Microeconomics studies the behavior of consumers and companies. Macroeconomics studies the economy as a whole and analyzes aggregates. Considering supply, demand, prices and costs, microeconomics analyzes the allocation of resources by individuals and companies, the former looking for utility and the latter seeking benefits, reaching various equilibrium situations. The variables that macroeconomics usually studies are the level of national income, consumption, savings, investment, inflation, exchange rate, etc.
Macroeconomics is linked to the name of John Maynard Keynes, whose famous 1936 book, The General Theory of Employment, Interest, and Money, is considered the starting point of this new industry. Keynes believed that market regulation, studied by microeconomics, did not occur on a macroeconomic scale, so markets did not work and macroeconomic policies were needed to address unemployment through measures that would stimulate global demand. Keynes's critics, for their part, tried to defend the correct functioning of markets and argued that the foundations of macroeconomics were no different from those of microeconomics. After all, a macro is made up of individual elements. If the concept of macroeconomics is still not clear to you and you need to do a task on it - ask essay help .
WHAT IS THE ECONOMIC CYCLE? ARE THEY ALL THE SAME?
The business cycle is the regular fluctuations in economic activity that theoretically have four repeating phases: growth, crisis, depression, and recovery.
There are many theories about the cycle, and some of them argue that its origin is not economic, since it is obvious that non-economic factors influence activities. Take, for example, meteorology, which has been extremely important for almost all of world economic history, as agriculture has been the most important sector of the economy for millennia. But the economy is also influenced by technological change, demographics, public health, expanding markets (let's think about the discovery of America) and, of course, politics (let's think about wars).
Among the theories that focus on purely economic causes of cycles, economists primarily focus on money and credit, savings and investment. There are no cycles of the same length, and there are various theories about how long they last: a Russian economist named Kondratyev even suggested the idea that the cycles are very long and talked about long waves with fluctuations lasting 50 years. Of course, this is all difficult to digest, and if we have not coped with the explanation , you can ask economics homework help from experts who know how to tell you in detail what you need on economics.