Module 1 Preliminary Assignment.docx - Running head MODULE 1 PRELIMINARY ASSIGNMENT Module 1 Preliminary Assignment Saja Altaie CCCOnline 1 2 MODULE 1

Module 1 Preliminary Assignment.docx - Running head MODULE...

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Running head: MODULE 1 PRELIMINARY ASSIGNMENT 1 Module 1 Preliminary Assignment Saja Altaie CCCOnline
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2 MODULE 1 PRELIMINARY ASSIGNMENT Module 1 Preliminary Assignment 1. In a brief paragraph, contrast microeconomics and macroeconomics. (5 points) Microeconomics can generally be described as the study of economics at an individual, group or even organization level (Baumol & Blinder, 2015). Majorly, microeconomics usually focus on the issues that affects organizations and individuals. For instance, the study of demand and supply for a certain product, the impacts of certain regulations on a business, and even the study of the production that levels of an individual or a business all are studied under microeconomics. On the other hand, macroeconomics can be preciously be described as the study of the national economy as a whole. Essentially, macroeconomics usually focuses on all the issues that affect the economy as a whole (Johnson, 2017). Mainly, macroeconomics focuses on the effects of exports and imports to the economy, effects of Gross Domestic Product (GDP) on the economy, and even
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Unformatted text preview: the rates of unemployment in the economy. In managerial economics, macroeconomics usually play a vital role. Additionally. Macroeconomics provides greater assistance of organizations managers to be able to predict future organizations trends. 2. Categorize each of the following issues as a microeconomics issue, a macroeconomic issue or not an economic issue. (5 points) A. The national unemployment rate Macroeconomics B. The decision of a worker to work overtime or not Microeconomics C. The rate of growth of the money supply Macroeconomics 3 MODULE 1 PRELIMINARY ASSIGNMENT D. The national government’s budget deficit Macroeconomics E. The production cost of a firm to produce their product Microeconomics 4 MODULE 1 PRELIMINARY ASSIGNMENT References Baumol, W. J., & Blinder, A. S. (2015). Microeconomics: Principles and policy . Nelson Education. Johnson, H. G. (2017). Macroeconomics and monetary theory . Routledge....
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  • Fall '17
  • asad khan

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