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Micro Takes Over Macro

Author

Listed:
  • M Gani

    (Economic Science Institute, Dhaka.)

Abstract

An analytical innovation enhances microeconomics, enabling it to answer all questions of macroeconomics. It combines the production and consumption decisions of the individual in one model. For each individual, it identifies the customers of what he sells, and the suppliers of what he buys. It specifies the exchange relations between the suppliers and the customers. These relations deal with value (quantities and prices), payment (subsistence, barter, money, and bond) and intermediation (entrepreneurship, transaction costs, institutions), all of them integrated. It is easier done than said with the input- output table. There is no further need for a separate macroeconomics.

Suggested Citation

  • M Gani, 2004. "Micro Takes Over Macro," Macroeconomics 0404012, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpma:0404012
    Note: Type of Document - pdf; pages: 18. This is a completely new analytical approach to macroeconomics.
    as

    Download full text from publisher

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0404/0404012.pdf
    Download Restriction: no
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    References listed on IDEAS

    as
    1. Gani, Mohammad Osman, 2003. "Foundations of Economic Science," MPRA Paper 67542, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Microeconomics; macroeconomics; innovation; output; employment; money.;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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