Letter to BS: Microeconomics focuses on issues that affect individuals, cos

The difference between micro and macroeconomics is that microeconomics is the study of economics at an individual, level while macroeconomics is the study of a national economy as a whole

This is with reference to the article of TCA Srinivasa Raghavan, “Limits of Modinomics” (May 5). He has said that Modi has reduced subsidies, broadened and widened the tax base, gone after the NPA-wallas and brought in other microeconomic policy changes. He has referred to the squeeze on the fiscal deficit, interest rate and overvalued rupees as macro-economic changes.

Let me point out here that those policies which he has called microeconomic are in fact macroeconomic. The difference between micro and macroeconomics is that microeconomics is the study of economics at an individual, group or company level while macroeconomics is the