Discuss difference between macroeconomics and microeconomics

Reference no: EM133686474

Assignment: Government Principles of Macroeconomics PPT

Length: 10 to 15 slides.

Macroeconomics is the study of an economy as a whole. For instance, when studying macroeconomics, researchers look at how certain factors affect the overall economy, especially when it comes to government influences. These factors can include everything from unemployment to interest rates to international trade. Because there are so many factors influencing the success and failure of an overall economy, there are plenty of topics to research and write about.

Choose one topic from the followingfour choices:

I. Macroeconomics vs. Microeconomics

Discuss the differences between macroeconomics and microeconomics. While macroeconomics looks at how an economy performs as a whole, microeconomics focuses on supply and demand when it comes to individual companies, industries and people. For this topic, outline all of the differences between the two and also describe how they complement each other.

II. Macroeconomics in Unemployment

Explore the facets of this issue, including the various types of unemployment, including real wage unemployment, frictional unemployment, cyclical unemployment, geographical unemployment, structural unemployment and casual unemployment. Research each type of unemployment and discuss what causes unemployment and governmentpolicies that affect unemployment.

III. Macroeconomic Equilibrium

Discuss Macroeconomic equilibrium. Macroeconomic equilibrium happens when aggregate demand intersects with aggregate supply. Research what aggregate demand and aggregate supply are and how they play a role in macroeconomic equilibrium. In addition, discover how this intersection affects economic growth in an economy.

IV. Macroeconomics in International Trade

Because international trade is vital to thedevelopment of a country, this topic will help you discover what makes some countries thrive and others fail. Include information about "absolute advantage," which refers to companiesthat can produce goods for lower costs than companies in other countries. Also includeinformation about balance of payment, a type of transactions record in international trade.

Reference no: EM133686474

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