How do you guys think you did on the microeconomics and macroeconomics tests?
Answer:
Micro is far easier. It is the more simplistic approach to ideal sitiuations and the circumstances therefore. The basics of supply/demand and how markets function. Macro however, address external factors and many other issues that are not in the "perfect or ideal world" of micro.
Personally, I didn't find either extremely difficult but once you get into trade policies and international macro things become ...well slightly interesting. But I would agree I feel that Macro is more to absorb and deals with a great number of additional factors.
absoulutely mate...I am so stuck on classical model. With all those ii schedule, MDS, LR/SR theory..driving me mad.will be taking an exam soon...
I did great, never had a prob with econ. Seems to be logical common sense to me.
macro is undoubtly harder than micro. im great at micro but can do only reasonably well on macro topics. 1 very important thing to clarify the macro issues is to always remember the different views by keynes and monetarists.
monetarists: market is always perfect. from this u can derive couple of things:
-we are always at full employment. ie AS perfectly inelastic.
-coz we are at full employment, we cant promote employment by spending more, as this will create inflation.
-monetarists always turn to supply side policy.
-and as we are already at full employment, monetarists are obsessed with controlling inflation.
keynes: market is imperfect. wat we can derive:
-as it is imperfect, govt interventions are important to correct the imperfection
-keynes say we can alter inflation and unemployment by controlling the AD and money supply.
there, that should clear certain things. nway, i will continue my studies in accounting and economics, so i have to live with macro. sobs sobs! good luck in any forthcoming econs tests!
macro is generally tougher than micro, because they can either ask you what will happen based on different views, which view supports / disagrees with this action, and it's slightly harder to understand all the different views and apply them interchangeably.
while in micro, it is a much more direct path, and also easier to understand, because of less theories that disproves each other, and are easier to apply.
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