BUS 538 - Micro and Macroeconomics Analysis

3 Credit(s)

Economics is the social science that studies how individuals, groups, firms, governments, and entire societies deal with the inability to satisfy all wants and desires, known as scarcity. One of the primary methods we deal with this notion of scarcity is to establish markets; that is, the exchange of goods and services. While microeconomics focuses primarily on individual markets and their interaction with other related markets, macroeconomics studies how one evaluates and adjusts entire economies or an entity that involves numerous markets for numerous goods and services.