This document summarizes the key differences between microeconomics and macroeconomics. Microeconomics examines individual markets and consumer behavior, while macroeconomics looks at aggregate variables for the whole economy. Specifically, microeconomics is concerned with supply and demand in individual markets, while macroeconomics focuses on monetary/fiscal policy and economic growth at the national level. A key difference is that microeconomics assumes markets will quickly reach equilibrium, but macroeconomics recognizes economies may remain in disequilibrium like during recessions.
Microeconomics: Introduction and basic conceptsPie GS
1.1 Meaning and definition of microeconomics
1.2 Basic microeconomic issues: scarcity, efficiency and
alternative uses of resources
1.3 Differences between microeconomics and macroeconomics
1.4 Opportunity cost, normative economics and positive
economics
1.5 Importance of microeconomics in business decision making
1.6 Economic models: meaning and use of economic models
Difference between macro and micro economicsMaddali Swetha
Paper presentation made by Maddali Laxmi Swetha, MBA (HR)
Maddali Swetha Blog - http://maddaliswetha.blogspot.com/ https://in.linkedin.com/in/maddali-swetha-a0a424a6
https://twitter.com/maddali_swetha
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What is profit , types of profit, theories of profitarvind saini
in this report, it discuss about major role of profit , its types and various theories of profit to understand the principles of accounting. and how it helps to understand the various techniques to understand it
Microeconomics: Introduction and basic conceptsPie GS
1.1 Meaning and definition of microeconomics
1.2 Basic microeconomic issues: scarcity, efficiency and
alternative uses of resources
1.3 Differences between microeconomics and macroeconomics
1.4 Opportunity cost, normative economics and positive
economics
1.5 Importance of microeconomics in business decision making
1.6 Economic models: meaning and use of economic models
Difference between macro and micro economicsMaddali Swetha
Paper presentation made by Maddali Laxmi Swetha, MBA (HR)
Maddali Swetha Blog - http://maddaliswetha.blogspot.com/ https://in.linkedin.com/in/maddali-swetha-a0a424a6
https://twitter.com/maddali_swetha
E-Mail ID: maddali_swetha@yahoo.com - Feedback
What is profit , types of profit, theories of profitarvind saini
in this report, it discuss about major role of profit , its types and various theories of profit to understand the principles of accounting. and how it helps to understand the various techniques to understand it
For full text article go to : https://www.educorporatebridge.com/economics/macro-vs-micro-economics/
This article on Macro vs Micro Economics attempts to analyze the differences between the two most important branches of Economics viz. Macro and Microeconomics and helps understand various economic issues and its effects on investors.
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Economics comes from the Greek word oikonomia which means household chores. Economics is considered a field of social science. Economics is relevant because it is part of everybody’s life. As a science, Economics is related to other sciences.
In Macroeconomics Income and Employment are interchangeable terms, since in the short-run National income depends on the total volume of employment or economic activity in the country. As income and employment are synonymous the employment theory is also called income theory.
It should be clear to readers that the classical economists did not formulate any specific theory of employment as such. They only laid down certain postulates which subsequently developed as a theory.
For full text article go to : https://www.educorporatebridge.com/economics/macro-vs-micro-economics/
This article on Macro vs Micro Economics attempts to analyze the differences between the two most important branches of Economics viz. Macro and Microeconomics and helps understand various economic issues and its effects on investors.
Let's face it. At some point of time in our school or college, we face a typically difficult assignment with a tricky problem, a complex equation or a case study on an obscure concept. Do you wish you had access to a qualified tutor who could help you at that moment?
Our homework assistance service, which is available 24/7 in subjects across disciplines like Finance, Accounting, Management, Engineering, Sciences, Math and ELA, is precisely the answer to your wish.
Our tutors provide you with a step-by-step working of the solution to your homework problems so that you understand the solution and the approach better. Aiming for school/college success with top grades just got easier with Online Assignment help
It has been our constant endeavor to match the best tutoring with the most affordable price. Our tutors are highly qualified, have long tutoring experience in their respective subjects and have passed our stringent screening criteria. This makes them some of the best in the tutoring industry.
We are proud to have moved over 100,000 customers closer to their cherished goals. We would be glad to be a part of your journey too.
• Our Homework help covers detailed solutions to Assignment problems, Case studies, Project Work, Research paper writing, Essay writing and review help.
Website: www.onlineassignment.net
Mail: homework@onlineassignment.net
Live Chat Available 24*7
Regards
Online Assignment
Economics comes from the Greek word oikonomia which means household chores. Economics is considered a field of social science. Economics is relevant because it is part of everybody’s life. As a science, Economics is related to other sciences.
