Reference no: EM132429097

You need to read the PPT and watch some videos, understand the knowledge and write a writing assignment

Question 1: Then answer the discussion: What are the main differences between micro and macro economic perspectives? Why do they matter? (please, make sure to follow the discussion guidelines provided in the syllabus).

• Here is the requirement about the disscussion: Interaction and participation are very important. Given the structure of the course, one cannot learn if one does no actively engage in discussions. For the discussion sessions students are expected to make at least two entries - one in response to the questions provided in the prompt (discussion threat) and one in response to an entry made by a colleague. Each entry should be a minimum of 250 words in length. Hence, between the two entries - 500 words in total.

Here is a disscussion you should reply:

( Anna Nguyen )

• Microeconomics generally deals with individual businesses and consumers in a market. It deals with the understanding of the natural forces of supply and demand in a free market, production capabilities, and the costs of production. More specifically, microeconomics deals with the individual units and decisions that go into a product or service. Macroeconomics deals with the economy on a national or global level. This can include establishing policies to protect the economy, taxes, and trading with other countries. More specifically, macroeconomics deals with large scale units and decisions that can affect a product or service.

• I believe that the study of microeconomics and macroeconomics is a matter of importance since they help to understand the characteristics and measurements within economics. This would assist in better Information in how the economy functions and determine future decisions for a product or service for a business. On a macroeconomic level it helps the government with the overall economy. It can also help the government to understand the health of an economy and to prevent or mitigate any potential hazards such as a recession. Tariffs and embargoes are tools that can also be used by the government to protect the economy, whether that be for security purposes or consumer protection. On a microeconomic level, it helps businesses to determine pricing for goods and services and helps to make better decisions and dealing with competition. Micro and macroeconomics can also help investors, for when they understand the characteristics, measurements, and behaviors of an individual product or market, they can better predict the outcome.