AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Microeconomics and Macroeconomics: Concepts and Historical Development
This chapter discusses the difference between microeconomics and macroeconomics and their historical development. It explores the focus of microeconomics on individual markets and supply and demand, while macroeconomics examines the behavior of the economy as a whole. The chapter also touches on the impact of events like the Great Depression and the financial crisis on the perception and understanding of economics.