In Macroeconomics Income and Employment are interchangeable terms, since in the short-run National income depends on the total volume of employment or economic activity in the country. As income and employment are synonymous the employment theory is also called income theory.
It should be clear to readers that the classical economists did not formulate any specific theory of employment as such. They only laid down certain postulates which subsequently developed as a theory.
Study of Economics _ Microeconomics and Macroeconomics.pdfabhishekverma489234
To get a deep understanding of the various concepts of Economics, a student should be able to clearly distinguish between the concepts of Macroeconomics and Microeconomics. In this blog, we have tried our best to make it simple for you to understand the concepts of economics and the difference between microeconomics and macroeconomics.
Meaning of Economics, history & scope of economics. Features and Importance of Microeconomics, Features and Importance of Macroeconomics, Distinguish between Micro and macro economics. Std 12th Economics
Similar to Difference between micro & Macro Economics (20)
A transducer is a device which transforms a non-electricalphysical quantity (i.e. temperature, sound or light) into anelectrical signal (i.e. voltage, current, capacity…)
In a generating station the generator and transformer are the most expensive equipments and hence it is desirable to employ protective system to isolate the faulty equipment as quickly as possible to keep the healthy section in normal operation and to ensure uninterruptable power supply.
Design of Magnetic Circuit for Synchronous MachineAbhishek Choksi
Mmf required to drive flux in the magnetic circuit of a synchronous machine can be calculated as by the governing terms:-
Mmf for air gap
Mmf for armature teeth
Mmf for core
Mmf for poles
Mmf for yoke
Total field Mmf at no load
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Load flow studies or Power flow studies is the analysis of a power system in normal steady state condition.
Load flow studies basically comprises of the determination of
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Digital control is used to create a square wave, a signal switched between on and off.
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Synthesis of unsymmetrical phasors from their symmetrical componentsAbhishek Choksi
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But sometimes certain situation occurs like fault or short circuit which make the system to be unstable.
Single phase equivalent system method of analysis cannot be applied to such system.
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The increased demand of electrical energy can be met by building big power stations at favourable places where fuel (coal or gas) or water energy is available in abundance.
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The current in the armature winding is known as the armature current.
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Nowadays many communication, digital entertainment, portable devices, are controlled by them.
A designer should know what types of components he needs, ways to reduce production costs and product reliable.
Principle of regenerative braking and chopper configurationAbhishek Choksi
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Final project report on grocery store management system..pdfKamal Acharya
In today’s fast-changing business environment, it’s extremely important to be able to respond to client needs in the most effective and timely manner. If your customers wish to see your business online and have instant access to your products or services.
Online Grocery Store is an e-commerce website, which retails various grocery products. This project allows viewing various products available enables registered users to purchase desired products instantly using Paytm, UPI payment processor (Instant Pay) and also can place order by using Cash on Delivery (Pay Later) option. This project provides an easy access to Administrators and Managers to view orders placed using Pay Later and Instant Pay options.
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About
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
• Remote control: Parallel or serial interface.
• Compatible with MAFI CCR system.
• Compatible with IDM8000 CCR.
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
• Easy in configuration using DIP switches.
Technical Specifications
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
Key Features
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
• Remote control: Parallel or serial interface
• Compatible with MAFI CCR system
• Copatiable with IDM8000 CCR
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
Application
• Remote control: Parallel or serial interface.
• Compatible with MAFI CCR system.
• Compatible with IDM8000 CCR.
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
• Easy in configuration using DIP switches.
CFD Simulation of By-pass Flow in a HRSG module by R&R Consult.pptxR&R Consult
CFD analysis is incredibly effective at solving mysteries and improving the performance of complex systems!
Here's a great example: At a large natural gas-fired power plant, where they use waste heat to generate steam and energy, they were puzzled that their boiler wasn't producing as much steam as expected.
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R&R Consult conducted a CFD analysis, which revealed that 6.3% of the flue gas was bypassing the boiler tubes without transferring heat. The analysis also showed that the flue gas was instead being directed along the sides of the boiler and between the modules that were supposed to capture the heat. This was the cause of the reduced performance.
Based on our results, Tetra Engineering installed covering plates to reduce the bypass flow. This improved the boiler's performance and increased electricity production.
It is always satisfying when we can help solve complex challenges like this. Do your systems also need a check-up or optimization? Give us a call!
Work done in cooperation with James Malloy and David Moelling from Tetra Engineering.
More examples of our work https://www.r-r-consult.dk/en/cases-en/
Welcome to WIPAC Monthly the magazine brought to you by the LinkedIn Group Water Industry Process Automation & Control.
