Difference between Microeconomics and Macroeconomics

Points of difference	Microeconomics	Macroeconomics
Unit of study	Studies the economic behavior of individual economic unit of household, firms, industries, market etc.	Studies the economic behavior of economy as a whole.
Focus of study	Studies problem of scarcity and choice at the level of an individual,household,firm and industry.The main focus is in the functioning of commodity and factor markets like determination of price,allocation of resources,distribution of output etc.	Studies broad economic aggregates like national income and employment, Aggregate consumption,aggregate saving and investment,economic growth and BOP
Basic parameter of the subject matter	Price is the basic parameter of microeconomics. All economic units takes their decision on the basis of prices in different markets	Income is the basic parameter of macroeconomics. Economic decision relating to aggregate consumption, investment etc are taken on the basis of national income
Different perspective	Microeconomics is the bottom to up view of the economy	Macroeconomics is the top to down view of the economy
Method of study	It uses the technique of partial equilibrium analysis. partial equilibrium refers to equilibrium in one market say commodity market on the assumption that there is no change in other market( labour or capital market).For ex. while formulating the law of demand in microeconomics,we study the relationship between price and demand on the assumption that factors other than price of the commodity remains same.	It uses the technique of quasi general equilibrium analysis. General equilibrium refers to simultaneous equilibrium in all the market in the economy.
Nature of assumptions	In microeconomics, it is assumed that total output, income and employment,general price level,etc (i.e. economic variables of macroeconomics) are given.On this basis of assumption microeconomics explains how allocation of resources takes place and how prices of different commodities are determined.	Macroeconomics assumes that economic variables of micro economics like price, distribution of output etc as given.on this basis macroeconomics explains how aggregate output, income, employment and price level is determined in the economy as a whole.