Macroeconomics and microeconomics are the two levels of economic analysis
required to understand the multitude of economic problems that confront
our nation and the world. Macroeconomics looks at the economy as a
whole and is mainly concerned with avoiding or minimizing periods of
recession and inflation by employing counter-cyclical monetary and fiscal
policy. Microeconomics analyzes the behavior and decision-making of
the individual economic units--households and business firms--and focuses
on how a market-directed economy answers the three fundamental questions
of what, how, and for whom to produce.
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Since economists have the valued talent of recognizing and understanding
the chain of cause-and-effect relationships between many economic
variables at once, all types of employers from the private (business),
public (government), and international (multinational corporations and
international institutions) sectors seek their services. An
excellent source of information about the field of Economics is the
website of the American Economic Association.
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For further information about earning an Associate in Arts in Economics at
Indian River State College, see the recommended program of study for
the A.A. Degree in Economics.
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For further information about coursework in Economics at Indian River State College, see the description of Economics courses.
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The Discipline Leaders
for Economics at IRSC are Professor Maria Davis and Professor Jeff
Wiltzius.
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