Microeconomics

The economy is truly a life of it's own. It can be predicted and expected to do certain things, but it ultimately acts as a singular entity. Or so it would seem. There are two aspects of economic analysis that attempt to understand the economy as a whole. They are microeconomics and macroeconomics. While macroeconomics deals with the economy and its effects on a large scale, microeconomics looks at the individuals within the economy and the choices that they make. Microeconomics is a much closer and more personal aspect of the living economy, which in turn helps to explain the more significant overall shifts within the macroeconomic level of the economy.