Microeconomics and Macroeconomics

Microeconomics! 
"Microeconomics is the study of individual households, companies, and markets and how resources and prices combine to distribute wealth and products" (Sunal, Haas, 2011, p. 421). What this means if the prices of things vary depending on demand. In the summer, winter coats are cheapest because the majority of New York residents do not need one and the bathing suits are most expensive while in the winter the prices are the opposite because of demand. This also relates to when something new and popular arrives, the demand is high so more people want that object and the prices go up. Why do they go up? It does seem somewhat unfair to pay more when there are so many being sold, but it is because employees have to work extra hard and even over time to get this produce into the consumers hands like yourselves! The government will step in to regulate these monopolies from controlling too much or doing things that are unjust and selfish.  Then looking at different scales, the local, state, and national government officials control certain elements like roads or laws and they all work together to create the best microeconomics environment in their minds. Taxes play a part as well! They help public services update and keep up to par. 

Macroeconomics 
This is the BIG PICTURE. It looks at the economy as a whole, not broken up into different pieces. It worried about the entire nation, not just local or state wide. The GNP (gross national product) allows the values stay in-tune with other nations to keep things fair and level. The GNP allows to see the capita- the money generated by a single person to view as a capital or nation. For example, if the capita is $50, the lives are very different than a capita of let's say $4,000. They also look into jobs and timing, like the unemployment rate is lower during holidays because the need for shopping is higher so the employee need is also higher. This plays a role on inflation: the idea when all prices go up at the same time period. Monetary policy is the regulation of money in a nation's economy. Fiscal policy is the combined actions of the national government to allow money per business or person. These policies create a fair and managed economy.- or it tries to. The Unites States tends to have an option on these polices and people view them differently whether they are both needed, only one is needed, or people hate them both.