms and governments based on human behaviour, beliefs, structure,
constraints and need. The study of economics does help you to understand various aspects of
finance but Economics is also about choice, scarcity, opportunity, and the impact of decision making
on aspects of society. It is important to study economic because that way you learn how to use your
money when buying new stuff like cars, house, clothes, goods, etc. When you get more information
you also learn how money affect people in some way. For a lot of people money is everything and
stands above love, family, and friends, they haven't realized that money is also killing us by
becoming selfish and tearing family apart because of them working more hours than they should just
to earn more money.
DIFFERENT ECONOMISTS

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 Microeconomics is generally the study of individuals and business decisions, macroeconomics looks at higher up country and government decisions.Macroeconomics and microeconomics, and their wide array of underlying concepts, have been the subject of a great deal of writings. The field of study is vast; here is a brief summary of what each covers: Microeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. This means also taking into account taxes and regulations created by governments. Microeconomics focuses on supply and demand and other forces that determine the price levels seen in the economy. For example, microeconomics would look at how a specific company could maximize it's production and capacity so it could lower prices and better compete in its industry. (Find out more about microeconomics in Understanding Microeconomics.)  Macroeconomics, on the other hand, is the field of economics that studies the behavior of the economy as a whole and not just on specific companies, but entire industries and economies. This looks at economy-wide phenomena, such as Gross National Product (GDP) and how it is affected by changes in unemployment, national income, rate of growth, and price levels. For example, macroeconomics would look at how an increase/decrease in net exports would affect a nation's capital account or how GDP would be affected by unemployment rate. (To keep reading ...
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