"Microeconomics and macroeconomics are closely intertwined. Because changes in the overall economy arise from the decisions of millions of individuals, it is impossible to understand macroeconomic developments without considering the associated microeconomic decisions."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Academics from the United StatesEducators from the United StatesEconomists from the United StatesPeople from TrentonLiberals
Original Language: English
Available Languages (1)
Sources
Ch. 2. Thinking Like an Economist; p. 27
https://en.wikiquote.org/wiki/Greg_Mankiw
Revision History
No revisions have been submitted for this quote.
Categories
Greg Mankiw
17 quotes on TrueQuotesView all quotes by Greg Mankiw →
Related Quotes
"Today, Keynesian theorizing does not inspire whispers and giggles from the audience. There are many economists under …"
"It is too early to say there is a consensus about how all these topics fit together. Yet one can say that the new cla…"
"Despite its flaws, Peddling Prosperity has much to recommend it. There is no book written for a lay audience that exp…"
"Although Keynes’s General Theory provides the foundation for much of our current understanding of economic fluctuatio…"
"If you were going to turn to only one economist to understand the problems facing the economy, there is little doubt …"
"Which brings us to a third group of macroeconomists: those who fall into neither the pro- nor the anti-Keynes camp. I…"
"A few years ago, I had the good fortune of running across a first edition of Paul's textbook (not the recent reprint …"
"After more than a quarter-century as a professional economist, I have a confession to make: There is a lot I don’t kn…"
"The circular-flow diagram offers a simple way of organizing the economic transactions that occur between households a…"
"Economics is the study of how society manages its scarce resources. In most societies, resources are allocated not by…"