Microeconomics › Section A · Welcome to economics › Topic A.2
Microeconomics and macroeconomics
Economics studies one economy, but through two lenses. Microeconomics zooms in on individual households, workers and firms; macroeconomics zooms out to whole-economy questions like jobs, inflation and growth. Knowing which lens a question needs is the first skill of the subject.
In this topic
- One economy, two lenses
- What microeconomics asks
- What macroeconomics asks
- The forest and the trees
- The lenses feed each other
- Worked example: sorting the headlines
- The goals of macro policy
- Monetary policy
- Fiscal policy
- Worked example: an interest rate reaches a bakery's books
- Common mistakes to avoid
- Key takeaways
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