Microeconomics and Macroeconomics

ll 🙏🏻 नमस्ते 🙏🏻 ll

अभी तक hamne Economics aur उसके structure ko समझा l Aaj ham Economics ke दो categories ko detail में discuss करेंगे i.e. microeconomics and macroeconomics. They are actually interdependent and complement one another.

🔅 Microeconomics

Case 1: – One day there Vineet 👦 visited one Veno Daily Needs store 🛒 where he bought peanuts 🥜 and jaggery then he gave money or the price of products to the store owner and settled down his transaction.

From the above case, हमने देखा Vineet as a consumer peanuts और jaggery ki demand Karta hai उसके बदले Veno Daily Needs Store as a supplier or provider उस demand ko paise ke बदलने में fulfill (Supply) karta है l Iss case me products ya consumer goods ki price fix होती है l Let’s see the second case.

Case 2: – One day Vineet 👦 visited the nearest vegetable shop and he purchased Tomatoes 🍅 for Rs. 50 per kg. Kuch mahine bad Vineet फिर उसी vegetable shop ko visit karta है aur Rs. 30 per kg me tomatoes 🍅 ko purchase करता है l But this time he confused 🤷 why does the price of Onion drop? So, Vineet same question vegetable shop owner ko पूछता है l तब response me owner explain karta hai, 4 महीने पहले tomatoes 🍅 ki supply काफी kam thi aur ab काफी jada hai इसलिए price me changes हुए l

From the above case, हमें यह pata chalta hai that when supply is less then the price of tomatoes 🍅 rises, and when supply is more then the price of tomatoes 🍅 falls. Same microeconomics individual जैसे कि individual consumer aur supplier ki study करता है l Microeconomics focuses on supply and demand and other forces that determine price levels in the economy. Microeconomics human choices, decisions और allocation of resources ko understand karne ki कोशिश करता है l For example, microeconomics examines how a company maximizes its production and capacity.

Microeconomics के kuch principles niche mention किए हैं l
1) Demand, Supply, and Equilibrium: – Prices are determined by the law of supply and demand (as we saw some examples through the above cases). Like case 1, suppliers offer some price demanded by consumers known as Perfectly Competitive Market.
2) Costs of Production: – According to this theory, the price of goods or services is determined by the cost of the resources used during production.
3) Labor 👩‍🔧 Economics: – This principle looks at workers and employers and tries to understand patterns of wages, employment, and income.
4) Production Theory: – यह principle goods और services ko kaise produce या manufacture किया जाना चाहिए uski study करती है l
5) Theory of Economic Welfare

So from the above explanation, we have to understand that microeconomics studies at the micro-level i.e. individual level rather than aggregate. Microeconomics flow from a set of laws and theorems, rather than beginning with empirical study (practical or aggregate study).

🔅 Macroeconomics

Macroeconomics, on the other hand, studies the behavior of a country and its policy’s impact on the whole economy. Macroeconomics focuses on the aggregate study of demand and supply जैसे, Demand and Supply for tomatoes 🍅 or any vegetable 🥗 for the whole country, GDP (Gross Domestic Study) of country and how it is affected by changes in unemployment, national income, rates of growth 📈 and price levels. Government of India 🇮🇳 economic aur fiscal policy ko formulates करने में macroeconomics pe rely करती है l Johne Maynard Keynes को founder of macroeconomics bhi kaha jata है, as he initiated the use of monetary aggregates to study 📓 broad phenomena.

Macroeconomics kuch important question ko answer karne ki कोशिश karta hai jaise, “What should the rate of inflation be?” or “What stimulates economic growth?” or much more question regarding the aggregate study. Macroeconomics analyzes how an increase or decrease in net exports impacts a nation’s capital account. The following are the fields covered by macroeconomics: –

1) Theory of income, output, and employment with its two constituents, namely, the theory of consumption function, the theory of investment function, and the theory of business cycles or economic fluctuations.
2) Macro theory of distribution dealing with the long-run growth 📈 of income, output, and employment.
3) Theory of Prices with its constituents of the theories of inflation, deflation, and depression.
4) Macro theory of distribution dealing with the relative shares of wages and profits in the total national income.

So, हमने अभी microeconomics aur macroeconomics ke bare me apne concept clear kiye अब ham दोनों की short me comparison ⚖️ करते हैं l

• Microeconomics studies individuals and business decision, which macroeconomics countries ke द्वारा दिए गए decisions ko analyze करता है l
• Microeconomics focuses on supply and demand, and other forces that determine price levels, making it a bottom-up approach while macroeconomics takes a top-down approach and looks at the economy as a whole, trying to determine its course and nature.
• Investors can use microeconomics in their investment decisions, while macroeconomics is an analytical tool 🔧 mainly used to craft economic and fiscal policy.

Microeconomics aur macroeconomics ki separate study ham आने वाले articles me जरूर करेंगे l Aapko yah concept samaj me aaya hoga ऐसे hope करता हूं l Aapke iss concept ke bareme kya views hai हमें जरूर बताएं l तब तक Happy Reading……..

ll 🙏🏻 धन्यवाद 🙏🏻 ll

-j₹k, p$m.