Macro Economics Case Study
1. What is the difference between micro and macro economics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one.
Microeconomics is the study of how an individual, group or a company makes their decisions while macroeconomics is the study of how decisions are made on a whole, which involves growth, inflation, use of country resources and unemployment; focusing on broad issues. Microeconomics and macroeconomics goes hand in hand, they compliment each other. The decisions made by individuals are predisposed by macroeconomy; notwithstanding, macroeconomy is dependent microeconomic decisions. (“Microeconomics and Macroeconomics”, 2016). My perception is that both studies are ideally important and none is more important …show more content…
What interest is shown growth?
How would they prefer to be recognized for excellence?
When are they comfortable?
My study goes on, however studying the actions of my team; providing reports and analysis to my Manager. When the information is provided to the right persons who has the authority to make rules and regulations that will help govern the behavior of each associate. For example, providing correctives for late or checking for system issues that implicates aux abuse. Checks for fraud when a contact is not logged or logged properly. All these influences the decision made by the executive body in a company and is a perfect example of microeconomic phenomenon.
A macroeconomic phenomenon would be looking at Business Process Outsourcing (BPO) companies on a whole. What are the policies guiding the behaviors of the workers? What promise can be made in the statement of work to a client, that will guarantee excellent service? What actions will be taken to prevent fraud that will not lead to the company or companies losing a client(s).
The successes and failures of BPOs within a country are studied to determine growth for the country’s economy, unemployment rates and usage of …show more content…
I particularly don’t read a lot about other countries in relation to feuds and economic crisis. Being a Jamaican I will hear more about the American news, most involving the now President Donald Trump. It is fascinating to know that a country would make the decision to invest more money in military weapons rather than take care of the basic needs of the population. Communication in the article referred to the country’s economy as one of the least open economies to the world. The North Koreans are deprived of the main need for survival,
Microeconomics is the study of how an individual, group or a company makes their decisions while macroeconomics is the study of how decisions are made on a whole, which involves growth, inflation, use of country resources and unemployment; focusing on broad issues. Microeconomics and macroeconomics goes hand in hand, they compliment each other. The decisions made by individuals are predisposed by macroeconomy; notwithstanding, macroeconomy is dependent microeconomic decisions. (“Microeconomics and Macroeconomics”, 2016). My perception is that both studies are ideally important and none is more important …show more content…
What interest is shown growth?
How would they prefer to be recognized for excellence?
When are they comfortable?
My study goes on, however studying the actions of my team; providing reports and analysis to my Manager. When the information is provided to the right persons who has the authority to make rules and regulations that will help govern the behavior of each associate. For example, providing correctives for late or checking for system issues that implicates aux abuse. Checks for fraud when a contact is not logged or logged properly. All these influences the decision made by the executive body in a company and is a perfect example of microeconomic phenomenon.
A macroeconomic phenomenon would be looking at Business Process Outsourcing (BPO) companies on a whole. What are the policies guiding the behaviors of the workers? What promise can be made in the statement of work to a client, that will guarantee excellent service? What actions will be taken to prevent fraud that will not lead to the company or companies losing a client(s).
The successes and failures of BPOs within a country are studied to determine growth for the country’s economy, unemployment rates and usage of …show more content…
I particularly don’t read a lot about other countries in relation to feuds and economic crisis. Being a Jamaican I will hear more about the American news, most involving the now President Donald Trump. It is fascinating to know that a country would make the decision to invest more money in military weapons rather than take care of the basic needs of the population. Communication in the article referred to the country’s economy as one of the least open economies to the world. The North Koreans are deprived of the main need for survival,