Assignment 1

It is time to assess your proficiency on course learning outcome #1: Differentiate between microeconomics and macroeconomics.

Briefly stated, microeconomics is about individual decision makers, whereas macroeconomics is about the aggregate effect of all decision makers. However, this simple distinction does not adequately describe how macroeconomics differs from microeconomics.

For this assignment you need to identify and describe three differences between macroeconomics and microeconomics.

For each of the three examples, give one of the following to help illustrate the difference between microeconomics and macroeconomics:

·         the type of question that an economist might ask in macroeconomics as opposed to microeconomics

·         the data that might be collected by a macroeconomist

·         the type of decision that must be made at a macroeconomic level

You will be identifying and describing three differences between Macroeconomics and Microeconomics

After addressing this requirement, you are to choose one of the following (the type of question an economist might ask; the data that might be collected; OR the type of decision that must be made at a macroeconomic level) and apply it to each of your three examples

A minimum of 200 words is required in answering and supporting each question for a total of 600 words. Please ensure you are providing support for your answers and clearly demonstrating a full understanding of the concepts in the assignment!

It is a violation of The Academic Dishonesty policy to copy and paste any information from any source. You may also NOT copy and paste and provide a citation; all work is expected to be fully paraphrased and written in your own words so that you demonstrate a clear understanding of the material. Violation of this policy will result in an F for the assignment and submission of your assignment to the University for investigation

In addition, it should be written well using correct grammar. Please submit your responses in a cohesive essay via a Microsoft Word document here.

Some helpful resources!

Investopedia.com. What's the difference between microeconomics and macroeconomics?  http://www.investopedia.com/ask/answers/110.asp

Economics Help. Difference Between Microeconomics and Macroeconomics.

http://www.economicshelp.org/blog/6796/economics/difference-between-microeconomics-and-macroeconomics/