Understanding the study of Economics
What is microeconomics?
The study of the individual parts of the economy, the household and the firm, how prices are determined and how prices determine the production, distribution and use of goods and services.
What is Macroeconomics?
The study of the sum total of economic activity, dealing with the issues of growth, inflation0 and unemployment and with national economic policies relating to these issues.
Let me assume that the study of economy is like looking at a forest. The government is the forest and the trees are either consumers or firms.Microeconomics is to look at the individual trees to analyze or understand the overall economic situation. Macroeconomics is to look at the whole forest from the airplane.
Microeconomics is close to our daily life – what we buy, how we spend, how much we get paid.
Macroeconomics is more like the nationwide information, which we hear from masmedia daily such as the decision or investment in......

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Title: Economy In Japan
Approximate Word Count: 740
Approximate Pages: 3 (250 words per double-spaced page)

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