Difference between macro and micro economicsMaddali Swetha
Paper presentation made by Maddali Laxmi Swetha, MBA (HR)
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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
The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
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.
Economics, Law of Demand, Determinants of Demand, increase and Decrease in Demand, Extension and Contraction in Demand, Exception of Demand, Assumptions of Demand
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.
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
Liquidity Preference Theory suggests that investors demand higher interest rates or additional premiums for medium or long-term maturities and investments. Simply put, interest rates directly indicate the price of the money.
https://efinancemanagement.com/investment-decisions/liquidity-preference-theory
National income: concept, methods, Importance and challengesPankaj Bhaydiya
In this presentation you are going to know about the concept of national income, circular flow of income under four sector economy its methods, Importance and the challenges faced by government in calculation of national income
Price elasticity is a crucial concept in economicsSAINATHYADAV11
Price elasticity is a crucial concept in economics that measures the responsiveness of quantity demanded or supplied to changes in price. Understanding price elasticity is vital for businesses, policymakers, and economists as it helps predict the impact of price changes on market behavior and revenue. Here's why price elasticity is important:
1. Determining Revenue Impact: Price elasticity helps businesses predict how changes in price will affect their total revenue. If demand is elastic (responsive to price changes), decreasing prices may lead to higher revenue. Conversely, if demand is inelastic (insensitive to price changes), increasing prices may result in higher revenue.
2. Optimizing Pricing Strategies: Businesses can use price elasticity to determine the optimal pricing strategy for their products or services. By understanding the price sensitivity of consumers, companies can set prices that maximize profitability and market share.
3. Forecasting Market Behavior: Price elasticity provides insights into consumer behavior and market dynamics. It helps forecast how changes in prices, incomes, or competitor actions will impact demand and market equilibrium.
4. Policy Decision Making: Policymakers use price elasticity to design and evaluate economic policies, such as taxation, subsidies, and regulations. Understanding the elasticity of supply and demand helps assess the effectiveness and unintended consequences of policy interventions.
There are five cases of price elasticity of demand
A. Perfectly elastic demand:
When small change in price leads to an infinitely large change is quantity demand, it is called perfectly or infinitely elastic demand. In this case E=∞. Sometimes, even there is no change in the price, the demand changes in huge quantity. In case of perfect elastic demand, the demand for a commodity changes even though there is no change in price. This elasticity is very rarely found in practice. We can see a straight line demand curve parallel to the X axis
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (1000 − 100)/100 /(10 − 10)/10 = ∞
The demand curve is horizontal straight line. It shows the at Rs. 10 price any quantity is demanded and if price increases, the consumer will not purchase the commodity.
B. Perfectly Inelastic Demand
A commodity is said to have perfectly inelastic demand, when even a large change in price of the commodity causes no change in the quantity demanded. The elasticity coefficient of perfectly in elastic demand is Ep = 0.
The shape of the demand curve for perfectly inelastic is vertical as shown below.
Price Demand
10 100
20 100
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (100 − 100)/100 /(20 − 10)/10 = 0
When price increases from Rs. 10 to Rs.20, the quantity demanded remains the same. In other words the response of demand to a change in Price is nil. In this case ‗E‘=0.
C. Relatively elastic demand:
Demand changes more than proportionately to a change in price. i.e. a small change in price leads to
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.
The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.
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.
Economics, Law of Demand, Determinants of Demand, increase and Decrease in Demand, Extension and Contraction in Demand, Exception of Demand, Assumptions of Demand
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.
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
Liquidity Preference Theory suggests that investors demand higher interest rates or additional premiums for medium or long-term maturities and investments. Simply put, interest rates directly indicate the price of the money.
https://efinancemanagement.com/investment-decisions/liquidity-preference-theory
National income: concept, methods, Importance and challengesPankaj Bhaydiya
In this presentation you are going to know about the concept of national income, circular flow of income under four sector economy its methods, Importance and the challenges faced by government in calculation of national income
Price elasticity is a crucial concept in economicsSAINATHYADAV11
Price elasticity is a crucial concept in economics that measures the responsiveness of quantity demanded or supplied to changes in price. Understanding price elasticity is vital for businesses, policymakers, and economists as it helps predict the impact of price changes on market behavior and revenue. Here's why price elasticity is important:
1. Determining Revenue Impact: Price elasticity helps businesses predict how changes in price will affect their total revenue. If demand is elastic (responsive to price changes), decreasing prices may lead to higher revenue. Conversely, if demand is inelastic (insensitive to price changes), increasing prices may result in higher revenue.
2. Optimizing Pricing Strategies: Businesses can use price elasticity to determine the optimal pricing strategy for their products or services. By understanding the price sensitivity of consumers, companies can set prices that maximize profitability and market share.
