Identify the differences between macroeconomics and microeconomics

Macroeconomics studies the overall economy and looks how government and countries in general can make decisions that affect the overall economy. Microeconomics on the other hand looks at specific markets such as the market for cars and how individuals and firms interact and make decisions. In microeconomics we make less assumptions and the models tend to line up with reality more than in macroeconomics because it is hard to model an overall market economy.

Economics:You will likely end up taking both introductory microeconomics and macroeconomics is you are getting a degree in any business related major. This is because it is important to understand the theory behind how decisions are made and how the economy works.