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Microeconomics: Microeconomics studies the individuals and small economic decisions that impact the demand and supply of
goods and services by the entire economy.
It is about formulating an analysis of the market response of individuals for understanding the process of business
Following are the main phases of microeconomics:
• Demand, supply, and Equilibrium
• Measurement of Elasticity
• Perfect Competition
• Theory of Production
• Costs of production
• Consumer demands theory
• Welfare Economics
• Market Structure
Macroeconomics: Macroeconomics studies about the behavioral change of aggregate economies such as changes in employment
rate, gross domestic product, growth rate, Price levels, and National Income.
Following are the main phases of Microeconomics:
• Demand and Supply
• Output and Income
• Opportunity Cost
• Employment Rate
• Inflation and Deflation
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