Micro and Macro economics are distinguished on the following grounds:
Scope: Micro Economics studies in individual units so its scope is narrow. Macro Economics studies in aggregates, so its scope is wider.
Method of study: Micro economics follows slicing method as it studies individual unit Macro Economics follows lumping method as it studies in aggregates.
Economic Agents: In Micro Economics, each individual economic agent thinks about its own interest and **. In Macro Economics, economic agents are different among individual economic agents and their goal is to get maximum ** of a country.
Equilibrium: Micro economics studies the partial equilibrium in the country. Macro Economics studies the general equilibrium in the economy.
Domain: Micro economics consists of theories like consumer’* behaviour, production and cost Rent. Wages, Interest, etc.
Macro economics comprises of theory of income, output and employment. Consumption function, Investment function, Inflation, etc.
