Microeconomics.....? Macroeconomics.....?

Macroeconomics vs. Microeconomics

Microeconomics 

1) small

2) Study of particular markets and segments of the economy

3) Examples: individual consumer behavior, individual market, individual household, individual firm, individual industry

Macroeconomics

1) BIG

2) Study of the economy as a whole

3) Examples: economic growth, unemployment rates, inflation, interest rates

Similarities

1) Microeconomics effects macroeconomics and macroeconomics effects microeconomics

Teaching in the classroom

Since microeconomics and macroeconomics are complex subtopics of economics, I would teach them separately. I would have the students complete a Venn diagram and list the differences between microeconomics and macroeconomics, as well as list the similarities. Since this will be taught at the elementary to middle school grade level, I will have the students complete an activity after learning about and establishing a concrete foundation of understanding for both topics. I would choose a cause and effect activity. I would split the class into 2 groups: 1) business owners and 2) homeowners. Homeowners would be assigned a certain monthly budget and bills and business owners will be assigned when to increase and decrease their prices. Unbeknownst to students, students will lost their "jobs" and will have to figure out a new budget. The point of this activity will be to see how losing a job causes a domino effect by households being effected, then businesses, then the economy (microeconomics to macroeconomics). This activity also allows students to relate a concept they are being taught to a real life scenario or issue.

References

Difference Between Microeconomics and Macroeconomics. Retrieved April 2, 2015, from http://www.economicshelp.org/blog/6796/economics/difference-between-microeconomics-and-macroeconomics/