3. Forecasting Market Behavior: Price elasticity provides insights into consumer behavior and market dynamics. It helps forecast how changes in prices, incomes, or competitor actions will impact demand and market equilibrium.
4. Policy Decision Making: Policymakers use price elasticity to design and evaluate economic policies, such as taxation, subsidies, and regulations. Understanding the elasticity of supply and demand helps assess the effectiveness and unintended consequences of policy interventions.
There are five cases of price elasticity of demand
A. Perfectly elastic demand:
When small change in price leads to an infinitely large change is quantity demand, it is called perfectly or infinitely elastic demand. In this case E=∞. Sometimes, even there is no change in the price, the demand changes in huge quantity. In case of perfect elastic demand, the demand for a commodity changes even though there is no change in price. This elasticity is very rarely found in practice. We can see a straight line demand curve parallel to the X axis
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (1000 − 100)/100 /(10 − 10)/10 = ∞
The demand curve is horizontal straight line. It shows the at Rs. 10 price any quantity is demanded and if price increases, the consumer will not purchase the commodity.
B. Perfectly Inelastic Demand
A commodity is said to have perfectly inelastic demand, when even a large change in price of the commodity causes no change in the quantity demanded. The elasticity coefficient of perfectly in elastic demand is Ep = 0.
The shape of the demand curve for perfectly inelastic is vertical as shown below.
Price Demand
10 100
20 100
Ep = ((Q2 − Q1)/Q1) /((P2 − P1)/P1)
𝐸𝑝 = (100 − 100)/100 /(20 − 10)/10 = 0
When price increases from Rs. 10 to Rs.20, the quantity demanded remains the same. In other words the response of demand to a change in Price is nil. In this case ‗E‘=0.
C. Relatively elastic demand:
Demand changes more than proportionately to a change in price. i.e. a small change in price leads to
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.
Premier University
[B.B.A]
Course Teacher: Assistant Professor. Anupam Das
University of Chittagong
Course Title: Managerial Economic
Presentation Subject: Introduction to Managerial Economic
Semester: 7th Section: “A” Batch :22nd
Group Name: D’14
E-mail : mdsaimonchy@yahoo.com
𐫱 This file is especially for engineering students.
This is 'economics for engineers'.
I hope it will help you in your studies as well as university exams.😃
Flow in super critical state is an unstable type of flow. It has a tendency to transfer n to sub critical flow. Flow depth is small in a supercritical state. which increases suddenly while changing the subcritical state. This phenomenon sudden increase in depth of flow is called a HYDRAULIC JUMP.
The derivation of the equation of motion for various fluids is similar to the d derivation of Eular’s equation. However ,the tangential stresses arise during the motion of a real viscous fluid, must be considered
A sluice is a water channel that is controlled at its head by a gate (from the dutch word “sluis” ). For example, a millrace is a sluice that channels water towards a water mill. The terms “sluice gate” , "knife gate", and "slide gate" are used interchangeably in the water/wastewater control industry.
During its forward movement, the blade cuts the ground and the loosened earth collected in the body of scraper. When the scraper is fully loaded, it is raised above ground d taken to the site of dumping. The earth from the scarper is than taken out by opening the bottom of it and the earth is laid in layer of required thickness.
Pump is a mechanical device to increase the pressure energy of fluid. The pumps are used as water – handling device in construction projects. The water is required to handle for human consumption, drainage and dewatering. The liquid handled by the pumps may be water, oil, milk, sludge etc.
AN IMPLOSION IS AN EENT WHERE SOMETHING COLLAPS INWARD, BECAUSE THE EXTERNAL ATMOSPHERIC PRESSURE IS GREATER THAN THE INTERVAL PRESSURE. FOR EXAMPLE, IF YOU PUMPED THE AIR OUT OF A GLASS TUBE, IT MIGHT IMPLODE.
The hoisting is the lifting of the material against gravity and maybe done with a wide range of equipments from the small hand operated simple screw or hydraulic-jack to modern high powered cranes and elevators.
Stiffness method of structural analysisKaran Patel
This method is a powerful tool for analyzing indeterminate structures. One of its advantages over the flexibility method is that it is conducive to computer programming.
Stiffness method the unknowns are the joint displacements in the structure, which are automatically specified.
When rainwater falls on the ground, a small part of it is initially absorbed by the top thin layer of soil so as to replenish the soil moisture deficiency.
A building is provided with a drainage system to discharge effectively the sewage of the building into the public sewer. Domestic sewage from a building includes human excreta as well as discharge from the bathroom, kitchen, etc. and collected by building sewers and finally discharged into the public sewer.
