Problem 39

Introduction

Economics is broadly divided into two parts, microeconomics and macroeconomcs. Microeconomics deals in the working of individual agents within the economy, for example, businesses, workers, and households whereas; macroeconomics deals with the economy as a whole. Macroeconomics discusses the broad issues such as the unemployement, inflation, deflation, economic growth, imports and exports, and government deficits. Microeconomics and macroeconomics are not different subjects, but instead complementary perspectives on the overall subject of the economy.