Division of Economics

Division of Economics

1. Microeconomics — deals with the economic behavior of individual units such as the consumers, firms and the owners of the factors of production. Such specific economic units constitute a very small segment of the whole economy. Their activities are presented and discussed in details.

2. Macroeconomics — deals with the economic behavior of the whole economy or its aggregates such as government, business and household. An aggregate is composed of individual units. The operations of the various aggregates and their inter­relationships are analyzed to provide a profile of the economy as a whole. Macroeconomics is concerned with the discussion of topics like gross national product, level of employment, national income, general level of prices, total expenditures, etc.


More by this Author

  • Limitations of Economic Methods

    It is true that economics uses scientific methods in gathering data, formulating theories or principles, and in making conclusions. However, there are limitations such as the biases and values of those who get the...


    > Elasticity and Consumer Behavior Based on the law of demand, buyers are willing and able to purchase more goods and services at lower prices than at higher prices. These are natural reactions or inclinations of...

  • Branches of Biology and Their Meaning

    Biology is the study of living organisms and there are many subfields of study under that umbrella. From anatomy to zoology, there are more than 30 different areas of study under biology.

Comments 9 comments

joshua 5 years ago

production, distribution, exchange, consumption, and public finance are the division of economics

jayr 5 years ago

can you place what is the major topics in economics ? i can't find here in Google .. thanks !

Ihesha is playing poker! 4 years ago

please explain

* Production




*public finance

clarice 4 years ago

i love economics!

PianoPrincess 3 years ago

MACROECONOMICS & MICROECONOMICS are the branches of economics my teacher told me that.

Jean 3 years ago

it's a branches not a division.

margie 3 years ago

tama sia macro n micro

mariel 2 years ago

macro and micro is not a divission of economics its a branches of oconomics

Ronald Degino 14 months ago

Economics is my life!without it I'm nothing:-)

    Sign in or sign up and post using a HubPages Network account.

    0 of 8192 characters used
    Post Comment

    No HTML is allowed in comments, but URLs will be hyperlinked. Comments are not for promoting your articles or other sites.

    Click to Rate This Article