Disasters natural or man-made can destroy lives and properties on a very large scale, often pushing nation, in the quest for progress, back by several decades, thus, efficient management of disasters, rather than more response to their occurrence has received increased attention in the country.
IMAGE INTERPRETATION TECHNIQUES of surveyKaran Patel
Image interpretation is the process of examining an aerial photo or digital remote sensing image and manually identifying the features in that image. This method can be highly reliable and a wide variety of features can be identified, such as riparian vegetation type and condition, and anthropogenic features
In engineering, deflection is the degree to which a structural element is displaced under a load. It may refer to an angle or a distance.
The deflection distance of a member under a load is directly related to the slope of the deflected shape of the member under that load, and can be calculated by integrating the function that mathematically describes the slope of the member under that load. Deflection can be calculated by standard formula (will only give the deflection of common beam configurations and load cases at discrete locations), or by methods such as virtual work, direct integration, Castigliano's method, Macaulay's method or the direct stiffness method, amongst others. The deflection of beam elements is usually calculated on the basis of the Euler–Bernoulli beam equation while that of a plate or shell element is calculated using plate or shell theory.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Delivering Micro-Credentials in Technical and Vocational Education and TrainingAG2 Design
Explore how micro-credentials are transforming Technical and Vocational Education and Training (TVET) with this comprehensive slide deck. Discover what micro-credentials are, their importance in TVET, the advantages they offer, and the insights from industry experts. Additionally, learn about the top software applications available for creating and managing micro-credentials. This presentation also includes valuable resources and a discussion on the future of these specialised certifications.
For more detailed information on delivering micro-credentials in TVET, visit this https://tvettrainer.com/delivering-micro-credentials-in-tvet/
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Digital Artifact 2 - Investigating Pavilion Designs
DIFFERENCE BETWEEN MACRO AND MICRO ECONOMICS
1. GANDHINAGAR INSTITUTE OF TECHNOLOGY
SUBJECT :- ENGINEERING ECONOMICS AND MANGEMENT
BRANCH :- CIVIL ENGINEERING
Prepared By :- ISTIYAK PATHAN 150123106020
CHIRAG FALIYA 150123106006
PATEL KARAN 150123106017
GUIDED BY :- PROF. PRASANT PANDYA
ACTIVE LEARNING ASSIGNMENT
DIFFERENCE BETWWEN MACRO AND MICRO
ECONOMICS
2. MICROECONMIC AND MACRO ECONOMY
MICROECONOMICS:- The micro means small, so it shouldn’t be surprising that
microeconomics is the study of small economic units. The field of microeconomics is concerned
with thing like:
Customer decision making and utility maximization
Firm production and profit maximization
Individual market equilibrium
Effects of government regulation on individual markets
Externalities and other market side effects
3. MACROECONOMICS:- Macroeconomics can be though of as the “big picture”
version of economics. Rather than analyzing individual market, macroeconomics focuses on
aggregate production and consumption in an economy. Some topics that macroeconomics
study are:
The effects of general taxes such as income and sales taxes on output prices
The causes of economics upswings and downturns
The effects of monetary and fiscal policy on economics health
How interest rates are determined
Why some economics grow faster than others
4. DIFFERENCE BETWEEN MICROECONOMICS
AND MACRO ECONOMIES
MACROECONOMIES MICROECONOMIES
It is the study of individual economic units
of an economy.
It deals with individual income, individual
prices and individual output ,etc.
Microeconomics consists of individual
entities.
It is used to determines methods of
improvement for individual business
entities.
It central problem is price determination
and allocation of resources.
It is study of economy as a whole and its
aggregate .
It deals with aggregate like national
income, general price level and national
output etc.
The foundation of macroeconomics is
microeconomics
It is used to determines an economy an
economy’s overall health, standard of
living, and needs for improvement.
Its central problem is determination of
level of income and employment.
5. Its main tools are demand and supply
of a particular commodity .
It helps to solve the central problem of
what, how and for whom to produce
in the economy.
It discusses how equilibrium of
consumer a produce or an industry is
attained.
Price is the main determinate of
microeconomics problem.
Example are :individual income,
individual saving, price determination
of a commodity, individual firm’s
output, consumer’s equilibrium,
opportunity cost etc.
Its main tools are aggregate demand
and aggregate supply of economy as a
whole.
it help to solve the central problem of
full employment of resources in the
economy.
It is concerned with the determination
of equilibrium level of income and
employment of the economy.
Income is the major determinate of
macro economics problem.
Example are : national income ,
national saving, general price level,
aggregate demand, aggregate supply,
poverty, unemployment, inflection etc.