Different between Micro and Macro Economics

Micro Economics:

1. Micro Economics studies the problems of individual economic units such as a firm, an industry, a consumer etc.

2. Micro Economic studies the problems of price determination, resource allocation etc.

3. While formulating economic theories, Micro Economics assumes that other things remain constant.

4. The main determinant of Micro Economics is price.

Macro Economics:

1. Macro Economics studies economic problems relating to an economy viz., National Income, Total Savings etc.

2. Macro Economics studies the problems of economic growth, employment and income determination etc.

3. In Micro Economics economic variables are mutually inter-related independently.

4. In Micro Economics economic variables are mutually inter-related independently.