Micro, Macro, Economics!

To start, I will confess that economics is one of my least favorite parts about social studies. I never really understood it, it didn't interest me, and therefore, I never really grasped it. Doing research for this project, now as an adult, definitely helped shed some light on the topic for me. I focused my research on the difference between macroeconomics and microeconomics.


Economics is a science that looks at the process by which goods and services are produced, sold, and bought. Economics looks at every angle of this process, from the company that makes something, the stores that stock it, and the people who buy it. It considers why a consumer is buying a certain product and what a producer can do to make their product more appealing. Within economics lies microeconomics and macroeconomics.





Microeconomics is the study of the economic decisions and actions of individual people or companies. So every time you go to the store to buy a new video game, or a new stuffed animal, you are contributing to microeconomics. This branch focuses on how people, as consumers, and companies, the producers, interact and effect each other on a smaller scale.






Macroeconomics is the study of the large economic systems of a country or region. This is the big picture of a whole country. So if we were looking at how the United States trades with China or Mexico, we would be talking about macroeconomics.





Here is a video "crash course" for kids beginning the study of economics.