Level Of Analysis

Microeconomics: Focuses on individual agents such as consumers, firms, and workers, and how they make choices.

Macroeconomics: Looks at the economy as a whole, including total output (GDP), unemployment, inflation, and economic growth.

Decision-Makers

Microeconomics: Individual decision-makers aim to maximise their own utility or profits.

Macroeconomics: Policymaking institutions like the government or central banks aim for broader social goals like full employment, price stability, and economic growth.

Goals And Objectives

Microeconomics: Typically concerned with price signals, resource allocation, and market equilibrium in individual markets.