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Economics - Government Management of the economy (Macroeconomics (Key…
Economics - Government Management of the economy
Macroeconomics
Definition
Studies the large components of the economy
Studies the economy as a whole
Key Areas
Unemployment Rates
Distribution of Wealth
Inflation
Living Standards
GDP (Economic Growth)
Policy Options
Microeconomics
Definition
Studies the small components of the economy
Key Areas
Studies the behaviour of individual sectors in the economy
Such as one household one branch
Sectors in the Circular Flow
Policy Options
Direct Government intervention in the Market
Support growth in the Asia-Pacific region