Tuesday, July 3, 2007

Micro Vs Macro

There are two branches of economics

MicroEconomics - deals with individual economic units such as consumers, investors, business firms etc, and explains why and how these units make economic decisions

At some point of time in future, I would be able to explain, in microeconomic terms, as to why am I creating this blog instead of having slept. Its 2:48 am local time :-)

MacroEconomics - deals with aggregated economic units such as inflation, interest rates, national output etc.

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