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microeconomics vs macroeconomics
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PIYUSH RANJAN
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HELLO EVERYONE ,
HELLO EVERYONE , 
WELCOME TO MY PADLET IN THIS PADLET YOU WILL LEARN ABOUT THE MICROECONOMICS  VS MICROECONOMICS. I HAVE RESEARCHED THE CONTENT FROM DIFFERENT WEBSITES AND YOU WILL FIND VIDEOS AND IMAGES WHICH WILL HELP YOU LEARN IT BETTER.
websites 2
websites 2
in the search of economic article i found this article very  interesting and it shows how the canadian economy going up and down it depicts the macroeconomics works in a group. interestingly it also shows the banking system in the country. in this article the data shows the growth of the canadian economic growth.
WEBSITE1
WEBSITE1
IN THIS WEBSITE YOU WILL FIND THE PRINCIPLE OF THE MACROECONOMICS VS MICROECONOMICS YOU WILL LEARN ABOUT THE DEFINITION AND THE PROSPECTS IN THE MICRO AND MACROECONOMICS. I CHOSE THIS WEBSITE BECAUSE THIS GIVE SIMPLE AND UNDERSTANDABLE . IT PROVIDE BASIC UNDERSTANDING TO EVRYONE.

# data[].attributes.body
WELCOME TO MY PADLET IN THIS PADLET YOU WILL LEARN ABOUT THE MICROECONOMICS  VS MICROECONOMICS. I HAVE RESEARCHED THE CONTENT FROM DIFFERENT WEBSITES AND YOU WILL FIND VIDEOS AND IMAGES WHICH WILL HELP YOU LEARN IT BETTER.

# data[].attributes.body
in the search of economic article i found this article very interesting and it shows how the canadian economy going up and down it depicts the macroeconomics works in a group. interestingly it also shows the banking system in the country. in this article the data shows the growth of the canadian economic growth.

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The Canadian economy grew 0.7 per cent in January in the face of severe public health restrictions, and appears to have grown almost as much in February, Statistics Canada said Wednesday.

January's reading for real gross domestic product compared with a gain of 0.1 per cent in December, and topped the data agency's preliminary estimate for the month of 0.5 per cent.

It was the ninth consecutive monthly increase since the plunge in the economy last year at the start of the pandemic in March and April when workers were ordered home and non-essential businesses forced to close.

Almost one year later, Statistics Canada said that total economic activity was still about three per cent below the February level last year, before the pandemic began.

The agency's preliminary estimate for February this year showed growth of 0.5 per cent for the month.

TD Bank senior economist Sri Thanabalasingam said January was a solid month for the Canadian economy, despite the tighter public health restrictions in Ontario and Quebec, reflecting what he called the "growing resilience of the economy to the pandemic."

"With Statistics Canada projecting continued growth in February, the first quarter of 2021 is shaping out to be a very good one for Canada," Thanabalasingam said.

The Bank of Canada recently revised its expectations for the first quarter of the year, saying earlier this month that the economy should overall grow, rather than contract as it expected in January.

With early indicators suggesting improved business and consumer confidence for March, total annualized growth for the quarter appears to be on track to hit or exceed five per cent, RBC economist Claire Fan wrote in a note.

The shadow hanging over the economy now is COVID-19 and its variants that are pushing up caseloads across the country, placing pressure on provinces to tighten restrictions once again.

BMO chief economist Douglas Porter said the better-than-expected economic picture in January, even as the country shed more than 200,000 jobs, suggests sectors will be able to manage through any third-wave lockdowns or restrictions in the coming weeks.

But he cautioned that some sectors are going to feel the pain more than others. Arts and entertainment is half of what it was one year ago, he said, while hotels and restaurants are about 40 per cent below pre-pandemic activity.

Large sectors like construction and manufacturing are down about one per cent from a year ago, Porter said.

"This is the ultimate definition of this so called K-shaped recovery, where the industries at the upper end of the K are basically almost all the way back to where they were before the pandemic began, and those at the bottom of the K are desperately weak," Porter said in an interview.

"If there's good news, when things are eventually able to reopen again, you're gonna see a spectacular bounce in those sectors that remain 40 or 50 per cent below pre pandemic levels."

How could an economic rebound impact your bottom line? A financial expert weighs in

The growth in January came as goods-producing industries rose 1.5 per cent, while services-producing industries added 0.4 per cent.

Statistics Canada said the wholesale trade sector rose 3.9 per cent in January, more than offsetting a 1.5 per cent contraction in December.

The manufacturing sector grew 1.9 per cent in January to offset a decline of 0.7 per cent in December, while the mining, quarrying, and oil and gas extraction sector grew 2.7 per cent, its fifth consecutive month of growth.

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Canadian economy grew 0.7% in January, beating expectations

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The Canadian economy grew 0.7 per cent in January in the face of severe public health restrictions, and appears to have grown almost as much in February, Statistics Canada said Wednesday. January's reading for real gross domestic product compared with a gain of 0.1 per cent in December, and topped the data agency's preliminary estimate for the month of 0.5 per cent.

