Introduction to economics

Differences between Micro&Macro economics

-Microeconomics--Actor makes decisions/allocation scarce resources. Philosophy decision making----simplify----Math= Conclusions

-Macroeconomics-- Aggregate economy, million actors, involves policy-top down questions. million of interactions----Assumptions----Math= Conclusions

**These conclusions can be dangerous: Sometimes math might lead you to some very strong conclusion that based on some assumptions that either might be wrong, or might be over-simplifications, or might not be relevant to the context that you are trying to make conclusions about.