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What are microeconomics and macroeconomics which was distributed by? Economists talk about microeconomics and mac nomics. Microeconomics deals with people, like you and me. and private businesses. It looks at the economic decisions people make every day. It examines how families manage their household budgets. Microeconomics also deals with companies small or large-and how they run ther business. Macroeconomics which was distributed by, on the other hand, looks at the economy of a country and of the whole world. Any economist will tell you, though, that microeconomics and macroeconomics which was distributed by are closely related. All of our daily microeconomic declsions have an effect on the wider world around us. Another way to look at the sclence of economics to ask, what's it good for? Economists don't all agree on the answer to this question. Some practise positive economics. They study economic data and try to explain the behaviour of the economy. They also try to guess economic changes before they happen. Others practise normative economics. They suggest how to improve the economy. Economists say the positive, this is how it is. Normative economists say we should So what do economists do? Mainly, they do three things: collect data, create economic models and formulate theorles. Data collection can Include facts and figures about almost anything, from birth rates to coffee production. Economic models show relationships between these different data. For example, the relationship between the money people earn and unemployment. From this Information. economists try to make theories which explain why the economy works the way it does.
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