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IN THIS WEBSITE YOU WILL FIND THE PRINCIPLE OF THE MACROECONOMICS VS MICROECONOMICS YOU WILL LEARN ABOUT THE DEFINITION AND THE PROSPECTS IN THE MICRO AND MACROECONOMICS. I CHOSE THIS WEBSITE BECAUSE THIS GIVE SIMPLE AND UNDERSTANDABLE . IT PROVIDE BASIC UNDERSTANDING TO EVRYONE.

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Learning Objectives

By the end of this section, you will be able to:

Describe microeconomics

Describe macroeconomics

Contrast monetary policy and fiscal policy

Economics is concerned with the well-being of all people, including those with jobs and those without jobs, as well as those with high incomes and those with low incomes. Economics acknowledges that production of useful goods and services can create problems of environmental pollution. It explores the question of how investing in education helps to develop workers' skills. It probes questions like how to tell when big businesses or big labor unions are operating in a way that benefits society as a whole and when they are operating in a way that benefits their owners or members at the expense of others. It looks at how government spending, taxes, and regulations affect decisions about production and consumption.

It should be clear by now that economics covers a lot of ground. That ground can be divided into two parts: Microeconomics focuses on the actions of individual agents within the economy, like households, workers, and businesses; Macroeconomics looks at the economy as a whole. It focuses on broad issues such as growth of production, the number of unemployed people, the inflationary increase in prices, government deficits, and levels of exports and imports. Microeconomics and macroeconomics are not separate subjects, but rather complementary perspectives on the overall subject of the economy.

To understand why both microeconomic and macroeconomic perspectives are useful, consider the problem of studying a biological ecosystem like a lake. One person who sets out to study the lake might focus on specific topics: certain kinds of algae or plant life; the characteristics of particular fish or snails; or the trees surrounding the lake. Another person might take an overall view and instead consider the entire ecosystem of the lake from top to bottom; what eats what, how the system stays in a rough balance, and what environmental stresses affect this balance. Both approaches are useful, and both examine the same lake, but the viewpoints are different. In a similar way, both microeconomics and macroeconomics study the same economy, but each has a different viewpoint.

Whether you are looking at lakes or economics, the micro and the macro insights should blend with each other. In studying a lake, the micro insights about particular plants and animals help to understand the overall food chain, while the macro insights about the overall food chain help to explain the environment in which individual plants and animals live.

In economics, the micro decisions of individual businesses are influenced by whether the macroeconomy is healthy; for example, firms will be more likely to hire workers if the overall economy is growing. In turn, the performance of the macroeconomy ultimately depends on the microeconomic decisions made by individual households and businesses.

What determines how households and individuals spend their budgets? What combination of goods and services will best fit their needs and wants, given the budget they have to spend? How do people decide whether to work, and if so, whether to work full time or part time? How do people decide how much to save for the future, or whether they should borrow to spend beyond their current means?

What determines the products, and how many of each, a firm will produce and sell? What determines what prices a firm will charge? What determines how a firm will produce its products? What determines how many workers it will hire? How will a firm finance its business? When will a firm decide to expand, downsize, or even close? In the microeconomic part of this book, we will learn about the theory of consumer behavior and the theory of the firm.

What determines the level of economic activity in a society? In other words, what determines how many goods and services a nation actually produces? What determines how many jobs are available in an economy? What determines a nation's standard of living? What causes the economy to speed up or slow down? What causes firms to hire more workers or to lay workers off? Finally, what causes the economy to grow over the long term?

An economy's macroeconomic health can be defined by a number of goals: growth in the standard of living, low unemployment, and low inflation, to name the most important. How can macroeconomic policy be used to pursue these goals? Monetary policy, which involves policies that affect bank lending, interest rates, and financial capital markets, is conducted by a nation's central bank. For the United States, this is the Federal Reserve. Fiscal policy, which involves government spending and taxes, is determined by a nation's legislative body. For the United States, this is the Congress and the executive branch, which originates the federal budget. These are the main tools the government has to work with. Americans tend to expect that government can fix whatever economic problems we encounter, but to what extent is that expectation realistic? These are just some of the issues that will be explored in the macroeconomic chapters of this book.

Microeconomics and macroeconomics are two different perspectives on the economy. The microeconomic perspective focuses on parts of the economy: individuals, firms, and industries. The macroeconomic perspective looks at the economy as a whole, focusing on goals like growth in the standard of living, unemployment, and inflation. Macroeconomics has two types of policies for pursuing these goals: monetary policy and fiscal policy.

Glossary

fiscal policy

economic policies that involve government spending and taxes

macroeconomics

the branch of economics that focuses on broad issues such as growth, unemployment, inflation, and trade balance.

microeconomics

the branch of economics that focuses on actions of particular agents within the economy, like households, workers, and business firms

monetary policy

policy that involves altering the level of interest rates, the availability of credit in the economy, and the extent of borrowing

Solutions
Answers to Self-Check Questions
There are many physical systems that would work, for example, the study of planets (micro) in the solar system (macro), or solar systems (micro) in the galaxy (macro).

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By the end of this section, you will be able to: Describe microeconomics Describe macroeconomics Contrast monetary policy and fiscal policy Economics is concerned with the well-being of all people, including those with jobs and those without jobs, as well as those with high incomes and those with low incomes.