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Topic : GDP- Relevance in Healthcare
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Is the macro perspective more relevant than the micro one?

Created by : Vijay Mishra, Sales/BD Manager, Cybage Software  | 09 10 2008 07:32:29 +0000
Industry : IT ServicesFunctional Area : Global Business(Strategy & Execution)
Keywords : One Perspective Relevant Micro Macro
Activity:  218 views;  last activity : 07 06 2010 20:18:09 +0000

When the price of a product we want to buy goes up, it affects us. But why does the price go u? Is it important to know the micro factors or the macro cultures responsible for this? The discussion here is to ascertain whether given a chance of choosing ‘either of the two’- which one to go for.

  
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Macro Impact Vs Micro Impact
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Macroeconomics is flashier. It touches on GDP, inflation, unemployment and other things you read about in the newspaper. By itself macroeconomics is half of economics. It examines the economy in the large, focusing on feedback from one component of the economy to other, and studying the total level of production and employment. Inflation, GDP all are a part of the macro economic factors which reveals its importance to the national economy.
By Vijay Mishra, Sales/BD Manager, Cybage Software  | 09 10 2008 07:32:29 +0000
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Microeconomics focuses more on basic theories of supply and demand and how businesses decide how much of something to produce and how much to charge for it. Micro is the basic level and all other economic theory gets built on top of it. Micro economists study the markets for single commodities, examining the behavior of individual household and businesses. They focus on how competitive market allocates resources to create consumer and producer surplus, as well as how markets can go wrong. So this becomes very much the foundation for any future policies to be formulated. If given a chance I will go for this individualistic model rather than the macro one.

 

 
By Vijay Nadar, Sales/BD Manager, TCS  | 09 10 2008 07:34:24 +0000
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