Author(s): Bournakis Guanqing
Economics, the study of how individuals and societies manage their limited resources to satisfy their unlimited wants, is often divided into two main branches: microeconomics and macroeconomics. These two perspectives provide distinct lenses through which we analyze economic behavior and outcomes at different levels of aggregation. While microeconomics examines the behavior of individual agents and specific markets, macroeconomics focuses on the overall performance and behavior of an economy as a whole. Let's delve into the key concepts and differences between these two perspectives.