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– Nelson Mandela

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Week 1_Assignment_Final

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Q 1. What is the difference between micro and macroeconomics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one.2. Go to the internet and find a recent article that you find that is relevant for this section. Provide the link, and a summary of the article and discuss, in a few words, why you found the article interesting3. Provide an example of a sunk cost. How does this differ from a marginal cost? Explain a time you did (or should have) used marginal analysis to solve a problem.

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There is a subtle difference between micro and macroeconomics. It can be said that the micro-economics is all about the different types of the usages of the individual consumer behaviour and also there are different other things like the budget and utilities that is also studied under the microeconomics. The macroeconomics deals with the whole nation and it is dealt with the different types of the problems like the inflation and the other types of the issues like the unemployment.