Post Reply

1. Post at least one reply to a classmate in the following format and at least 100 words:
   • Include the full name of your classmate, to whom your post replies.
   • State the topic. Why is a discussion about this topic important and of interest to us?  This post should not be “from your ‘gut’.” Research the topic briefly.  Add another example to our discussion.
   • Cite your research sources. What academically credible sources provided you with knowledge about your topic. <–Ensure your source is credible

To receive full credits, posts should be substantive: more than, “I agree” type posts, and should be at least 100 words.

Respond to this post.

While macroeconomics and microeconomics look and sound the same they are quite different from one another. Macroeconomics is the study or concerned with the big picture part of the economy such as government economic policies, interest rates, inflation, and many more. Microeconomics is the study or concerned with individual size parts of the economy that make up the economy such as companies, specific goods or services, households, and many more. A macroeconomic issue affecting our daily lives is unemployment on a large scale as stated in “Essentials of Economics” “When many workers are laid off, the result is a higher unemployment rate across the entire economy.” (p.8). An example of this was when Covid first sprung out and most of all work and companies close down for a few weeks and even months and laid off many of their workers. A microeconomic issue affecting our daily lives would be monopoly’s as stated by Tejvan Pettinger “For various reasons firms can gain monopoly power – and therefore the ability to set high prices to consumers.” (Pettinger). An example of this would be, if Tesla was one of the few or only companies selling electric vehicles, they could raise the price much higher than needed, and people interested in buying electric vehicles would have to pay the extra price because there’s no where else to buy them from. 

 

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