Topic: Can microeconomics help macroeconomics after the pandemic - page 2. (Read 253 times)
^ Microeconomics have their own role in the economy though they might be small most of the basic necessities of every country in particular with the agricultural products come from microeconomics or with the entrepreneurs. Thus recovery of the economy after this pandemic will start from microeconomics especially that globalization may not be the same as it was before right after the economic recession, where most of the large scale businesses come from rest assure after this crisis government will focus or prioritize first on this small scale before the large scale businesses. Nevertheless, loans for businesses whether small or large will definitely be more accessible after the recession because the government is aware that for the growth of their economy they need to support all these businesses.
How essential is microeconomics going to be to macroeconomics after this pandemic?
Many countries have hitherto payed little or no attention to small scale businesses, private owned firms, subsistence agriculture and industries owned by individuals, the government hardly supports this businesses with loans to boost their growth and provide employment on a small scale through their businesses.
Some developing countries who have exportable natural resources have concentrated solely on foreign trade(macroeconomics)abandoning other small scale areas in their country that can also generate income and improve the economy; now with corona virus pandemic hampering foreign trades to an extent and also creating inflation and recession, most of this exportable resources no longer have the value they use to have before, microeconomics can be the first step in seeing the economy through the recovery process.
Finally, imo microeconomics can speed up the economic recovery process of many countries, if the government can support this small scale businesses more, they will grow faster and can provide more employment, money cash inflow and more individuals will be encouraged to start up small businesses, and with all this the economy will be much better. With foreign trades, import and export and small scale enterprises/businesses booming all at once, national economy will be stronger and can withstand recession, especially in the future.
Many countries have hitherto payed little or no attention to small scale businesses, private owned firms, subsistence agriculture and industries owned by individuals, the government hardly supports this businesses with loans to boost their growth and provide employment on a small scale through their businesses.
Some developing countries who have exportable natural resources have concentrated solely on foreign trade(macroeconomics)abandoning other small scale areas in their country that can also generate income and improve the economy; now with corona virus pandemic hampering foreign trades to an extent and also creating inflation and recession, most of this exportable resources no longer have the value they use to have before, microeconomics can be the first step in seeing the economy through the recovery process.
Finally, imo microeconomics can speed up the economic recovery process of many countries, if the government can support this small scale businesses more, they will grow faster and can provide more employment, money cash inflow and more individuals will be encouraged to start up small businesses, and with all this the economy will be much better. With foreign trades, import and export and small scale enterprises/businesses booming all at once, national economy will be stronger and can withstand recession, especially in the future.
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