If you're anything like me, you've heard the term “micro vs macro” many times over in order to better understand how the financial markets operate. While the phrase may seem like a good thing at first glance, micro vs macro economics can actually be quite confusing if you don't really understand what they're talking about.
Micro vs macroeconomics, more accurately, is where the term comes from. This is where one area of economics tries to explain all of the other aspects of that area of economics. It's an attempt by someone to say that something is so very simple and clear, it's not really even an economic concept, but rather a piece of the puzzle that has been missing.
Macro vs micro economics, on the other hand, are a little more complex. Here, you have two different areas of economics working together to help you understand the workings of the world around us. While there are plenty of people who prefer macro, those who prefer micro tend to believe that it's much more clear and simple than macro.
Some people argue that macro is much more complex than micro because while macro looks at the bigger picture and explains all the parts of the puzzle, micro only looks at the details and tries to make them make sense. This argument doesn't necessarily hold up, however, because micro doesn't just look at the minutest details of the world and try to make everything work together to create a bigger picture; it just looks at a whole bunch of small pieces, puts them together and then tries to make sense out of them.
So which one is right? If you want to know which one is better, then you need to understand micro versus macro economics first.
Microeconomics focuses more on the tiny details of things like wages and prices. The purpose of microeconomics is to try to make these things more visible so as to be able to see just how everything works. If you want to understand macroeconomics, then you should stick with macroeconomics.
Microeconomics is more or less a look at the minutest things in the world, and macroeconomics is more or less trying to see how the big picture looks when you take all the tiny details into consideration. When you look at the bigger picture, you'll see that all the small things really add up.
On the other hand, when you look at micro economics, you're more concerned with the minutest things in the world and the things that they're connected to. Microeconomics doesn't try to make the world make sense, it just tries to point out all the small things that it's connected to and how they work.
So, what is the real answer to this question? Micro vs macroeconomics?