In this month's edition, along with this month's industry news to celebrate the 13 years since the group was created we have articles including
A case study of the used of Advanced Process Control at the Wastewater Treatment works at Lleida in Spain
A look back on an article on smart wastewater networks in order to see how the industry has measured up in the interim around the adoption of Digital Transformation in the Water Industry.
5. Introduction
Microeconomics is the study of particular markets, and
segments of the economy. It looks at issues such as
consumer behaviour, individual labour markets, and the
theory of firms.
Macro economics is the study of the whole economy. It
looks at ‘aggregate’ variables, such as aggregate demand,
national output and inflation.
6. Concerned
-Microeconomics
Micro economics is concerned with:
Supply and demand in individual markets
Individual consumer behaviour. e.g.
Consumer choice theory
Individual labour markets – e.g. demand for labour,
wage determination
Externalities arising from production and consumption.
7. Concerned-
Macroeconomics
Macro economics is concerned with
Monetary / fiscal policy. e.g. what effect does interest rates have on
whole economy?
Reasons for inflation, and unemployment
Economic Growth
International trade and globalisation
Reasons for differences in living standards and economic growth
between countries.
Government borrowing
8. Moving from Micro to
Macro
If we look at a simple supply and demand diagram for
motor cars. Microeconomics is concerned with issues
such as the impact of an increase in demand for cars.
This micro economic analysis shows that the increased
demand leads to higher price, and higher quantity.
9.
10. Macro economic analysis
This looks at all goods and services produced in the economy.
The macro diagram is looking at Real GDP (which is the total
amount of output produced in the economy) instead of quantity.
Instead of the price of a good, we are looking at the overall price
level (PL) for the economy. Inflation measures the annual % change
in the aggregate price level.
Macro diagrams are based on the same principles as micro
diagrams, we just look at Real GDP rather than Quantity and
Inflation rather than Price Level (PL)
11.
12. We can also consider differences between micro and
macro economics. I will summarise the main differences
here:
Small segment of economy vs whole aggregate economy.
Microeconomics works on principle that markets soon
create equilibrium. In macro economics, the economy
may be in a state of disequilibrium (boom or recession)
for a longer period
13. There is little debate about the basic principles of micro-
economics. Macro economics is more contentious. There
are different schools of macro economics offering
different explanations (e.g. Keynesian, Monetarist,
Austrian, Real Business cycle e.t.c).
Macro economics places greater emphasis on empirical
data and trying to explain it. Micro economics tends to
work from theory
14. Differences Between
Microeconomic
andMacroeconomics
The maindifference is that micro looks at small segments, and
macro looks at the whole economy. But, there are other differences.
Equilibrium – Disequilibrium
Classical economic analysis assumes that markets return to
equilibrium (S=D). If demand increases faster than supply, this
causes price to rise and firms respond by increasing supply. For a
long time, it was assumed that the macro economy behaved in the
same way as micro economic analysis. Before, the 1930s, there
wasn’t really a separate branch of economics called
macroeconomics
15. Great Depression and Birth of Macroeconomics
In the 1930s, economies were clearly not in equilibrium. There
was high unemployment, output was below capacity, and
there was a state of disequilbrium Classical economics
didn’t really have an explanation for this dis-equilibrium,
which from a micro perspective, shouldn’t occur.
In 1936, J.M.Keynes produced his The General Theory of
Employment, Interest and Money, this examined why the
depression was lasting so long. It examined why we can be in
a state of disequilibrium in the macro economy`
16. Keynes observed that we can have a negative output gap
(disequilibrium in the macroeconomy) for a prolonged time.
In other words, microeconomic principles of markets clearing,
didn’t necessarily apply to macro economics. Keynes wasn’t
the only economist to investigate this new branch of
economics.
For example, Iriving Fisher examined the role of debt
deflation in explaining the great depression. But, Keynes’
theory was the most wide ranging explanation, and played a
large role in creating the new branch of macro-economics.
17. Since 1936, macroeconomics developed as a separate
strand within economics. There have been competing
explanations for issues such as inflation, recessions and
economic growth.
18. Similarities between
Microeconomics and
Macroeconomics
Although it is convenient to split up economics into two
branches – microeconomics and macroeconomics, it is to
some extent an artificial divide.
Micro principles used in macro economics. If you study
impact of devaluation, you are likely to use same
economic principles, such as the elasticity of demand to
changes in price.
19. Micro effects macro economics and vice versa. If we see a rise
in oil prices, this will have a significant impact on cost-push
inflation. If technology reduces costs, this enables faster
economic growth.
Blurring of distinction. If house prices rise, this is a micro
economic effect for housing market. But, housing market is so
influential that it could also be considered a macro-economic
variable, and will influence monetary policy.
There have been efforts to use computer models of household
behaviour to predict impact on macro economy.